COMPANY LAW

SUGGESTIONS ON “HOW TO REVIVE POST COVID-19 INDIAN ECONOMY”

I am contributing my suggestions on “How to Revive Post COVID-19 Indian Economy” : 1.) The Government has to take strong measures to boost liquidity in the Market. 2.) To start stabilizing the economy, there should be gradually lifting of the lockdown. 3.) Invite Foreign Companies to invest and to start their units in India …

SUGGESTIONS ON “HOW TO REVIVE POST COVID-19 INDIAN ECONOMY” Read More »

MEASURES TO REVIVE INDIAN ECONOMY FROM CORONA VIRUS (COVID-19) IMPACT

Coronavirus outbreak was first reported in Wuhan, China on 31 December, 2019 and spread throughout world by the end of March 2020 with the number of COVID-19 cases leaning dangerously more than 29,00,000 and the worldwide death toll crossing more than 2,00,000 till the date of writing of this article. The World Health Organization (WHO) …

MEASURES TO REVIVE INDIAN ECONOMY FROM CORONA VIRUS (COVID-19) IMPACT Read More »

COMPARISON BETWEEN CARO 2016 AND CARO 2020

I’m presenting my first article on the topic “Comparison between CARO 2016 and CARO 2020” I’ve briefly specified the subject matter of each clause and the corresponding clause, of that respective matter, in CARO 2016. I’m attaching the link at the end for detailed differences between the both. I hope this article would be of …

COMPARISON BETWEEN CARO 2016 AND CARO 2020 Read More »

MCA

DECODING MCA RELAXATION ON HOLDING OF AGM BY COMPANIES

Overview : > Holding of annual general meetings by companies whose financial year has ended on 31st December, 2019. > Ministry of Corporate Affairs vide General Circular No. 18/2020, F. No.2/4/2020-CL-V dated 21st day of April, 2020 has issued Clarification on Holding of annual general meetings by companies whose financial year has ended on 31st …

DECODING MCA RELAXATION ON HOLDING OF AGM BY COMPANIES Read More »

MCA

MCA ISSUES COVID-19 RELATED FAQs ON CSR CONTRIBUTION

The Ministry of Corporate Affairs vide General Circular No. 15/2020, F. No. CSR-01/4/2020-CSR-MCA dated 10th April, 2020 has issued and published COVID-19 related Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR). Major Update : “‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ is not included in Schedule VII of the Companies Act, …

MCA ISSUES COVID-19 RELATED FAQs ON CSR CONTRIBUTION Read More »

GOVT. TO ISSUE INCOME TAX AND GST REFUNDS IMMEDIATELY

Government of India Ministry of Finance Department of Revenue New Delhi, the 08th April, 2020 In the context of the COVID-19 situation and with a view to provide immediate relief to the business entities and individuals, it has been decided to issue all the pending income-tax refunds up to Rs. 5 lakh, immediately. This would …

GOVT. TO ISSUE INCOME TAX AND GST REFUNDS IMMEDIATELY Read More »

COMPLIANCE RELIEFS IN THE WAKE OF COVID-19 PANDEMIC

To ease the compliance related to Taxation/MCA, our Hon’ble Finance Minister of India Smt. Nirmala Sitharaman has announced major relevant measures, on 24th March, 2020, to fight against the COVID-19 pandemic. Let’s begin with it. COVID-19 The Invest India Business Immunity Platform is launched to help businesses and investors withstand COVID-19, by getting real-time updates …

COMPLIANCE RELIEFS IN THE WAKE OF COVID-19 PANDEMIC Read More »

MCA

RE-ACTIVATION OF DEACTIVATED DIN AND ACTIVE NON-COMPLIANT COMPANIES WITHOUT PENALTY

MCA update for Non Active Director due to non filing of DIR-3 KYC Dated : 31.03.2020 DIN holders of DINs marked as ‘Deactivated’ due to non-filing of DIR-3KYC/DIR-3 KYC-Web and those Companies whose compliance status has been marked as “ACTIVE non-compliant” due to non-filing of Active Company Tagging Identities and Verification (ACTIVE) eform are encouraged …

RE-ACTIVATION OF DEACTIVATED DIN AND ACTIVE NON-COMPLIANT COMPANIES WITHOUT PENALTY Read More »

