This article contains various Compliance requirements for the Month of January, 2024 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
If you think compliance is expensive, try non‐ compliance”
Compliance Requirement Under:
1. Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications
2. Income Tax Act, 1961
3. Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars
4. Other Statutory Laws and Updates
5. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015
6. SEBI Takeover Regulations 2011
7. Companies Act, 2013 (MCA/ROC Compliance) and Notifications
8. MSME Key Updates
9. Cabinet Decisions / New Acts
- Key Compliances under FEMA / RBI
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / (Filing mode) |
| FEMA ACT 1999 | Not later than 30 days from the date of issue of Capital instrument | FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India. | Form FC-GPR |
| FEMA ACT 1999 | With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier. | Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. The onus of reporting shall be on the resident transferor/ transferee. | Form FC-TRS. |
| FEMA ACT 1999 | Within 30 days from the date of receipt of the amount of consideration. | A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1 | Form FDI LLP-I |
| FEMA ACT 1999 | within 60 days from the date of receipt of funds in | A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa) | Form FDI LLP-II |
| FEMA ACT 1999 | within 30 days from the date of allotment of capital instruments | The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts | Downstream statement -Form DI & reporting at FIFP too |
- RBI Circulars / Notifications: December, 2023
| Sl. | Particulars of the Circulars | Link |
| 1 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click Here |
| 2 | RBI releases data on ECB / FCCB / RDB for October 2023 | Click here |
| 3 | RBI announces rate of interest on Government of India Floating Rate Bond 2031 | Click here |
| 4 | Governor’s Statement: December 8, 2023 | Click here |
| 5 | Statement on Developmental and Regulatory Policies | Click here |
| 6 | Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract | Click here |
| 7 | Premature redemption under Sovereign Gold Bond (SGB) Scheme – Redemption Price for premature redemption due on December 11, 2023 (SGB 2017-18 Series XI) | Click here |
| 8 | Processing of e-mandates for recurring transactions | Click Here |
| 9 | Formation of new district Mauganj in the State of Madhya Pradesh – Assignment of Lead Bank Responsibility | Click here |
| 10. | Investments in Alternative Investment Funds (AIFs) | Click here |
| 11. | Card-on-File Tokenisation (CoFT) – Enabling Tokenisation through Card Issuing Banks | Click here |
| 12 | Reverse Repo transactions – Reporting in Form ‘A’ Return | Click here |
| 13 | Liberalised Remittance Scheme (LRS) for Resident Individuals- Reporting of monthly return and daily transactions | Click here |
| 14 | Trade Credit for imports into India – Submission of return on issuance of bank guarantees for Trade Credits on the Centralised Information Management System (CIMS) | Click here |
| 15 | Reserve Bank of India (Government Securities Lending) Directions, 2023 | Click Here |
- Compliance requirement under Income Tax act, 1961
| Sl. | Compliance Particulars | Due Dates |
| 1 | Due date for deposit of Tax deducted [except under Section 194-IA, Section 194-IB, Section 194M, or Section 194S (by specified person)] or collected for the month of December, 2023. However, all the sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan. | 07.01.2024 |
| 2. | Due date for deposit of TDS for the period October 2023 to December 2023 when Assessing Officer has permitted quarterly deposit of TDS under Sections 192, 194A, 194D or 194H | 07.01.2024 |
| 3 | Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of November, 2023 | 14.01.2024 |
| 4 | Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of November, 2023 | 14.01.2024 |
| 5 | Due date for issue of TDS Certificate for tax deducted under section 194M in the month of November, 2023 | 14.01.2024 |
| 6 | Due date for issue of TDS Certificate for tax deducted under section 194S (by specified person) in the month of November, 2023 | 14.01.2024 |
| 7 | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of December, 2023 has been paid without the production of a challan | 15.01.2024 |
| 8 | Quarterly statement of TCS for the quarter ending December 31, 2023 | 15.01.2024 |
| 9 | Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending December, 2023 | 15.01.2024 |
| 10 | Due date for furnishing of Form 15G/15H declarations received during the quarter ending December, 2023 | 15.01.2024 |
| 11 | Furnishing of statement in Form No. 49BA under Rule 114AAB (by specified fund) for the quarter ending December 31, 2023 | 15.01.2024 |
| 12 | Quarterly TCS certificate in respect of quarter ending December 31, 2023 | 30.01.2024 |
| 13 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of December, 2023 | 30.01.2024 |
