The Ministry of Corporate Affairs (MCA) vide notification dated 22.10.2019 notifies Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 (Amended Rules) to amend Companies (Appointment of Qualification of Directors) Rules, 2014 (Rules). The Amended Rules substituted Rule 6 of the Rules for addition of a new concept i.e. Registration on Independent Director’s Data […]
The Ministry of Corporate Affairs (MCA) vide its notification dated 10th Sep, 2018 issued the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018 which came into force w.e.f. 2nd Oct, 2018. As per rule 9A of the Companies (Prospectus and Allotment of Securities) Rules, 2014 every unlisted public company is required to: issue […]
As the world is gradually overcoming the prolonged COVID-19 hysteria, our world leaders and international institutions are poised for another surmountable challenge i.e. ‘transition towards a more just and more inclusive world order which is pro-poor and environment centric’. Once just a fancy dream on paper, this grandeur vision now seems realistically attainable, partly because […]
Meaning and Concept of Authorized Share Capital: ♦ As Per Section 2(8) of the Companies Act, 2013 ‘authorized capital’ or ‘nominal capital’ means such capital as is authorized by the memorandum of a company to be the maximum amount of share capital of the company. ♦ Therefore Authorized Share Capital is that maximum amount up […]
Presumptive Taxation Scheme for Plying, Hiring, or Leasing Goods Carriages – Section 44AE For simplifying the complications involved in calculating the taxable income for small business owners, the Presumptive Taxation Scheme was construed under the Income Tax Act. Section 44AE offers this Presumptive Taxation scheme which allows for a system to estimate the income of […]
While the author had almost finalised the article, Notification No. 27/2021 dated 27-Feb-2021 the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Ordinance, 2020 which was promulgated on 5-Jun-2020 [while later become Act] has extended date of completion of assessment for AY 2018-19 from 31-March-2021 to 29-30-June-2021. But one must note that the […]
GST Registration GST Registration is a mandatory tax registration for all businesses 1. who involve in buying and selling with an annual aggregate turnover of more than Rs 20 lakh (Rs 40 or Rs 10 lakh, as may vary depending upon the supply and state/UT) 2. or undertaking inter-state supply (without any threshold limited). GST registration […]
MAJOR INCOME TAX COMPLIANCE LIABILITIES ON BANKS- 1. REPORTING OF HIGH VALUE TRANSACTIONS- High Value transactions are transactions which are incurred in high denominations. Banks are required to intimate about following high value transactions to Director of Income-tax (Intelligence and Criminal Investigation) by filing Form 61A called Statement of Financial Transaction-
Here, we have prepared a Compliance Calendar in three parts, Compliance Calendar for GST due dates of March 2021, Compliance Calendar for Income Tax Return due dates for the month of March, 2021 and ROC Compliance Calendar for the month of March, 2021.
In This Article, We Will analyse various Provisions of Custom Laws in context to ‘Custom Bonded Warehousing, Warehousing/bonded movement under the Custom Act 1962, Provisional Assessment of duty, Claim of refund of customs duty, Procedures of clearance of goods for Home consumption, warehousing bond, Manufacture and other operation in warehouse, clearance of warehouse goods for […]
