Reserve Bank of India (RBI) has introduced a series of regulatory amendments to encourage the use of the Indian Rupee in cross-border transactions. These changes, notified through various amendments to the Foreign Exchange Management Act (FEMA), aim to simplify foreign exchange practices, provide greater clarity, and promote ease of doing business in India.
Explore the revised format of Form DIR-2 as per the Companies (Appointment and Qualification of Directors) Amendment Rules, 2022. Understand the changes and amendments for director appointments.
Understanding the rules and regulations of taking a loan from directors or shareholders under Companies Act 2013.
WHO IS AN INDEPENDENT DIRECTOR? Independent Director is Director other than a managing director or a Whole time Director or a nominee Director who fulfils all criteria as given in Section 149(6) along with Rule 4 and Rule 5 of the Companies (Appointment and Qualification of Directors) Rules, 2014. In general sense, an independent director […]
WHAT IS FORM MGT-8 AND ITS APPLICABILITY Form MGT-8 is a certification given on a company’s annual return by a practising company secretary, as per the Companies Act 2013, under Section 92(2). Provisions Under Companies Act 2013: According to Section 92(2) of the Companies Act, 2013 read with rule 11(2) of Companies (Management and Administration) […]
SPICE+ (PLUS) FORM (New Web Based Form for Company Incorporation) INTRODUCTION OF NEW WEB BASED SPICe+ FORM Keeping in view the ease of doing business, new form SPICe+ is notified for the incorporation of a company and incidental registrations. The form SPICe+ replaces the existing SPICe form. While SPICe is an E-form, SPICe+ is an integrated Web […]
The ministry of corporate affairs (MCA) has in furtherance with the MCA Circular No. 10/2020, come up with the ‘Companies Fresh Start Scheme 2020’ as Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID-19, to enable companies make good any filing-related defaults, irrespective of duration of default, and make a fresh start as a fully compliant […]
The finance minister, Nirmala Sitharaman, at a press conference dated 24th March 2020 has announced that taxpayers can complete their tax-saving exercise and statutory compliances for FY 2019-20 till June 30, 2020. The earlier deadline was March 31, 2020. It’s a big relief to the Taxpayers given by the government. But still, it has a […]
On 23rd March 2020, the Ministry of Corporate Affairs declared donations by the companies to Prime Minister’s emergency fund set up to fight against the Coronavirus pandemic will qualify as Corporate Social Responsibility (CSR) expenditure.
MODIFIED LLP SETTLEMENT SCHEME, 2020 Ministry of Corporate Affairs (MCA) has in relation to Circular 06/2020 dated 04.03.2020, has brought certain modifications to the existing LLP Settlement Scheme 2020 in order to support and enable Limited Liability Partnership (LLP) registered in India to focus on taking necessary measures to combat the COVID-19 threat and to […]
