Consolidation Of Claims Under Section 38 And Verification Of Claims Under Section 39 Under Insolvency And Bankruptcy Code 2016 SECTION 38. Consolidation of claims (1) The liquidator shall receive or collect the claims of creditors within a period of thirty days from the date of the commencement of the liquidation process. (2) A financial creditor […]
Satish Kumar Vs ITO (ITAT Delhi) It is an admitted fact that assessee filed reply in response to the notice under section 148 of the I.T. Act and submitted before A.O. that original return filed before him may be treated as return filed in response to the notice under section 148 of the I.T. Act. […]
It is general opinion regarding section 44AD that if turnover is less than 1 crore/ 50 lakhs, and claimed profit is less than 8%/6%, then one has to get its books of account audited. Before Finance Act, 2016 following conditions was mentioned u/s 44AD(5): “Notwithstanding anything contained in the foregoing provisions of this section, an […]
Registered office is an official address, registered on the MCA portal in name of the company via its memorandum and article of association and supporting documents required during its incorporation. For necessary correspondence like receiving notices, posts, bills etc. form the government departments, banks, public etc., the address should be understandable, comprehensible and unambiguous. Since […]
Taxes paid under following Acts are covered by Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 Central Excise, Service Tax Other Indirect tax enactments namely The Agricultural Produce Cess Act,1940 The Coffee Act, 1942 The Mica Mines Labour Welfare Fund Act, 1946 The Rubber Act, 1947 The Salt Cess Act, 1953 The Medicinal and Toilet Preparations […]
The e-form BEN-2 is the prescribed form released by the ministry of corporate affairs vide notification dated 8th February 2019, wherein every company has to file a return to the ROC for following purposes 1. For declaration of significant beneficial ownership under section 90 2. For change in significant beneficial ownership 3. For declaration of […]
e-form DPT-3 applicability and implications The Ministry of Corporate Affair vide its notification dated January 22, 2019 had directed Every Company to file the e-Form DPT-3, except the following: Government Company; Non-banking and finance company; and Banking Company Before January 22, 2019, only the company, who accepted the Deposits were required to file a return of deposit […]
Voluntary Liquidation of Company (Section 59 of the Insolvency and Bankruptcy Code, 2016) > Application for Voluntary Liquidation:- A Company who intends to liquidate itself voluntarily and has not committed any default on any debt to any person may initiate voluntary liquidation proceedings. A Company may choose to be wound up voluntarily under several circumstances […]
Under the Goods and Services Tax (GST), the government has announced a transition plan for taxpayers to adapt to new simpler return forms. To ease this transition process and encourage familiarization, the new form will be available on a trial basis from July to September. In its 31st meeting, the GST Council had decided that a […]
Draft CS (Amendment) Regulations, 2019 A Step Towards Implementing & Executing Vision New ICSI 2022 THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under Act of Parliament (Under Jurisdiction of Ministry of Corporate Affairs) “For the soul there is never birth nor death. Nor, having once been, does he […]
