Corporate Compliance Calendar For The Month of July, 2020 contains Compliance Requirement Under Income Tax Act, 1961, Goods & Services Tax Act, 2017 (GST), Other Statutory Laws, Foreign Exchange Management Act, 1999 (FEMA), SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015, SEBI (Depositories and Participants) Regulations 2018), SEBI Takeover Regulations 2011, SEBI (Prohibition of Insider Trading) Regulations, 2015, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (Buyback of Securities) Regulations, 2018, Companies Act, 2013 (MCA/ROC and LLP Compliance), Due dates of LLP Return Filing, Due dates of ROC Return Filings and Investor Education and Protection Fund.

1. Compliance requirement under Income Tax act, 1961

Applicable Laws/Acts Compliance Particulars Due Dates Revised Due Dates
Income Tax Act, 1961 Filing of original return for the Assessment Year 2019-20 u/s 139 (1) 30-07-2020 30-09-2020
Income Tax Act, 1961 Filing of belated return for the Assessment Year 2019-20 u/s 139 (4) 30-06-2020 30-09-2020
Income Tax Act, 1961 Filing of revised return for the Assessment Year 2019-20 u/s 139 (5) 30-06-2020 30-09-2020
Income Tax Act, 1961 TDS/ TCS Return for quarter ending 31.03.2020 (Q4 of F.Y. 2019-20) for Government Offices 30-06-2020 15-07-2020
Income Tax Act, 1961 TDS/ TCS Return for 31.03.2020 (Q4 of F.Y. 2019-20) quarter 30-06-2020 31-07-2020
Income Tax Act, 1961 Date of issuance of TDS certificate to employees in form 16A and other in form 16 15-07-2020 15-08-2020
Income Tax Act, 1961 Investments for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C, 80D, 80G etc. for the A.Y. 20-21 i.e. F.Y. 19-20 30-06-2020 31-07-2020
Income Tax Act, 1961 Investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB 30-06-2020 30-09-2020
Income Tax Act, 1961 Furnishing of Form 24G by an office of the Government for the month of:

  • February 2020
  • March 2020
  • April to November 2020
15-03-2020 30-04-2020 Within 15 days from the end of the month 15-07-2020

15-07-2020

31-03-2020

Income Tax Act, 1961 New procedure for registration, approval or notification entities under u/s 10(23C), 12AA, 35 and 80G 01.06.2020 01.10.2020
Income Tax Act, 1961 Form 24QB, 24QC and 24QD of February and March 2020 (Section 200 read with Rule 31A or Section 206C read with Rule 31AA) 30-03-2020 30-04-2020 30-06-2020
Income Tax Act, 1961 Date of filing of declaration and payment of tax under VI VAD SE VISH WAS 30-06-2020 31-12-2020
Income Tax Act, 1961 Due date for any of the following actions, except mentioned above, under the the Wealth-Tax Act, 1957, Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Chapter VII of Finance (No. 2) Act, 2004 (dealing with Securities Transaction Tax), Chapter VII of Finance Act, 2013 (dealing with Commodities Transaction Tax), Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Chapter VIII of Finance Act, 2016 (dealing with Equalisation Levy) and Direct Tax Vivad se Vishwas Act, 2020 by any Authority, Commission or Tribunal:

  • passing order
  • issuance of notice, intimation, notification, sanction or approval
  • completion of proceedings
  • any other action
  • filing of appeal, reply, application
  • furnishing of reports, document, return, statement or any such record
20-03-2020 to 31-12-2020 31-03-2021
Income Tax Act, 1961 Due date for any of the following actions, except mentioned above, under: the Wealth-Tax Act, 1957, Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Chapter VII of Finance (No. 2) Act, 2004 (dealing with Securities Transaction Tax), Chapter VII of Finance Act, 2013 (dealing with Commodities Transaction Tax), Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Chapter VIII of Finance Act, 2016 (dealing with Equalisation Levy) and Direct Tax Vivad se Vishwas Act, 2020 by the Taxpayers and/or Authority:

  • filing of appeal, reply, application
  • furnishing of reports, document, return, statement or any such record
20-03-2020 to 31-12-2020 31-03-2021
  • Important Notifications:
Sl. No. Particulars of the Notification(s) File No. / Circular No. Notification Link(s)
1. One-time relaxation for Verification of tax-returns for the Assessment years

201S-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV form and processing of such returns – reg.

Circular No. 13/2020/

F. No. 225/ 59/2020/ITA-1I

LINK
2. Clarification in relation to notification issued under clause (v) of proviso to section 194N of the Income-tax Act, 1961 (the Act) prior to its amendment by Finance Act, 2020 (FA, 2020)-Reg Circular No.14/2020 F. No. 370142/27/2020-TPL LINK
3. Notification of Sovereign Wealth Fund under section to(23FE) of the Income-tax Act, 1961 Circular No. 15 of 2020 F No 370142/26/2020-TPL LINK
4. Income-tax (16th Amendment) Rules, 2020 Notification No. 43/2020/F. No. 370142/11/2020-TPL LINK
5. Notification of Harmonised Master List of Infrastructure Sub-sectors for the purposes of section 10(23FE) of the Income-tax Act, 1961​ Notification No. 44/2020/F. No. 370142/24/2020-TPL LINK
6. The National Pension Scheme Tier II- Tax Saver Scheme, 2020. Notification No. 45 /2020/F. No.370142/26/2019-TPL LINK
7. ‘National Aviation Security Fee Trust’ (PAN AADTN2508F) Notification No. 46 /2020/F. No. 300196/07/2020-ITA-I LINK
8. Notification u/s 138 (1)(ii) of the Income-tax Act, 1961 under PM-KISAN Yojana​ F. No. 225/49/2019-ITA.II Notification No. 51 /2020 LINK
9. Notification u/s 138 of the Income-tax ACt,1961 in respect of Intelligence Bureau, Cabinet Secretariat, National Investigation Agency and Narcotics Control Bureau​ F. No. 225/53/2020-IT A.II

Notification No. 52 /2020

LINK
10. Income-tax (17th Amendment) Rules, 2020. Notification No. 54/2020/F. No. 370142/22/2020-TPL LINK
11. Income-tax (18th Amendment) Rules, 2020. Notification No. 55/2020/ F. No.142/22/2015-TPL LINK
12. TAXATION AND OTHER LAWS Notification No. 56/2020/ F. No. 370142/23/2020-TPL LINK

2. Compliance Requirement under Goods & Services Tax Act, (GST) 2017

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.

