"17 December 2020" Archive

MCA deffers Applicability of CARO 2020 to FY 2021-22

Notification No. S.O. 4588(E) (17/12/2020)

MCA vide order dated 17.12.2020 has changed the applicability date of Companies (Auditor’s Report) Order, 2020 to the financial years commencing on or after the 1st April, 2021. So, Companies (Auditor’s Report) Order, 2020 (CARO 2020) will be applicable from FY 2021-22. CARO 2016 will continue to be applicable for Financial Year 2020-...

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Rule 26A Purchase of minority shareholding held in demat form

Notification No. G.S.R. 773(E) (17/12/2020)

MCA notifies Rule 26A Purchase of minority shareholding held in demat form vide Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th December, 2020 G.S.R. 773(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 469 ...

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BCAS Representation to CPC on Difficulties faced by the taxpayers

BCAS has made an excellent Representation to CPC on Difficulties faced by the taxpayers alongwith their suggestions to remove the difficulties. Difficulties which BCAS bring to the attention of CPC are as follows:- Providing correct TDS credit, Satisfactory solution to be provided for grievances raised in Income-tax Portal, Demand rectifi...

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Posted Under: Company Law |

Extend Due date for filing Tax Audit Report & ITR

Lucknow CA Tax Practioners’ Association has made a Requested to FM  that the due date for filing of ITRs for all the taxpayers for AY 2020-21 be extended to 31st March, 2021 and the due date for filing the tax audit report also be extended to 28th February, 2021 and further requested to extend the […]...

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Posted Under: Company Law | ,

Companies (Compromises, Arrangements & Amalgamations) Second Amendment Rules, 2020

F. No. 2/ 31/CAA/ 2013 - CL.V (17/12/2020)

(1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Second Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....

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CESTAT allowed Interest on service Tax amount already deposited to ‘Sourav Ganguly’

Sourav Ganguly Vs Commissioner of Service Tax (CESTAT Kolkata)

Sourav Ganguly Vs Commissioner of Service Tax (CESTAT Kolkata) It transpires from the records that after the passing of the order dated November 12, 2012 by the Commissioner, the appellant deposited the confirmed demand of Rs. 1,51,66,500/- on February 26, 2014 and subsequently also deposited an amount of Rs. 50 lacs on March 21/26, 2014 ...

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How to use functionality for Communication between GST Taxpayers

At this time where taxpayers were complaining about the complications of the GST System, GSTN has come up with a new facility. It has recently launched a new feature on the GSTN portal, where it has enabled a facility of 'Communication between Taxpayers' on the GST portal. One can access this feature through Dashboard > Services > User Se...

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Posted Under: Company Law |

Decoding CARO –Proprietary and Governance issues

Central Government, in exercise of the powers, issued the Companies (Auditor’s Report) Order, 2020, (CARO 2020/ ‘the Order’) vide Order number S.O. 849(E) dated 25th February 2020. CARO 2020 was initially applicable for audits of financial year 2019-20 and onwards. Subsequently, its applicability has been deferred by one yea...

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Posted Under: Company Law |

Faceless Assessment- CBIC Clarifications/guidelines

Circular No.55/2020-Customs (17/12/2020)

With a view to achieve this objective, certain key areas, which require immediate attention, have been identified and the following instructions/ guidelines are being hereby issued so as to smoothen the process of Faceless Assessment by the field formations....

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Due dates to file Form GSTR-3B – October 2020 to March 2021

Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 28th October, 2020 , has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, […]...

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Posted Under: Company Law | ,

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