This is a question which is always in the mind of business owners. Whether there is any violation if my Company give loan to the director. Is there any penalty? Let me give you a detailed informed to solve your problem Can a company give loan to a director? Company (Private & Public whether small, […]
Companies Act, 2013 has decided to introduce a Scheme namely Companies Fresh Start Scheme, 2020 (CFSS-2020) condoning the delay in filing the above-mentioned documents with the Registrar
The lockdown and overall decline in consumption due to coronavirus outbreak might lead to a severe decline in the GST revenue mop-up for March and April 2020. Although there is no clear agreement as to what extent the GST collection will be hit, the pandemic’s impact will be seen in both current and the next […]
Scope of Equalisation Levy Extended The Finance Act, 2016 introduced Equalisation Levy with effect from 01-06-2016. This levy is charged at the rate of 6% from the consideration paid or payable to a nonresident person for the online advertisement services. The Finance Bill, 2020, as passed by the Lok Sabha, has extended the scope of […]
The Central Government and Ministry of Corporate Affairs vide its General Circular No. 11/2020 dated 24.03.2020, has launched the Companies Fresh Start Scheme, 2020 in order to provide a one-time opportunity to the Companies to complete their pending compliances by filing necessary documents, annual returns, financial statements and other necessary documents as required through MCA […]
Start-up means an entity, incorporated or registered in India not prior to ten years, with annual turnover not exceeding INR 100 crore in any preceding financial year, working towards innovation, development, deployment or commercialisation of new products processes or services driven by technology or intellectual property. Eligibility criteria for start-up companies: Must be a private […]
The government has thus provided various relief measures to curb the issues faced by taxpayers as discussed in the previous article as per press release. What additional relief measures has the government announced on 03.4.2020 by amending law?
In wake of COVID1-9 pandemic, Ministry of Corporate Affairs, Government of India, with a view to provide relief to companies has introduced ‘Companies Fresh Start Scheme, 2020‘ (CFSS-2020). This Scheme offers an opportunity to companies to make good their non-filing related defaults, irrespective of duration of default, and to make a fresh start as a […]
State/Union Territory Governments are advised to take urgent steps to ensure availability of these essential goods, by invoking provisions of the Essential Commodities (EC) Act 1955. These measures include fixing of stock limits, capping of prices, enhancing production, inspection of accounts of dealers and other such actions.
Salient features of section 115BAA of the Income tax Act. 1961 (status as on 30th March 2020) as amended by Finance Act 2020 and as approved by the President of India on 27th March 2020. Background: Inorder to promote growth and investment and to be competitive as a nation (especially with respect to tax rates), […]