GST Compliance Relaxations:

GSTR 3B Due Dates for May 2020

Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax period Due Date No interest payable till Interest payable @ 9% from & till Interest payable @ 18% from
Feb, 2020 20th March, 2020 4th April, 2020 5th April to 24th June, 2020 25th June, 2020
March, 2020 20th April, 2020 5th May, 2020 6th May to 24th June, 2020 25th June, 2020
April, 2020 20th May, 2020 4th June, 2020 5th June to 24th June, 2020 25th June, 2020
May, 2020 27th June, 2020 (extended date for filing) 27th June, 2020 28th June, 2020
June, 2020 20th July, 2020
July, 2020 20th August, 2020

A. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

Tax period Due Date No interest payable till Interest payable @ 9% from & till Interest payable @ 18% from
Feb, 2020 22nd March, 2020 30th June, 2020 1st July to 30th Sept., 2020 1st Oct., 2020
March, 2020 22nd April, 2020 3rd July, 2020 4th July to 30th Sept., 2020 1st Oct., 2020
April, 2020 22nd May, 2020 6th July, 2020 7th July to 30th Sept., 2020 1st Oct., 2020
May, 2020 12th July, 2020 (extended date for filing) 12th Sept., 2020 13th Sept to 30th Sept., 2020 1st Oct., 2020
June, 2020 22nd July, 2020 23rd Sept., 2020 24th Sept to 30th Sept., 2020 1st Oct., 2020
July, 2020 22nd August, 2020 27th September, 2020 28 Sep-30 Sep 2020 01.10.2020 to till actual date of deposit of Tax
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

B. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

Tax period Due Date No interest payable till Interest payable @ 9% from & till Interest payable @ 18% from
Feb, 2020 24th March, 2020 30th June, 2020 1st July to 30th Sept., 2020 1st Oct., 2020
March, 2020 24th April, 2020 5th July, 2020 6th July to 30th Sept., 2020 1st Oct., 2020
April, 2020 24th May, 2020 9th July, 2020 10th July to 30th Sept., 2020 1st Oct., 2020
May, 2020 14th July, 2020 (extended date for filing) 15th Sept., 2020 16th Sept to 30th Sept., 2020 1st Oct., 2020
June, 2020 24th July, 2020 25th Sept., 2020 26th Sept to 30th Sept., 2020 1st Oct., 2020
July, 2020 24th August, 2020 29th Sept., 2020 30th Sept., 2020 1st Oct., 2020
Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

D. Late Fee Relief to Normal Taxpayers filing Form GSTR-3B

i) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax period Late fees waived if return filed on or before
Feb, 2020 24th June, 2020
March, 2020 24th June, 2020
April, 2020 24th June, 2020
May, 2020 30th September, 2020

(Interest is NIL for the first 15 days, 9% after 15 days till 24th June and 18% thereafter)

June, 2020
July, 2020

ii) Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY

Tax period Late fees waived if return filed on or before (For Group A States)* Late fees waived if return filed on or before (For Group B States)*
Feb, 2020 30th June, 2020 30th June, 2020
March, 2020 03rd July, 2020 05th July, 2020
April, 2020 06th July, 2020 09th July, 2020
May, 2020 12th Sept., 2020 15th Sept., 2020
June, 2020 23rd Sept., 2020 25th Sept., 2020
July, 2020 27th Sept., 2020 29th Sept., 2020
States Group A- Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep Group B- Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

Kindly note:

Taxpayers who are yet to file Form GSTR-3B for any month(s) from July, 2017 till Jan., 2020, can now file Form GSTR-3B from 1st July, 2020 till 30th Sept., 2020, without any late fee, for those months in which they did not have any tax liability. However, for the months they had a tax liability, their late fee is capped at Rs 500 per return.

iii) Late Fee Relief to Normal Taxpayers filing Form GSTR-1:

Tax period Due Date Waiver of late fee if return filed on or before
March 2020 11.04.2020 10.07.2020
April 2020 11.05.2020 24.07.2020
May 2020 11.06.2020 28.07.2020
June, 2020 11.07.2020 05.08.2020
Quarterly taxpayers Jan to March 2020 30.04.2020 17.07.2020
Quarterly taxpayers April to June 2020 31.07.2020 03.08.2020

Kindly note:

If the Form GSTR-3B and Form GSTR-1 for the period mentioned in Tables above is not filed by the notified dates, late fee will become payable from the due dates for these returns.

E. Compliances for Composition taxpayers

Form No. Compliance Particulars Due Date (New)
GST CMP-08 2nd Quarter – July to September 2020 18.10.2020
GSTR-4 The yearly return for 2019-20 shall be required to be filed in Form GSTR 4 31.08.2020

E. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

– (for the month of March, April, May, June & July 2020)

Form No. Compliance Particulars Due Date Due Date (New)
GSTR -5 Non-Resident Taxpayers 20th of succeeding month 31.08.2020
GSTR -6 Input Service Distributors 13th of succeeding month 31.08.2020
GSTR -7 Tax Deductors at Source (TDS deductors) 10th of succeeding month 31.08.2020
GSTR -8 Tax Collectors at Source (TCS collectors) 10th of succeeding month 31.08.2020

G. Extension of validity period of EWB:

The validity of E-way bills (EWBs), generated on or before 24th March, 2020, and whose validity expiry date lies on or after 20th March, 2020, is deemed to have been extended till 31st August, 2020.

  • GST UPDATES from 01.07.2020 to 31.07.2020:
Sl. No. Notification(s) Notification No. Link(s)
1.

