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Archive: January, 2023

Posts in January, 2023

Company Secretary: Compliance and Governance

January 24, 2023 5682 Views 0 comment Print

Discover the crucial role of a Company Secretary (CS) in ensuring compliance with legal and regulatory requirements under the Companies Act, 2013. Learn about their responsibilities, advisory role in governance, and contributions to Corporate Social Responsibility (CSR). Prakasha And Co, a team of experienced Company Secretaries in Bangalore, offers expert compliance and governance services.

What is TDS under Section 194C?

January 24, 2023 57084 Views 3 comments Print

Learn about TDS under Section 194C of the Income Tax Act, applicable when making payments in pursuance of a contract. Explore provisions, time of TDS, threshold limits, and rates for individuals and other payments. Discover circumstances where TDS is not applicable, and understand the calculation process. Get insights on specified persons, work definitions, and FAQs for clarity on compliance. Stay informed to ensure accurate TDS deduction and meet legal requirements.

FAQ’s on MCA V-3 – 56 forms of Companies Act, 2013

January 24, 2023 31320 Views 2 comments Print

Explore FAQs on MCAs V-3 portal and the 56 forms of the Companies Act, 2013, effective from January 23, 2023. Learn about changes in filing processes, information requirements, and form attachments. Get insights on the incorporation process, DSC registration, and other essential aspects of MCA V-3. Stay informed about the categorization of entities into large corporations, mid-sized corporations, and small/start-ups, each with specific compliance requirements. Stay updated on the latest amendments and procedures for a seamless filing experience.

Amendment to Listing obligations and disclosure requirements of 2023

January 24, 2023 14418 Views 2 comments Print

Stay updated on SEBIs amendments to the Listing Obligations and Disclosure Requirements (LODR) Regulations of 2023, enhancing the listing regime for companies. Explore changes in corporate governance norms, disclosure requirements, and regulations on related party transactions. Learn about categorization of entities into large corporations, mid-sized corporations, and small/start-ups, each with specific compliance requirements. Gain insights into provisions on insider trading, prevention of market manipulation, and measures for investor protection.

What is Goods & Service Tax & GST Registration Number

January 24, 2023 4200 Views 0 comment Print

GSTIN (Goods and Services Tax Identification Number) is a unique 15- digit number to every taxpayer, either taxpayer is dealer or supplier or any business entity.

Registered Valuers: Surrender and Expulsion from Membership

January 24, 2023 2079 Views 0 comment Print

Stay informed about the Companies (Registered Valuers and Valuation) Rules, 2017, with a focus on Surrender of Membership and Expulsion rules. Explore details on temporary surrender, conditions for acceptance, revival, and procedures for surrendering or expelling membership. Comply with the guidelines to avoid grievances or disciplinary proceedings. Keep track of bye-laws 9 for registration conditions and ensure adherence to the Code of Conduct.

Section 234A interest not chargeable if Assessee filed return within due date

January 23, 2023 2766 Views 0 comment Print

Bokaro Power Supply Co. Pvt Vs Addl. CIT Special Range(ITAT Delhi) In the written submissions the assessee has agitated regarding charging of interest of Rs. 48,069/- u/s. 234 A of the Act and submitted that the company has electronically uploaded form 3CEB on 30th November 2015 as well as the Income Tax Return on same […]

Availment & passing of fake/ineligible ITC – HC Grants bail to accused

January 23, 2023 2058 Views 0 comment Print

Prosecution case against petitioner is that he created fake firms for availment and passing of fake/ ineligible Input Tax Credit (ITC) to facilitate existing beneficiary firms.

Provisions of section 56(2)(viia) cannot be invoked on buyback of own share

January 23, 2023 5748 Views 0 comment Print

ITAT held that provisions of section 56(2)(viia) of are applicable only in cases where purchased share become property in the hands of buyer company and, if shares are of any other company.

Sales tax subsidy for development of industries is capital receipt

January 23, 2023 1737 Views 0 comment Print

If purpose of incentive or subsidy was to enable assessee to set up a new unit or to expand existing unit then receipt of subsidy was of capital in nature.

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