SEBI issues clarifications w.r.t. transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control for market intermediaries; Lays down scenarios whereby change in shareholding of the intermediary will not be construed as change in control, namely – (i) transfer of shareholding among immediate relatives (as defined under Regulation …
The Central Board of Indirect Taxes and Customs (CBIC) notified ICEGATE or Indian Customs and Central Excise Electronic Commerce/Electronic Data Interchange (EC/EDI) Gateway as the common customs electronic portal for all customs related documentation and duty payments. In a notification issued Monday, the Board has specified the portal as the one for facilitating registration, filing …
It is informed by the Central Board of Direct Taxes (CBDT) that UDINs have not been updated at the e-filing portal for around 2.68 lakh IT forms uploaded by the Chartered Accountants on behalf of their assessees which would result in invalidation of such IT forms. The members are hereby advised to update the UDINs …
Extension of Condonation Scheme to regularize UDINs Read More »
In-depth scrutiny of filings, compliance management system to identify non-compliant companies and LLPs, and e-adjudication of various proceedings will be facilitated by the corporate affairs ministry’s latest version of MCA21 portal, set to be launched next fiscal. Aided by artificial intelligence and machine learning, the third version of MCA21 — a portal for submitting various …
Move will enable early fraud detection, ensure statutory compliance The Centre has moved a step closer towards making certain unlisted companies prepare financial results on a periodical basis, operationalising a provision in company amendment law enacted in September last year. Besides requiring certain classes of unlisted companies — yet to be specified — to prepare …
SELECT CLASS OF UNLISTED FIRMS NEED TO FILE RESULTS WITH ROC Read More »
“Suppose you are making payment to a contractor. And, when you’re getting the work executed, you’re supposed to deduct TDS at 2% — that’s the normal rate. If I made a payment of ₹ 1 crore, I deducted TDS of ₹2 lakh and deposited it in his account.,” explained Ved Jain, former President of The …
It is a revolving Unsecured Working Capital facility which will help in upfront realization of your future receivables. This finance facility is over and above your Maximum Permissible Bank Finance (MPBF). No requirement of No Objection Certificate (NOC) from your existing Banker for availing the limits. Elligibility : The firm should be a manufacturing one and our client …
Factoring, Domestic and Exports Bills Discounting in India. Read More »
In addition, the fast track process for mergers under the Companies Act, 2013 has also been now extended to also include mergers of Startups with other Startups and with Small companies, so that the process of mergers & amalgamations is completed faster for such companies. MCA notifies Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021 …
FAST TRACK MERGERS EXTENDED TO STARTS UPS & OTHER SMALL COMPANIES Read More »
The ministry of corporate affairs (MCA) is set to launch random electronic scrutiny of corporate filings later this year as it seeks to use technology to improve supervision and compliance, a top official said. “There will be stratified random sampling of the returns. We are deciding the percentage of returns that will be taken up …
GOVT TO LAUNCH RANDOM E-SCRUTINY OF CORP FILINGS Read More »
The government is set to amend laws to streamline the functioning, especially the disciplinary aspects, of three professional institutes — the Institute of Chartered Accountants of India (ICAI), Institute of Cost and Works Accountants of India (ICWAI) and Institute of Company Secretaries of India (ICSI). A bill to amend relevant provisions of laws governing the …
NEW LAWS FOR AUDITOR, COMPANY SECRETARY BODIES IN OFFING Read More »
