FORM NO. INC.22A

Introduction about FORM NO. INC.22A

www.carajput.com;MCA E-FORM INC_22A

www.carajput.com; MCA E-FORM INC_22A

Active Company Tagging Identities and Verification is a new concept that is introduced by the Ministry of Corporate Affairs on 21-02-2019 by notifying Companies (Incorporation) Amendment Rules, 2019. It also introduces the new E-FORM ACTIVE (INC-22A).

It is an attempt by the Ministry of Corporate Affairs in order to identify the Active Companies and to verify their Registered Office.

Rule 25A:

A new rule has been inserted in Companies Incorporation Rules, 2014 under Verification of Registered Office.

Rule 25A states that-Every a company Incorporated on or before the 31st December 2017 shall file the particulars of the company and its registered office in e-form ACTIVE (Active Company Tagging Identities and Verification) on or before 25.04.2019. 

Every Company* Incorporated on or before 31st December 2017 is required to file this e-form.

So, we can say that all these companies are required to file e-Form Active i.e. INC-22A

  1. Public Company (whether listed or not)
  2. Private Company

iii. Government Company

  1. One Person Company

The following Companies are not required to file this form:-

  1. Companies which have been struck off
  2. Companies that are under the process of Striking off.

iii. Companies that are under Liquidation.

  1. Companies which has been dissolved or amalgamated.

As per the register maintained by the Ministry of Corporate Affairs.

The following Companies will not be allowed by the Ministry of Corporate Affairs to file this e-form Active are:-

  1. A company which has not filed its due financial statements under Section 137 i.e. Not Filled AOC-4
  2. A company which has not filed its Annual Returns under section 92 i.e. Not Filled MGT-7

iii. A company who’s any of the director/s has not filled DIR 3 KYC form or is disqualified under section 164 of the Companies Act, 2013.

Consequences of nonfilling of this e-form Active

Company will be marked with “Active- Noncompliant” at the portal of MINISTRY OF CORPORATE AFFAIRS and due to this, the company will not be allowed to carry on some transactions such as:-

  1. Change in Authorised Capital
  2. Change in Paid-up Capital

iii. Changes in Director Accept Cessation,

  1. Change in Registered Office.
  2. Amalgamation, De-merger

Consequences of Filing e-form Active after the due date .i.e. 25-04-2019

A penalty will be charged from those companies who will file this form after the due date and the amount of penalty is Rs. 10,000/- as inserted by Companies (Registration Offices and Fees) Amendment Rules, 2019.

In INC22A, the company is required to submit the following information:-

  1. Name of the Company and CIN
  2. Registered Address of the Company
  3. Two Photographs of the registered office of the company. The first photo of the registered office shall be taken from outside of the premises, whereas the second photo needs to be taken from within the registered office premises showing at least one director / KMP who shall be signing the e-form INC-22A.
  4. Location of registered office on Map defining Latitude / Longitude
  5. Email ID of the company
  6. Email for OTP verification
  7. Whether the company is listed (Yes or No)
  8. Details of:
  • List of all Directors of the company with Active status of DIN. if any Director on Board of the Company who does not have the Active DIN Status, the company will not be able to file Form 22A.
  • Name of all the Directors of the Company, if it is more than 15 then Details of Special resolution passed for such an appointment will be required. However, in the case of Government Company details of such resolution will not be required as there is no limit of directors in Government Company. Kindly check that all the Directors have filled the DIR-3 KYC Form or They are not disqualified under section 164 of the Companies Act, 2013.
  1. Details of Statutory Auditor.
  • Name of the Auditor/Firm.
  • PAN No. of the Auditor/ Firm.
  • Membership No. or Firm’s Regn. No.
  • Period for which the Auditor has been appointed.
  1. Details of Cost Auditor
  • Name and No. of Cost Auditor Appointed
  • Membership no.
  • Period for which Appointed.
  • Financial Year to be covered by the cost auditor.
  1. Details of Company Secretary.
  • Name of the Company Secretary of the Company.
  • PAN No.
  • Membership No.
  • CEO or Managing Director (if applicable)
  • CFO (if applicable)
  • SRN Number of AOC 4 / MGT 7 For FY 17-18 SRN of AOC-4/AOC-4 XBRL SRN of MGT-7

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)

How to incorporate the company

www.carajput.com; Incorporation of Company

www.carajput.com; Incorporation of Company

Steps for incorporating the company:-

  • The first step of getting a company incorporated is obtaining the approval of name from Registrar of Companies. A company may adopt any name which is not prohibited under the Emblems and Names (Prevention of Improper Use) Act, 1950.The government has launched a web service RUN (Reserve Unique Name) for reserving name of a proposed company. We can directly submit the application for reserving name online within few minutes (there is no requirement to download e-form like INC-1, and attaching DSC), has been launched for reserving name of new company or for change in name of existing company earlier there was INC-1 for reservation of name of new company or for change in name of existing company. Application form fee shall be Rs.1000/- per form for reservation of name by using RUN web-form.

