Section 42 of the Companies Act, 2013 (‘CA 2013’) relating to private placement norms for issue of securities, was substituted by the Companies (Amendment) Act, 2017 w.e.f. 07.08.2018. Simultaneously, Companies (Prospectus and Allotment of Securities) Rules, 2014 was amended by the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2018 w.e.f. 07.08.2018. The amendments […]
The Hon’ble Calcutta High Court in the matter Apeejay Tea Ltd. Anr. Vs Union of India & Ors. (Calcutta High Court) has given an interim order dated 08th July, 2021 regarding restraining the respondent’s authorities concerned from deducting tax on source on the basis of the aforesaid provisions of Section 194N till 30th September, 2021. It […]
Offence falls under Special Statute (GST) and IPC at the same time, whether the accused is answerable only for the Special Statue Offence? [Ref: Shri Sentu Dey v. State of Tripura (Criminal Petition No. 14/2021 dated May 28, 2021)] Section 132 of Central Goods and Service Tax Act, 2017 (‘CGST Act’) is a penal provision […]
The Finance Act, 2020 came up with a number of amendments and introductions in the Income Tax Act, 1961 (‘Act’). One of such being the introduction, a New Tax Regime (‘NTR’) has been brought in under the Act. For the purpose of bringing the NTR into action, 2 new sections were inserted by the Government-Section […]
Guidelines under Section 194Q of the Income Tax Act, 1961- Circular No. 13 of 2021 dated 30th June, 2021 The Finance Act, 2021 inserted a new section 194Q in the Income tax Act 1961 (Act) which takes effect from 1st day of July, 2021. Applicability of Section 194Q- “Buyer” means a person whose total sales, […]
New Tax Regime under Section 115BAC- Tax on income of Individuals and Hindu Undivided Family for FY 2020-21 The Finance Act, 2020 has introduced a New Tax Regime (‘NTR’) by inserting a new Section 115BAC -Tax on income of Individuals and Hindu Undivided Family under Income Tax Act, 1961 (‘the Act’) w.e.f. 01.04.2021. Under the said […]
[Ref: Circular No. 92/11/2019-GST dated 07th March, 2019] There are Several Promotional Schemes (like Free Samples, Buy One Get One free offer, Discounts including ‘Buy More, Save More’ offer, Secondary Discount) which are offered by taxable persons to increase sales volume and to attract new customers for their products. Generally, the distribution of free samples […]
Every company required to file Form INC-20A shall file the same within 180 days of its incorporation. Non filling of Form INC-20A allows Registrar of Companies (‘ROC’) one additional ground to strike off the name of your Company from its Register.
DPT–3 form is the statement return which is required to be filed by every company other than a Government Company and a class of company specify, which has accepted deposits under section 73 of the Companies Act, 2013 (‘Act’) and rules made thereunder.
Further relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 during Financial Year 2021-22 The Ministry of Corporate Affairs (‘MCA’) vide General Circular No. 12/2021 dated 30.06.2021 has further extended the time given under earlier General Circular No. 07/2021 dated 03.05.2021. By General Circular No. 11/20121 […]
