Secretarial Standards:
The Section 118(10) of the Companies Act, 2013 mandates companies to observe Secretarial Standards with respect to general and Board Meetings specified as such by the Institute of Company Secretaries of India. Secretarial Standards apply to all companies. One Person Companies are excluded. The Ministry of Corporate Affairs has accorded its approval to the Secretarial Standards on Meetings of the Board of Directors (SS-1) and Secretarial Standards on General Meetings (SS-2) specified by the Institute of Company Secretaries of India (ICSI). The Institute of Company Secretaries of India formally launched the Secretarial Standards at New Delhi from the hands of Hon’ble Justice Shri Vibhu Bhakhru, Senior Judge, Delhi High Court. The Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) have been notified by the Institute of Company Secretaries of India in the Official Gazette and will take effect from July 1, 2015.
CBDT:
The Central Board of Direct Taxes has amended the Income Tax Rules, 1962, which may be called as the Income‐tax (6th Amendment) Rules, 2015 and shall come into force on the 1st day of April, 2015. Through this amendment the exempted portion of Transport Allowance paid to employees has been revised and raised from Rs. 800/- per month to Rs. 1600/- per month. Further, the Transport allowance granted to an employee, who is blind or orthopaedically handicapped with disability of lower extremities, the limit is raised from Rs. 1,600/- per month to Rs. 3,200/- per month.
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