| 14 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of December, 2023 | 30.01.2024 |
| 15 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of December, 2023 | 30.01.2024 |
| 16 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S (by specified person) in the month of December, 2023 | 30.01.2024 |
| 17 | Quarterly statement of TDS for the quarter ending December 31, 2023 | 31.01.2024 |
| 18 | Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending December 31, 2023 | 31.01.2024 |
| 19 | Exercising the option to opt for alternative tax regime under Section 115BAA by a domestic company for assessment year 2021-22 Note: The CBDT, via Circular No. 19/2023, dated 23-10-2023, extended the due date for filing of Form no. 10-IC till 31-01-2024 | 31.01.2024 |
| 20 | Intimation by Sovereign Wealth Fund in respect of investment made in India for quarter ending December, 2023 | 31.01.2024 |
| 21 | Intimation by a pension fund in respect of investment made in India for quarter ending December 31, 2023 | 31.01.2024 |
- Important Notifications – For the month of December – 2023:
| Sl. | Particulars of the Notification(s) | File No. / Circular No. | Link(s) |
| 1. | Central Government hereby notifies for the purposes of the said clause, ‘Godavari River Management Board, Hyderabad’ (PAN AAAGG1473Q) | Notification No. 102/2023 | Click Here |
| 2. | Central Government hereby notifies for the purposes of the said clause, ‘Godavari River Management Board, Hyderabad’ (PAN AAAGG1473Q) | Notification No. 102/2023 | Click Here |
| 3. | Guidelines under sub-section (4) of section 194-O of the Income-tax Act 1961 | Circular No. 20/2023 | Click Here |
| 4. | The Income-tax (Thirtieth Amendment) Rules, 2023 | Notification No. 105/2023 | Click Here |
- Compliance Requirement under GST, 2017
A. Filing of GSTR –3B / GSTR 3B QRMP
a) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY
| Tax period | Due Date | Particulars |
| Dec., 2023 | 20th January, 2024 | Due Date for filling GSTR – 3B return for the month of Dec, 2023 for the taxpayer with Aggregate turnover exceeding INR 5 crores during previous year. |
b). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)
| Tax period | Due Date | Particulars | |
| Dec., 2023 | 22nd January, 2024 | Due Date for filling GSTR – 3B return for the month of Jan., 2023 for the taxpayer with Aggregate turnover upto INR 5 crores during previous year and who has opted for Quarterly filing of GSTR-3B | |
| Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep | |||
c). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)
| Tax period | Due Date | Particulars | |
| Dec., 2023 | 24th January, 2024 | Annual Turnover Up to INR 5 Cr in Previous FY But Opted Quarterly Filing | |
| Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi | |||
B. Filing Form GSTR-1:
| Tax period | Due Date | Remarks |
| Monthly return (Dec., 2023) | 11.01.2024 | 1. GST Filing of returns by registered person with aggregate turnover exceeding INR 5 Crores during preceding year. 2. Registered person, with aggregate turnover of less then INR 5 Crores during preceeding year, opted for monthly filing of return under QRMP. |
C. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers
| Form No. | Compliance Particulars | Timeline | Due Date |
| GSTR-5 & 5A | Non-resident ODIAR services provider file Monthly GST Return | 20th of succeeding month | 20.01.2024 |
| GSTR -6 | Every Input Service Distributor (ISD) | 13th of succeeding month | 13.01.2024 |
| GSTR -7 | Return for Tax Deducted at source to be filed by Tax Deductor | 10th of succeeding month | 10.01.2024 |
| GSTR -8 | E-Commerce operator registered under GST liable to TCS | 10th of succeeding month | 10.01.2024 |
D. GSTR – 1 QRMP monthly / Quarterly return
| Form No. | Compliance Particulars | Timeline | Due Date |
| Details of outward supply-IFF & Summary of outward supplies by taxpayers who have opted for the QRMP scheme. | GST QRMP monthly return due date for the month of April, 2022 (IFF). Applicable for taxpayers with Annual aggregate turnover up to Rs. 1.50 Crore. Summary of outward supplies by taxpayers who have opted for the QRMP scheme. | 13th of succeeding month – Monthly Quarterly Return | 13.01.2024 |
E. GST Refund:
| Form No. | Compliance Particulars | Due Date |
| RFD -10 | Refund of Tax to Certain Persons | 18 Months after the end of quarter for which refund is to be claimed |
F. Monthly Payment of GST – PMT-06:
| Compliance Particular | Due Date |
| Due Date of payment of GST for a taxpayer with Aggregate turnover up to INR 5 crores during the previous year and who has opted for Quarterly filing of return under QRMP. | 25.01.2024 |
G. GSTR 11: Statement of inward supply of goods or services or both received by UIN holders – due date 28.01.2024
GSTR-11 is the return to be filed by the persons who have been issued a Unique Identity Number and claims a refund of the taxes paid on their inward supplies.
