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Archive: 05 May 2021

Posts in 05 May 2021

Various ROC Forms And Their Due Dates

May 5, 2021 7851 Views 0 comment Print

Article compiles Due dates of various ROC forms with Relevant Applicable Provisions of Companies Act, 2013. It Compiles information about Form INC 20A, ADT-1 (Appointment of Auditor), ADT-3 (Resignation of Auditor), DIR-3 KYC (Verification of Din of a Director), MBP-1, DPT-3, MSME –I, AOC-4 (OPC), MGT-7 (OPC), AOC-4 (Every Co. Except OPC) ADOPTED FS, AOC-4 […]

ROC Compliance Calendar For FY 2021-22

May 5, 2021 10359 Views 0 comment Print

Article content ROC Compliance applicable on the Listed Companies, Unlisted public Companies and Private Companies according to the applicability of Section. Article Further define Section, Form, Purpose, whether e-form need to submit with ROC or not, Timeline, Applicability. MCA Circular no. 06/2021 dated 03.05.2021 was considerd at the time of preparing this Article. S. N. […]

MCA relaxes Additional Fees under Company Law & LLP Act 2008

May 5, 2021 3003 Views 0 comment Print

Relaxation on Additional Fees being Levied under Companies Act, 2013 and LLP Act, 2008 Introduction: MCA has relaxed additional fees on certain forms under the Companies Act, 2013 and LLP Act, 2008 vide General Circular No. 06/2021 dated 03/05/2021. This comes in the wake of Current Pandemic Covid-19 situation in the country. Applicability: Every form […]

Extension of GST Compliance due to 2nd Wave of COVID-19

May 5, 2021 9834 Views 0 comment Print

Introduction: 1. COVID–19 situation has been absolutely alarming and the Central & State Governments alongwith local authorities are trying their level best to combat the current situation. To ease the burden, there are certain relaxations announced by the CBIC like the relaxations announced in 2020. The present note explains the relaxations announced vide various notifications […]

Buyer cannot be punished 1st for default of the seller under GST ?

May 5, 2021 11523 Views 1 comment Print

Genuine Buyer can take the benefit from the above case if the facts of the case are the same. Further such type of action by the department against theGenuine buyer will not be justified. The seller should be punished first for his wrong deeds.

SS Lotus and its modern day Implications

May 5, 2021 5874 Views 0 comment Print

This case comes as a result of a ship crash arising in the high seas on the night of 2nd August 1926. The two crashing vessels were SS Lotus a French ship and Bouz-Kourt a Turkish Vessel. As a result of the crash the Turkish vessel broke into two causing the loss of 8 Turkish […]

CBDT notifies rules for LTC Cash Voucher Scheme

May 5, 2021 9216 Views 1 comment Print

CBDT notifies rules for LTC (Leave Travel Concession) Cash Voucher Scheme [Section 10(5)] vide which LTC Exemption of Rs. 36000 per family member For FY 2020-21 available to Employees of Both Private & Government Sector. Rules are notified vide Notification No. 50/2021-Income Tax Dated: 5th May, 2021 by inserting Sub-Rule 1A & IB in Rule […]

Guidelines on Standard Domestic Travel Insurance Product

May 5, 2021 675 Views 0 comment Print

Indian travel market is one of the biggest markets in the world. As per reports, around 36% of Indian households undertake trips for one purpose or other both within and outside the country. It is desired that all travels undertaken should be safe.

Can Govt extend IGST exemption on import of oxygen concentrators by way of gift by Individuals: HC ask CG

May 5, 2021 363 Views 0 comment Print

We are of the view that since the respondent has gone this far, it could move further, and extend the exemption, to even individuals, to enable them to obtain imported oxygen concentrators by way of a gift, albeit, without having to pay IGST.

Bonus, Commission paid to Directors as per Agreements & within company law limits allowable

May 5, 2021 990 Views 0 comment Print

Hamilton & Co. Ltd. Vs DCIT (ITAT Kolkata) We note that the payments in question was made to Mrs. Rekha Jalan and Mr. S.K. Jalan, who were directors of the assessee company. These payments were made pursuant to agreements for payment of bonus and commission copies of which were furnished to the Revenue. The payments […]

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