 

Seeks to make eighth amendment (2020) to CGST Rules 58/2020-Central Tax dated 01.07.2020 LINK
2. Seeks to extend the due date for filing FORM GSTR-4 for financial year 2019-2020 59/2020-Central Tax dated 13.07.2020 LINK
3. Seeks to make Ninth amendment (2020) to CGST Rules 60/2020-Central Tax dated 30.07.2020 LINK
4. Seeks to amend Notification no. 13/2020-Central Tax in order to amend the class of registered persons for the purpose of e-invoice 61/2020-Central Tax dated 30.07.2020 LINK
5. The Central Goods and Services Tax (Ninth Amendment) Rules, 2020. Gazette ID

CG-DL-E-30072020-220781

LINK
6 The Delhi Goods and Services Tax (Removal Of Difficulties) Order, 2019 Gazette ID

SG-DL-E-28072020-220717

LINK
7 Amendment in the notification of the Government of India in the Ministry of Finance, No. 21/2019- Central Tax, dated the 23.04.2019 [F. No. CBEC-20/01/09/2019-GST LINK
8 The Central Goods and Services Tax (Eighth Amendment) Rules, 2020 Gazette ID

CG-DL-E-01072020-220314

LINK

3. Compliance under Other Statutory Laws

Applicable Laws/Acts Due Dates Compliance Particulars Forms / (F iling mode)
EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952) 15.08.2020 PF Payment ECR
ESIC (Employees’ State Insurance Act, 1948) 15.08.2020 ESIC Payment ESI Challan
Contract Labour (Regulation &Abolition) Act, 1970 Within 15 Days of comm encement/ completion of contract work Return/Notice within 15 days of commencement/ completion of each contract by the Principal employer Form VI-B
Payment of Gratuity Rule Within 30 Days of applicability of the Act & any change Notice of applicability of the Act & any change Form A or B
Professional Tax and Shop & Estab lishment Taxes 31.08.2020 Payment of Professional Tax and Shop & Establishment Taxes

♦ Updates TRACKER under Labour LAWS:

Sl. No. Notification(s) Link(s)
1. The Code on Wages, 2019 Link
2 The Employees’ State Insurance (Central) Amendment Rules, 2020. Link
3 Relaxation of time limit for filing contribution for the period ending March, 2020 Link
4 Constitution of Committee-Support Gropu for pensioners of ESIC who are Members of ESIC PMS, 2006 Link
5 प्रधान मंत्री गरीब कल्याण पैकेज के अंतर्गत कोविड-19 से लड़ने वाले हैल्थ केयर वर्कर्स का बीमा Link
6 Relaxation/permission for extension of delivery time and exemption of penalty during lockdown period. Link
7 Implementation of guidelines, circulars, protocol of Ministry of AYUSH regarding management of COVID-19. Link
8 Submission of Brief Note on working of ESI Scheme in the Region as on 31.03.2020 Link

4. Compliances under FEMA / RBI

Applicable Laws/Acts Due Dates Compliance Particulars Forms / (Filing mode)
FEMA ACT 1999 14.08.2020

(extended)

Annual Return on Foreign liabilities and assets The FLA return is required to be submitted by the companies who have received Foreign direct investment (FDI) and/or made Foreign direct investment abroad in the previous year(s) including the current year FLA Return
FEMA ACT 1999 Monthly Basis External Commercial Borrowings Borrowers are required to report all ECB transactions to the RBI on a monthly basis through an AD Category – I Bank in the form of ‘ECB 2 Return’. ECB 2 Return
FEMA ACT 1999 Not later than 30 days from the date of issue of Capital instrument FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India. Form FC-GPR
FEMA ACT 1999 With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier. Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS.

The onus of reporting shall be on the resident transferor/ transferee.

Form FC-TRS.
FEMA ACT 1999 within 30 days from the date of receipt of the amount of consideration. A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1 Form FDI LLP-I
FEMA ACT 1999 within 60 days from the date of receipt of funds in A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa) Form FDI LLP-II
FEMA ACT 1999 within 30 days from the date of allotment of capital instruments The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts Downstream statement -Form DI

Important Updates:

1. The due date for submission of FLA for the year 2019-20 is extended to August 14, 2020.

2. RBI Extends Timeline For Finalisation Of Audited Accounts For Applicable NBFCs: every applicable NBFC shall finalise its balance sheet within a period of 3 months from the date to which it pertains or any date as notified by SEBI for submission of financial results by listed entities.

RBI Circulars / Notifications:

S. N. Particulars of the Circulars Link
1 Special liquidity scheme for NBFCs/HFCs Click Here
2 Master Circular on SHG-Bank Linkage Programme Click Here
3 Master Circular – Lead Bank Scheme Click Here
4 Distressed Assets Fund – Subordinate Debt for Stressed MSMEs Click Here
5 Credit flow to Micro, Small and Medium Enterprises Sector Click Here
6 Exemption from Registration as NBFC – Alternative Investment Fund (AIF) Click Here
7 Fair Practices Code for Asset Reconstruction Companies Click Here
8 Implementation of Indian Accounting Standards Click Here
9 Indian Stamp Act, 1899 Amendments and Rules made thereunder Click Here
10. RBI Working Paper No. 08/2020: Subnational Government Debt Sustainability in India: An Empirical Analysis Click Here
11. Are Dynamic Shifts Underway in the Indian Economy?

(Shri Shaktikanta Das, Governor, Reserve Bank of India – July 27, 2020 – Addressed to CII National Council, Mumbai)

Click Here

5. SEBI – Securities Exchange Board of INDIA

SEBI MEASURES IN REPOSNSE TO COVID 19

Compliance Requirement under SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015

Half Yearly Compliances

Sl. No. Regulation No. Compliance Particular Compliance Period (Due Date) Revised Due Date
1. Regulation 33 Quarterly / Annually Relating to Financial Results Un audited Financial Results within 45 days & Audited finance within 60 days

Q. 15.05.2020

A. 30.05.2020

15.09.2020

♦ Annual Compliance

Sl. No. Regulation No. Compliance Particular Compliance Period (Due Date)
1 Regulation 24A Secretarial Audit

Due date Extended to 31.07.2020

Every listed entity and its material unlisted subsidiaries incorporated in India shall undertake secretarial audit and shall annex with its annual report, a secretarial audit report, given by a company secretary in practice, in such form as may be specified with effect from the year ended March 31, 2019.

(within 60 days from the Closure of FY)

COMPLIANCE ON IMPACT OF COVID 19:Reg 4(2)(e),30,33,51

Advisory on disclosure of material impact of COVID-19 pandemic on listed entities under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Link

Event based Compliances

Sl. No. Regulation No. Compliance Particular Compliance Period (Due Date)
1. Regulation 7 (5) Intimation of appointment / Change of Share Transfer Agent. Within 7 days of Agreement with RTA.
2. Regulation 17(2) Meeting of Board of Directors COVID-19 Relaxation:

The board of directors and Audit Committee of the listed entity are exempted from observing the maximum stipulated time gap between two meetings.

Extension of maximum time gap between two board/Audit Committee meetings as provided by circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020 is further extended till July 31, 2020.

However the board of directors / Audit Committee shall ensure that they meet at least four times a year, as stipulated under regulations 17(2) and 18(2)(a) of the LODR.