Due date: Must be filed by the 28th of the month following the month in which inward supply is received by the UIN holders.
H. Monthly Payment of GST – CMP-08:
| Compliance Particular | Due Date |
| Form GST CMP-08 is used to declare the details or summary of self-assessed tax payable by taxpayers who have opted for a composition levy. Period: Oct-Dec, 2023 | 18.01.2024 |
- GST UPDATES – December, 2023:
| Sl. | Notification Particulars | Notification No. | Link (s) |
| 1. | Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Andhra Pradesh | GSTN 616 | Click Here |
| 2. | Advisory: Two-factor Authentication for Taxpayers | GSTN 618 | Click Here |
| 3. | Advisory: Date extension for reporting opening balance for ITC reversal | GSTN 619 | Click Here |
| 4 | Extension of due date for filing of return in FORM GSTR-3B for the month of November, 2023 for the persons registered in certain districts of Tamil Nadu. | 55/2023-Central Tax | Click Here |
| 5 | Seeks to extend dates of specified compliances in exercise of powers under section 168A of CGST Act | 56/2023-Central Tax | Click Here |
| 6 | Judgment of the Honourable Supreme Court in the case of Northern Operating Systems Private Limited (NOS). | Instruction No. 05/2023-GST | Click Here |
- Compliance under Other Statutory LAws
| Applicable Laws/Acts | Timeline / Due Dates | Compliance Particulars | Forms / (Filing mode) |
| EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952) | 15.01.2024 | PF Payment | ECR |
| ESIC (Employees’ State Insurance Act, 1948) | 15.01.2024 | ESIC Payment | ESI Challan |
| Contract Labour (Regulation & Abolition) Act, 1970 | Within 15 Days of commencement/ completion of contract work | Return/Notice by the Principal employer | Form VI-B |
| Contract Labour (Regulation & Abolition) Act, 1970 | Within 15 Days of commencement/ completion of contract work | Notice of commencement/ completion of contract work by the Contractor | Form VI-A |
| Payment of Gratuity Rule | Within 30 Days of applicability of the Act & any change | Notice of applicability of the Act & any change | Form A or B |
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- Updates TRACKER under Labour LAws – Dec., 2023:
| Sl. | Particulars | Link |
| 1 | Compliance of safety and labour issues | Click here |
| 2 | Implementation of Supreme Court verdict in EPF | Click here |
| 3 | Here’s how you can get EPF money in your bank account after leaving a job | Click here |
| 4 | For a decent EPF pension | Click here |
| 5 | New labour laws mandate companies to compensate for over 30 unused leaves | Click here |
| 6 | The landscape of labour law compliance in India | Click here |
| 7 | Want To Check EPF/Provident Fund Balance With UAN Number? Here’s A Step-By-Step Guide | Click here |
| 8 | Key reasons for EPF claim rejections and how to avoid them | Click here |
| 9 | ESIC, Labour Ministry not fully prepared to provide extended coverage under the Code on Social Security: Parliamentary panel | Click here |
5. SEBI – Securities Exchange Board of INDIA
- Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015
A. Quarterly Compliances:
| Sl. No. | Regulation reference (Reg.) | Compliance Particulars | Timeline / Due Date (For the Quarter Ended December, 2022) | Due Dates |
| 1 | 27(2) | Corporate Governance Report | 21 days from end of quarter | 21.01.2024 |
| 2 | 13(3) | Statement of Investor Complaints | 21 days from end of quarter | 21.01.2024 |
| 3 | 31 (1) (b) | Shareholding Pattern | 21 days from end of quarter | 21.01.2024 |
B. Regular / Annual Compliances:
| REG NO | REGULATION NO | PARTICULARS | TIMELINE |
| 47 Advertisements in Newspapers. | 47 (3) Advertisements in Newspapers | Financial results at 47 clause (b) of sub-regulation (1), shall be published within 48 hours of conclusion of the meeting of board of directors at which the financial results were approved. | 48 HOURS |
| 46 Website | 46(2)(s) | The listed entity shall disseminate the following information under a separate section on its website separate audited financial statements of each subsidiary of the listed entity in respect of a relevant financial year, uploaded at least 21 days prior to the date of the annual general meeting which has been called to inter alia consider accounts of that FY.] | 21 days prior 1 days prior to the date of AGM |
| Annual Disclosure requirements for large entities | Circular No. SEBI/HO/DDHS/CIR/P/2018/144 | Annual Disclosure to be made by an entity identified as a Large Corporates (To be submitted to the Stock Exchange(s) within 45 days of the end of the FY) (Applicable for FY 2020 and 2021) | Within 45 days of the end of the FY |
C. Other Quarterly compliance which included half year compliance except FR (Financial Results)
| Reg No | Regulation No | Particulars | Timeline |
