New companies act 2013, has mandated rotation of individual auditor, audit firm and audit partner for all listed companies and certain private and unlisted public companies. In this article we will be discussing applicability of rotation of company auditor and other provisions related to it. As per the new companies act 2013, following companies are compulsorily … [Read more...] about Rotation of company auditors – New provision in companies act 2013
Archives for September 2014
Is PAN card a mandatory requirement for company registration in India
In case of Indian residents, Income tax's Permanent Account Number or PAN details are a mandatory requirement for company incorporation. While applying for DIN in form DIR-3, you are required to provide your income tax's permanent account number or PAN details and get it verified online. However, this field is not a mandatory field in DIR-3. But it does not mean that PAN … [Read more...] about Is PAN card a mandatory requirement for company registration in India
Difference between NRO and NRE account
In order to repatriate funds from India, government allow an NRI to open rupee account in any authorized banks of India. For such repatriation, NRI has two options for opening a bank A/c. In order to keep India based earning in India; NRI can open an NRO account in any authorised bank and start depositing India earning in it. Similarly, to repatriate overseas earned money … [Read more...] about Difference between NRO and NRE account
Individuals need not pay tax on income up to Rs. 620000 – Impact of budget 2014
We have seen many changes in budget 2014, out of which some benefits are extended to individual tax payers like hike in section 80C, section 24 deductions etc. Today, in this article we will show you how one can avoid tax by taking advantage of various new amendments in IT act as passed in budget 2014. Let us first discuss these changes. Hike in Section 80C deduction … [Read more...] about Individuals need not pay tax on income up to Rs. 620000 – Impact of budget 2014