3. Regulation 18(2) Meeting of the audit committee
4. Regulation 29 Notice for Board Meeting to consider the prescribed matters. COVID19 Relaxation

Board meetings in all cases –

2 days in respect of Board Meetings held till July 31, 2020.

5 Regulation 30 Outcome of Board Meeting (Schedule III Part A- (4) within 30 minutes of the closure of the meeting
6. Regulation 39 (3) Intimation to Stock Exchanges regarding loss of share certificates and issue of the duplicate certificates – within 2 days of its getting information Extension granted:

No penalty for delay in intimation made between March 1 to May 31, 2020

7. Regulation 40 Transfer or transmission or transposition of securities After due verification of the documents, the Listed Company shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of 15 days from the date of such receipt of request for transfer:

Transmission requests are processed for securities held in dematerialized mode and physical mode within 7 days and 21 days respectively, after receipt of the specified documents

8. Regulation 43 Declaration of Dividend The company has to declare and disclose the dividend on per share basis only.
9. Regulation 46 Company Website:.

Listed entity shall disseminate the information as stated in Regulation 46 (2)

Shall update any change in the content of its website within

2 working days from the date of such change in content.

10. Regulation 50 Intimation to stock exchange(s). Listed Company shall give prior intimation at least 11 working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.
11. Regulation 57 Other submissions to stock exchange(s). Listed Company shall submit a certificate to the stock exchange within 2 days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities.
12. Regulation 82 Intimation and filings with stock exchange(s). Intention to issue new securitized debt instruments either through a public issue or on private placement basis :

Reg. 82(2) : Intimation of Meeting

at least 2 working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered

13. SCHEDULE III

PART A: DISCLOSURES OF EVENTS OR INFORMATION: SPECIFIED SECURITIES

Events which shall be disclosed without any application of the guidelines for materiality as specified in sub-regulation (4) of regulation (30) (7B) In case of resignation of an independent director of the listed entity, within 7 days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities as mentioned in 7B (i), 7B(ii) & 7B(iii).
14. Regulation 106J period of subscription and issue of allotment letter. A rights issue shall be open for subscription in India for a period as applicable under the laws of its home country but in no case less than 10 days.
15. Regulation 108 Application for Listing. The issuer / the issuing company, shall, make an application for listing, within 20 days from the date of allotment, to one or more recognized stock exchange(s) along with the documents specified by stock exchange(s) from time to time.
16. Regulation 23 Corporate governance requirements with respect to subsidiary of listed entity The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for annual results to the stock exchanges and publish the same on its website.
17 Regulation 23(9) The listed entity shall submit within 30 days from the date of publication of its standalone and consolidated financial results for the half year, disclosures of related party transactions on a consolidated basis. Disclosure Of Related Party Transactions Pursuant To Regulation 23(9) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 WITHIN 30 days from the date of publication of Financial Results (for half year )
18. Regulation 30 (6) read with Para A of Part A of Schedule III (except sub para 4 of with Para A of Part A of Schedule III The listed entity shall first disclose to stock exchange(s) of all events, as specified in Part A of Schedule III, or information as soon as reasonably possible and not later than twenty four hours from the occurrence of event or information:

Provided that in case the disclosure is made after twenty four hours of occurrence of the event or information, the listed entity shall, along with such disclosures provide explanation for delay

Example :

Proceedings of Annual and extraordinary general meetings of the listed entity.

24 hours of Occurrence of event
19. SCHEDULE III

PARTA A

(SUB CLAUSE 7A)

In case of resignation of the auditor of the listed entity, detailed reasons for resignation of auditor, as given by the said auditor, shall be disclosed by the listed entities to the stock exchanges as soon as possible but not later than twenty four hours of receipt of such reasons from the auditor 24 hours of Occurrence of event
20. SCHEDULE III

PARTA A

(SUB CLAUSE 7B)

In case of resignation of an independent director of the listed entity, within seven days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities within 7 days from the date of resignation
21. Regulation 37(1) Draft Scheme of Arrangement & Scheme of Arrangement before for obtaining Observation Letter or No-objection letter, before filing such scheme with any Court or Tribunal, in terms of requirements specified by the Board or stock exchange(s) from time to time. Before filling the same with any court or tribunal
22 Regulation 37(1) read with Section 31 of the Insolvency Code, No need to follow Regulation 37 & 94 if restructuring proposal approved as part of a resolution plan by the Tribunal under section 31 of the Insolvency Code, subject to the details being disclosed to the recognized stock 23exchanges within one day of the resolution plan being approved within one day of the resolution plan being approved
23 Regulation 42(2) The listed entity shall give notice in advance of at least seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date. (Refer 42(1) Record date) 7 working days (excluding the date of intimation and the record date)
24. Regulation 44(3) The listed entity shall submit to the stock exchange, within forty eight hours of conclusion of its General Meeting, details regarding the voting results in the format specified by the Board. within 48 hours of conclusion of its General Meeting
25. Regulation 31A Re-classification of status of a promoter/ person belonging to promoter group to public an application for re-classification to the stock exchanges has been made by the listed entity consequent to the following procedures and not later than thirty days from the date of approval by shareholders in general meeting. Not later than 30 days of general Meeting
26. Regulation 50(1)

(Debt OR Non-Convertible Redeemable Preference Shares Or Both)

Intimation to stock exchange(s).

Listed Company shall give prior intimation at least 11 working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable.

at least 11 working days
27. Regulation 50(3) (Debt OR Non-Convertible Redeemable Preference Shares Or Both) The listed entity shall intimate to the stock exchange(s), at least two working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of directors, at which the recommendation or declaration of issue of non convertible debt securities or any other matter affecting the rights or interests of holders of non convertible debt securities or non convertible redeemable preference shares is proposed to be considered. at least 2 working days in advance, excluding the date of the intimation and date of the meeting
29. Regulation 52(5) (Debt OR Non-Convertible Redeemable Preference Shares Or Both) The listed entity shall, within seven working days from the date of submission of the information required under sub- regulation (4),ie information submitted with Financial Results submit to stock exchange(s), a certificate signed by debenture trustee that it has taken note of the contents. 7 working days of FR
31. Regulation 57

(Debt OR Non-Convertible Redeemable Preference Shares Or Both)

Other submissions to stock exchange(s).

Listed Company shall submit a certificate to the stock exchange within 2 days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities.

within 2 days
32. Regulation 60(2)

(Debt OR Non-Convertible Redeemable Preference Shares Or Both)

The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date.

(Refer 60(1) Record date)

7 working days (excluding the date of intimation and the record date)
33. Regulation 78(2)

(Obligations of listed entity which has listed its indian depository receipts)

Record date

The listed entity shall give notice in advance of at least four working days to the recognised stock exchange(s) of record date specifying the purpose of the record date.

at least 4 working days
34. Regulation 82

(Obligations Of Listed Entity Which Has Listed Its Securitised Debt Instruments)

Intimation and filings with stock exchange(s).

Intention to issue new securitized debt instruments either through a public issue or on private placement basis.

At least 2 working days in advance
35. Regulation 87(2)

(Obligations of listed entity which has listed its Indian depository receipts)

Record date

The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to the recognised stock exchange(s) of the record date or of as many days as the Stock Exchange may agree to or require specifying the purpose of the record date.

at least 7 working days(excluding the date of intimation and the record date)
36. Regulation 87B

(Obligations Of Listed Entity Which Has Listed Its Security Receipts)

The listed entity shall first disclose to stock exchange(s) of all events or information, as specified in Part E of Schedule III, as soon as reasonably possible but not later than twenty four hours from occurrence of the event or information:

Provided that in case the disclosure is made after twenty four hours of occurrence of the event or information, the listed entity shall, along with such disclosures provide explanation for the delay.

24 hours of Occurrence of event
  • Few More SEBI (LODR) Relaxations:
Sl. No. Compliance Particulars Due Date Extended Due Date
1 Regulation 44(5) relating to holding of AGM by top 100 listed entities by market capitalization for FY 19-20

Relaxations on holding AGM by top 100 listed entities vide circular dated April 23, 2020

31.08.2020 30.09.2020
2. Regulation 19(3A)

The nomination and remuneration committee shall meet at least once in a year

Regulation 20(3A)

The Stakeholders Relationship committee shall meet at least once in a year.

Regulation 21(3A)

The Risk Management Committee shall meet at least once in a year.

31.03.2020 30.06.2020

Nomination and Remuneration Committee, Stakeholder Relationship Committee and Risk Management Committee shall meet atleast once in a year extended by 3 months i.e. June 30, 2020

3. Regulation 47: Publication of advertisements in the newspapers It has been decided to exempt publication of advertisements in newspapers as required under regulation 47 for all events.

No advertisement publication in newspaper required for events taking place up to June 30, 2020

4 Regulation 52 (1) and (2) relating to Financial Results

a) 45 days from the end of the Half Year

b) 60 days from the end of Financial Year for Annual Financial Results

15.05.2020

30.05.2020

31.07.2020
5. Regulation 44(5)

holding of Annual General Meeting (AGM) by top 100 listed entities by market capitalization, due to the COVID –19 pandemic

31.08.2020 30.09.2020
6. Regulation 36 (1)(b) & (c) ;

Regulation 58 (1)(b) &(c)

Hard copy of the statement containing salient features of all the documents, as prescribed in Section 136 of the Companies Act, 2013 to the shareholders who have not registered their email addresses and hard copies of full annual reports to those shareholders, who request for the same

SEBI has dispensed with the requirement of dispatch of hard copies for all listed entities who conduct their AGM till December 31, 2020
7. Regulation 44(4)

Proxy for general meetings

SEBI has dispensed with this requirement temporarily for all listed entities who conduct their AGM through electronic mode only till 31st December, 2020
8. Regulation 12

Dividend warrants of cheques

SEBI has clarified that this requirement shall apply only once postal services resume normal operations. Where email addresses of shareholders are available, listed entities shall endeavour to obtain their bank account details and use the electronic modes of payment specified in Schedule I of the SEBI (LODR), Regulations, 2015.
9. Regulation 52(8)

Newspaper publication of financial results

Within 2 calendar days of the conclusion of the meeting of the board of directors No advertisement publication in newspaper required for events taking place up to June 30, 2020
10. Regulation 33(3)(b)

All listed entities having subsidiaries must submit quarterly/year-to-date consolidated financial results on a quarterly basis. The Companies (Indian Accounting Standards) Rules, 2015 provide for the phased adoption of Ind AS is currently applicable to all listed entities except entities in the banking and insurance sectors

Considering the challenges faced in preparing consolidated financial results due to different accounting standards being followed, listed entities that are in or have subsidiaries in the banking or insurance sectors may submit consolidated financials for the quarter ended June 30, 2020 voluntarily. Entities that choose to publish only standalone results must provide reasons for doing so.

however, such entities must continue to submit quarterly/year-to-date standalone financial results.

11. Clarification regarding the use of digital signatures Authentication /certification of any filing /submission made to stock exchanges under LODR may be done using digital signature certifications until June 30, 2020

6. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49 issued and publish dated 27th March 2020, has published Relaxation from compliance with certain provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 due to the COVID-19 pandemic.”.

Sl. No. Regulation No. Compliance Particular Compliance Period

(Due Date)

1 Regulation 30(1) Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of March, in such target company in such form as may be specified. Report as per the 2020 calendar are required to be filed by April 15, 2020

Due Date Extended

It has been decided by SEBI to extend the due date of filing disclosures, in terms of Regulations 30(1), 30(2) and 31(4) of the SAST Regulations for the financial year ending March 31, 2020 to June 01, 2020.

2 Regulation 30(2) The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may
3. Regulation 31(1) read with Regulation 28(3) of Takeover Regulations

AUGUST 7, 2019 CIRCULAR

https://www.sebi.gov.in/legal/circulars/aug-2019/disclosure-of-reasons-for-encumbrance-by-promoter-of-listed-companies_43837.html

The promoter of every listed company shall specifically disclose detailed reasons for encumbrance if the combined encumbrance by the promoter along with PACs with him equals or exceeds: a) 50% of their shareholding in the company; or b) 20% of the total share capital of the company, within 2 (two) working days
4. Regulation 31(4) Disclosure of encumbered shares Promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the 31st March, in such target company in such form as may be specified

7. SEBI (Depositories and Participants) Regulations 2018)

Sl. No. Compliance Particulars Due Date Extended Due Date
1. Regulation 76

Reconciliation of Shares and Capital Audit

30.04.2020 Equivalent period of lock down declared by Government of India i.e. 21 days, over and above the prescribed time limits
2. Regulation 74 (5) Certificate Received from Registrar

Other Relaxation in SEBI (Depositories and Participants) Regulations 2018) (Relaxation in timelines for compliance with regulatory requirements by Depository and depository participants)

Sl. No. Compliance Particulars Existing Timeline 1st Extension Extended Due Date
1. Processing of the demat request form by Issuer / RTA : Regulation 74 (5) 15 days From March 23, 2020 till May 17, 2020 Period of exclusion shall be from March 23, 2020 till July 31, 2020.A15-day time period after July 31, 2020 is allowed to Depository / DPs, to clear the back log
2. Processing of the demat request form by the Participants : Regulation 74 (4) 7 days
3. Submission of half yearly Internal Audit Report (IAR) by DPs for half year ended on 31st March 2020 15th May 2020 for half year ending March 2020 June 30, 2020,for half year ended March 2020 July 31, 2020, for half year ended on March 31, 2020
4. Redressal of investor grievances Within 15 days of the date of receipt of the complaint through SCORES & within 30 days of the date of receipt of the complaint other than received through SCORES Period of exclusion shall be from March 23, 2020 till May 17, 2020 Period of exclusion shall be from March 23, 2020 till July 31, 2020.A15-day time period after July 31, 2020 is allowed to Depository / DPs, to clear the back log.
5. Transmission of securities Within 7 days, after receipt of all requisite documents
6. Closure of demat account Within a period of 30 days
7. KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days. 10 days Period of exclusion shall be from March 23, 2020 till July 31, 2020

8. Timelines for compliance with the regulatory requirements by DPs / RTAs / KRAs

Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020. S. Nos. for which timeline is extended Extended timeline/ Period of exclusion
Processing of the demat request form by Issuer / RTA. I Period of exclusion shall be from 23.03.2020 till 30.09.2020.

A 15day time period after 30.09.2020 is allowed to Depository / DPs, to clear the back log.

Processing of the demat request form by the Participants II
KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days. III
Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/72

dated April 24, 2020.

S. Nos. for which timeline is extended Extended timeline/ Period of exclusion
Submission of half yearly Internal Audit Report (IAR) by DPs for half year ended March 31, 2020. II 30.09.2020
Redressal of investor grievances. III Period of exclusion shall be from 23.03.2020 till 30.09.2020.

A 15day time period after 30.09.2020 is allowed to Depository / DPs, to clear the back log.

Transmission of securities. IV
Closure of demat account. V
Systems audit on annual basis. VI 30.09.2020 for the financial year ended on 31.03.2020

9. SEBI RELAXATIONS FOR PREFERENTIAL ISSUES MATTERS

Securities Exchange Board of India (SEBI) vide Press Release no. PR No.35/2020 dated 23rd June, 2020 has come out with Relaxations for Listed Companies having stressed assets aimed at helping stressed companies raise capital through timely financial intervention, at the same time protecting the interest of shareholders.

Relaxations are divided into two main parts:

  • Relaxations in the pricing methodology for preferential issues
  • exempt allottees of preferential issues from open offer obligations

What are the relaxations:

Pricing of their preferential allotments Exempted from making an open offer
not less than the average of the weekly high and low of the volume weighted average prices of the related equity shares during the two weeks preceding the relevant date. if the acquisition is beyond the prescribed threshold or if the open offer is warranted due to change in control, in terms of Takeover Regulations.

Read full at:

https://www.sebi.gov.in/media/press-releases/jun-2020/relaxations-for-listed-companies-having-stressed-assets_46910.html

10. STAMP DUTY RATES W.E.F. 1ST JULY 2020 & AIF UPDATE

The amended provisions of the Indian Stamp Act, 1899 brought through Finance Act, 2019 and Rules made thereunder shall come into force w.e.f 1st July, 2020. The stamp duty rates being implemented through the Amended Indian Stamp Act w.e.f 01/07/2020 are:

Instruments Rate
Issue of Debenture 0.005%
Transfer and Re-issue of debenture 0.0001%
Issue of security other than debenture 0.005%
Transfer of security other than debenture on delivery basis; 0.015%
Transfer of security other than debenture on non-delivery basis 0.003%
Derivatives–
(i) Futures (Equity and Commodity) 0.002%
(ii) Options (Equity and Commodity) 0.003%
(iii) Currency and Interest Rate Derivatives 0.0001%
(iv) Other Derivatives 0.002%
Government Securities 0%
Repo on Corporate Bonds 0.00001%

REFER FAQ ON STAMP DUTY: https://www.sebi.gov.in/sebi_data/faqfiles/jun-2020/1593534237938.pdf

AIFs, where RTAhave not been appointedso far, shall appoint RTA, at the earliest, butnotlater than July 15, 2020 to enable collection of applicable stamp duty on issue, transfer and saleof units of AIFs in compliance with the applicable provisions of the Indian Stamp Act, 1899 and the Rules made thereunder: CIRCULAR : https://www.sebi.gov.in/legal/circulars/jun-2020/collection-of-stamp-duty-on-issue-transfer-and-sale-of-units-of-aifs_46983.html

  • SEBI Circulars Tracker: 01.07.2020 to 31.07.2020
Particulars Links
Dated – 01st July 2020

Relaxation from compliance to REITs and InvITs due to the CoVID-19 virus pandemic- Amendment

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-to-reits-and-invits-due-to-the-covid-19-virus-pandemic-amendment_46985.html
Dated – 01st July 2020

Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default

https://www.sebi.gov.in/legal/circulars/jul-2020/standard-operating-procedure-in-the-cases-of-trading-member-clearing-member-leading-to-default_46987.html
Dated – 07th July 2020

Relaxation from compliance with certain provisions of the SEBI (Issue and Listing of Municipal Debt Securities) Regulations, 2015 (ILDM Regulations) and certain SEBI Circulars due to the CoVID -19 virus pandemic

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-issue-and-listing-of-municipal-debt-securities-regulations-2015-ildm-regulations-and-certain-sebi-circulars-due-to-the-covid-19-vir-_47015.html
Dated – 09th July 2020

Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015- Amendments

https://www.sebi.gov.in/legal/circulars/jun-2020/relaxation-from-compliance-with-certain-provisions-of-the-sebi-issue-and-listing-of-debt-securities-regulations-2008-and-sebi-non-convertible-redeemable-preference-shares-regulations-2013-and-ce-_46788.html
Dated – 13th July 2020