| Intimation | Reg 29 read with Reg 33 | intimation regarding item specified in clause 29(1) (a) to be discussed at the meeting of board of directors shall be given at least five days in advance (excluding the date of the intimation and date of the meeting), and such intimation shall include the date of such meeting of board of directors. | at least 5 working days in advance, excluding the date of the intimation and date of the meeting |
| Intimations and Disclosure of events or information to Stock Exchanges. | 87B: Intimations and Disclosure of events or information to Stock Exchanges. READ WITH PART E OF Schedule III | The listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information: | 24 HOURS |
| Valuation, Rating and NAV disclosure. | 87C(1) (iii) | An issuer whose security receipts are listed on a stock exchange shall ensure that: the net asset value is calculated on the basis of such independent valuation and the same is declared by the asset reconstruction company within 15 days of the end of quarter. | 15 Days |
| – Certificate from Practicing Company Secretary. . | Regulation 40 (9) (Regulation 40 (10)- certificate mentioned at sub-regulation (9), shall be filed with the stock exchange(s) simultaneously.) | The listed entity shall ensure that the share transfer agent and/or the in-house share transfer facility, as the case may be, produces a certificate from a practicing company secretary within 30 days from the end of the financial year, certifying that all certificates have been issued within thirty days of the date of lodgement for transfer, subdivision, consolidation, renewal, exchange or endorsement of calls/ allotment monies. | Within 30 days from the end of the financial year. |
| Indian Depository Receipt holding pattern & Shareholding details. | 69(1) | The listed entity shall file with the stock exchange the Indian Depository Receipt holding pattern on a quarterly basis within fifteen days of end of the quarter in the format specified by the Board. | 15 days from end of each quarter |
D. Event based Compliances
| Reg No | Regulation No | Particulars | Timeline |
| 30 Disclosure of events or information. | 30(6) AND Part A of Schedule III | The listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information | 24 HOURS |
| 30 Disclosure of events or information. | 30(6) AND sub-para 4 of Para A of Part A of Schedule III | The listed entity shall disclose to the Exchange(s), within 30 minutes of the closure of the meeting held to consider the following: a) dividends and/or cash bonuses recommended or declared or the decision to pass any dividend and the date on which dividend shall be paid/dispatched; b) any cancellation of dividend with reasons thereof; c) the decision on buyback of securities; d) the decision with respect to fund raising proposed to be undertaken e) increase in capital by issue of bonus shares through capitalization including the date on which such bonus shares shall be credited/dispatched; f) reissue of forfeited shares or securities, or the issue of shares or securities held in reserve for future issue or the creation in any form or manner of new shares or securities or any other rights, privileges or benefits to subscribe to; g) short particulars of any other alterations of capital, including calls; h) financial results; i) decision on voluntary delisting by the listed entity from stock exchange(s). | 30 MINUTES |
| 31A: Conditions for re-classification of any person as promoter / public | 31A(8) | The following events shall deemed to be material events and shall be disclosed by the listed entity to the stock exchanges as soon as reasonably possible and not later than twenty four hours from the occurrence of the event: (a) receipt of request for re-classification by the listed entity from the promoter(s) seeking re-classification; (b) minutes of the board meeting considering such request which would include the views of the board on the request; (c) submission of application for re-classification of status as promoter/public by the listed entity to the stock exchanges; (d) decision of the stock exchanges on such application as communicated to the listed entity; | 24 HOURS |
| 34 Annual Report. | 34(1)(b) | In the event of any changes to the annual report, the revised copy along with the details of and explanation for the changes shall be sent not later than 48 hours after the annual general meeting.] | 48 HOURS |
| 44 Meetings of shareholders and voting | 44(3) | The listed entity shall submit to the stock exchange, within two working days of the conclusion of its General Meeting, details regarding the voting results in the format specified by the Board. | 2 working days |
| 47 Advertisements in Newspapers. | 47 (3) Advertisements in Newspapers | The listed entity shall publish the information specified in 47(1) in the newspaper simultaneously with the submission of the same to the stock exchange(s). The same is reproduced below 47(1) (a) notice of meeting of the board of directors where financial results shall be discussed (c )statements of deviation(s) or variation(s) as specified in sub-regulation (1) of regulation 32 on quarterly basis, after review by audit committee and its explanation in directors report in annual report; (d) notices given to shareholders by advertisement | Simultaneously |
