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Sep 8, 2009



Checklist/Procedure for Conversion of Partnership firm into a company

Conversion of Firm under Part IX  of the Companies Act, 1956 :- The firm may be converted into a company by following the provisions of Part IX of the Companies Act, 1956. Sections 565 to 581 deal with conversion of firms into a company under the...

Taxation of Limited Liability Partnership (LLPS) in India

Limited liability partnership (LLP) is essentially a partnership constituted in corporate form which has a separate legal identity distinct from its partners. Its primary advantage is the benefit of limited liability, a feature not prevalent in...

Expenses incurred by a company in relation to advertising and promoting a brand owned by it would be eligible for input tax credits

In a recent landmark judgement in Coca Cola India Pvt. Ltd. vs. Commissioner of Central Excise (2009-VIL-06-HC-BOM-ST), the Mumbai High Court has interpreted the relevant provisions of service tax law in a broad and inclusive manner in order to hold...

IRDA issued norms for transfer of Agents between insurance companies

Insurance policy holders will now have no difficulty if their agents suddenly switch from one insurer to another, which results in lack of service. The insurers will now have to enter into an agreement with their agents/corporate agents for...

Requirement and procedure for obtaining commencement of business certificate

Certificate of Commencement of Business: Procedural Analysis The date of incorporation of a company may not be the date of commencement of business. A private company and a public limited company not having share capital are not required to comply...

Service tax exemption to five more export promotion councils

The Finance Ministry has extended service tax exemption to five more export promotion councils (EPCs). With this move, the total number of EPCs that could avail themselves of service tax exemption has gone up to 27 across the country. Budget 2009-10...

Department filed appeal in high court against pharma companies not deducting TDS on contract manufacturing

Drug firms outsourcing finished products for domestic as well as export markets are under the income-tax (I-T) scanner. The I-T department has dragged around half a dozen leading drug makers, including Novartis Healthcare Pvt. Ltd, Elder...

Oil & gas service providers not been provided benefit of presumptive taxation in DTC

Under the existing provisions of Section 44BB of the Act, which has non-obstante clause overriding the other provisions of the Act, non-resident service providers to oil & gas industry enjoy a tax regime wherein 10% of the gross receipts are...

Roc issued New Version of many online filing forms

New version of Form 15, 1INV, 21, 23, 23AA, 23C, 24, 25B, 25C, 3, 32, 35A, 37, 39, 4C, CAR, DDB, 24AB, 23AAC, 65, 63, DD-C, 23AAA, Form I- Application for appointment of sole selling agent, Form of annual return of a foreign company having a share...

With Regards,
Sandeep Kanoi
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