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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CBDT to remit IT refunds directly in the bank accounts of assesses
The department is also planning to fully adopt and use banking services to end the current system of sending I-T refunds over the value of Rs 50,000 via cheques through the postal department. In a step that would bring delight to taxpayers, the Income Tax department has put in motion a new plan which will… Read More
New CSR policy to boost water & sanitation sector
MUMBAI: The new amendment made by the Modi Government in the Companies Act is expected to facilitate faster channelisation of Rs 20,000 crore CSR budget, a major chunk of which will go into clean water and sanitation sector, which is in focus due to Swachh Bharat Abhiyan. "The latest amendment in the Companies Act 2013… Read More
High-level committee to look at more changes in Companies Act
Another round of amendments to Companies Act 2013 are in the pipeline after the government eased a host of provisions of the comprehensive law enacted by the previous UPA government that was seen by many experts as draconian in its penal provisions. Provisions related to intercorporate loans, managerial remuneration, independent directors, insolvency and SMEs are… Read More
Government panel to suggest ways to monitor CSR works
NEW DELHI: The government has set up a high level panel to suggest a framework to assess CSR activities done by corporates under the companies law. Certain class of profitable companies are required to shell out at least 2 per cent of their three-year average annual net profit towards Corporate Social Responsibility (CSR) activities. The… Read More
RBI extends deadline to exchange pre-2005 currency notes till Dec 31
Reserve Bank of India on Thursday extended the deadline for exchanging pre-2005 currency notes of various denominations, including of Rs 500 and Rs 1,000, by six months till December 31, 2015. The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015 as against earlier… Read More
PE deals touch a new high in 2015
Private Equity (PE) firms are working at full throttle. Be it fund raising, fresh investment, exits or secondary transactions all seems to be heating up now like never before. As per the latest available data, there has seen 350 PE transactions worth $12.69 billion which is higher than previous annual record of $10.88 billion in… Read More
Sebi to soon come out with crowd-funding norms to help young entrepreneurs
Capital market regulator Sebi is expected to come out soon with crowd-funding norms to help young entrepreneurs and small groups of people raise funds. This would provide another avenue for new-age companies to mop-up funds after Sebi approved a new alternative trading platform for Internet start-ups to tap the capital markets. While it is still… Read More
Ease of doing Business in India help companies to take startup as private companies
The recent relaxations in the Companies Act, 2013, notified by the ministry of corporate affairs (MCA) for private sector, such as issue of share capital to reduced compliance burden, has caught the attention of budding entrepreneurs. As a minimum share capital is no longer required at the time of incorporation, rather than opting for other… Read More
Review of FDI Policy on investments by Non Resident Indians (NRIs), Person of Indian Origins (PIOs) and Overseas Citizens of India (OCIs).
With effect from June 18, 2015, the following changes under the FDI Policy will be made applicable in relation to the investments by NRIs, PIOs and OCIs: Revised definition of Non Resident Indians (NRIs)- As per clause 2.1.27 of the FDI Policy, NRI means an individual resident outside India who is a citizen of India or… Read More
Review of the investment limits for cases requiring prior approval of the Foreign Investment Promotion Board (FIPB)/Cabinet Committee of Economic Affairs (CCEA)
With effect from June 18, 2015, the levels of approval of cases under the government approval route under the Consolidated Foreign Direct Investment Policy, 2015 (FDI Policy) will be changed and the revised position will be as follows: The Minister of Finance (MOF) who is in charge of FIPB would consider the recommendations of FIPB… Read More
MCA likely to notify Form INC-4, 1,29 and Form 4LLP w.e.f. 24th June, 2015
The Ministry of Corporate Affairs has come up with the General news that version of Form INC-4, INC-1, INC-29 and Form 4LLP are likely to be notified with effect from 24th June, 2015. So, all the stakeholders are requested to plan accordingly and file the necessary e-forms. Read More
CBDT notifies ITR-1, ITR-2, ITR-2A and ITR-4S to be filed for AY 2015-16
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely vide Notification No. 49/2015 dated 22nd June, 2015:- 1. (1) These rules may be called the Income-tax (8th Amendment)… Read More
MCA to expedite the process to notify the threshold and rules for tagging the corporate frauds
Companies Act, 2013 being a stringent legislation would soon require the auditors to report and alert the authorities in case of any fraud including sum of at least Rs. 1 crore or 10 % of the company turnover. This mandatory reporting is an early alarm bell being put in place by the regulators to prevent… Read More
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