Guidelines for Issue and Listing of Structured Products/ Market Linked Debentures-Amendments

https://www.sebi.gov.in/legal/circulars/jul-2020/guidelines-for-issue-and-listing-of-structured-products-market-linked-debentures-amendments_47053.html
Dated – 15th July 2020

Relaxation from compliance with provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“ILDS Regulation”), SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 (“NCRPS Regulations”) and SEBI Circulars relating to Listing of Commercial Papers

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-from-compliance-with-provisions-of-the-sebi-issue-and-listing-of-debt-securities-regulations-2008-ilds-regulation-sebi-non-convertible-redeemable-preference-shares-regulations-20-_47071.html
Dated – 17th July 2020

Manner and mechanism of providing exit option to dissenting unit holders pursuant to Regulation 22(5C) and Regulation 22(7) of SEBI (Infrastructure Investment Trusts Regulations), 2014

https://www.sebi.gov.in/legal/circulars/jul-2020/manner-and-mechanism-of-providing-exit-option-to-dissenting-unit-holders-pursuant-to-regulation-22-5c-and-regulation-22-7-of-sebi-infrastructure-investment-trusts-regulations-2014_47083.html
Dated – 17th July 2020

Manner and mechanism of providing exit option to dissenting unit holders pursuant to Regulation 22(6A) and Regulation 22(8) of SEBI (Real Estate Investment Trusts Regulations), 2014

https://www.sebi.gov.in/legal/circulars/jul-2020/manner-and-mechanism-of-providing-exit-option-to-dissenting-unit-holders-pursuant-to-regulation-22-6a-and-regulation-22-8-of-sebi-real-estate-investment-trusts-regulations-2014_47084.html
Dated – 20th July 2020

Eligibility Criteria for Selection of Underlying Commodity Futures for Options on Commodity Futures

https://www.sebi.gov.in/legal/circulars/jul-2020/eligibility-criteria-for-selection-of-underlying-commodity-futures-for-options-on-commodity-futures_47100.html
Dated – 22nd July 2020

Circular on Transaction in Corporate Bonds/Commercial Papers through RFQ platform and enhancing transparency pertaining to debt schemes

https://www.sebi.gov.in/legal/circulars/jul-2020/circular-on-transaction-in-corporate-bonds-commercial-papers-through-rfq-platform-and-enhancing-transparency-pertaining-to-debt-schemes_47116.html
Dated – 23rd July 2020

Reporting to Stock Exchanges regarding violations under Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 relating to the Code of Conduct (CoC)

https://www.sebi.gov.in/legal/circulars/jul-2020/reporting-to-stock-exchanges-regarding-violations-under-securities-and-exchange-board-of-india-prohibition-of-insider-trading-regulations-2015-relating-to-the-code-of-conduct-coc-_47121.html
Dated – 24th July 2020

Relaxations relating to procedural matters – Issues and Listing

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxations-relating-to-procedural-matters-issues-and-listing_47135.html
Dated – 24th July 2020

Recording of all types of Encumbrances in Depository system

https://www.sebi.gov.in/legal/circulars/jul-2020/recording-of-all-types-of-encumbrances-in-depository-system_47140.html
Dated – 27th July 2020

Relaxations relating to procedural matters – Takeover and Buy-back

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxations-relating-to-procedural-matters-takeover-and-buy-back_47152.html
Dated – 29th July 2020

Extension of time for submission of financial results for the quarter/half year/ financial year ended 30th June 2020

https://www.sebi.gov.in/legal/circulars/jul-2020/extension-of-time-for-submission-of-financial-results-for-the-quarter-half-year-financial-year-ended-30th-june-2020_47183.html
Dated – 29th July 2020

Relaxation in timelines for compliance with regulatory requirements

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-in-timelines-for-compliance-with-regulatory-requirements_47185.html
Dated – 29th July 2020

Relaxation in timelines for compliance with regulatory requirements

https://www.sebi.gov.in/legal/circulars/jul-2020/relaxation-in-timelines-for-compliance-with-regulatory-requirements_47186.html
Dated – 29th July 2020

Implementation of SEBI circular on Margin obligations to be given by way of Pledge / Re-pledge in the Depository System

https://www.sebi.gov.in/legal/circulars/jul-2020/implementation-of-sebi-circular-on-margin-obligations-to-be-given-by-way-of-pledge-re-pledge-in-the-depository-system_47190.html
Dated – 31st July 2020

Use of digital signature certifications for authentication / certification of filings / submissions made to Stock Exchanges

https://www.sebi.gov.in/legal/circulars/jul-2020/use-of-digital-signature-certifications-for-authentication-certification-of-filings-submissions-made-to-stock-exchanges_47219.html
Dated – 31st July, 2020

Collection and Reporting of Margins by Trading Member (TM) / Clearing Member (CM) in Cash Segment

https://www.sebi.gov.in/legal/circulars/jul-2020/collection-and-reporting-of-margins-by-trading-member-tm-clearing-member-cm-in-cash-segment_47220.html

11. Compliance Requirement UNDER Companies Act, 2013 and Rules made thereunder;

App licable Laws /Acts Due Dates Compliance Particulars Forms / Filing mode
Companies Act, 2013 First declaration within 90 days from the date of notification Dt. 08.02.2019 A person having Significant beneficial owner shall file a declaration to the reporting company

http://www.mca.gov.in/Ministry/pdf/ Companies Owners AmendmentRules_08020219.pdf

i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019 i.e. 08.02.2019

In case Subsequent Acquisition of the title of Significant Beneficial Owner / Any Change therein a declaration in Form No. BEN-1 required to be filed to the reporting company, within 30 days of acquiring such significant beneficial ownership or any change therein.

Form BEN-1 Draft Format available at

https://en lighten governance. blog spot.com/ 2019/07/ draft-format-for-ben-1-sbo-rules-2018. html

Companies Act, 2013 30.09.2020

(Due Date Extended as covered under CFSS 2020 Scheme

Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.

(Within 30 days from deployment of the E –form (earlier the date of receipt of declaration in BEN-1 )

http://www.mca.gov.in/Ministry/ pdf/GeneralCircular_24092019.pdf

BEN -2 due date extended till 31.03.2020

Circulars Link:

http://www.mca.gov.in/Ministry/ pdf/Circular1_01012020.pdf

Form BEN – 2

(e-form deployed by Ministry (ROC)) on 01.07.2019

Companies Act, 2013 File between 1st April, 2020 to 30th September, 2020 without any Additional filing fee (Rs. 10,000/-) Filing of the particulars of the Company & its registered office.