| – | SCHEDULE III PART PART A 7(A) | resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor | 24 HOURS |
| – | SCHEDULE III PART PART A 7(B) | In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities: i. Detailed reasons for the resignation of independent directors as given by the said director shall be disclosed by the listed entities to the stock exchanges. ii. The independent director shall, along with the detailed reasons, also provide a confirmation that there is no other material reasons other than those provided. iii. The confirmation as provided by the independent director above shall also be disclosed by the listed entities to the stock exchanges along with the detailed reasons as specified in sub-clause (i) above.] | 7 days from the date of resignation |
| 7 Share Transfer Agent. | Reg 7(4) & (5) Share Transfer Agent. | The listed entity shall intimate any change or appointment of a new share transfer agent, to the stock exchange(s) within seven days of entering into the agreement. | 7 DAYS |
| 29 | Reg 29(1) | The intimation required under 29 (1), shall be given at least two working days in advance, excluding the date of the intimation and date of the meeting Reg 29(1) is reproduced below: (b) proposal for buyback of securities ; (c) proposal for voluntary delisting by the listed entity from the stock exchange(s); (d) fund raising by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, debt issue, preferential issue or any other method and for determination of issue price: Provided that intimation shall also be given in case of any annual general meeting or extraordinary general meeting or postal ballot that is proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. (e) declaration/ recommendation of dividend, issue of convertible securities including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend. (f) the proposal for declaration of bonus securities where such proposal is communicated to the board of directors of the listed entity as part of the agenda papers: | at least 2 working days in advance, excluding the date of the intimation and date of the meeting |
| 31 Holding of specified securities and shareholding pattern. | Reg 31 (1)(a) | The listed entity shall submit to the stock exchange(s) a statement showing holding of securities and shareholding pattern separately for each class of securities, in the format specified by the Board from time to time – one day prior to listing of its securities on the stock exchange(s); | 1 day prior to listing of its securities on the stock exchange(s |
| 31 | Reg 31 (1 (c) | within ten days of any capital restructuring of the listed entity resulting in a change exceeding two per cent of the total paid-up share capital: | within 10 days of any capital restructuring |
| 39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities. | 39(2) | The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within a period of thirty days from the date of such lodgement. | 30 Days |
| 39 Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities | 39(3) | The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within two days of its getting information. | 2 days of its getting information. |
| 40 Transfer or transmission or transposition of securities. | 40 (3) | On receipt of proper documentation, the listed entity shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of fifteen days from the date of such receipt of request for transfer | 15 days |
| 40 Transfer or transmission or transposition of securities. | 40 (3) | the listed entity shall ensure that transmission requests are processed for securities held in dematerialized mode within seven days after receipt of the specified documents: | 7 Days |
| 40 Transfer or transmission or transposition of securities. | 40 (3) | the listed entity shall ensure that transmission requests are processed for securities held in physical mode within twenty one days after receipt of the specified documents: | 21 Days |
| 46 Website | 46 (3)(b) | The listed entity shall update any change in the content of its website within two working days from the date of such change in content. | 2 working days |
| 50 Intimation to stock exchange(s). | 50(1) | The listed entity shall give prior intimation to the stock exchange(s) at least eleven working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable. | 11 working days |
| 50 Intimation to stock exchange(s). | 50(3) | The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non-convertible debt securities or any other matter affecting the rights or interests of holders of non- convertible debt securities or non – convertible redeemable preference shares is proposed to be considered. | 2 working days advance intimation excluding the date of the intimation and date of the meeting |
