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Contribution to Political parties for claiming deduction – Do’s & Don’ts

April 12, 2023 61593 Views 2 comments Print

According to the Income Tax Act, 1961, donations made to political parties are eligible for tax deductions. Section 80GGC of the Income Tax Act provides tax deductions for contributions made to political parties.

NFRA imposes penalty of Rs 1 crore on Auditors

April 12, 2023 60783 Views 0 comment Print

NFRA’s investigations inter-alia revealed that CDGL’s Auditors for FY 2018-19 failed to meet relevant requirements of Standards on Auditing and provisions of Companies Act 2013 and also demonstrated a serious lack of competence. 

MCA Imposes Penalty for Delayed Filing of Form INC-20A

April 11, 2023 29373 Views 0 comment Print

As per Rule 23A of the Companies (Incorporation) Rules, 2014, the declaration under section 10A by a director shall be in Form No. INC-20A and shall be filed as provided in the Companies (Registration Offices and Fees) Rules, 2014 and the contents of the said form shall be verified by a company secretary or a […]

Company not constituted Nomination & Remuneration committee – MCA imposes 7 Lakh Penalty

April 11, 2023 8613 Views 0 comment Print

Resonance Eduventures Limited, its MD & CEO, and CS face a penalty of 7 Lakhs imposed by Ministry of Corporate Affairs for not constituting Nomination and Remuneration Committee as required by Companies Act, 2013.”

Important Statutory due dates for LLP Annual Filing FY 2022-23

April 11, 2023 150942 Views 4 comments Print

LLP Form 11 due date for FY 2022-23 (LLP Annual Return Filing)- 30.05.2023. LLP form 8 Due date for FY 2022-23- 30.10.2023. For FY 2022-23, the due date for filing Income Tax Returns for LLPs that does not require Tax Audit is 31st July 2023.

Audit committee not constituted- MCA Imposes 7 Lakh Penalty

April 11, 2023 13041 Views 0 comment Print

Resonance Eduventures Ltd faces a 7 lakh penalty from MCA for not constituting an audit committee, violating Section 177 of Companies Act 2013. Details here.

No Section 271C Penalty on mere belated TDS remittance after deduction: SC

April 11, 2023 22383 Views 1 comment Print

SC held that no penalty shall be leviable under Section 271C of Income Tax Act for mere belated remittance of TDS after deducting

Non-constitution of audit committee- MCS imposes 7 Lakh Penalty

April 11, 2023 4758 Views 0 comment Print

Registrar of Companies in Rajasthan penalizes Resonance Eduventures for not constituting an audit committee, imposing a 7 Lakh penalty.

MCA Imposes 5 Lakh Penalty for Non-Appointment of Independent Directors

April 11, 2023 6702 Views 0 comment Print

Discover penalty imposed by MCA on Resonance Eduventures Limited for failing to appoint independent directors, as per Companies Act 2013. Learn about violation, penalties, and implications.

CBDT notifies Cost Inflation Index for Financial Year 2023-24

April 10, 2023 20838 Views 0 comment Print

CBDT notifies Cost Inflation Index for Financial Year 2023-24 at 348 vide Notification No. 21/2023-Income Tax Dated: 10th April, 2023. Cost inflation Index for Financial Year 2022-23 was 331 so Increase in Cost Inflation Index for FY 2023-24 is mere 5.14%.  MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification […]

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