"18 September 2019" Archive - Page 3

Revised IEPF authority (Accounting, Audit, Transfer And Refund) Rules, 2019

The Ministry of Corporate Affairs (MCA) by notification dated 14th August, 2019 has further amended the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (the Rules). The amended provisions of these rules shall come into force from 20th August, 2019 except provisions of rule 6 which shal...

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Posted Under: Company Law |

Review of FDI policy on Coal & Lignite, Contract Manufacturing, Single Brand Retail Trading, Digital Media

Press Note No. 4 (2019 Series) 18/09/2019

DPPI has reviewed Foreign Direct Investment (FDI) policy Coal & Lignite, Contract Manufacturing, Single Brand Retail Trading, Digital Media sector vide Press Note No. 4 (2019 Series). Government of India Ministry of Commerce & Industry Department for Promotion of Industry and Internal Trade FDI Policy Section Press Note No. 4 (201...

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Search and Survey operations

Search and survey operations are conducted by the Income Tax Department defined as raid, where the department suspects an individual or business for hoarding illegal money. Powers to carry out search under section 132 and survey under section 133A are important tools in the armory of the Income Tax Department for detecting and preventing ...

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Posted Under: Company Law |

GST Impact Analysis | Additional discount, Free Item Schemes

‘Buy One Get Two Free’ or ‘Get a Bag free on purchasing items worth Rs 5,000/-‘ or ‘Get Additional 10% discount on annual purchases exceeding Rs 2,50,000/-‘ – Goods and Service Tax (GST) Impact Analysis Sales promotion includes several communications activities that attempt to provide added value or i...

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Posted Under: Company Law |

Appeals and Procedures for Filing Income Tax Appeals

Income tax Department department has introduced an e-filing facility for filing of appeal at the first appellate level i.e. the Commissioner of Income-tax (Appeals). This article explains the e-filing facility in simple user-friendly steps and puts forth in simple language, the relevant provisions and procedures under the Income-tax Act r...

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Posted Under: Company Law |

Change in pattern of assessment of elective papers 6A-6F of CA Final New

In the New Scheme of Education and Training, the assessment of elective papers 6A to 6F at the Final level is case study based. Upto May, 2019 examination, the question paper of each elective subject comprised of three case studies for 50 marks, out which a candidate had to attempt any two....

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Posted Under: Company Law |

Additional 15% depreciation on Motor Vehicles- No TDS on cash payments by APMCs

Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cash payments above Rs 1 crore made through APMCs, in order to make immediate payments to farmers for their produce. Further to the announcement made by [email protected] on 23-08-2019, an additional 15% depreciatio...

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Posted Under: Company Law |

Section 232(6) | Saga of ‘Appointed Date’ | Companies Act, 2013

The Ministry of Corporate Affairs vide General Circular No. 09/2019 dated 21st August, 2019 clarified the Ministry’s stand on interpretation of Section 232(6) of the Companies Act, 2013 (Act) dealing with the concept of ‘Appointed Date’. However, before we get into the intricacies of the circular and the clarification it off...

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Posted Under: Company Law |

Section 164 When a director is considered as disqualified

DETAIL NOTE ON SECTION 164 OF THE COMPANIES ACT 2013 VACATION OF OFFICE OF DIRECTOR This article is a detailed research under section 164 and section 167 of the Companies Act 2013 and to decide when and at which date the any person would be considered as disqualified. Illustration : Mr. A was appointed as the […]...

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Posted Under: Company Law |

Contradictory provisions in MSME 2006 and CGST ACT and violation of Doctrine of Unjust Enrichment

Before we understand and deep diving, let us first know what provision actually say on the above two Acts and how the breach of doctrine of unrichment happening….. Sec 15 of Micro, Small and Medium Enterprises Development Act, 2006 states on the Liability of buyer to make payment.- “Where any supplier, supplies any goods or […]...

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Posted Under: Company Law |

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