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Monthly Archives: November 2015

Need Swachh Bharat Cess (SBC) In India ?

In today’s scenario, all are discussing about Swachh Bharat Mission which was launched by Prime minister, Narendra Modi with the aim to improve the sanitation in rural and urbn areas so that the overll quality of life improves. Since its launch govt. has made substantial expenditure on the programme.

Section 2(76) of the Companies Act, 2013 – Related Party

‘Related party’ has got a lot of significance in the public reporting scenario. In case of public companies public and society stake is involved and in case of private companies, even if public stake is not involved, the stake of other elements of society may be directly or indirectly involved. In such situation, maintaining transparency in the working of a company or a body corporate is very much essential. Transactions with related parties may if not entered into with due care may give a wrong perception and may hinder the transparency of the entity. This has given the regulators to keep a check on related party transactions by way of legal provisions in various legislations.

Govt may bring down Corporate Tax from 30% to 25%

Press Information Bureau
Government of India
Ministry of Finance
Government Calls for Comments on Proposed Plan of Phasing-Out Exemptions and Deductions under the Income-Tax Act in Order to Bring Down Rate of Corporate Tax from 30% to 25%
The Union Finance Minister Shri Arun Jaitley in his Budget Speech 2015 had indicated that the rate of Corporate Tax will be reduced from 30% to 25% over the next four years along with corresponding phasing-out of exemptions and deductions. This is a step towards simplification of tax laws, which is expected to bring about transparency and clarity.

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