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The Insolvency and Bankruptcy Board of India has constituted a Working Group for recommending the strategy and approach for implementation of the provisions of the Insolvency and Bankruptcy Code, 2016 to deal with insolvency and bankruptcy in respect of (i) Guarantors to Corporate Debtors, and (ii) Individuals having Business, and drafting related Rules and Regulations.
This Ministry vide Circular no. 04/2017 dated 16.05.2017 has issued a clarification that applications rejected by the Regional Director under Section 22(1) (ii) (b) of Companies Act, 1956 on the ground of expiry of limitation period cannot be reconsidered on a fresh application made under Section 16(1)(a) of the Companies Act, 2013.
Cash flow statement is not mandatory for private limited companies which are start –up companies. Thus, Cash flow statement will not be required for One person Company, Small Company, Dormant Company and Private limited Company (if such Company is start-up company)
We Indians are going to witness the biggest tax revolution ever in independent India. The long awaited GST will be rolling out on 1 July 2017. Though everything is set for GST there are certain issues that require attention. One of such is GST on immovable property.
Increasing inflation, shift to nuclear families, and the fast track change in life style patterns throw a financial challenge which can be addressed only by life insurance. Your financial plan needs to be in sync with your life stage and the requirements that are very particular to your specific stage in life. The need for life insurance coverage changes with the change in your life stage.
Previously, Ministry of Corporate Affairs by notification dated 5th June, 2017 has given several exemptions to Private Limited Companies. Via Notification dated 13th June, 2017 MCA has added more exemptions by amending the notification dated 5th June, 2015.
The way forward: 1. If you are a Taxpayer having received Acknowledgement Reference Number (ARN): You should be able to download the Provisional Registration Certificate from “Download Certificates” at GST website from 27th June 2017. 2. If you are a Taxpayer, who has saved the enrolment form with all details but has not submitted the […]
