"14 December 2016" Archive

Companies (Compromises, Arrangements and Amalgamations) Rules, 2016

GSR No. 1134(E) (14/12/2016)

These rules may be called the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016 applicable from 15th December 2016....

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Digitisation of the payment process: Where India stands

Among 141 participating countries, India ranked 81st on the Global Innovation Index in 2015. This year, India’s ranking improved to 66th.This is all thanks to the developments India has been making. The latest such development is demonetisation. It has increased the countrys dependence on digital payment processes. ...

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Posted Under: Company Law |

Provision for Supply of Goods to Job Worker under Revised GST Law

First of all, one need to understand the definition of Job work under Revised GST law . After that it will be easier to understand the provision relating to supply of goods to job worker....

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Posted Under: Company Law |

Comparative Analysis of Changes Made in Input Tax Credit- Part-II

A list of exclusions has been provided wherein it is specified that the credit shall not be available for motor vehicles and other conveyances except when used for making taxable supplies like supply of such conveyances, transportation of passengers, imparting training or driving or for transportation of goods. ...

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Posted Under: Company Law |

Compliance Calendar under IEPF rule & records to be maintained

The MCA came through Notification dated 5th September, 2016 effective from 7th September, 2016 rules for IEPF such rules called Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016....

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Posted Under: Company Law |

Process to get back shares from IEPF

All shares in respect of which [dividend has not been paid or claimed for seven consecutive years or more shall be] transferred by the company in the name of Investor Education and Protection Fund along with a statement containing such details as may be prescribed:...

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Posted Under: Company Law |

Return revised to change cash balance /Income may face Scrutiny

It is brought to the notice of tax payers that any instance coming to the notice of Income-tax Department which reflects manipulation in the amount of income, cash-in-hand, profits etc. and fudging of accounts may necessitate scrutiny of such cases so as to ascertain the correct income of the year and may also attract penalty/prosecution ...

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Posted Under: Company Law |

Cleaning system from black money & corruption high on PM’s agenda

(14/12/2016)

Presently, cleaning the system from black money and corruption is very high on my agenda. This comes closely after digitisation and introduction of GST....

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Posted Under: Company Law |

Demonetisation is a step in direction of less cash economy: FM

FM Said that Demonetisation is actually a step in the direction of less cash economy. It's our strategy that from high cash dominated economy we should become a less cash economy where the amount of paper currency comes down. Cash will still exist and there would be a greater digitisation. ...

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Posted Under: Company Law |

BJP denies corruption allegation against Kiren Rijiju

The Congress Party has made a wild allegation of corruption in the NEEPCO under Kameng Hydro Power Projects in Arunachal Pradesh....

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Posted Under: Company Law |
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