RELAXATION IN TAXATION, MCA DUE TO COVID-19

INCOME TAX (1.) Extend last date for income tax returns for (FY 18-19) from 31st March, 2020 to 30th June, 2020. (2.) Aadhaar-PAN linking date to be extended from 31st March, 2020 to 30th June, 2020. (3.) Vivad se Vishwas scheme – no additional 10% amount, if payment made by June 30, 2020 (4.) Due …

RELAXATION IN TAXATION, MCA DUE TO COVID-19 Read More »

RAJASTHAN LOCKED DOWN TILL 31st MARCH TO PREVENT COVID FROM SPREADING

Rajasthan Chief Minister Ashok Gehlot on Saturday directed a “complete lockdown” in the state, except for essential services, till March 31. There will be a “complete lockdown”, barring essential and medical services, in Rajasthan from March 22 till March 31 to contain the spread of novel coronavirus and keep people safe, Ashok Gehlot said in …

RAJASTHAN LOCKED DOWN TILL 31st MARCH TO PREVENT COVID FROM SPREADING Read More »

MCA

ALERT : MCA AMENDS PROVISIONS RELATED TO NIDHI COMPANIES

 OVERVIEW : Central Government has recently amended the provisions related to NIDHI under the Companies Act and the Rules (effective from 15.08.2019). WHY AMENDED : > To make regulatory regime for Nidhi Companies more effective and > Also to accomplish the objectives of transparency & > Investor friendliness in corporate environment of the country. Define …

ALERT : MCA AMENDS PROVISIONS RELATED TO NIDHI COMPANIES Read More »

INITIATIVE TO BOOST MSMEs BY THE MINISTRY OF MSME

Ministry of Micro, Small and Medium Enterprises (MSME) vide press release dated 16.03.2020 and Release ID: 1606525 addressed issues related to delayed payments of Micro, Small and Medium Enterprises (MSMEs). Following steps has been taken by the Ministry : (1.) Setting up of MSEFCs : Micro and Small Enterprises Facilitation Councils (MSEFCs) have been set …

INITIATIVE TO BOOST MSMEs BY THE MINISTRY OF MSME Read More »

CORONA : THE COLLAPSE OF ECONOMY

Have you heard a saying by Vladimir Lenin which says that, “There are decades where nothing happens and there are weeks where decades happens.” We all cannot deny that the past few weeks have witnessed a downfall in the global economy, Can we? The outbreak of COVID-19 has undoubtedly created a dent in the global …

CORONA : THE COLLAPSE OF ECONOMY Read More »

MCA

CLARIFICATION REGARDING FILING OF FORMS IN REGISTRY MCA-21

Filing of forms by Insolvency Professional with the MCA : Filing of forms in the Registry (MCA-21) by the Insolvency Professional (IP), Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC), 2016. MINISTRY OF CORPORATE AFFAIRS vide General Circular No. O8/2O2O dated 06.03.2020, has issued clarification for …

CLARIFICATION REGARDING FILING OF FORMS IN REGISTRY MCA-21 Read More »

MCA

SALIENT FEATURES OF CARO [COMPANIES (AUDITOR’S REPORT) ORDER], 2020

MINISTRY OF CORPORATE AFFAIRS vide notification dated 25th February 2020, has published Companies (Auditor’s Report) Order, 2020 in exercise of the powers conferred by : Section 143(11) of the Companies Act, 2013 (18 of 2013) and In suppression of the Companies (Auditor’s Report) Order, 2016, published in the Gazette of India, Extraordinary, Part II, Section …

SALIENT FEATURES OF CARO [COMPANIES (AUDITOR’S REPORT) ORDER], 2020 Read More »

SINGAPORE TAXATION : BASICS TO CORPORATE TAXES IN SINGAPORE

Introduction The Fiscal Policy is the government’s means to influence and regulate the economy by means of revenue and expenditure. The two main tools of fiscal policy are – Taxation (for raising revenue and is the major source of Income for government). Expenditure (on public welfare for achieving desirable social and economic goals). Type of …

SINGAPORE TAXATION : BASICS TO CORPORATE TAXES IN SINGAPORE Read More »

MCA

COMPANIES (INCORPORATION) AMENDMENT RULES, 2020 WHICH WILL COME INTO FORCE W.E.F. 23rd FEB, 2020

MINISTRY OF CORPORATE AFFAIRS vide notification / Gazette id No. CG-DL-E-22022020-216319 issued and published dated 22nd February 2020, has published Companies (Incorporation) Amendment Rules, 2020 in exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013) to amend the Companies (Incorporation) Rules, 2014 Applicability …

