eMinds Legal Advocates & Solicitors
eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.
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Payment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income-tax Act, 1961
The Central Board of Direct Taxes has issued circular on Payment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income-tax Act, 1961. Payment of interest on refund under section 244A of excess TDS deposited under section 195 Read More
Transactions in derivatives by regulated institutional entities on electronic platforms
RBI/2015-16/392 FMRD.DIRD.No.9/14.03.01/2015-16 May 5, 2016 All Market Participants Dear Madam/Sir, Transactions in derivatives by regulated institutional entities on electronic platforms A reference is invited to para 37 of the First Bi-monthly Monetary Policy Statement announced on April 5, 2016, in terms of which, it was proposed to review the existing guidelines on OTC derivatives in… Read More
Limitation for penalty proceedings under sections 271D and 271E of the Income-tax Act, 1961
The issue whether the limitation for penalty proceedings under sections 271D and 271E of the Income-tax Act, 1961, (hereinafter referred to as the Act) is determined under section 275(1)(a) or section 275(1)(c) of the Act, has given rise to considerable litigation. To download the complete notification, please click on the below link: Limitation for penalty… Read More
Currency Distribution & Exchange Scheme (CDES) for bank branches based on performance in rendering customer service to the members of public
RBI/2015-16/393 DCM (CC) No.G-10/3352/03.41.01/2015-16 May 05, 2016 The Chairman & Managing Director / Chief Executive Officer, All Banks Madam / Dear Sir, Currency Distribution & Exchange Scheme (CDES) for bank branches based on performance in rendering customer service to the members of public Please refer to our Circular DCM (CC) No.4846/03.41.01/2014-15 dated May 21, 2015… Read More
Commencement of limitation for penalty proceedings under sections 271D and 271E of the Income-tax Act, 1961
It has been brought to the notice of the Central Board of Direct Taxes (hereinafter referred to as the Board) that there are conflicting interpretations of various High Courts on the issue whether the limitation for imposition of under sections 271D and 271E of the Income-tax Act, 1961. Commencement of limitation for penalty proceedings under sections… Read More
Delegation of Powers to Regional Directors
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section(ii)] MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 29/4/2016 S.O. E. In exercise of the powers conferred by sub-section(1) of section 458 of the Companies Act(18 of 2013), the Central Government being satisfied that circumstances warrant, hereby delegates the powers to… Read More
FAQ to limit the PDF file size while affixing the DSC
Q. The size of the e-form increases significantly after attaching the DSC. What should be done to optimize the PDF file size? A. Please follow the below instructions to limit the increase in PDF file size while affixing the Digital Signature Certificate (DSC). 1. Open any PDF file or right click any PDF file. 2.… Read More
New version of Forms AOC-4_CFS, AOC-4_XBRL, INC-22, INC-27, MR-2
Forms AOC-4_CFS, AOC-4_XBRL, INC-22, INC-27, MR-2 were recently updated on MCA21 Company Forms page. Stakeholders are requested to check the latest version before filing Read More
ICAI President’s Message – May 2016
Dear Members, The Indian accountancy profession has consolidated itself internationally to register its wise, strong and empowering global presence. Today, The Institute of Chartered Accountants of India produces world-class professionals who along with the desired IT and soft skills are professionally competent and fit to work in and for international economies in multicultural environment. Well… Read More
Investment Policy, Liquid Assets for the purpose of Calculation of Net Worth of a Clearing Corporation and Transfer of Profits
CIRCULAR SEBI/HO/MRD/DRMNP/CIR/P/2016/54 May 04, 2016All recognized Clearing Corporations and Stock Exchanges Dear Sir / Madam Subject: Investment Policy, Liquid Assets for the purpose of Calculation of Net Worth of a Clearing Corporation and Transfer of Profits 1) SEBI notified Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, (hereinafter referred to as 'SECC' Regulations,… Read More
Unavailable MCA21 system from Wednesday, 4th May, 10:00 pm to Thursday, 5th May 4:00 am
The MCA21 system will be temporarily unavailable from Wednesday, 4th May, 10:00 pm to Thursday, 5th May 4:00 am IST for system optimization. Stakeholders are requested to plan accordingly Read More
Restriction on EPF withdrawal
As per extant rules governing the withdrawal of Employer’s contribution from the Employees Provident Fund Scheme, a member can withdraw both the employer’s share of contribution and his own share under the following circumstances: - (i) On retirement from service after attaining the age of 55 years. (ii) On retirement on account of permanent and… Read More
Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI)
Government Approves Seven (07) Proposals of Foreign Direct Investment (FDI) Amounting to Rs. 517.57 crore Approximately Based on the recommendations of Foreign Investment Promotion Board in its 233rd meeting held on 8th April 2016, the Government has approved seven FDI proposals involving FDI of Rs. 517.57 crore, which includes post facto amount of Rs. 18.46… Read More
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