As Finance Minister Nirmala Sitharaman is scheduled to present the Budget for the financial year 2022-23 on 1st February 2022. The expectations from the Indian corporate sector in line with the stability of the Indian economy, positive growth, demand generation, job creation, incentives, lower tax rates etc. Few of them have been summarized below: (1.) …
Expectations For Corporate Sector From Union Budget 2022-23 Read More »
Amendment in Section 403 of the Companies Act, 2013 and notification of Companies (Registration Offices and Fees) Amendment Rules, 2022 w.e.f. 01st July, 2022 This is to inform you that the Central Government has appointed the 01st July, 2022 as the date on which the following provisions of the Companies (Amendment) Act shall come into …
Given the pervasive impact of technology in education, many ed-tech companies have started offering courses, tutorials, coaching for competitive exams, etc. in an online mode. In this background, the parents, students and all stakeholders in school education have to be careful while deciding on opting for online content and coaching being offered by a host …
Govt issue Advisory to citizens regarding use of caution against Ed-tech Companies Read More »
Company is an artificial person created by Law. Two human agencies, through which a company acts, are members of the company and Board of directors. The Board is a managerial body to whom is entrusted the whole management of the company. It is constituted by the members. Directors are accountable to the members as much …
Comprehensive guide to Loans under Companies Act , 2013 (Including Deposits) Read More »
A preliminary analysis has been done by National Financial Reporting Authority (NFRA) on the key financial parameters of the companies registered in India from their MCA-21 filings and it is found that the fees paid to auditors by a large majority of Micro, Small and Medium Companies (MSMCs) are way below what an audit, when …
As per attached order of ROC Mumbai, the office has granted extension to a company for holding AGM. AGM Extension 2021- Key Provisions & Draft Application CS LALIT RAJPUT
Cabinet approves amendments to LLP Act Limited Liability Partnership Amendment Bill, 2021 The Cabinet on 28th day of July, 2021, Wednesday, approved amendments to the Limited Liability Partnership (LLP) Act for decriminalising offences under the law as the government looks to improve ease of doing business and encourage start-ups.LLPs are becoming popular among start-ups. Currently, …
There is no definition of the term “Shell Company” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties etc. This was stated by Union Minister of State …
Government identified 2,38,223 companies as shell companies between 2018-2021 Read More »
We thought it would help to give you a sense of what’s available to you by subscribing to this 38th WEEKLY CORPORATE AFFAIRS Newsletter- · SEBI Updates · MCA Updates · RBI Updates · IBC Law Updates · Labour Law Updates · PRESS Information · IPO & Investment Section · IRDAI (Insurance Sector) Updates · Department of Telecommunication · MSME Updates · Competition Commission of India · Cabinet Decisions / New Laws …
Ministry of Corporate Affairs ) MCA) notification dated 07thJune, 2021 has notifiedthe Companies (Incorporation) 4th Amendment Rules 2021 in exercise of the powers conferred under Section 469 (1) & 469 (2) of the Companies Act, 2013, further to amend the Companies (Incorporation) Rules, 2014. Applicability: from the date of publication in Official Gazette. 1. Changes …
Highlights: Companies (Incorporation) 4th Amendment Rules 2021 Read More »
The Competition Commission of India (CCI) approves proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. by Imola Acquisition Corporation. The proposed combination concerns the proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. together with its parent companies (i) GCL Investment Management Inc. and GCL Investment Holding Inc. …
CFO Certificate under CSR Rules _ Draft Format Date: ………. The Board of Director, ……………………………… …………………………….. Sub: Certificate under Rule 4 of CSR Rules, 2014 Dear Sirs, This is to certify that funds of Rs…Lakhs so disbursed for Corporate Social Responsibility (CSR) activity for financial year 2020-21 has been utilized for the purpose and in …
Nainaram Meghwal, a daily wage laborer from Dungarpur, a small village near Roht in Pali, was turned into a diamond business worth Rs 23.80 crore by the GST fraud gang. Through a NREGA mate, fraudulent documents were obtained, then opened a fake company in his name and started GST theft and bogus billing.
Corporate Compliance Calendar – Nov. 2020 (Track due dates) About Article : This article contains various Compliance requirements for the Month of November, 2020 under 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 …
Corporate Compliance Calendar – Nov. 2020 (Track due dates) Read More »
AGM EXTENSION 2020 – MCA Clarification for the FY 31.03.2020
Corporate Tax in Dubai : An Overview Dubai, a major business center in the Middle East has been treated as a tax haven for the Investors / Businessmen. The Taxation system is very satisfactory for the Businessmen and Investors. The corporate tax is set at a maximum rate in the oil and bank sectors in …
CAIT Plans boycott of China products from rakhi to diwali Indian goods will be treded. The apex organization Confederation of All India Traders (CAIT) is going to make these festivals special. CAIT has claimed that every upcoming festival will be completely Indian, that is, Chinese festivals will be completely boycotted in these festivals and India’s …
CAIT PLANS BOYCOTT OF CHINA PRODUCTS FROM RAKHI TO DIWALI, INDIAN GOODS WILL BE TRADED Read More »
Decoding CBIC Clarification in Respect of Levy of GST on Director’s Remuneration (Circular No. 140/09/2020-GST dated 10th June, 2020) Overview : CBIC (Central Board of Indirect Taxes and Customs), Government of India, Ministry of Finance, Department of Revenue, GST Policy Wing vide Circular No: 140/10/2020 – GST, File No. CBEC-20/10/05/2020 -GST dated 10th June, 2020 …
DECODING CBIC CLARIFICATION IN RESPECT OF LEVY OF GST ON DIRECTOR’S REMUNERATION Read More »
Highlights of “Aatma Nirbhar Economic Package” : Part-5 KEY HIGHLIGHTS : Today’s steps will focus on these seven areas : > MGNREGA > Health and Education > Businesses and Covid > Decriminalization of Company’s Act > Ease of doing business > Public Sector Enterprises and related matters > State governments and resources related to state …
HIGHLIGHTS OF “AATMA NIRBHAR ECONOMIC PACKAGE” : PART-5 Read More »
Tax Defaulters Be Alert : Tax Department is Not on Leave Key highlights > Tax department is not silent during COVID-19 ; > CBDT asked officers to not issue notices for now ; > Collect data that will help settle pending litigation ; > Using the lockdown to build stronger cases against defaulters. Overview Due …
TAX DEFAULTERS BE ALERT : TAX DEPARTMENT IS NOT ON LEAVE Read More »
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 »
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 »
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 …
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 »
Background : The Background on which the whole discussion of RCM Liability on Directors Remuneration is connected with the Notification 13/2017 CTR dated 28.06.2017 called as the RCM notified services list. In this list as per the entry number 6 of this notification services supplied by a Director of a company or a body corporate …
ANALYSIS OF GST LIABILITY ON DIRECTOR’S REMUNERATION Read More »
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 »
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 »
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 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 »
