Latest Blogs from SBS and Company LLP

    The Companies Act, 2013 (“Act” or “Companies Act”) does not define the word ‘Meeting’. One of the canons of interpretation of statutes, as laid down by courts in India in a number of cases, is that when a word is used but not defined in a statute, it should be interpreted by its ordinary meaning. In general context, meeting is an assembly of people for a particular purpose, especially for formal discussion.

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    Profession tax is a tax on income earned by way of profession, individual salaries/wages, on business owners and excluding the income from agriculture and blind people, are liable to pay the tax to the state government. 

    The maximum amount payable per year is Rs. 2,500/- and in line with tax player’s salary, there are predetermined slabs for the Andhra Pradesh government and the slab rates is differ from state to state and the Andhra Pradesh Slabs rates as below.

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    APRIL – 2016 (VOLUME-21)

    Key Topics Covered:

    • Excise Duty – FAQs on Applicability of Excise Duty on manufacture of Jewallary
    • Service Tax – Content Supply Services Vs Sale of space for advertisement
    • Forensic Audit – Prevent fraud from occurring – The fraud prevention checklist
    • Direct Tax: FAQs on Equalization Levy

    This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.

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    AUGUST – 2014 (VOLUME – 1)

    Key Topics Covered:

    • Companies Act – Related Party Transactions (Section 188)
    • Companies Act – Provisions, Procedure For Allotment Of Securities By Way Of Private Placement
    • Income Tax – Disallowance Of Expenditure Due To Non-Compliance Of TDS Provisions
    • Service Tax – Place Of Provision Of Service “Service Receiver”

    This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.

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    SEPTEMBER – 2014 (VOLUME–2)

    Key Topics Covered:

    • Income Tax – Alternative Minimum Tax (AMT) Vs Minimum Alternate Tax (MAT)
    • Service Tax – DTA Turnover Vs DTA Unit – SEZ Exemption
    • Service Tax – Audit (Power of Revenue)
    • Companies Act – Amendment to Sec 188
    • Companies Act – Transitional Compliance
    • Companies Act – Statutory Registers to be maintained

    This article is contributed by Partners of SBS and Company LLP - Chartered Accountant Company. You can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it.

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