Wish you all a Very Happy New Year..!!
As we all know that the year 2017 was full of new and unexpected moves. With so many events happening throughout the year, Indian economy has seen some major changes. There are number of events that kicked up a storm in news and on social media in 2017.
Let’s have a quick recap to all these major events:
Top among the list, the most awaited, the biggest tax reform which replaced number of indirect taxes i.e. GST, which was implemented on July 1, 2017.
ONE NATION, ONE TAX
The only act which give India’s real estate sector its first regulator i.e. RERA, 2016, became effective from 1st May, 2017.
Under the new law, The Maternity (Amendment) Act, 2017 which received the President assents on March 27, 2017 and implemented from April 1, 2017, there are few amendments, major amendment is increasing in number of maternity leaves from 12 weeks to 26 weeks.
There is long list of documents and accounts where linking of aadhar number has been made mandatory. Like Bank account, Mutual investment, PAN card, Mobile Sim card, Pension account, Death certificate, Driving Licence, registration of new vehicles etc.
The Indian (amendment) Bill 2016, passed by Rajya Sabha on December 19, 2017 and very soon President’s assent shall be given.
In the mid of 2017, MCA released a list containing number of disqualified Directors, to provide relief to disqualified directors in case of active Companies, MCA issued a circular on December 29, 2017 i.e. CODS, 2018 which will be applicable from January 1, 2018 to March 31, 2018.
The Ministry of external affair, which is the sole government body authorised with the task of issuing Indian passport, has amended rules yet again to make the application process hassle free. Few among these amendments:
– Substitute of Date of Birth
– Name of only one Parent or legal guardian mandatory
– Reduction in number of annexures
– No attestation is required on annexures
– Marriage certificate is not required in case of separated/divorced applicants
These are some of the major changes which took place in the year 2017.
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Author: C S Ekta Maheshwari is the Author of this article and is a Practicing Company Secretary. The Author can be reached at firstname.lastname@example.org for further assistance/query, specimen of forms etc.
Disclaimer: The entire contents of this article are solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. It doesn’t constitute professional advice or a formal recommendation. The author has undertaken utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information’s provided herein above.