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2014

Analysis of Definition of Dormant Company:

Dormant Company means a company –
  • If a company is formed and registered under the Act for a future project and has no significant accounting transaction, or
  • If a company is formed and registered under the Act to hold assets and has no significant accounting transaction, or
  • If a company is formed and registered under the Act for Intellectual property and has no significant accounting transaction such a company, or
  • An Inactive company may make an application in such manner as may be prescribed for obtaining the status of dormant company.

2014
  • The existing provisions contained in sub-section (9) of section 139 provide that where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of fifteen days. If the defect is not rectified within the time allowed by the Assessing Officer, the return is treated as an invalid return. The conditions, the non-fulfillment of which renders the return defective, have been provided in the Explanation to the aforesaid sub-section.
  • Section 140A provides that where any tax is payable on the basis of any return, after taking into account the prepaid taxes, the assessee shall be liable to pay such tax together with interest payable under any provision of this Act for any delay in furnishing the return or any default or delay in payment of advance tax, before furnishing the return.

2014
Apple

A: APPLE

Bluetooth

B: BLUETOOTH

Chat

C: CHAT

2014
  • Though every body is interested in this question and this question has been asked by many and generally not have any answer in text book also ,why it so ?
  • The answer is very Interesting that the above question is wrong the correct question is

    How we can create capital for HUF?

    We can not create HUF but can arrange capital for it.

2014

Changes applicable in Service Tax w.e.f. 01/10/2014

  1. Advertisements in internet websites, out-of-home media, on film screen in theatres, bill boards, conveyances, buildings, cell phones, Automated Teller Machines, tickets, commercial publications, aerial advertising, etc. (sale of space for advertisements in print media would continue to be non-taxable) are leviable to Service Tax.
  2. Introduction of variable Rates of Interest u/s 75 of Finance Act, 1991:

2014

National Cyber Security Policy, 2013

  • National Cyber Security Policy is a proposed law by Department of Electronic and Information Technology (DeitY), Ministry of Communication and Information Technology, Government of India. Which is due to be passed by parliament, aimed at protecting the public and private infrastructure from cyber-attacks.
  • The policy also intends to safeguard information, such as personal information (of web users), financial and banking information and sovereign data.
  • This was particularly relevant in the wake of US National Security Agency (NSA) leaks that suggested the US government agencies are spying on India users, who have no legal or technical safeguards against it.

Financial Management