Corporate Law Reporter - The Daily Journal

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

BANKRUPTCY CODE: A PROGRESSIVE BILL AND A NEED OF THE HOUR

INTRODUCTION: Law as an instrument is the best tool as well as the worst disability. It can enable you, and at the same time varied interpretation of the same law may disable your process. It is, therefore, of central importance that law should enable business or what in better way is known as enable “ease… 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

SME….!!! A New Opportunity for Private Company..!

SME....!!! A New Opportunity for Private Company..! In the Present era, the market is booming up so every Company want to take opportunity to earn more from the same market and want to get maximum benefits out of that, so what are the ways available for Company to avail such benefits. So for that,… 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