The Registrar of Companies imposed penalties after a company filed its annual return 245 days late in violation of Section 92 of the Companies Act, 2013. Despite claims of an inadvertent procedural lapse, the adjudicating authority held the company and its directors liable and levied monetary penalties.
The 2026 amendment revises the definition of fair value to include tangible, intangible assets and underlying synergies, and mandates a structured multi-valuer mechanism. It also prescribes clearer timelines and introduces safeguards where valuation estimates differ significantly.
The government has notified procedures for export authorization of an additional 5 LMT of wheat flour under HS Code 1101. Applications must be filed online within a fixed window and will be allocated by a Special EFC based on eligibility and export performance.
Discover practical strategies to reduce expenses while maintaining quality and momen-tum. From AI tools to cash flow planning, these cost-cutting tips help protect margins in a tight economy.
GSTN has launched an online facility allowing eligible taxpayers to opt out of Rule 14A registration. Filing of pending returns and Aadhaar authentication are mandatory pre-conditions.
This article explains what qualifies as agricultural income under Section 2(1A), why it is exempt under Section 10(1), and how partial integration affects taxpayers with mixed income. It clarifies judicial interpretations and practical examples to prevent misuse and ensure correct tax treatment.
The ROC Chhattisgarh held that repeated return of official letters marked Not Known proved non-compliance with Section 12(1) of the Companies Act. The company and its directors were penalised under Section 12(8) for failing to maintain a functional registered office.
The RBI has issued draft Directions requiring AD Category-I banks to report offshore INR foreign exchange derivative contracts undertaken by related parties. The move aims to plug transparency gaps in the OTC derivative market and improve pricing efficiency.
The Ministry of Finance has amended Notification 77/2023 to revise drawback figures for specific tariff items under Chapter 71. The updated rates increase the amounts in column (4), impacting exporters dealing with the specified goods.
The ROC imposed penalties for incorrect disclosures in Form MGT-7A, including errors in board meeting records and shareholding details. The order confirms that defective annual return filings attract liability under Section 450, even when filed voluntarily for adjudication.
