Please be informed that pursuant to the recent cabinet approvals by the Haryana State Government, the State Government has increased the WCT rate from 4% to 5% pursuant to section 24 of Haryana VAT Act, 2003

The Uttar Pradesh (UP) Government vide Section 21 of The Uttar Pradesh Value Added Tax Act 2008 and Rule 42 thereof has already recognized Cost Accountants and Company Secretaries for the purpose of Auditing of Books of every taxable dealers under the Act. Now The UP  Government has issued an amendment to Rules vide Government Notification…

Ministry of Corporate Affairs has vide General Circular No 27/2014 dated 30-06-2014 extended the due date for filing of Form DPT – 4 with Registrar of Companies in respect of deposits standing on 01.04.2014 i.e. the date of commencement of Companies Act 2013 from 30.06.2014 to 31.08.2014 without any additional fees.

ICAI in its Pre-Budget Memorandum 2014 on Direct Taxes suggested that amount paid by salaried assessees for notice period is to be allowed as deduction. As per the prevalent norm, the employees are required to serve notice within the stipulated time before leaving the  organisation. The notice period, however, varies from organisation to organisation. For…

Ministry of Corporate Affairs published a draft notification on 24th June 2014 which, by far if notified, will be paramount importance and will restore the heydays for private companies clearing the air with respect to the same, the Ministry of Corporate Affairs published a draft notification on the inapplicability/ partial/ modified applicability of certain provisions…

After long wait CBDT has finally released ITR 5 which is applicable for Income Tax Return(ITR) of firms, AOPs, BOIs, and LLPs for Assessment Year 2014-2015. CBDT has released Java utililty of ITR-5 and we expect Excel utility also to be released soon.

CBDT has vide notification No. 32/2014 dated 23.06.2014 prescribed new Wealth Tax Return Form BB wef A.Y. 2014-15 instead of old form BA. CBDT has also prescribed that this form can be filed online with or without digital signature. For certain class of Assessee i.e. Individual/HUF not liable to tax audit e-filing is optional but…

The very first budget by new government will be presented by Mr Arun Jaitely, Finance Minister of India on 10th July 2014.

E-filing of ITR-4 for Assessment Year 2014-2015 is now available on the Income Tax E-filing portal. Happy ITR filing

General Circular No. 20/2014, Dated 17th June, 2014 Section 108 of the Companies Act, 2013 read with rule 20 of the Companies (Management and Administration) Rules, 2014 deal with the exercise of right to vote by members by electronic means (e-means). The provisions seek to ensure wider shareholders participation in the decision making process in…