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Applicability of Law(s): Chapter XXI, Part A Section 366 to 374 of Companies Act 2013 The Companies (Authorized to Registered) Rules, 2014. Mode(s) / Method(s) of Conversion: Form a New Company as per prescribed under Companies Act 2013 with Conversion form. Prepare Execution deed to transfer the business together with all the assets and liabilities. […]
Ministry of Corporate affairs (MCA) on 3rd December released Companies (Cost Records and Audit) Amendment Rules, 2018. MCA has released draft rules earlier for public comments. However the rules published are very much different than what was being offered for public comments.
1. As per section 42 of companies act 2013, a company may, subject to provisions of this section, make a private placement of securities. 2. A private placement shall be made only to a selected group of persons who have been identified by the board, whose number shall not exceed fifty or such higher amount as may be prescribed.
The Union Cabinet in its Meeting on 6th December, 2018 has approved the following proposal for streamlining the National Pension System (NPS). Enhancement of the mandatory contribution by the Central Government for its employees covered under NPS Tier-I from the existing 10% to 14%.
Micro, Small and Medium Enterprises (MSMEs), despite the important role played by them in the economic fabric of the country as they are the backbone of the Indian economy; continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds, infrastructure and logistics, entrepreneur […]
Section 169 of Companies Act, 2013 talks about removal of a director by members. Section 169(1) Ordinary resolution is required to remove a director; Director appointed by Tribunal under section 242 shall not be removed; Independent director if reappointed for second term shall be removed by Special Resolution only. 169(1) not apply if directors are […]
Provision of the Act were written in a progressive manner which allows the non-residents to take away the rightfully earned money without any tax deduction provided that they make an application to the Assessing Officer u/s 197 of the Act in the prescribed form (i.e. Form 13).
BCCI Vs Commissioner of Service Tax (CESTAT Mumbai) it is undisputedly admitted that appellants have provided the program feed to the M/s MSM Singapore at the venue of match which is in India and not outside. The programme feed as provided by the appellant, is encrypted and then uplinked by the said M/s MSM/ WSG […]
It has been decided to relax the additional fees payable by companies on CRA-4 (Cost Audit Report in XBRL format) upto 31.12.2018, wherever additional fee is applicable.
It was held that Amount received by assessee from his father out of sum received by father for transfer of mining lease right to a Company in which assessee was shareholder cannot be treated as deemed dividend income of the assessee under section 2(22)(e) as sum was not received on behalf of Assessee and it was for a commercial transaction.