COMPANIES (INCORPORATION) AMENDMENT RULES, 2020 WHICH WILL COME INTO FORCE W.E.F. 23rd FEB, 2020 Read More »

MCA

COMPANIES (INCORPORATION) AMENDMENT RULES, 2020 WHICH WILL COME INTO FORCE W.E.F. 15th FEB, 2020

G.S.R……..(E)._ In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (lncorporation) Rules, 2020, namely: Short title and commencement- (1) These rules may be called the Companies (lncorporation) Amendment Rules, …

COMPANIES (INCORPORATION) AMENDMENT RULES, 2020 WHICH WILL COME INTO FORCE W.E.F. 15th FEB, 2020 Read More »

CORPORATE COMPLIANCE CALENDAR FEBRUARY 2022

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF FEBRUARY, 2020

ABOUT ARTICLE : This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” If you think compliance is expensive, try non‐ compliance” COMPLIANCE REQUIREMENT UNDER : Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) Other Statutory Laws Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications …

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF FEBRUARY, 2020 Read More »

CORPORATE UPDATES FOR THE PERIOD 1st JANUARY TO 10th JANUARY, 2020

Good Evening Professionals! This is new Knowledge Initiative by our author CS Lalit Rajput to promote Corporate Governance. We will provide corporate updates after every 10 days to empower professionals. MCA/ROC UPDATE : (1.) Relaxation of additional fees and extension of last date in filing of forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) under …

CORPORATE UPDATES FOR THE PERIOD 1st JANUARY TO 10th JANUARY, 2020 Read More »

MCA

CHANGES IN THE ELIGIBILITY CRITERIA OF ‘APPOINTMENT OF WHOLE TIME COMPANY SECRETARY’ AND ‘SECRETARIAL AUDIT’

(1) Compulsory appointment of Company Secretaries in companies : From 1st April, 2020, every listed company, every other public company and private company having a paid-up share capital of Rs. 10 crore or more shall have a whole -time company secretary. Previously, every company which has a paid-up share capital of Rs. 5 crore or …

CHANGES IN THE ELIGIBILITY CRITERIA OF ‘APPOINTMENT OF WHOLE TIME COMPANY SECRETARY’ AND ‘SECRETARIAL AUDIT’ Read More »

HIGHLIGHTS OF NATIONAL TAX CONFERENCE HELD ON 4th AND 5th JAN, 2020 AT JODHPUR

At Sun City, Jodhpur, 2 days National Tax Conference event (4th and 5th Jan, 2020) has held jointly by the Rajasthan Tax Consultants’ Association, Jaipur (RTCA) and Tax Bar Association, Jodhpur. The evant has held at Dr. S.N. Medical College Auditorium, Residency Road, Jodhpur. Hon’ble Chief Minister of Rajasthan Sh. Ashok Gehlot was the Chief …

HIGHLIGHTS OF NATIONAL TAX CONFERENCE HELD ON 4th AND 5th JAN, 2020 AT JODHPUR Read More »

COMPLIANCE RELATED TO FOREIGN COMPANY UNDER THE COMPANIES ACT, 2013

Definition of Foreign Company : As per definition given under Section 2 (42) of the Companies Act, 2013 ; “FOREIGN COMPANY” means any company or body corporate incorporated outside India which,— (a) has a place of business in India whether by itself or through an agent, physically or through electronic mode; and (b) conducts any …

COMPLIANCE RELATED TO FOREIGN COMPANY UNDER THE COMPANIES ACT, 2013 Read More »

Compliance requirements for the Month of December, 2022

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF JANUARY, 2020

ABOUT THIS ARTICLE : This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance Requirement Under : Income Tax Act, 1961 Goods & Services Tax Act, 2017 (GST) Other Statutory Laws Foreign Exchange Management Act, 1999 (FEMA) SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015 SEBI Takeover …

CORPORATE COMPLIANCE CALENDAR FOR THE MONTH OF JANUARY, 2020 Read More »

COMPLIANCE MONITORING SYSTEM BY MCA (MCA-CMS PORTAL)

MCA-21 is one of the first e-governance initiative from Government of India implemented way back 2006. MCA 21 has gone through various overhauling process during last 13 years.  In may 2019, Government of India has announced that the Ministry of Corporate affairs is planning to implement a Version 3 for ease of doing process.  “The …

COMPLIANCE MONITORING SYSTEM BY MCA (MCA-CMS PORTAL) Read More »