| 52 Financial Results. | 52 (4) & (5) | The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4), submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents | 7 working days |
| 52 Financial Results. | 52 (4) & (8) | The listed entity shall, within two calendar days of the conclusion of the meeting of the board of directors, publish the financial results and statement referred to in reg 52 (4), in at least one English national daily newspaper circulating in the whole or substantially the whole of India. | two calendar days of the conclusion of the meeting |
| 57 Other submissions to stock exchange(s). | 57(1) | The listed entity shall submit a certificate to the stock exchange within two days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities | within 2 days |
| 60 Record Date | 60(2) | The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the stock exchange(s) may agree to or require specifying the purpose of the record date. | 7 working days advance intimation excluding the date of the intimation and date of the meeting |
| 78 Record Date. | 78(2) | The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record date | notice in advance of at least 4 working days |
| 82 Intimation and filings with stock exchange(s). | 82(2) | The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered. | 2 working days in advance, excluding the date of the intimation and date of the meeting, |
| 82 Intimation and filings with stock exchange(s). | 82(3) | The listed entity shall submit such statements, reports or information including financial information pertaining to Schemes to stock exchange within seven days from the end of the month/ actual payment date, either by itself or through the servicer, on a monthly basis in the format as specified by the Board from time to time: Provided that where periodicity of the receivables is not monthly, reporting shall be made for the relevant periods. | within 7 days |
6. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 issued and publish dated 27th March 2020, has published Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic”.
| Sl. No. | Regulation No. | Compliance Particular | Compliance Period (Due Date) |
| 1 | Regulation 30(1) | Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified. | Omitted through introduction of SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2021 Applicable w.e.f. 01.04.2022 |
| 2 | Regulation 30(2) | The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may | |
| 3. | Regulation 31(1) read with Regulation 28(3) of Takeover Regulations AUGUST 7, 2019 CIRCULAR https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.html | The promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company. | within 2 (two) working days (Provision Insertion: “Provided that the aforesaid disclosure requirement shall not be applicable where such encumbrance is undertaken in a depository”) |
| 4. | Regulation 31(4) | Disclosure of encumbered shares | Promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the 31st March, in such target company in such form as may be specified. |
- SEBI Circulars Tracker: December, 2023
| Sl. | Particulars | Link |
| 1. | Extension of timeline for implementation of provisions of circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 on Redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform and linking it to Online Dispute Resolution platform. | Click Here |
| 2. | Revised framework for computation of Net Distributable Cash Flow (NDCF) by Real Estate Investment Trusts (REITs) | Click Here |
| 3. | Bandhan US Treasury Bond 3-7 year Fund of Fund | Click Here |
| 4. | Revised framework for computation of Net Distributable Cash Flow (NDCF) by Infrastructure Investment Trusts (InvITs) | Click Here |
| 5. | Consultation paper on Framework for issuance of subordinate units and Unit Based Employee Benefits – REITs and InvITs | Click Here |
| 6. | Consultation paper on review of provisions of NCS Regulations and LODR Regulations for ease of doing business and introduction of fast track public issuance of debt securities | Click Here |
| 7. | Credit of units of AIFs in dematerialised form | Click Here |
| 8. | Upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) | Click Here |
| 9. | Informal Guidance request received from Athena Alternative Investments Trust in relation to Regulation 18 of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 | Click Here |
| 10. | Simplification of requirements for grant of accreditation to investors | Click Here |
| 11. | Principles of Financial Market Infrastructures (PFMIs) | Click Here |
| 12. | Amendment to Circular dated July 31, 2023 on Online Resolution of Disputes in the Indian Securities Market | Click Here |
| 13. | Business Continuity for Clearing Corporations through Software as a Service (SaaS) Model | Click Here |
| 14. | SEBI Bulletin – December 2023 [MSExcel] [Annexure Tables] | Click Here |
| 15. | Consultation paper on ‘Introduction of optional T+0 and optional Instant Settlement of Trades in addition to T+1 Settlement Cycle in Indian Securities Markets’ | Click Here |
7. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;
| Applicable Laws/Acts | Due Dates | Compliance Particulars | Forms / Filing mode |
| Companies Act, 2013 | Within 15 days of appointment of an auditor. | The Ministry in its General Circular No. 12/2018 dated 13th December, 2018 clarified that filing of Form NFRA-1 is applicable only for Bodies Corporate and ruled out filing by Companies as defined under sub-section (20) of Section 2 the Act. | E – Form NFRA -1 |
| Companies Act, 2013 | Within 30 days of the board meeting | Filing of resolutions with the ROC regarding Board Report and Annual Accounts. The details of the resolutions passed should be filed. | MGT-14 (Filing of resolution with MCA) |
| Companies Act, 2013 | One Time compliances | Registration of Entities for undertaking CSR activities – Trust/ Society/ Section 8 Company need to file before Acceptance of Donation as CSR w.e.f. 01st April 2021. | E-Form CSR-1 |
- Due dates of ROC Annual Filings :
(if AGM date – 30.09.2023)
| Sl. No. | Particulars | Due Date Particulars | E- Form | Due Date |
| 1 | Appointment of Auditor | Within 15 days from the conclusion of AGM | ADT-1 | 14.10.2023 |
| 2 | Filing of financial statement and other documents with the ROC | Within 30 days from the conclusion of the AGM, other than OPC (In case of OPC within 180 days from the close of the financial year) | AOC-4, AOC-4 (CFS), AOC-4 XBRL, AOC-4 Non-XBRL | 29.10.2023 |
| 3 | Filing of annual return by a company. | Within 60 days from the conclusion of AGM MGT – 7 A: for OPC and small companies. | MGT-7 / MGT 7A 29.11.2023 | |
| 4 | Filing of Cost Audit Report with the Central Government | Within 30 days from the receipt of Cost Audit Report | CRA-4 | |
| 5 | Compliance certificate by PCS – Section 92(2) | Applicable to Companies having paid-up share capital Rs. 10 crores or more or Turnover Rs. 50 crore or more | MGT – 8 Attachment to MGT – 7 | |
*After the expiry of due dates, the respective forms can be filed with respective ROC via MCA21 portal by paying statutory filing and delayed filing fee, in accordance with the provisions of the rules and regulations as mentioned under the law
- Important Updates – December, 2023
| Sl. | Particulars of the Circulars | Link |
| 1 | Ministry of Corporate Affairs could widen probe into MG Motor India books | Click Here |
| 2 | Corporate affairs ministry says 53 Chinese foreign companies established place of business in India | Click Here |
| 3 | Stakeholders please note that post registration on the V3 portal, the user shall receive their V2 user ids on their registered email within 5 hours. | Click Here |
| 4 | MCA preps stage for virtual hearings | Click Here |
| 5 | Online money scam: Have started investigation: ROC J&K | Click Here |
8. MSME (Ministry of Micro, Small and Medium Enterprises)
MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy.
- Key Updates – for the month of December – 2023
| Sl. | Particulars | Link |
| 1 | RBI’s risk weight increase to hurt MSME loans? | Click here |
| 2 | COVID-19 hit MSMEs can tap new relief window from January 1 | Click here |
| 3 | E-commerce can be bridge between MSMEs and global market: Piyush Goyal | Click here |
| 4 | NBFC credit growth to MSMEs more than 3x that of banks: RBI report | Click here |
| 5 | Rs.13,000 crore have been provided for the PM Vishwakarma Scheme from FY 2023-2024 to FY 2027-28 | Click here |
| 6 | Udyam Sakhi Portal provides information for making women entrepreneurs self-reliant | Click here |
| 7 | E-commerce-related compliances that need more focus to help MSMEs grow digitally | Click here |
9. Cabinet Decisions / New Acts
| Sl. | Particulars | Link |
| 1 | Cabinet approves Minimum Support Price for Copra for 2024 season | Click here |
| 2 | Cabinet approves improvement and widening of 135 km stretch of Khowai-Harina road in Tripura | Click here |
| 3 | Cabinet approves construction of New 4.56 km long, 6-Lane Bridge across River Ganga connecting Digha and Sonepur in Bihar | Click here |
| 4 | Cabinet approves the Migration and Mobility Agreement between India and Italy | Click here |
| 5 | Lok Sabha passes Press and Registration of Periodicals Bill | Click here |
| 6 | Cabinet approves Memorandum of Understanding (MoU) signed between India and Tanzania on Cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformations | Click here |
| 7 | Cabinet approves Additional allocation of Rs 2500 crore for continuation of Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit till 30.06.2024 | Click here |
| 8 | India: Cabinet approves funding for railways, e-buses, Digital India. Key points | Click here |
This Calendar / Compliance Tracker is updated till 31st December, 2023 with all Laws / Regulations and their respective amendments.
Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information. Many sources have been considered including newspapers (ET, BS & HT etc.).
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