The substitution of the word “or” redefined Small

Small Companies Under The Companies Act, 2013  Ministry of Corporate of Affairs of India has come up with the Removal of Difficulties Order, 2015 on 13th February, 2015 redefining the meaning of the Small Company by substituting the word “or” with the word “and” occurring at the end of the Clause (i) of section 2 (85) of the Companies Act ,2013 After...

SECTION 234A INTREST  

The CBDT has issued Circular No. 2/2015 dated 10.02.2015 on the issue of chargeability of interest u/s 234A of the Income-tax Act, 1961 on self-assessment tax paid before the due date of filing the return of income. The CBDT has pointed out that in CIT vs. Prannoy Roy 309 ITR 231 (SC), the Supreme Court has held that interest u/s 234A of...

Amendment in Companies (Cost Records and Audit) Rules, 2014

MCA vide notification dated 31st December 2014 has made amendment in the Companies (cost records and audit) Rules, 2014 through Companies (Cost Records and Audit) Amendment Rules, 2014. The details of amendment are reproduced as below: 1. In rule 2 After clause (a) the following clause shall be inserted:- (aa) Central Excise Tariff Act Heading means the heading as referred in the...