Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: empanelment
 
 
« News Headlines »
 Income tax returns refunds: Here is where to file grievance
 Can the filling of GSTR-3B be avoided by filing GSTR-1, 2 & 3?
 CII seeks extension of time for filing GST returns
 A tax saver scheme with higher returns
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST

Adhunik to use securities premium account for tax liability
November, 11th 2006

 

Shareholders of Adhunik Metaliks Ltd, at the company's EGM on Friday, authorised it to utilise the securities premium account for meeting the deferred tax liability.

Mr Alok Sarda, CFO of the company said that since the company has undertaken a number of projects, which were in different stages of implementation, for capitalisation and calculation of applicable depreciation, as per the new accounting standards, the company had to take shareholder approval.

It will also have to seek clearances from the Calcutta High Court, NSE and BSE.

The company had its shares listed on April 5, 2006. Incidentally, the company's deferred tax liability, as per the book on March 31, 2006 was Rs 31.98 crore.

Adhunik, has recently filed a project report for iron ore mining at Kulum at Keonjhar in Orissa. The mine, rich with ferrous content of over 65 per cent, is expected to start operation in April 2007.

Its steel making facility at Chadrihariharpur, Rourkela, however, had started production from November 2005 and has been procuring ore from Orissa Mineral Development Corporation. "Ore from our own mine is likely to reduce cost by 45 per cent based on prevailing price," the official said. Adhunik's Rs 437-crore capacity expansion project (to 4.5 tpa from 2.5 tpa auto grade billets and rolled products) is expected to be complete in Q1, 2007-08. It is also in the process of merging Neepaz Tubes, a group company engaged in fabrication and galvanising steel tubes with a capacity 60,000 tpa, with Unistar Galvaniser & Fabricator, a 100 per cent subsidiary.

Institutional holding in the company has gone up in the quarter ending September 30, 2006, after ICICI Prudential's Emerging Star Fund increased its stake to 6.44 per cent (2.58 per cent in the previous quarter). ABN Amro (1.11 per cent) and Carlson (4.52 per cent) represent FII interest in Adhunik.

Jayanta Mallick

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions