Registrar of Companies, Gujarat, Dadra & Nagar Haveli issues an ex-parte order imposing penalties on M/s. Yuva Nidhi Company Limited for violating Section 117 read with Section 179 of the Companies Act, 2013. The company and its directors failed to file e-form MGT-14 for the approval of annual accounts for multiple financial years.
MCA imposed penalties on Yuva Nidhi Company Limited for failing to file annual return, in violation of Section 92(4) of Companies Act, 2013
ITAT held that in the absence of an ascertainable amount and identifiable payee, the machinery provisions of recovering tax deducted at source falls flat
Penalty imposed by MCA on Yuva Nidhi Company Limited for non-compliance of MGT-14 filing regarding Board Report approval
Section 189 of the Companies Act, 2013 requires companies to maintain registers of contracts or arrangements in which directors are interested. Failure to comply with this section carries a penalty of Rs. 25,000 for each defaulting director.
MCA imposed penalties on Yuva Nidhi Company Limited for failing to file balance sheet in violation of Section 137 of the Companies Act, 2013.
MCA’s imposed penalty on Yuva Nidhi Company Limited for exceeding borrowing limits without shareholders’ approval, in violation of the Companies Act, 2013.
CBDT has issued Notification No. 31/2023-Income-Tax and Increased limit for tax exemption on leave encashment for non-government salaried employees The Income-tax Act, 1961, previously allowed a tax exemption on leave encashment for non-government salaried employees. This exemption was applicable to the period of earned leave they had accrued at the time of retirement, whether through superannuation […]
Circular No. 6 of 2023, issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India, provides clarifications regarding provisions related to charitable and religious trusts. The circular explains the amendments made by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, and their impact on registration and […]
Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of income tax returns for complete scrutiny during the financial year 2023-24. The guidelines specify various scenarios, including cases related to surveys, search and seizure actions, non-filing of returns, addition in earlier assessment years, and specific information on […]
