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Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020
MCA has vide Notification No. G.S.R. 420(E) dated 29th June, 2020 has issued and published the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2020 further to...
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Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2020
MCA has issued Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2020 which are applicable from 23rd June 2020 and by this Registration of details of Independent Directors...
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Companies (Meetings of Board and its Powers) Second Amendment Rules, 2020
MCA further relax the requirement of holding Board meetings with physical presence of directors under section 173 (2) read with rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 f...
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Measures for benefit of CAPF & CPMF veterans & their family included in CSR
MCA amends Clause (vi) of CSR Schedule VII of Companies Act 2013 to includes measures for the benefit of Central Armed Police Forces (CAPF) and Central Para Military Forces (CPMF) veterans, and their...
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Private Limited Company can transfer shares without Dematerialization
In case of Private Limited Companies; Section 29 (1) (b) of Companies Act 2013 includes Private Limited Companies also w.e.f. 14.08.2019. However, the class of companies to which it should apply is ye...
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ICSI requests to extend relaxation period of Company Law compliances
THE INSTITUTE OFCompany Secretaries of IndiaIN PURSUIT OF PROFESSIONAL EXCELLENCEStatutory body under an Act of Parliament(Under the jurisdiction of Ministry of Corporate Affairs)MCA: June: 2020June,...
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Guidance Note on Companies (Auditor’s Report) Order, 2020
The Institute of Chartered Accountants of India(Set up by an Act of Parliament)New DelhiGuidance Note on The Companies (Auditor’s Report) Order, 2020Foreword The Ministry of Corporate Affairs (MCA) ha...
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Further extension for Names Reserved & Re-submission of MCA forms
MCA Further Extends timeline for Name Reservation / Re-submission for Companies & LLP’sIn view of the situation arising due to COVID-19 pandemic and extended lockdown period, Ministry of Corporate Aff...
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Format of Consent Letter From Statutory Auditor
under Companies Act, 2013.Date: ————–To,The Board of DirectorsName of Company————-Address—————————-Sub: Consent LetterDear Sir(s),Pursuant to the section 139 of the Companies Act, 2013 read with rules...
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Income Tax Refund of Rs. 62.36 crore issued during Covid days
Government of IndiaDepartment of RevenueMinistry of FinanceCentral Board of Direct TaxesNew Delhi, 3rd July, 2020PRESS RELEASEIncome Tax Department Refunded Rs. 62,361 crore to more than 20 lakhtaxpay...
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Ten Years Imprisonment with Fine to then ITO in A Bribery Case
Central Bureau of InvestigationPress ReleaseNew Delhi, 30.06.2020The Special Judge, CBI Cases, Dehradun (Uttarakhand) has sentenced Shri Amrish Kumar Singh, then Income Tax Officer, Khatima, District...
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NIL Form GSTR-1 filing via SMS from 1st week of July 2020
NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020NIL statement in Form GSTR-1 can now be filled via SMS from the 1st week of July 2020. Previously on 8th June, a si...
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CCI approves acquisition of 9.99% stake in Reliance Jio by Jaadhu Holdings LLC
Ministry of Corporate AffairsCCI approves acquisition of 9.99% stake in Jio Platforms by Jaadhu Holdings LLCPosted On: 24 JUN 2020The Competition Commission of India (CCI) approves acquisition of 9.99...
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Govt Extends due dates under Income Tax Law & Benami laws
Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last date for investments to be eligible for deduction under Chapter VI-A i.e. 8...
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CBDT amends rule 31A and form no. 26Q from 3rd July 2020
CBDT vide Notification No. 43/2020 dated 3rd July, 2020 Mandates providing of certain information relating to cash withdrawals under section 194N in form no. 26Q. CBDT also mandates that details of in...
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Rule 11UAD- Prescribed class of persons for section 50CA
New Income TAx Rule 11UD- Prescribed class of persons for the purpose of section 50CA i.e to whom provisions of section 50CA shall not apply to transfer of any movable property, being unquoted shares,...
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CBDT notifies Investment Funds to which Section 9A not applicable
Notification No. 41/2020-Income Tax- Conditions specified in clauses (e), (f) and (g) of Section 9A(3) shall not apply in case of an investment fund set up by a Category-I foreign portfolio investor r...
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CORRIGENDUM to Income Tax Notification No. 35/2020
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)CORRIGENDUM Notification No 39/2020New Delhi, the 29th June, 2020TAXATION AND OTHER LAWSS.O. 2126(E).—In the notification of th...
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Rule 11UAC Exemption from deeming provisions of section 56(2)(x)
Prescribed class of persons for the purpose of clause (XI) of the proviso to clause (x) of sub-section (2) of section 56- Income Tax Notification No. 40/2020 dated 29th June, 2020.MINISTRY OF FINANCE(...
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Opted new Tax Regime- Claim conveyance, travel allowance
Perquisites & Allowances to Taxpayer opting Lower Tax Rate Option- Section 115BACCBDT issued Notification No. 38/2020-Income Tax Dated- 26/06/2020 amending rule 2BB of Income Tax Rules to allow taxpay...