Simplifying Taxation in India
CONVERSION OF PRIVATE LIMITED OR UNLISTED PUBLIC COMPANY INTO LLP AND ITS TAXABILITY UNDER INCOME TAX ACT, 1961The Government of India has introduced various types of business structures for doing business. An entrepreneur can choose one from various business structures available according to their suitability. These are Proprietorship, Firm, AOP, One Person Company, Private Limited … Read more
RATES OF DEPRECIATION UNDER COMPANIES ACTSCHEDULE XIV[See sections 250 and 350] RATES OF DEPRECIATION__________________________________________________________________________ Single Shift Double Shift Triple Shift Nature of Assets ———— ———— ———— WDV SLM WDV SLM WDV SLM___________________________________________________________________________ I BUILDINGS(a) Buildings(Other than 5.00 1.63 … Read more
Your Directors have pleasure in presenting their ………….Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2015.1. Financial summary or highlights/Performance of the Company (Standalone)The Board’s Report shall be prepared based on the stand alone financial statements of the company.The Financial data for the … Read more
What Is Depreciation:Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of the time or obsolescence through technology and market changes, Depreciation includes amortization of assets whose useful life is predetermined.Calculation of Depreciation. (CLICK INTO THE IMAGE GET ORIGINAL SIZE) Depreciation is … Read more
To ensure fair treatment of minority investors during takeovers of listed companies, regulator Sebi has decided to seek help of chartered accountants and merchant bankers for an independent valuation of the price offered to small shareholders by new promoters. For the purpose, Sebi would empanel eligible Chartered Accountant firms to take up work relating to … Read more
Companies (Accounts) Amendment Rules, 2015 – F.NO. 1/19/2013-CL-V-PART – Dated 16-1-2015 – Companies Law [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii)] GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, dated 16th January, 2015 In exercise of the powers conferred by section 469 of the Companies … Read more
COMPANY REGISTRATION PROCESS FOR NON RESIDENT INDIAN (NRI’s)With over 20 million in population and with investment size of over US$4000 million in last 10 years, NRI plays an important role in Indian Growth history. NRI are those individuals who are the citizen of India but are resident outside India. We often overlook the term NR … Read more
Issue of shares under the Companies Act’2013 by Private Limited Companies 1) Methods of issue of shares: A) Private Placement (Section 42 of the Companies Act’2013, Rule 14)B) Preferential allotment/Preferential offerC) Right IssueD) Conversion of Loan/Debentures into shares.E) Bonus issueA) Private Placement (Section 42 of the Companies Act’2013, Rule 14) 1) “Private placement” means … Read more
Effective Date: 02.12.2014.The Corporate Affairs Ministry has had extensive consultations with stakeholders in the matter. The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, on 2ndSr No. December 2014 approved the introduction of the Companies (Amendment) Bill, 2014 in Parliament to make certain amendments in the Companies Act, 2013. This would be among … Read more
The Lok Sabha today passed the Companies (Amendment) Bill, 2014, after Corporate Affairs Minister Arun Jaitley told the house that some of the original provisions were only posing hurdles to doing business in the country. “The object of these amendments is solely to ease the process of doing business in India. None of them have … Read more