Category: MCA

MCA’s Frequently Asked Questions on eligibility of CSR expenditure related to COVID-19 activities.

April 17, 2020 Chandan Tiwari No Comments

The Ministry of Corporate Affairs (MCA) has been receiving several references/ representations from various stakeholders seeking clarifications on eligibility of CSR expenditure related to COVID-19 activities. In this regard, a set of Frequently Asked Questions (FAQs) along with clarifications are provided below for better understanding of the stakeholders. Fre quently Asked Questions (FAQs) Reply Whether…

MCA, Media, MSME

MCA allows companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails.

April 9, 2020 Chandan Tiwari No Comments

The Ministry of Corporate Affairs (MCA) is fully cognizant of the difficulties faced by companies on account of the ongoing nation-wide lockdown and social distancing due to COVID 19. The Ministry has also taken note of various representations received from industry associations and corporates on the need to facilitate companies in taking certain emergent/ urgent…

Marketing, MCA, Media

Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 today.

April 9, 2020 Chandan Tiwari No Comments

In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance on 31.03.2020 which provides for extension of various time limits under the Taxation…

E-Assessment, Income Tax, Marketing, MCA, Media, MSME

Ministry of Corporate Affairs introduces the “Companies Fresh Start Scheme, 2020” and revised the “LLP Settlement Scheme, 2020” to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19.

April 8, 2020 Chandan Tiwari No Comments

In pursuance of the Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Settlement Scheme, 2020” which is already in vogue to provide a…

Income Tax, Marketing, MCA, Media, MSME

CBDT issues orders u/s 119 of IT Act,1961 to mitigate hardships to taxpayers arising out of compliance of TDS/TCS provisions.

April 8, 2020 Chandan Tiwari No Comments

Due to outbreak of the Covid-19 pandemic, there is severe disruption in the normal working of almost all sectors. To mitigate the hardships of taxpayers, the CBDT has issued the following directions/clarifications by exercise of its power u/s 119 of the Income-tax Act, 1961 (the Act): All the assessees who have filed application for lower…

E-Assessment, Government Business, Income Tax, Marketing, MCA, Media, MSME

Finance Minister announces several relief measures relating to Statutory and Regulatory compliance matters across Sectors in view of COVID-19 outbreak.

March 30, 2020 Chandan Tiwari No Comments

The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press conference through video conferencing here today, Smt. Sitharaman announced much-needed relief measures in…

E-Assessment, GeM Portal, Government Business, GST, GST Advance Ruling Authority, GST Intelligence, GST On Trust, Income Tax, Marketing, MCA, Media, MSME, NCSRA, Society & NGO, Startup

Tax on Cotton and Man-Made Fibres.

March 14, 2020 Chandan Tiwari No Comments

GST on cotton is 5% across the entire textiles value chain whereas GST rates on manmade fibres (MMF) and textiles are 18%, 12%, and 5% on fibre, filament yarn/ spun yarn and fabrics respectively. The matter of implementation of a uniform tax structure for the MMF value chain (from feedstock to fabric) was already referred…

GST, GST Advance Ruling Authority, GST Intelligence, Income Tax, MCA, Media, MSME

LLP settlement Scheme, 2020 launched ; Shall allow a One-time condonation of delay in filing statutorily required documents with the Registrar.

March 5, 2020 Chandan Tiwari No Comments

It has been observed that due to applicability of additional fee on late filing, which in case of inordinate delay could actually become a financial burden, a large number of Limited Liability Partnerships (LLPs) have remained non-compliant, mainly on account of their inability to pay late fees for the cumulative period of delay. As part…

Marketing, MCA, Media, MSME, Startup

Companies (Second Amendment) Bill, 2019 would enable the listing of Indian companies on stock exchanges in foreign jurisdictions.

March 5, 2020 Chandan Tiwari No Comments

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved the Companies (Second Amendment) Bill, 2019 to amend the Companies Act, 2013. The Amendment Bill, inter alia, would enable the listing of Indian companies on stock exchanges in foreign jurisdictions. The listing of Indian companies in foreign stock exchanges is expected to…

MCA, Media, MSME, Startup

New and innovative measures to improve working in MCA.

March 4, 2020 Chandan Tiwari No Comments

The Ministry of Corporate Affairs (MCA) has taken several initiatives to achieve the vision of being a facilitator of world class governance of corporates and Mission of easing compliance, balancing interest of stakeholders and achieving excellence in service delivery. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate…

Marketing, MCA, Media, MSME, Startup