Company Law

Statutory Obligations for the month of December 2023

The below are the various Statutory Obligations for the month of December 2023.Please ensure to comply with the obligations to avoid Interest / Penalty Sl. No Nature of Statutory Obligation Statute Due Date Link 1 Due Date for Payment of TDS for the month of November 2023 Income-Tax 07th Dec 2023 Link for Payment of […]

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Extension of time for conduct of AGM by Companies extended

Every company registered under the Companies Act, 2013 has to conduct its AGM every year. The due date for the same normally falls on or before 30th September for most of the Companies. Due to various representations received from the stakeholders, the Ministry of Corporate affairs has extended the time of holding Annual General Meetings

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Extension of time for Annual General Meeting for Companies

In view of the Carona Pandamic, the due date for conducting Annual General Meeting in respect of Companies governed by Companies Act 2013 has been deemed to have been extended for a further period of 3 months (till 31st Dec 2020). Accordingly, since all the Registrars are empowered to provide this extension, all the Registrar

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Contribution to PM CARES fund – eligible as CSR Spending

The MCA , vide its Gazette Notification No GSR 313(E) dtd 26th may 2020 has made a significant change in the CSR Spending claims w.r.t. Contribution to PMCARES fund. As per this notification, the PM CARES fund is eligible to receive contributions from corporate social responsibility (CSR) corposus of Corporates. Accordingly, changes have been made

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New Corporate Income tax rate 22%- Should Proprietory/Partnership/LLP consider to convert themselves?

The announcement of the finance minister regarding the reduction of rate of Income-tax in respect of Domestic Companies to 22% has created lot of interest amongst all entrepreneurs to go into corporate form of business considering the tax benefits. The below table is a comparison of tax liability for various types of Organisations for different

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Due date for ROC Returns (AOC-4 & MGT-7) Extended only for Tamilnadu & Puducherry

Due to the recent heavy rains and floods in the State of Tamilnadu & UT of Pondicherry and as per various representations received, the Ministry of Corporate Affairs has decided to relax the additional fees payable on e-forms AOC-4,AOC(CFS), AOC-4(XBRL) and e-form MGT-7 upto 30th January 2016, wherever additional fees is applicable.This will be applicable

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Important Relief to Pvt Ltd Companies regarding Loan from Directors,relatives…

The Companies Act, 2013 had imposed certain restriction on acceptance of Deposits from Members, Directors & relatives. These were covered by Companies Acceptance of Deposits rules. There was no clarity on the deposits,loans accepted by the Private Limited Companies prior to 1st April 2014. In order to clarify the same, the Ministry of Corporate affairs

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Company Law Settlement Scheme 2014 extended again..

As you are aware, the Ministry of Company Affairs (MCA) had announced a scheme Company Law Settlement Scheme (2014) (CLSS 2014) to facilitate corporate entities having backlog in filing the Annual Returns and Balance sheets with the Registrar of Companies. As per the scheme, a concession in the additional fees and also immunity from prosecution

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Company Law Settlement Scheme 2014 Last date extended…

In view of the various representations received from the various stakeholders, the Last date for availing the Company Law Settlement Scheme has been extended to 15th November 2014. Originally, the scheme was to end on 15th October 2014. The stakeholders were put on hardship due to slowdown in the MCA portal . In view of

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Company Law Settlement Scheme 2014 – Opportunity for Companies

The Ministry of Corporate Affairs vide its Circular No 34/2014 dtd 12th August 2014 has introduced a new scheme for Companies for filing their backlog Annual Returns.   WHOM THIS SCHEME APPLIES? This scheme is applicable for defaulting companies which have made a default in filing of annual Statutory Documents.   WHOM THIS SCHEME DOES

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MCA releases draft notification for Exceptions/Modications relating to Private Limited Companies

The Ministry of Corporate Affairs has published a draft notification in its website www.mca.gov.in relating to the Exceptions/Modifications/Adaptations with regard to provisions in the Companies Act, 2013 relating to the Private Limited Companies. Suggestions/Comments on the proposed draft notification may be addressed/sent latest by 1st July, 2014 through email at exemptions@mca.gov.in. It has been requested that the

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