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NICAI Updates Dated 17 Sep 2014

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  • NICAI Updates Dated 17 Sep 2014

    ITR due date extended to 30-11-2014 for assesses in state of Jammu and Kashmir.

    Excise duty refund for industrial development in State is to be treated as capital receipt.

    Registered Trust (as referred in Rule 4(2) of the Companies CSR Rules, 2014) would include Trusts registered under Income Tax Act 1956, for those States where registration of Trust is not mandatory.

    Minors above 10 Years age allowed to Operate Bank Account independently.

    Useful life of the asset on the basis of Shift has been prescribed in place of rates of depreciation in the part C Schedule II of the Companies Act 2013 as a base for computing depreciation.
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