MCA vide General Circular No. 15/2020 dated 10th April 2020 has issued and published COVID-19 related FAQs on Corporate Social Responsibility (CSR). Major Update: ‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ is not included in Schedule VII of the Companies Act, 2013 and therefore any contribution to such funds shall not qualify […]
Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, has extended the due date for Filing GST Returns 1. These rules may be called the Central Goods […]
This article contains various Compliance requirements under Statutory Laws for the Month of April 2020. Compliance means adhering to rules and regulations. If you think compliance is expensive, try non‐ compliance” Compliance Requirement Under 1. Income Tax Act, 1961 2. Goods & Services Tax Act, 2017 (GST)& 39th GST Council Meeting Updates 3. Other Statutory […]
♦ Overview Ministry of Corporate Affairs (MCA) has vide General Circular No. 13/2020 dated 30th March, 2020, modified the provisions related to LLP SETTLEMENT SCHEME, 2020. ♦ Revised Timeline : Applicable w.e.f. 01.04.2020 And shall remain into Force upto 30.09.2020. ♦ Previous Scheme: LLP SETTLEMENT SCHEME , 2020 vide General Circular No. 6/2020 dated 04.03.2020 […]
Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/48 issued and publish dated 26th March 2020, has published Further relaxations from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) and the SEBI circular dated January 22, 2020 relating to Standard Operating Procedure due to […]
SEBI vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 dated 27th March 2020, has provide Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic. Applicability : with immediate effect. Relaxations: 1. The disclosure filings under Regulations 30(1), 30(2) and 31(4) of the SEBI (Substantial […]
RBI governor vide Press Conference dated 27.03.2020 has discussed about various relaxation due to COVID 19. 1. Targeted Long Term Repos Operations (TLTROs): Reserve Bank will conduct auctions of targeted term repos of up to three years tenor of appropriate sizes for a total amount of up to ₹ 1,00,000 crore at a floating rate […]
Applicable : w.e.f. 01st day of April 2020 – Announced by FM on 26.03.2020. 1. Rs. 1.7 lakh crore financial package. The ‘Prime Minister Gareeb Kalyan Scheme’ will be of Rs 1.7 lakh crore. 2. FM has announced medical insurance cover of Rs 50 lakh per health worker. 3. PM Gareeb Kalyan Yojana’ will include […]
Securities and Exchange Board of India (SEBI) vide notification No. sebi/covid-19/2020/01 issued and publish dated 24th March 2020, has published SEBI Notification COVID 19. The Ministry of Home Affairs had issued an Order No. 40-3/2020-D dated March 24, 2020 in which various guidelines have been issued laying down the measures to be taken by the […]
MCA Amends Section 4 of Insolvency and Bankruptcy Code, 2016 – Threshold of default under Section 4, IBC for initiation of insolvency proceedings raised to Rs 1 crore Overview : MINISTRY OF CORPORATE AFFAIRS (MCA) vide notification No. S.O. 1205(E) dated 24th March 2020, has amended section 4 of the Insolvency and Bankruptcy Code, 2016 […]
