MCA:
MCA has introduced new eForm ADT-1 which is now available for filing w.e.f 20th Oct 2014. Now onwards Form ADT-1 should not be filed as attachment to Form GNL-2. The Form ADT – 1 has some new features viz, details of joint auditors, Number of financial year(s) to which appointment relates, whether the appointment of auditor is within the limits of twenty companies as specified in section 141(3)(g) of the Companies Act, 2013. Further following documents are mandatory required to be attached with the Form ADT – 1, viz, Copy of the intimation sent by Company, Copy of written consent given by auditor & Copy of resolution passed by the Company.
CBDT
CBDT has issued clarification regarding deduction under Section 10A/10AA on transfer of Technical Manpower in the case of software industry. It has been clarified that the assessee may opt for any of the two alternatives and comply with the conditions prescribed in that. Accordingly, transfer of re-deployment of technical manpower from existing units to a new unit located in SEZ in the first year, shall not be construed as splitting up provided manpower so transferred does not exceed 50% of the total technical manpower employed in the unit. Further circular shall be applicable only in case of assessee is engaged in the development of software in SEZ and shall not apply to the assessment which have been completed.
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