Judicious use of CSR Resources While no CSR Compendium for the Corporates has been organised by the Ministry, the CSR provisions under the Companies Act, 2013, exhort eligible corporates to function in a socially responsible manner with the underlying spirit being to ensure use of scarce resources in a judicious manner for the greater good… Read More »
Section 149(4) of Companies Act, 2013 mandates appointment of independent directors by listed companies. Further, as per Rule 4 of Companies (Appointment and Qualifications of Directors) Rules, 2014 the following class of companies shall have atleast two independent directors:- • the Public Companies having paid up share capital of ten crore rupees or more; or… Read More »
The amount of FDI inflow received during last year (2014-15) is US$ 44.29 billion. It has increased by 29% & 22% in comparison to financial year 2012-13 (US$ 34.29 billion) & 2013-14 (US$ 36.05 billion) respectively. FDI in various sectors is allowed up to the different limits, varying from 20% to 100%, subject to prescribed… Read More »
To give impetus to the medical devices sector and for easing the norms the Government vide Press Note 2 (2015 series) dated 21.01.2015 allowed 100% FDI under the automatic route for brownfield projects of medical devices industry. The measure undertaken would help in easing the process of foreign investment in this industry which, in turn,… Read More »
PF claim Employees’ Provident Fund Organisation has also come out with new forms – 19UAN, 10CUAN and 31UAN – for all employees whose Aadhaar number and bank details have been duly verified by the employer, using digital signature. Employees whose details like Aadhaar Number and Bank Account Number have been seeded in their UAN and… Read More »
F.No.:DGIT(S)/CPC(TDS)/Corp_Authentication Mech/2015-16/14557-14690 Govt of India Ministry of Finance Central Board of Direct Taxes Director of Income Tax (Systems) New Delhi Notification No 3 /2015 New Delhi,1st of December 2015 Stringent Authentication mechanism through corporate Head Quarter server for filing of correction statements & download of TDS Certificates , Consolidated files etc by banks /Corporate regarding
F.No.:DGIT(S)/CPC(TDS)/DCIT/15GH/2015-16/14425-556 Govt of India Ministry of Finance Central Board of Direct Taxes Director of Income Tax (Systems) Notification No 4 /2015 Dated 1st of December 2015 Subject: Simplification of procedure for Form No 15 G & H regarding
Income deemed to accrue or arise in India. Following Explanations 6 and 7 shall be inserted after Explanation 5 in clause (i) of sub-section (1) of section 9 by the Finance Act, 2015, w.e.f. 1-4-2016 : Explanation 6.—For the purposes of this clause, it is hereby declared that— (a) the share or interest, referred to in… Read More »
Power of the Central Board of Direct Taxes to prescribe the manner and procedure for computing the period of stay in India Clause (1) of section 6 of the Income-tax Act provides the conditions under which an individual is held to be resident in India. The said clause, inter alia, provides that an individual is… Read More »
Section 2 (15) of the Income Tax Act 1961 :- “charitable purpose” includes relief of the poor, education, yoga, {yoga inserted by the Finance Act, 2015, w.e.f. 1-4-2016} medical relief, preservation of environment (including watersheds, forests and wildlife) and preservation of monuments or places or objects of artistic or historic interest, and the advancement of any other… Read More »