Corporate Law Reporter - The Daily Journal

CBDT releases e-filing utility for ITR 3, ITR 4 and ITR 7 for A.Y. 2015-16

CBDT has finally enabled e-filing utility for ITR 3, ITR-4 and ITR-7 for Assessment Year 2015-16. To download the forms please access the link given below: https://incometaxindiaefiling.gov.in/ Read More

Government nod not required for 49% Foreign Portfolio Investment in many sectors

With a view to strengthen the Foreign Investment policy, the Government has allowed 49% Foreign Portfolio Investment in many sectors through Automatic route in many of the sectors which include pharmaceuticals, single brand retail, insurance, pension etc. which allows the composite foreign investment caps in all the sectors barring private banking and defence sectors. Earlier, these… Read More

Sebi eases the Delisting Regulations

The Securities and Exchange Board of India has made the delisting norms easier by bringing out changes such as the promoters either will have to ensure that at least 25 per cent of minority shareholders participate in such a process or can demonstrate that the entire 100 per cent investors have been approached to ensure that… Read More

Version of Forms Form 20B, Form 23AC, Form 21A, Form 23ACA, Form 66, Form 23ACA (XBRL), Form 4 LLP, Form FC-4, Form 23B, Form FC-1, are modified w.e.f 1st Aug 2015

MCA has modify the Version of following Forms w.e.f 1st August 2015 Form 20B, (Form for filing annual return by a company having a share capital with the Registrar) Form 23AC, (Form for filing Balance Sheet and other documents with the Registrar) Form 21A,(Particulars of Annual Return for the Company not having share capital) Form 23ACA (Form for filing Profit and Loss account and other documents with the Registrar) Form 66, (… Read More

Government aims to take stringent steps to tap black money

The government of India is initiating effective steps to deal with black money and will focus on high-impact cases to prosecute the offenders expeditiously against the tax evasion. The effective steps to deal with the black money issue includes putting in place robust and effective legislative mechanism and administrative frameworks with focus on building better… Read More

Govt plans to allow PF subscribers to pledge future PF to pay home loan

The government is considering the proposal of allowing the subscribers of the Provident Fund to pledge their future stream of provident fund contributions to pay off housing loans. The option for this has been recommended by an expert committee set up by the Retirement Fund Body to achieve the mission of the Modi™s Government to… Read More

Review of Guidelines on Restructuring of Advances by NBFCs

RBI/2015-16/144 DNBR.CO.PD.No. 067/03.10.01/2015-16 July 30, 2015 All NBFCs excluding Primary Dealers Dear Sirs, Review of Guidelines on Restructuring of Advances by NBFCs Please refer to the circulars DNBS.CO.PD.No.367/03.10.01/2013-14, dated January 23, 2014 and DNBR.CO.PD.No.011/03.10.01/2014-15 dated January 16, 2015, on the captioned subject. 2. In terms of the extant instructions contained in the above mentioned circulars, revisions of the… Read More

CBDT notifies Form ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 and companies to report CSR spent in ITR 6

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Income-tax NOTIFICATION New Delhi, the 29th day of July, 2015 S.O. 2070 (E).”€ 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… Read More

SEBI cautions investors not to invest in schemes offered by entities barred by SEBI from raising money or entities not registered with SEBI

Certain Collective Investment Scheme(s) (CIS) have come to the notice of SEBI, which are offered by entities which are not registered with SEBI nor offer document of such schemes have been filed with SEBI. Appropriate actions have been taken against such entities and its Directors and since January 01, 2011, SEBI has passed orders against 91 entities and… Read More

Government looking for Cabinet™s nod for amendments to GST Bill

The Government is looking for the Cabinet™s nod to amend the Constitution Bill on Goods and Services Tax by incorporating some of the suggestions from the Rajya Sabha, and thereby will soon seek the approval of the Cabinet to introduce this bill. Further, the government has entered into an agreement in which they have agreed… Read More

Finance Ministry to launch ˜Project Insight™ soon to tap the tax evaders owning Black Money

The Ministry of Finance (MOF) is likely come out soon with a big project called the ˜Project Insight™ for catching hold of the tax evaders in the country, for which the ministry has also floated a tender worth Rs. 150 crores to establish the project as discussed in the Parliamentary Standing Committee of finance to… Read More

MCA aiming high initiatives on implementing changes under CA 2013

The mandate of the Ministry of Corporate Affairs primarily concerns administration of the legal framework within which companies registered in India are to operate along with some other connected matters. The Ministry of Corporate Affairs had initiated and is also initiating many changes essential to improve the legal framework, simplify procedures and speed up decision-making for ease… Read More

FDI prohibited under in Multi Brand retail under trading norms

The government has categorically informed the European Union (EU) that it will not allow European multibrand retail firms to set up shop here, even as both sides decided to resume negotiations towards concluding the long-pending Bilateral Trade and Investment Agreement (BTIA). While the negotiations for a BTIA, or a free trade agreement (FTA) as it… Read More