Thursday, 28 June 2012

Statutory Audiotors now required tp PAY ROC fees on their appointment

Ministry of Corporate affairs has vide its General Circular No. 14/2012, dated 21-6-2012 imposed  fees on various forms which were free of cost. One such form was E-form-23B which in an Intimation to ROC by statutory auditors regarding their appointment. So now fee shall be payable based on Authorised Capital of the Company. Additional fee provisions shall also apply in case of delay. It shall be applicable from 21st July 2012.

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Supreme Court ruling holds non-compete fee is allowable as revenue expenditure

  The Hon’ble Supreme Court settled the long-standing controversy surrounding the tax treatment of non-compete fees and, based on the facts ...