"08 May 2021" Archive

DCGI approves anti-COVID drug developed by DRDO for emergency use

DCGI approves anti-COVID drug developed by DRDO for emergency use An anti-COVID-19 therapeutic application of the drug 2-deoxy-D-glucose (2-DG) has been developed by Institute of Nuclear Medicine and Allied Sciences (INMAS), a lab of Defence Research and Development Organisation (DRDO), in collaboration with Dr Reddy’s Laboratories (DRL...

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Posted Under: Corporate Law |

GST refunds – FEMA perspective

Export trade is regulated by the Directorate General of Foreign Trade (DGFT) and its regional offices, functioning under the Ministry of Commerce and Industry, Department of Commerce, Government of India. Policies and procedures required to be followed for exports from India are announced by the DGFT, from time to time. We are aware that,...

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NPS: Tax provisions on investment & Withdrawal

NPS (National Pension System) : Tax provisions on investment & Withdrawal Investment Deduction: –Section 80CCD (1): Employee Contribution up to Rs. 1.5 lac under Sec 80CCE -Section 80CCD (1B): Employee Contribution Rs. 50,000 over and above the deduction of Rs. 1.5 lakh -Section 80CCD (2): Employer Contribution up to 10% of s...

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Posted Under: Corporate Law |

Salary refunded to Comply with Company Law cannot be taxed

DCIT Vs Rajamannar Thennati (ITAT Ahmedabad)

DCIT Vs Rajamannar Thennati (ITAT Ahmedabad) The assessee was employed with Sun Pharma Advance Research Co. Ltd. as whole time director of the company with maximum salary of Rs. 3.5 crores as per the resolution passed in the annual general meeting of the company dated 31st July, 2012. Since there was limit for payment of […]...

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SC direction on Covid precautions in prisons

In re Contagion of Covid 19 Virus in Prisons (Supreme Court of India)

In re Contagion of Covid 19 Virus in Prisons (Supreme Court) Hon’ble Supreme Court The authorities to ensure that proper medical facilities are provided to all prisoners who are imprisoned. The   spread   of Covid­19 virus should be controlled in the prisons by regular testing being done of the prisoners but also the jail [&helli...

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Customs Circular on accepting Undertaking Instead of Bond

Circular No. 09/2021-Customs 08/05/2021

CBIC has decided to restore the facility of acceptance of an undertaking in lieu of bond by Customs formations from the date of issue of this Circular till 30.06.2021. Importers/Exporters availing this facility shall ensure that the undertaking furnished in lieu of bond is duly replaced with a proper bond by 15.07.2021....

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MCA relaxes time for filing forms related to creation/modification of charges

Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 The Central Government in exercise of its powers under Section 460 read with Section 403 of the Act and the Companies (Registration Offices and Fees) Rules, 2014 (Fees Rules) has decided, vide MCA General Circular No. 07/2021 [...

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Posted Under: Corporate Law |

Suo Moto GST Registration Cancellation to GST Revocation – Never to Miss Opportunity

Dear friends, in past few months GST Department has Suo Moto cancelled GST Registration of many dealers which creates a very harsh situation for MSME Sector which are already struggling with cash crunch and other business-related problem created by National lockdown due to Covid situation. There are many reasons due to which GST Registrat...

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Posted Under: Corporate Law |

Change of name of company – SEBI (LODR), 2015 & Companies Act, 2013

Change in name of the company as per SEBI LODR 2015 AND Companies Act, 2013 During the tenure of the company there are many reasons for change in name of the company like change in object clause or convert itself from one form of company to other form, rectification of name of the company or […]...

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Posted Under: Corporate Law |

Shifting of Registered Office of Company within Local Limits of City, Town or Village where it is Presently Situated

SHIFTING OF REGISTERED OFFICE OF THE COMPANY WITHIN THE LOCAL LIMITS OF THE CITY, TOWN OR VILLAGE WHERE IT IS PRESENTLY SITUATED MEANING OF REGISTERED OFFICE: Registered office of company is the official address of the company where any communication related to the company is sent. As it is the public record therefore different Government...

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Posted Under: Corporate Law |

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