Legal Updates - Corporate Law Reporter

Clarification with regard to companies (Accounting Standards) Amendment Rules, 2016

General Circular No. 04/2016 F. No.01/01/2009-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr R.P. Road, New Delhi Dated: 27th April, 2016 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarification with regard to Companies (Accounting Standards) Amendment Rules 2016 Sir, Stakeholders have sought clarifications with regard to… Read More

Section 396 of CA 2013 – Jurisdiction of the state of Telanganas

CLR Notes: Regional Director, Hyderabad given powers for the state of Telangana [To be published in the Official Gazette, Extra Ordinary Part-II, Section-3, sub-section(ii)] Ministry of Corporate Affairs Notification New Delhi, Dated: 26th April, 2016 S.O____In exercise of the powers conferred by sub-section(1) of section 396 of the Companies Act, 2013 (18 of 2013) (herein… Read More

Extension of time till 29-4-2016 for filing ST-3 returns

F.No.137/99/2011-Service Tax Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs Service Tax Wing *** New Delhi, dated the 25th April, 2016 ORDER NO: 1 /2016-Service Tax In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central Board of Excise… Read More

Ease of Doing Business

The Ministry of Corporate Affairs has taken a number of measures to improve doing business environment in the Country. To facilitate ease of doing business, the Ministry of Corporate Affairs has introduced an integrated INC-29 form for incorporation of companies, omitted requirement for minimum paid up capital, made mandatory common seal for companies optional and… Read More

Changes in FCRA

As per Foreign Contribution (Regulation) Amendment Rules, 2015 notified in Gazette of India on 14.12.2015, the Bank shall report to the Central Government within forty-eight hours any transaction in respect of receipt and utilization of any foreign contribution by any person whether or not such person is registered or granted prior permission under the Foreign… Read More

Amendment in notification No. 12/2012-Customs dated 17.03.2012

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 29/2016-Customs New Delhi, the 26th April, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962),… Read More

Employees Contributions to EPF

As per the Audited Consolidated Annual Accounts of Employees’ Provident Fund Organization (EPFO) for the year 2014-15, the closing balance of Funds managed by EPFO is Rs. 6,34,174.33 crore. Regarding EPFO being the eleventh largest pension fund in the world, no such information is available with EPFO. The fresh accruals in 2015-16 in the three… Read More

e-Governance award to EPFO

Employees’ Provident Fund Organisation has been given Gold Award under category “Cat-III – Innovative use of Technology in e-Governance” in the National Award on e-Governance 2015-2016 for its Universal Account Number (UAN) Programme. The award was presented during the 19th National Conference on e-Governance held at Nagpur, Maharashtra on 21st -22nd January 2016. This information… Read More

Amendment to PF Act

A proposal for comprehensive amendment to the Employees’ Provident Funds and Miscellaneous Provisions (EPF & MP) Act, 1952 is under consideration of the Government which, inter alia, includes reducing threshold limit for coverage from 20 to 10 employees under the Act. This was stated by Shri Bandaru Dattatreya, MoS (IC) Labour and Employment in written… Read More

ICSI organises International Corporate Governance Day

15 April 2016 CHIEF OF BUREAU PRESS RELEASE ICSI organises International Corporate Governance Day -Corporate Governance to play vital role in ‘Ease of doing Business’ - New Delhi, Friday, 15th April 2016: In order to have an effective system of rules, practices and processes by which a corporate is directed and controlled, The Institute of… Read More

Extension of due date of DVAT return filing till 16/05/2016 for Q4 15-16

DVAT: Team Sales Tax Bar Association met VATCOM, he assured extension of return filing due date till 16/05/2016 for Q4 15-16. Further assured ITEM NAME AND ITEM CODE to be optional for Q4 15-16. DIGITAL SIGNATURE also made optional for Q4 (All dealers). Circulars to follow soon. Extension of due date of return filing till 16/05/2016 for… Read More

Due date for filing of Service Tax return for the period October-March, 2015-2016 extended from 25th to 29th April, 2016

Due date for filing of Service Tax return for the period October-March, 2015-2016 has been extended from 25th to 29th April, 2016 Read More

Disclosure of Proprietary Trading by Commodity Derivatives Broker to Client and “Pro – account” Trading terminal

CIRCULAR SEBI/HO/CDMRD/DMP/CIR/P/2016/49 April 25, 2016 To, The Managing Directors / Chief Executive Officers of All Commodity Derivatives Exchanges and their members Dear Sir / Madam, Sub: Disclosure of Proprietary Trading by Commodity Derivatives Broker to Client and “Pro - account” Trading terminal 1. In order to increase the transparency in the dealings between the stock… Read More