                    APPROVED NAME IS VALID FOR A PERIOD OF:

20 days from the date of approval (in case name is being reserved for a new company) or

60 days from the date of approval (in case of change of name of an existing company)

  • The preparation of MOA is the next step in the incorporation of a company. It is the law of the company, which states its objects and scope and the company relation with outside world.
  • Other than MOA, the promoters will also prepare AOA of the company. It contains rules and regulations relating to the internal management of the company.

Following other documents are also prepared:

  • Taking consent from directors and filed it with ROC.
  • Promoters have to execute power of attorney in favor of one of them.
  • Form of DIN, PAN & TAN.
  • Form for first director.
  • Form for address of registered office.
  • At the time of registration, prescribed registration fees and filing fee for each document filed for registration are to be paid at the Registrar’s office.

Also we can incorporate company in India through the

 Simplified Performa for Incorporation Company Electronically (SPICE)

MCA will bring new specified procedures for incorporation of company under companies act, 2013. Ministry of corporate affairs introduces E- Form INC-32 by a notification under SPICE Scheme. SPICE means Simplified Performa for Incorporating Company Electronically.

The SPICE form will introduced to bring facility of preparing Electronic MOA & Electronic AOA. This facility is introduced first time in Indian history for incorporation of company. Now there is no need to prepare manual MOA & AOA.

Before of this SPICE form if any person want to incorporate any company then he has to apply by filing different form for DIN, PAN, TAN, approval of name availability, registered office address, first director form etc.

Now it is mandatory to file E-Form INC-32 for incorporation of company in India. If the company is Producer Company and having more than 7 subscribers then E-Form INC-7 have to be filled and if subscribers of Producer Company are less than 7 then it has to filed E-Form INC-32 for incorporation.

According to the notification given by MCA, companies who are incorporated by filing E-Form INC-32 then that company cannot incorporate by filing E-Form INC-7 on or after 29th December, 2016. So, it is compulsory to file E-Form INC-32 for incorporation of company from the date 29 December, 2016.

SPICE Form (INC-32) has following features:-

  • Maximum number of allowed subscribers is seven. If subscribers are more than seven then E-Form INC-7 is filled and normal incorporation procedures of E-Form INC-7 are applied.
  • Maximum twenty directors are allowed.
  • Maximum three directors are allowed for filing application for Director Identification Number.
  • In this form name of company can also be applied.
  • DSC of subscriber is affixed on the INC-33 (E-MOA) For automatically generating date of sign by the form.
  • Applying for PAN / TAN will be compulsory for all the company who are incorporated through SPICE form.

Following difficulties are faced while filing SPICE Form (INC-32):-

  • For foreign subscribers it is difficult to incorporate the company without violating the rule 13 of the companies’ rules, 2014.
  • If company name is approved already in E-Form INC-1 then whether company can apply for incorporation in E-Form INC-32 or not
  • If both the person doesn’t have DIN No. whether they can apply for the incorporation of Company. Or one person mandatorily requires having DIN for filing of this form
  • For incorporation of producer company this form is filled or not.
  • If any company want to incorporate through INC-7 then how the company can do so.

Following documents are attached with the SPICE E-Form (INC-32):-

  1. E-MOA & E-AOA required to be attached.
  2. INC-9 Affidavit and declaration by first subscriber and director (on duly authorized Stamp Papers).
  3. DIR-2 declaration from first Directors along with Copy of Proof of Identity and residential address.
  4. NOC from the owner of the property.
  5. Proof of Office address (Conveyance/ Lease deed/ Rent Agreement etc. along with rent receipts);
  6. Copy of the utility bills (not older than two months)
  7. Declaration from the director non acceptance of Deposit. (On duly authorized Stamp Papers).
  8. In case of subscribers/ Director does not have a DIN, it is compulsory to attach Proof of identity and residential address of the subscribers
  9. E- 49A and E-49B will be filed through MCA website (filed form will be generate by the SRN of INC-33 E-MOA).

Incorporate a new company in a progressive country like India and take following benefits:-

  • In country like India, you have complete ownership of your company.
  • You can also take exemption from taxes in startups companies if eligible.
  • For the foreign person one special benefit is he does not have to require physically present in India he can operate from outside the India except one time present at the time of incorporation.
  • For incorporation you have to open a bank account and you have benefit that ownership of bank account is your own company name.
  • In country like India, Privacy of your all operations is maintained.
  • Annual fees is nominal in India.
  • You have permission to be traded in foreign or can do international business easily.
  • You can purchase properties in India in your company name.
  • Even you can easily set up a operation of an international company.
  • For foreign people one more benefit is they can easily get the business visa for India residency.

