by Sailaja | Mar 16, 2015 | Corporate Laws
Majority of Private Limited Companies have accepted unsecured loans from Director’s relatives or from its members as allowed under the provisions of Companies Act, 1956. As per Companies (Acceptance of Deposit) Rules, 2014 as applicable from Ist April 2014 all such...
by Sailaja | Jan 27, 2015 | Indirect Taxes
Ovieya Builders Vs. Commissioner of Customs, Central Excise & Service Tax (Appeals), Coimbatore [(2015) 53 taxmann.com 26 (Madras)] Ovieya Builders (the Petitioner) was engaged in the activities of construction and had carried certain construction works for M/s....
by Sailaja | Jan 26, 2015 | Direct Taxes
CBDT Circulars and provisions of the Income Tax Act, mandating filing of TDS Statements and Issuance of TDS Certificates downloaded from TRACES. But If you are not required to submit TDS statement for FY 2013-14 and not filed any TDS Statements in FY 2013-14 ,...
by Sailaja | Jan 26, 2015 | Direct Taxes
Vide Finance Act, 2012, section 143(1D) was introduced in income tax act which prohibited processing of income tax returns in case notice u/s 143(2) has been issued (i.e. scrutiny cases). Ambiguity arose as to whether the said sub-section applies to those cases as...
by Sailaja | Jan 26, 2015 | Direct Taxes
House rent allowance (HRA) is received by the salaried class. A deduction is permissible under Section 10(13A) of the Income Tax Act, in accordance with Rule 2A of the Income Tax Rules. You can claim exemption on your HRA under the Income Tax Act if you stay in a...
