In our last article, we have discussed various provisions on company auditors such as appointment, resignation, filing of e-form ADT-1, and qualification required to be a company auditor. In this article we will be discussing how to remove a company auditor and filing of e-form ADT-2 with ROC for removal. As per section 140 of the Companies Act, 2013, an auditor can be … [Read more...] about Removal of auditor and procedures for filing e-Form ADT2 – Section 140 of Companies Act 2013
Archives for November 2014
Donation to political parties can be claimed as tax deduction
Donation to a political party can be done by an Indian citizen or Indian company. A non resident can also contribute if he or she has a valid passport. These individuals and Indian companies can claim tax deduction on their donations if conditions related there to have been satisfied. We have two sections related to tax deduction on donation to political parties. Section … [Read more...] about Donation to political parties can be claimed as tax deduction
TDS return filing forms and due dates – For quarterly filing
TDS returns are to be filed after deducting tax from eligible payments and depositing it with the government. TDS return, which is referred as return for tax deducted at source, has to be filed quarterly based on the type of tax deduction. In this article, we will be discussing various TDS return filing forms and the due dates for filing quarterly TDS statements. Different TDS … [Read more...] about TDS return filing forms and due dates – For quarterly filing
Why political parties are not paying tax in India
Political parties like BJP, Congress, DMK, AIDMK, AAP, SP and BSP are tax exempted in India. Section 13A of income tax act specifies that on satisfying certain conditions these political parties will be allowed tax exemption. Here are those conditions that each political party is required to satisfy to get tax exemption; Political party must be registered or deemed to be … [Read more...] about Why political parties are not paying tax in India
Due dates for filing section 44AB tax audit report and penalty for late filing
Due date for filling income tax audit report as required under section 44AB is 30th September of the assessment year for which books of accounts are prepared and getting audited. This means for financial year 2013-2014, tax audit report filing due date is 30th September 2014. However, for financial year 2013-2014 (i.e. AY 2014-2015), CBDT has extended the due date of filing … [Read more...] about Due dates for filing section 44AB tax audit report and penalty for late filing
Resignation of company auditor and filing of form ADT3 with ROC
In our previous articles, we have discussed steps for appointing a company auditor, filing of e-form ADT-1 and qualification required to be an auditor. An auditor appointed under section 139 of Companies Act 2013, can resign after his or her appointment. When an auditor ceases to hold office after resignation as company auditor, the auditor is obliged under section 140 of … [Read more...] about Resignation of company auditor and filing of form ADT3 with ROC
How to file form ADT1 with ROC – Step by step procedure
Form ADT1 is required to be filed for auditors appointed under section 139(1) of companies act 2013 read with rule 4(2) of the companies (audit and auditors) rules, 2014. This form is to be filed as a notice to registrar about appointment or reappointment of auditor. In our last article we have discussed when and who has to file form ADT1 with ROC. In this article we will be … [Read more...] about How to file form ADT1 with ROC – Step by step procedure