The Blog

KYC Of Directors

The MCA has notified the format of E-form DIR-3 KYC under new Rule 12A, vide the ‘Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018’, via notification dt.05.07.2018 applicable w.e.f. 10 July, 2018. Checkout details : 1) Who is required to file DIR-3 KYC As per these rules, individuals who have been allotted a Director Identification Number (DIN) as on 31st March of a financial year shall submit e-form DIR-3-KYC to the Central Government on or

Tax Audit Amendments

CBDT on 20 July, 2018 Notifies Amendments in Form 3CD (Tax Audit Report), applicable from 20 August, 2018: Income-tax (8th Amendment) Rules, 2018 Summary of Amendments in Tax Audit Report. : Clause No Amendments/Insertion 4. (amended) GSTIN to be Mentioned 19. (amended) Allowances under Section 32AD to be reported 24. (amended) Deemed gains u/s 32AD to be reported 26. (amended) Reporting of any sum payable to Railways u/s 43B(g) which is not allowable as deduction for non-payment 29A.

PRESUMPTIVE TAXATION SCHEME

PRESUMPTIVE TAXATION SCHEME SECTION 44AD, 44ADA & 44AE OF INCOME TAX ACT,1961. To reduce the tax burden and to provide relief from tedious work to small tax assesses, the government of India has incorporated a scheme of presumptive taxation. Businesses adopting the presumptive taxation scheme are not required to maintain regular books of account. They can declare the income at a prescribed rate. The presumptive taxation scheme is framed under three sections- Section 44AD and Section 44ADA &

Scope of XBRL reporting widens

Applicability of XBRL: As per Section 137 of Companies Act, 2013, the following class of companies shall file their financial statements and other documents under section 137 of the Act with the Registrar in e-form AOC-4 XBRL:- (i) Companies LISTED with stock exchanges in India and Their Indian Subsidiaries; (ii) Companies having Paid Up Capital of Five crore rupees or above; (iii) Companies having Turnover of One Hundred crore rupees or above; (iv) All companies which are required to

COMPANIES FRESH START SCHEME, 2020 (CFSS-2020)

COMPANIES FRESH START SCHEME, 2020 (CFSS-2020) The Central Government in exercise of powers conferred under Section 460 read with Section 403 of the Companies Act, 2013 has decided to introduce a scheme namely “COMPANIES FRESH START SCHEME, 2020 (CFSS-2020), It shall facilitate the companies registered in India to make a fresh start on a clean slate. This scheme is one-time opportunity to enable defaulting companies to complete their pending compliances by filing necessary documents in

MCA allows companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails

MCA allows companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails Posted On: 08 APR 2020 7:58PM by PIB Delhi The Ministry of Corporate Affairs (MCA) is fully cognizant of the difficulties faced by companies on account of the ongoing nation-wide lockdown and social distancing due to COVID 19. The Ministry has also taken note of various representations received from industry associations and

Statutory Due Dates