"31 March 2020" Archive - Page 7

Companies Fresh Start Scheme 2020 (CFSS-2020)

Companies Fresh Start Scheme, 2020 (CFSS-2020) -The Ministry of corporate affairs issued a scheme known as Companies fresh start Scheme 2020 (CFSS-2020). -This Scheme provides immunity to stakeholders who unable to file specified documents including annual filing to ROCs. -CFSS-2020 also grant immunity for any prosecution or proceeding ag...

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Posted Under: Company Law |

Mandatory applicability of CSAS-1 to CSAS-4 extended to 01.10.2020

Mandatory applicability of ICSI Auditing Standards CSAS-1 to CSAS-4 is hereby extended for Audit Engagements accepted by the Auditor on or after 1st October, 2020....

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Posted Under: Company Law |

Due Date for Income Tax Investments for FY 2019-20 – 30th June or 31st March 20

Due Date for Income Tax Investments for Financial Year 2019-20 – 30th June or 31st March 20 The finance minister, Nirmala Sitharaman, at a press conference dated 24th March 2020 has announced that taxpayers have time until June 30, 2020 to complete their tax-saving exercise for FY 2019-20. The earlier deadline was March 31, 2020. [&hell...

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Posted Under: Company Law |

Do Financial Year 2019-20 been extended to 30th June 2020

Rumor 1- Based on Mis-Interpretation of RBI Notification There are lots of confusions as to 31st March vs. 30th June 2020 extension by the announcement of Finance Minister Smt. Nirmala Sitharam. The messages are being shared widely on social media with a claim that Reserve Bank of India (RBI) has extended financial year closing till 30 ...

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Posted Under: Company Law |

Nutshell of Companies Fresh Start Scheme 2020

In pursuance of the Government of India’s efforts to provide relief to law abiding companies and in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the ‘Companies Fresh Start Scheme, 2020‘ a first of its kind opportunity to companies to make good any filing related defaults, irrespective of duration o...

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Posted Under: Company Law |

Thin Capitalization – Part II

In part I of this article, we tried to analyzed and understood provision of sub-section (1) of section 94B. In this part, we try to analyze and understand remaining portion of section 94B as below,  Proviso to sub-section (1) Provided that where the debt is issued by a lender which is not associated but an […]...

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Posted Under: Company Law |

How Contract drafting is different from Contract Vetting?

Contract drafting is a process where in the drafting person will draft a contract from the starting point (Title of the Agreement) to the end point (Miscellaneous segment/signature block). In contract vetting process, drafting person will be a reviewer and will just work on the existing contract template (which is already drafted one) to ...

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Posted Under: Company Law |

Companies Fresh Start Scheme, 2020- Analysis

Companies Fresh Start Scheme, 2020 The MCA vide its circular dated 30th March 2020 has issued Companies Fresh Start Scheme, 2020 to promote defaulting companies to make a fresh start on a clean slate and waive the additional fee as charged under section 403 of Companies Act, 2013 which is applicable on certain forms to […]...

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Posted Under: Company Law |

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