CBDT amends Income-tax Rules, 1962 to ease authentication of electronic records submitted in faceless assessment proceedings
For easing the process of authentication of electronic records in faceless assessment proceedings, the Government has amended Income-tax Rules, 1962 (‘the Rules’) vide notification no G.S.R. 616(E) dated 6th September, 2021. The amended Rules provides that electronic records submitted through registered account of the taxpayers in the Income-tax Department’s portal shall be deemed to have been […]
CBDT allows taxpayers an opportunity to file application for settlement
The Finance Act, 2021 has amended the provisions of the Income-tax Act, 1961 (“the Act”) to inter alia provide that the Income-tax Settlement Commission (“ITSC”) shall cease to operate with effect from 01.02.2021. Further, it has also been provided that no application for settlement can be filed on or after 01.02.2021, which was the date on […]
Government has approved Production Linked Incentive (PLI) Scheme for Textiles. With this, India is poised to regain its dominance in Global Textiles Trade
Leveraging Economies of Scale, the scheme will help Indian companies to emerge as Global Champions Help create additional employment of over 7.5 lakh people directly and several lakhs more for supporting activities Scheme will also pave the way for participation of women in large numbers Incentives worth Rs. 10,683 crore will be provided to industry […]
Government Provides Big Boost to Exporters
Rs. 56,027 crore is going to be released under various Export Promotion Schemes Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category. Centre has provided a massive relief to the exporters. This amount is over and above duty remission of Rs 12,454 crore […]
POSTAL BALLOT
Purpose: Postal Ballot process gives an opportunity to the company’s members to exercise their votes (by postal or electronic mode), without being personally present and voting in a general meeting of the Company. APPLICABLE PROVISIONS: Companies Act, 2013 (“Act”) – Section 2(65) and Section 110 Rule 20 & 22 of Companies (Management and Administration) Rules, […]
NSE FAQ’S – FOR LODR AMENDMENTS DATED MAY 05, 2021
NSE has, vide its Circular Ref: NSE/CML/2021/23 dated June 28, 2021, has provided the clarification on due dates by which the listed entities are required to comply with the amendment in SEBI LODR Regulations, 2015 notified on May 5, 2021. The Securities and Exchange Board of India vide notification dated May 05, 2021, have amended LODR Regulations, […]
RELAXATION OF ADDITIONAL FEES IN FILING OF CERTAIN FORMS UNDER THE COMPANIES ACT, 2013 AND LLP ACT, 2008
After receiving a various requests from stakeholders for relaxation on the levy of additional fees for filing of various forms under the Companies Act, 2013 and LLP Act, 2008, the Ministry of Corporate Affairs (MCA) had issued the Circular’s MCA Circular no 6/ 2021 and 7/2021 both dated 03.05.2021 for relaxation of additional fees for […]
STOCK EXCHANGES COMPLIANCES DUE FOR JULY, 2021 (EXCEPT FOR EVENT BASED COMPLIANCE)
Rules / Regulations/ Act Section/ Rule/ Regulation No Type of Form/ Filing Authority with whom file/submission has to be made etc Particulars Due Date/ Due Month/ Effective Date if any SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Regulation 27(2)(a) Corporate Governance Report BSE and NSE Within 21 days from the end of the quarter. […]
NFRA & ANNUAL RETURN BY AUDITOR
CONSTITUTION AND DUTIES OF NFRA National Financial Reporting Authority (“NFRA”) was constituted by Government of India on October 1, 2018, in terms with sub-section 1 of Section 132 of the Companies Act, 2013 (“Act”), which mentions the constitution of NFRA to provide for matters relating to accounting and auditing standards under the Act. As per […]
Inclusion of Retail and Wholesale trades as MSMEs
Minister of MSME and Road Transport and Highways Shri Nitin Gadkari announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. The revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. Retail and wholesale trade were left out of the ambit of MSME, now under the revised guidelines, retail and […]