Daily Archives: September 15, 2015

Govt Defence equipment companies exempted to disclose Additional information of Schedule III

By | September 15, 2015

Govt. Defence equipment companies exempted to disclose Additional information of Schedule III to the Cos Act, 2013 SECTION 129 OF THE COMPANIES ACT, 2013 – FINANCIAL STATEMENT – NOTIFIED PARAS RELATING TO ADDITIONAL INFORMATION OF GENERAL INSTRUCTIONS FOR PREPARATION OF STATEMENT OF PROFIT AND LOSS IN SCHEDULE III OF SAID ACT NOT TO APPLY TO… Read More »

Apples Import through Nhava Sheva Port

By | September 15, 2015

[TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II, SECTION – 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT OF COMMERCE NEW DELHI NOTIFICATION NO. 21/2015-2020 Dated: September 14, 2015 Subject: Amendment in import policy conditions of apples under Exim code 0808 10 00 of Chapter 08 of ITC (HS),… Read More »

specially designed ponds are plants and eligible for depreciation

By | September 15, 2015

whether ‘natural pond’ which is  specially designed for rearing prawns would be treated as ‘plant’ within Section 32 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the purposes of allowing depreciation thereon ? since the ponds were specially designed for rearing/breeding of the prawns, they have to be treated as tools… Read More »

Foreign exchange loss is not Speculative Loss if

By | September 15, 2015

When will  Foreign exchange loss in forward contract is not speculative Loss and is allowed as Business Loss ? Foreign exchange loss incurred by assessee on account of entering into forward contracts with banks for purpose of hedging loss in connection with its import/export business has to be regarded as business loss subject to condition that… Read More »