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2014
  • CBDT has revised PAN Application form 49A and 49AA w.e.f. from 16.05.2014 vide its notification no. 26/2014, dated- 16-5-2014.
  • Revised Form 49A and 49AA provides option to get printed Mothers Name on PAN card. So those applying for New PAN card or for revised PAN card have the option to get printed on their PAN card the name of his/her mother. But applicant can select only one option, he /she cannot have the name of both mother and father printed on PAN card.
  • In case Applicant do not exercise his/her option than by default Father’s name will get printed on PAN card.

2014
 

If you keep your feet firmly on the ground, you’ll have trouble putting on your pants.


It’s not hard to meet expenses, they are everywhere.


I love being a writer… what I can’t stand is the paperwork.


2014

The fundamental difference between RGS and NEFT, is that while RTGS is based on gross settlement, NEFT is based on net-settlement. Gross settlement is where a transaction is completed on a one-to-one basis without bunching with other transactions. As for a deferred Net Basis ( DNS ), or net-settlement, this is where transactions are completed in batches at specific times. Here, all transfers will be held up until a specific time. RTGS transactions are processed throughout the working hours of the system.


2014

Q 1. What is a One Person Company (OPC)?

Section 2(62) of the Companies Act, 2013 defines OPC to mean a Company which has only one person as a member.

Q 2. Could OPC be formed in the regime of the Companies Act, 1956?

OPC is a new concept introduced in the Companies Act, 2013. Therefore, OPC could not be formed under the earlier Acts.

2014

Gold Economy

If for one year there are no gold imports, it will change the current account deficit story of the country. Indians think they are buying gold in rupees. Actually they are buying gold in dollars.
- Finance Minister P. Chidambaram.

  • The Finance Minister of any country aims to have positive current account balance.
  • However, in India Gold has remained one of the chief contributors to current account deficit.
  • India imports three things mainly
    • Crude Oil
    • Cooking Oil
    • Gold

2014
  • Effective 1st April 2014, the Government of India has repealed the Companies Act, 1956 with the new Companies Act, 2013.
  • We have tried to make a brief overview of some of the important provision applicable to Private Limited Companies in India.

Financial Management