You can get above benefits by incorporating your entity in a progressive country like India and also you can get extra benefits in setting up your corporate bank account easily through Rajput Jain& associates.

How Rajput Jain & associates offers services for helping you in formation of company in India it is a one step solution for you:-

  • Get the most comprehensive and perfect Company Formation advice.
  • Helping in set-up your branch company out from your Global entity structure easily.
  • Helping in getting your Commercial License and acquire your India residence visa
  • You can take advantage of Accounting & GST / Tax Consultancy & Advisory Services
  • Easily get Tax Agency Appointment
  • You can get easily perfect Financial Auditor for your existing company
  • You can get all the services before and after the incorporation of company.

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)

CORPORATE AND PROFESSIONAL UPDATE AUG 22, 2016

Professional Update For the Day:

Untitled5

DIRECT TAX:

  • ITAT Chennai held that exemption U/s. 54F will be allowed despite of delayed investment in Capital Gain Account Scheme. The provisions of section 54F are beneficial provisions and are to be considered liberally in the aspect of limitation period [ ACIT vs. Smt. Umayal Annamalai].
  • Allahabad HC upholds penalty levy u/s 272A(2)(k) for assessee’s failure to furnish e-TDS quarterly statements within prescribed time for 5 years and also after issue of notice from the IT Department. Further notes that despite various show cause notices issued by AO, it was only before CIT(A) that assessee, for the first time, offered an explanation for such default, remarks that “that adequate opportunity had been granted to the appellant but the appellant failed to utilize the opportunities.[TS-445-HC-2016(ALL)]
  • CBDT issues Clarifications on Income Declaration Scheme, 2016. CBDT Circular No.29 of 2016 dated 18.08.16.
  • Deduction U/s 35AC available only up to the previous year ending 31-03-2017.
  • CBDT has issued a press release regarding the approval of Eligible Projects or Schemes under section 35AC of the Income Tax Act, 1961 dated 19/08/2016. Section 35AC of the Income Tax Act, as amended by the Finance Act, 2016, provides that no deduction under this section shall be allowed in respect of any assessment year commencing on or after 1st April, 2018.(Click here to view)
  • In the below citied case it was held that benefit of carry forward losses cannot be denied due to belated receipt of ITR-V acknowledgement-(Fibres & Fabrics International (P.) Ltd. v. Deputy Commissioner of Income-tax, Circle 11(3), Bangalore)

INDIRECT TAX:

  • Transfer of goods by way of hiring, leasing, licensing or in any such manner without transfer or right to use such goods is a “declared service” and hence liable to service tax.
  • Delhi High Court held that service Tax on manufacture of alcoholic liquor for human consumption on job work basis with effect from 1st June 2015 is Constitutionally Valid. ( Carlsberg India Private Limited Vs. Union Of India & Ors)
  • Airport runways aren’t roads, their repair and maintenance is liable to service tax. Commercial or industrial construction service was introduced as taxable service under the head “construction service” with effect from 10th September, 2004. The same service was renamed as “commercial or industrial construction service” with effect from 16th June, 2005. Though it refers to repair, alteration, renovation etc., but that does not include such services provided in respect of roads, airports, railways, transport terminal (P. Jain & Company Infrastructure (P.) Ltd. v. Union of India)
  • Refund denial business support service services received inside the port Held that – there is no dispute that the services are with reference to export of goods rendered inside the port, the claim cannot be denied on the ground that tax has been paid under different classification by the provider of service. The Board also clarified that there is no requirement of verification of registration certificate of the supplier of service refund allowed.(Natural Slate & Sandstone Exports Pvt. Ltd. Versus C.C.E., Jaipur I – 2016 (8) TMI 547 – CESTAT NEW DELHI – Service Tax
  • Disallowance made on account of survey charges – Tribunal deleted addition – Held that – We find that the impugned order of the Tribunal has deducted the disallowance on a finding of fact that the tax has already been offered on the same for the Assessment Year 1999-2000 on receiving it from the successful bidder.(The Commissioner of Income Tax-3 Versus Sicom Ltd). – 2016 (8) TMI 610 – BOMBAY HIGH COURT – Income Tax

FAQ ON GST

Start of GST regime

How will imports be taxed under GST?

Answer : The Additional Duty of Excise or CVD and the Special Additional Duty or SAD presently being levied on imports will be subsumed under GST. As per explanation to clause (1) of article 269A of the Constitution, IGST will be levied on all imports into the territory of India. Unlike in the present regime, the States where imported goods are consumed will now gain their share from this IGST paid on imported goods.

How will be Inter-State Transactions of Goods and Services be taxed under GST in terms of IGST method?

Answer: In case of inter-State transactions, the Centre would levy and collect the Integrated Goods and Services Tax (IGST) on all inter-State supplies of goods and services under Article 269A (1) of the Constitution. The IGST would roughly be equal to CGST plus SGST. The IGST mechanism has been designed to ensure seamless flow of input tax credit from one State to another. The inter-State seller would pay IGST on the sale of his goods to the Central Government after adjusting credit of IGST, CGST and SGST on his purchases (in that order). The exporting State will transfer to the Centre the credit of SGST used in payment of IGST. The importing dealer will claim credit of IGST while discharging his output tax liability (both CGST and SGST) in his own State. The Centre will transfer to the importing State the credit of IGST used in payment of SGST.Since GST is a destination-based tax, all SGST on the final product will ordinarily accrue to the consuming State.

FAQ ON COMPANY LAW:

 Query:   Whether independent director of a company could be appointed by the shareholders in general meeting under the Companies Act, 2013?

Answer:   Appointment of Independent Directors- In terms of paragraph IV of schedule IV of the Companies Act, 2013, appointment of independent directors has to be made by the Board of Directors and approval by the shareholders in general meeting

Query:  Can partly paid shares be issued by the way of preferential issue of shares as per Companies Act 2013?

Answer: The Companies (Share Capital and Debenture) Amendment Rules, 2016 have done away with the requirement of shares allotted under preferential allotment to be fully-paid up at the time of allotment. Accordingly, now partly-paid securities can be allotted by means of a preferential issue.

Query: In case of change in Registered office of LLP within state, whether we are required to file Form 3 as well?

Answer: Yes, you are required to file Form 3 in case of change in Registered office of LLP within state enclosing the copy of Supplementary LLP Agreement.

RBI UPDATE

  • SEBI has issued Frequently Asked Questions (FAQs) on SEBI (Alternative Investment Funds) Regulations, 2012.
  • Eminent economist and RBI Dy. Governor, Mr. Urjit Patel replaces Raghuram Rajan as RBI Governor.
  • SEBI has launched electronic mode for payment of penalties, disgorgement as well as settlement amounts.
  • SEBI vide Circular on mutual funds increased the additional exposure limits provided for housing finance companies (HFCs) in financial services sector from 5% to 10%.

Key Dates:

  • Issue of DVAT certificate for deduction made for the month of July-22/08/2016
  • Payment of ESI for the month of July-21/08/2016
  • E-Payment of DVAT & CST tax for the month of July-21/08/2016

The cost of leadership is self-interest.      -Simon Sinek

“Success has only one amazing formula, stop thinking in terms of limitations and start thinking in terms of possibilities.”

“You may only succeed if you desire succeeding; you may only fail if you do not mind failing.”

We look forward for your valuable comments. www.carajput.com

FOR FURTHER QUERIES CONTACT US:

W: www.carajput.com                       E: info@carajput.com                       T: 011-233-4-3333,   9-555-555-460

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)

Government of India has levied a new tax called “Equalisation Levy” effective from June 1, 2016. It is levied on specified services which includes online advertisement services, provision for digital advertising space etc.

Government of India has levied a new tax called “Equalisation Levy” effective from June 1, 2016. It is levied on specified services which includes online advertisement services, provision for digital advertising space etc.

Equalisation Levy – Is it a beginning of a new saga?

www.carajput.com; GST Equalisation Levy

www.carajput.com; GST Equalisation Levy

Tax challenges faced by International Community

In the ever growing digital world it is possible to be heavily involved in the economic life of another country without having a fixed place of business therein which results in base erosion. Base erosion happens when a deductible payment is made for the purpose of business and claimed as business expense but the income arising from such payments is not taxable because of the limitations of existing international taxation rules. For example, deduction claimed by an Indian resident for incurring online advertisement expenses, however, income earned by the non-resident [not having a Permanent Establishment (‘PE’) in India] from rendering such online advertisement services not offered to tax in India in the absence of such non-resident’s PE in India.

Continue reading

Disclaimer: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; before making any decisions do consult your Professional / tax advisor. For misrepresentation or interpretation of act or rules Author does not take any responsibility. Neither the author nor the firm accepts any liability for the loss or damage of any kind arising out of information in this document or for any action taken in reliance there on. carajput.com is committed to helping entrepreneurs and small business owners to start, manage and grow their business with peace of mind. Our goal is to support the entrepreneur on legal and regulatory requirements and to be a partner throughout the entire business life cycle, offering support to the company at every stage to ensure that it is compliant and consistently growing. Hope the information will assist you in your Professional endeavors. For query or help, contact: info@carajput.com or call at 09811322785/4 9555 5555 480)