Clarification with regard to creation of deposit repayment reserve of 20% u/s. 73 (2) (C) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 – COVID-19 – Extension of time-regarding. General Circular No. 34/2020 File No.02/08/2020-CL-V Government of India Ministry […]
Maansarovar Motors Private Ltd. Vs Assistant Commissioner (Madras High Court) Conclusion: Every person who is liable to pay tax in terms of the Act shall remit the tax either in cash or by way of adjustment of credit available in the Input Tax Credit (ITC) register. Where delay is made in remitting the tax, no […]
♦ Introduction to Section: -Section 206C of the Income Tax Act provides for the collection of Tax at Source (TCS). –TCS is collect on specified goods like Alcoholic Liquor for human consumption, tendu leaves, scrap etc. -In order to widen and deepen the tax, a two new sub-section (1H) is inserted with effect from 1.10.2020. […]
Ministry of Corporate Affairs had issued Companies (Auditor’s Report) Order, 2020 (hereinafter “CARO 2020”) vide Order no. S.O. 849(E) dated 25th February, 2020 in place of the existing Companies (Auditor’s Report) Order, 2016 (“CARO 2016”) dated 29th March 2016. Initially, CARO 2020 was effective for the financial years commencing on or after the 1st April, […]
Goa increases threshold of applicability of Contract Labour Act from 20 to 50 and provides for compounding of offences. Any offence punishable under sub-sections (1) and (2) of section 22 and section 24 may, either before or after the institution of the prosecution, on an application by the alleged offender, be compounded by such officer or authority as the State Government may, by notification in the Official Gazette, specify in this behalf for the amount as specified in the table below.
Validity of all the Pre-Shipment Inspection Agencies (PSIAs) as listed in the Appendix 2G of A&ANF, is extended up to 31.12.2020 or until the new list of PSIAs is notified, whichever is earlier. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade PUBLIC NOTICE No. 20/2015-2021 New Delhi […]
MCA on 28.09.2020, vide various circulars and notification extended the date of various schemes to 31.12.2020 which were launched for ease of doing Business, Schemes extended are as follows:- 1. Companies Fresh Start Scheme, 2020 2. LLP Settlement Scheme, 2020 3. Scheme for relaxation of time for filing forms related to Creation or Modification of […]
Q.1 What are the Provisions applicable to MSME-1 Form? Ans. Order 2 and 3 dated 22 January, 2019 issued under Section 405 of the Companies Act, 2013 Q.2 What is the Objective of MSME-1 Form? Ans. furnishing half yearly return with the registrar in respect of outstanding payments to Micro or Small Enterprises
ARE YOU SELECTING RIGHT.? In this article features different investment products have been elaborated along with the comparison of returns according to the investment tenure. This will help the investor to decide for himself to choose the correct product comparing Time, Returns & Taxability each of them. INVESTMENT FOR A LONGER TENURE PPF NPS * […]
The following are the Disclosures under Regulation 10(5), 10(6) and 10(7) – Intimation/reporting to Stock Exchanges in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and Regulation 7 (2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 Regulations 1. Under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, […]