(by every company incorporated on or before the 31.12.2017.)

Due date extended- Link :

http://www.mca.gov.in/Ministry/pdf/ CompaniesRegistration OfficesFeesRule_25042019.pdf

Active Form INC -22A
Companies Act, 2013 File between 1st April, 2020 to 30th September, 2020 without any Additional filing fee (Rs. 5,000/-) *DIN KYC through DIR 3 KYC Form is an Annual Exercise.

Last date for filing DIR-3 KYC for Financial year 2018-19 has been extended till 14th November 2019

http://www.mca.gov.in/Ministry/ pdf/Companies5thAmendtRules_ 30092019.pdf

http://www.mca.gov.in/Ministry/ pdf/Companies4thAmendtRules_ 30092019.pdf

Annual Exercise:

http://www.mca.gov.in/Ministry/pdf/ DIR3KYCcompleteMessage_13042019.pdf

Penalty after due date is Rs. 5000/-(one time)

E-Form DIR – 3 KYC

(Web Based and E-form)

Companies Act, 2013 within 60 days from the date of deployment of this form on the website of the Ministry. Reconciliation of Share Capital Audit Report (Half-yearly)

Pursuant to sub-rule Rule 9A (8) of Companies (Prospectus and Allotment of Securities) Rules, 2014

To be filed all unlisted companies, deemed public companies

Till further clarification to be filled in GNL-2

Applicable w.e.f. 30.09.2019 –

http://www.mca.gov.in/ Ministry/pdf/Rules_23052019.pdf

Extension Notification:

http://www.mca.gov.in/ Ministry/ pdf/FormPAS6_28112019.pdf

E-Form PAS

– 6

Available w.e.f. 15.07.2020

Companies Act, 2013 Within 270 days from the date of deployment of this Form Annual Return To Be Filed By Auditor With The National Financial Reporting Authority

http://www.mca.gov.in/Ministry/pdf/ Circular_06032020.pdf

http://www.mca.gov.in/Ministry/ pdf/Circular19_30042020.pdf

http://www.mca.gov.in/Ministry/ pdf/General CircularNo.26_06072020.pdf

Note on NFRA -2 –

https://enlightengovernance. blogspot.com/2020/ 06/ note-on-form-nfra-2-auditors-return.html

NFRA-2

(NFRA-2 e-Form live since 9th December 2019.)

Companies Act, 2013 Due date was 30.06.2020 and can be filed till 30.09.2020 under Mora torium period / CFSS DPT 3 is a return of deposits that companies must file to furnish information about deposits and/or outstanding receipt of loan or money other than deposits.

Company can file Form DPT-3 upto 30.09.2020 without any additional fee

DPT-3
  • Important Updates

1. Updated Contact Number of Helpdesk from 17/07/2020 onwards:

For Any Query Related To Company Name Availability And Company Incorporation, Please Contact

CRC Helpdesk : 0120-4832500 (Option 1)

Email: CRC.Escalation@Mca.Gov.In

Any Query Related To Company Or LLP E-Filings, Payments Or View Public Document(VPD), Please Contact

Corporate Seva Kendra : 0120-4832500 (Option 2)

Email: Appl.Helpdesk@Mca.Gov.In

2. Form PAS-6 shall be available for filing as eForm w.e.f 15th July 2020.

3. The timeline for receiving the proposals for Research studies on Corporate Governance has expired. It will be informed when applications are being accepted again.

  • MCA Monthly UPdate Calendar: June 2020
Sl. No. Particulars of the Circulars Link
1 National Online Quiz on Insolvency and Bankruptcy Code,2016 from 1st July,2020 -31st Jul,2020 http://www.mca.gov.in/Ministry/pdf/quiz_24062020.pdf
 

2

The Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020 http://www.mca.gov.in/Ministry/pdf/Rule3_30062020.pdf
 

3

Extension of the last date of filing of Form NFRA-2 – 270 days from the date of deployment of this form on the website of NFRA http://www.mca.gov.in/Ministry/pdf /GeneralCircularNo.26_06072020.pdf
 

4

Amendment of item no.(vi) of Schedule VII of the Companies Act,2013 http://www.mca.gov.in/Ministry/pdf/ NotificationCompAct_10072020.pdf
5. The Companies (Indian Accounting Standards) Amendment Rules, 2020 http://www.mca.gov.in/Ministry/pdf/Rule_24072020.pdf
6 The National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for investigation of misbehaviour or incapacity of Chairperson, President and other Members) Rules, 2020 http://egazette.nic.in/WriteReadData/2020/220734.pdf
7 The Companies (Indian Accounting Standards) Amendment Rules, 2020. http://egazette.nic.in/WriteReadData/2020/220679.pdf

12. IBBI Updates {Insolvency and Bankruptcy Board of India}

Due to the emerging financial distress faced by most companies it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs 1 crore (from the existing threshold of Rs 1 lakh). This will by and large prevent triggering of insolvency proceedings against MSMEs.

  • Important Notifications and Circulars Tracker
Sl. No.

 

Notification(s) Link(s)
1. The Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2020. https://www.ibbi.gov.in/uploads/legalframwork/ 298ceb6f7b14fc9d8647342a093925ee.pdf

LINK

2. Insolvency and Bankruptcy Board of India(Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations)Guidelines, 2020 https://www.ibbi.gov.in/uploads/legalframwork/ 27b396627077e4426e0b8fbfd5a69727.pdf
3 CA Venkata Shiva Kumar Vs Insolvency and Bankruptcy Board of India & Ors. WP No. 9132 -2020 and WMP No 11134-2020 https://www.ibbi.gov.in/uploads/order/0 a7eb72631ad531fc16d6bf5e0954afd.pdf

Disclaimer:

IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.

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18 Comments

  1. Mani.born@gmail.com says:

    Does it correct?

    GST, Act, 2017 18.02.2020 Return filed by composition dealer statement-cum-challan to declare the details or summary of his/her self-assessed tax payable for a given quarter.
    (October 2019 to December 2019)

    CMP – 08

  2. manognt says:

    Mr Lalit due date for filing GSTR ANNUAL RETURNS (9,9A & 9C) for Financial Year 2017-18 is already extended from 31.08.2019 to 30.11.2019. Already GSTN portal is confusing now by updating as 30.10.2019 and you have added one more confusion by giving another due date as 30.09.2019 which is base less.

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