In exercise of the powers conferred by sub-sections (1) and (2) of Section 469 of the Companies Act, 2013 (CA, 2013), the Central Government, vide Notification GSR 92(E) dated 01st February, 2021 has amended the Companies (Specification of Definitions Details) Rules, 2014 which shall come into force on the 1st day of April, 2021. The […]
WHO CAN APPLY FOR DORMANT COMPANY STATUS? – Company for a future project and has no signification accounting transactions – Company holds an assets or intellectual property and has no signification accounting transactions 1. “Significant Accounting Transaction” means any transaction other than— Payment of fees to ROC; Payments made for fulfilling the requirements of this […]
INTRODUCTION: New Income Tax Portal was launched on 7th June, 2021 by CBDT (Central Board of Direct Tax). New Income Tax Portal i.e. ‘www.incometax.gov.in’ is been replaced by the old e- filing portal i.e. ‘www.incometaxindiaefiling.gov.in’. The individual who wants to file their returns has to file returns on this new portal now onwards. The portal […]
Food Safety and Standards (Labelling and Display) First Amendment Regulations, 2021 *FSSAI F. No. Std/SP-08/A-1.2019/N-02. Dtd. 10th September, 2021 The FSSAI has notified a new set of Regulations to amend the existing Food Safety and Standards (Labelling and Display) Regulations, 2020. These amendments are set to come into force w.e.f. the date of its publication […]
As per section 96 of the Companies Act, 2013, every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its Annual General Meeting.
Waived off loan means a situation wherein the lender voluntarily relieves a borrower of the obligation or liability to repay loan. This means that there is a surplus of cash/money in the hands of borrower and thus, a receipt in the hands of the borrower/assessee. Now the question is whether such waived off loan shall […]
Evaluation of Risk of construction Project starts while reviewing the tender, decision to bid on a project shouldn’t be taken lightly. A company invests a great deal of time and resources into putting together a bid, so it’s important to make sure you are carefully identifying the right projects to go after. One way to […]
APPLICABLE ON Any person/company/body corporate/organization which is engaged in manufacting, processing, sells any type of food item has to register or obtain a license from FSSAI (now FoSCoS). Any person who himself manufactures or sells any article of food or a petty retailer, hawker, itinerant vendor or a temporary stall holder or small scale or […]
Recently, many frivolous queries are seen to have been raised by concerned officials when businessman applies for registration of GST Number. Following are some examples. 1. Promoters/Partners – Residential Address – Others (Please specify) – PROVIDE DETAIL OF LATITUDE AND LONGITUDE : Fact is there is not any facility on GST portal to enter such […]
Supreme Court (SC) strikes down the verdict of Gujarat High Court (HC) on refund of input tax credit (ITC) on input services. Division Bench of the Gujarat High Court in the case of VKC Footsteps India Pvt Ltd passed a favourable judgement in favour of the assessee and held that “Explanation (a) to Rule 89(5) […]
