Corporate Law Reporter - The Daily Journal

Issue in filing of CRA-4 on MCA 21 portal

Attention of Stakeholders: The Institute of Cost Accountants of India is getting several queries relating to filing of CRA-4 on MCA 21 portal. These queries generated by MCA System may be: Attached Instance Document is not prescrutinised for the CIN as entered in the form or Fill all the fields in the form appropriately, etc.… Read More

Non Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) Directions Modifications

RBI/2015-16/196 DNBR.CC.PD.No. 069/03.10.01/ 2015-16 October 01, 2015 To All NBFC-MFIs Madam/ Sir Non Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) Directions Modifications In terms of extant instructions on pricing of credit by MFIs, the maximum variance between the minimum and maximum interest rate on loans cannot exceed 4 per cent. 2. The National Scheduled Castes Finance… Read More

Rate of exchange of conversion of the foreign currency with effect from 2nd October, 2015

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No. 97/2015 - Customs (N.T.) Dated the 1st October, 2015 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise… Read More

Comprehensive Risk Management Framework for National Commodity Derivatives Exchanges

CIRCULAR CIR/CDMRD/DRMP/01/2015 October 01, 2015 To, The Managing Directors /… Read More

Suspension of PAN allotment process

PAN allotment process will remain suspended between 05/10/2015 to 09/10/2015. Inconvenience to the taxpayers is regretted. The income tax department is in the process of upgrading software applications. It is for information of PAN applicants that PAN allotment by Income Tax Department will remain suspended between 05.10.2015 to 09.10.2015 due to PAN data migration activity.… Read More

MCA Notices

Version of Forms MGT-7 and AOC-4(non XBRL) is likely to be modified w.e.f 04 Oct 2015. You are requested to plan accordingly. Dear Corporates,to avoid last minute rush and system congestion on the MCA21 portal on account of Annual Filings during October / November 2015, Companies are requested to file their Annual Return & Financial… Read More

Guidelines on overseas investments and other issues/clarifications for AIFs/VCFs

1. SEBI (Alternative Investment Funds) Regulations, 2012 (AIF Regulations) were notified on May 21, 2012 repealing and replacing the erstwhile SEBI (Venture Capital Funds) Regulations, 1996 (VCF Regulations). As on March 31, 2015, there are 136 Alternative Investments Funds (AIFs) registered with SEBI. 2. Several representations were received from the industry with respect to certain… Read More

Registration of Members of Commodity Derivatives Exchanges

CIRCULAR CIR/MIRSD/4/2015 September 29, 2015 To, All recognized Commodity Derivatives Exchanges and its members Dear Sir/ Madam, Subject: Registration of Members of Commodity Derivatives Exchanges 1. Pursuant to the Notification No. SEBI/LAD-NRO/GN/2015-16/017 dated September 07, 2015 amending the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as Stock Broker Regulations), all existing members… Read More

Regularisation of Assets held Abroad by Person Resident in India under FEMA, 1999

September 24, 2015 Regularisation of Assets held Abroad by Person Resident in India under FEMA, 1999 In connection with the declarations made by persons resident in India under the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act), it is clarified that a) No proceedings… Read More

Income tax:Information notice

The Income Tax Department is in the process of upgrading software applications. It is for information of PAN applicants that PAN allotment by Income Tax Department will remain suspended b/w 05.10.2015 to 09.10.2015 due to PAN data migration activity. However, PAN applications, through on-line and off-line modes, will continue to be received by PAN Service… Read More

Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999

RBI/2015-16/195 A.P. (DIR Series) Circular No.18 September 30, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999 The Government of India has enacted The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax… Read More

Declarations received and amount declared under the compliance window under the Black Money Act

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 1st October 2015 Subject: Declarations received and amount declared under the compliance window under the Black Money Act- regarding The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (the Act) has been… Read More

CBDT defers due date of filing Income Tax Returns to 31st October, 2015 all over India

CLR Note: The Central Board of Direct Taxes has issued a order dated 1st October, 2015 pursuant to Section 119 of the Income Tax Act, 1961 in which it has deferred the due date to 31st October, 2015 for filing of the Income Tax return and audit reports under Section 44AB of the Income Tax… Read More