Summary of New MCA official updates under the Company Act 2013 Corporate & Allied Laws Update: MCA has issued the much-awaited clarification for passing general and special resolutions and convening an EGM in unavoidable circumstances and extended the validity of the existing circulars up to December 31, 2021, in light of the current social distancing norms. The MCA …
Guidance on Udyog Aadhar registration in India Introduction In recent times, the Government of India has launched the Udyog Aadhaar registration process in order to improve the small-scale businesses in the region. Previously, if a person wants to start a company, he/she must be registered with both the small-scale industry and the MSME. This step …
New company Regulations Under Form SPICe Plus for the company incorporation in India Choose Your City for Company Registration Noida Pune Bangalore Hyderabad Kanpur Mumbai Delhi Chandigarh COMPANY FORMATION IN INDIA India has one of the fastest growing economies, making it a profitable location for a private limited company …
Simplification of process of formation of Section 8 Companies: With a view to simplify the process for incorporating Section 8 Companies, requirement of prior filing of INC-12 for new section-8 companies is being dispensed with vide the Companies(Incorporation) Sixth Amendment Rules, 2019 dated 7th June, 2019. Henceforth, Section 8 Companies can be incorporated by either …
corporate and professional updates 15th oct 2018 DIRECT TAX Bombay High court held that reassessment for non-disclosure of bank A/C which was disclosed during the original assessment is invalid. Akshar Developers Vs Assistant Commissioner of Income-tax (Bombay High Court) INDIRECT TAX Finance ministry rubbishes charge of stuck GST claims worth Rs 23,000 crore. Private banks …
CORPORATE AND PROFESSIONAL UPDATES 11TH OCT 2018 Direct Tax: ITAT Mumbai held that the Income of the Indian plastic institute from technical lectures, seminars, and workshop is exempt. M/s. Indian Plastics Institute VsThe Assistant Director of Income Tax Officer (ITAT Mumbai) Calcutta High Court held that payment by tenant for removal of sub-tenants from property is …
corporate and professional updates 9th Oct 2018 Direct tax 244: The Dept should bring some order and discipline to the aspect of granting refunds. All pending refund applications should be processed in the order in which they are received. It is the bounden duty of the Revenue to grant refunds generated on account of orders …
Corporate and professional updates 8th oct 2018 Direct Tax: Bombay High court held that reassessment for non-disclosure of bank A/C which was disclosed during original assessment is invalid. Akshar Developers Vs Assistant Commissioner of Income-tax (Bombay High Court) Demand of Interest U/S Section 234 A illegal once due date has been extended : Income Tax Department cannot demand …
CORPORATE AND PROFESSIONAL UPDATES 29TH SEP 2018 DIRECT TAX Income Tax: Disallowance of artificial loss made on account of fictitious transactions – CIT(A) has deleted the addition merely by observing that the books of accounts of the assessee were audited and have not been rejected by the AO. – Matter restored before the CIT(A) – ITAT Mumbai …
CORPORATE AND PROFESSIONAL UPDATES 27TH SEP 2018 Direct Tax: ITAT Ahmedabad held that deduction under section 54 cannot be denied proportionately merely for joint ownership. Shri Chitrang M. Dave Vs the DCIT (ITAT Ahmedabad) ITAT Mumbai held that assets holding period should be computed from the date of allotment letter.Shri Sanjaykumar Footermal Jain Vs ITO …