The auditors also said that the company is in the process of monetising its assets and has submitted a draft resolution plan to the consortium of bankers for restructuring its borrowings and also there have been discussions for stake sale by the promoters to a strategic partner with further equity infusion.
Tax rules that could land you in trouble
It is not advisable to touch retirement corpus if property is being purchased for investment.
These plans aren't likely to put substantial cash in your hands.
The move would help tax authorities get leads on evasion.
'There is a huge tax differential of 15% to 20% depending on income classification.'
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
Preliminary investigations conducted by capital markets regulator Securities and Exchange Board of India and inputs from other regulators and government departments suggest that some brokers were offering structured financial products to their HNI clients under some portfolio investments schemes for high returns of 10-20 per cent.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
ICDS is silent on the prudence aspect of accounting standards.
The tax computation compares the original cost, along with the stock value on January 31, and grants benefit of the higher of the two.
India is set to sign an agreement with the US to resolve transfer pricing disputes, which will then serve as a template for settling such rows with multinational companies based in the UK, France and other European countries.
Once the income has been classified as either business income or capital gains, be consistent.
Withdrawals from EPF and NPS to have same tax rates.
The company has finalised a three year business plan to increase revenue and control costs.
Budget may bring exemption for those backed by Indian securities other than shares
The government has also developed a PAN activity monitoring.
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
Last week, the government had introduced the black money Bill.
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Budget smartphones will rule the market in 2015.
The Disciple is an ode to music and a salute to Mumbai. The city can be harsh, but it also lets the voices of struggling classical musicians exist, although often they live on the edge of society, observes Aseem Chhabra.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
Rationalisation in taxation on the retirement scheme puts significant money in the hands of investors.
To save promoters from 10% levy, 70 firms call board meetings on interim pay.
This move to make it easier for funds to avail of tax exemptions.
If the sum assured is less than 10 times premium, the proceeds will be taxed.
The tax imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
This route accounts for Rs 2.75 lakh crore of FPI holdings.
Arun Jaitley said he would put the DTC Bill in cold storage.
Many hurdles that investors could have faced after enrolling for the scheme have been removed.
A handful of online retailers have started offering alcoholic beverages through the e-commerce route since then. Letsbuydrink.com caters to Delhi, Gurgaon, Faridabad and Mumbai and offers imported alcoholic beverages for sale.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
The adjustment orders for AY2012, are expected between January and March 2016.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
Recent easing of restrictions does not address the pain in the sector.
The disagreement between the Centre and states continued over administrative powers.
'If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,' notes Homi Mistry, a partner with Deloitte India.
Cooperative societies get more tax benefits as compared to individual house owners.
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