The government has received some representations after its Notification dated 26/06/2020 regarding criteria for the classification of MSMEs and their registration in the new Udyam Portal. Therefore, Union Ministry of Micro, Small, and Medium Enterprises (MSME) issues a clarification on existing Entrepreneurs Memorandum (EM) PART-II/ Udyog Aadhar Memorandum (UAM), vide Office Memorandum Dated 06/08/2020. You […]
Article explains What is an Annual Return under Section 92 of Companies act 2013, What are the contents of Annual Return, Who can Sign and Certify Annual Return, Provisions related to Section 92(4) Filing of Annual Return with ROC and also explains about Extract of Annual Return in FORM MGT 9. 1. What is an […]
Reclassification of Promoters and Promoter Group Shareholders: SEBI has issued SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 (“SEBI LODR Regulations”) on September 2, 2015. In that Regulations, Regulation 31A defines the shareholders reclassification from the promoter’s category to public category or vice versa with execution of open offer. Regulation 31A of SEBI LODR Regulation define shareholder […]
GOODS AND SERVICES TAX IN INDIA: FOLLOWING THE OLD ROAD OR PAVING A NEW PATH? A Comparison Of Indian Regime With Other Countries Goods and Services Tax, abbreviated as the GST is an ambitious tax system implemented by the Government of India. It came into effect on 1st July 2017 but its genesis can be […]
Platform for Transparent Taxation and faceless appeals launched by PM Modi – Government of India on August 13, 2020: With the noble motive to honour the honest taxpayers and facilitate faceless assessments & appeals, PM Narendra Modi launched a platform for ‘Transparent Taxation’. Needless to mention this shall also expedite the refund process. This is […]
As per Wikipedia The chief financial officer (CFO) is officer of a company that has primary responsibility for managing the company’s finances, including financial planning, management of financial risks, record-keeping, and financial reporting. In some sectors, the CFO is also responsible for analysis of data. Some CFOs have the title CFOO for chief financial and […]
E-Assessment is now Faceless Assessment, CBDT vide Notification no. 60 and 61 of 2020 has amended the earlier provisions for e-assessment and renamed the said scheme as Faceless Assessment. Let’s understand the provisions and procedure as laid down in the Faceless Assessment Scheme. Step by step procedure for Faceless Assessment is tabulated in attached file. […]
Understanding Section 241A: Withholding of Income Tax Refund. Learn about the process of claiming a refund for excess income tax paid.
Micro, Small and Medium Enterprise (MSME), introduced by Government of India vide Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 are entities engaged in the production, manufacturing, processing or preservation of goods and commodities. An entity to be identified as a MSME shall be within the following limits as per Section 7 of the […]
I have already written in one of my earlier articles that I was amazed to find the names of 13 companies at the entrance of an office but with no receptionist or any semblance of company activities therein. This type of behavior of companies might have forced RBI to constitute a Working Group (WG) to […]
