Insights

Long Term Capital Gains Tax on Sale of Unlisted shares in Indian Companies

There are several instances where NRIs as well as Residents have invested in shares of Indian private sector companies, especially in those carrying on business of mobile applications, software developments, hospitality etc. and gone abroad later. The value of the shares of some of these companies has gone up exponentially  in recent years on account […]

Modified LLP Settlement Scheme- Clear pending filings without any late fees

What is Modified LLP Settlement Scheme 2020   Ministry of Corporate affairs has notified the modified LLP Settlement Scheme 2020 to provide a one-time opportunity for the defaulting Limited Liability Partnerships registered in India to file their pending returns and document without any late/additional fees and also to provide immunity from all legal proceedings in […]

Companies Fresh Start Scheme 2020

A golden opportunity for defaulter companies to become compliant with savings of lakhs of rupees. What is Companies Fresh Start Scheme 2020 (CFSS 2020)? In order to facilitate the companies registered in India to make a fresh start on a clean slate, Ministry of Corporate Affairs has introduced Company Fresh Start Scheme 2020 vide MCA […]

Every Company other than Govt. Company shall File ONE TIME Return in E-Form DPT – 3 before 22nd April 2019.

Purpose: Disclosure of outstanding receipt of money or Loan which are not considered as DEPOSITS, in term of clause ( c ) of sub-rule 1 of Rule 2 from 1st April 2014 to 22nd January 2019. Details required for filing the Form DPT-3 is as follows. Please confirm and certify that the company has accepted […]

Form INC-22A ACTIVE Another Mandate for Companies in India

  MCA has introduced Form INC-22A ACTIVE seeking particulars of every company that is incorporated on or before the 31st December 2017 including location photo of Registered Office. This form is to be filed on or before 25th April 2019. Information required to be furnished in Form INC-22A ACTIVE Name & Address of the company […]

MCA DETECTING SHELL COMPANIES: ANOTHER MANDATE FOR COMPANIES IN INDIA

MCA has introduced e- Form ACTIVE (Form INC 22A ) seeking particulars of every company that is incorporated on or before the 31st December 2017 including location photo of Registered Office. This form is to be filed on or before 25th April 2019.Companies who do not intimate these said particulars to the Registrar will be marked as “ACTlVE-non-compliant” and will be liable for action

CERTIFICATE OF COMMENCEMENT OF BUSINESS

From 02 November 2018, obtaining of Certificate of Commencement of Business has been made mandatory for all companies in order to commence business activities.

Key highlights of amendments to various Rules under Companies Act, 2013 – 12/05/2018, by Krishnakumar A, FCA

View Document By clicking here    

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Relaxations under GST Law

  # Relaxations under GST Law 1 Relaxation in late fees for filing 3B a.For the month March 2021 No late fee if filed (i)  On or before 5th May 2021 where turnover is > Rs. 5Cr and (ii) 20th May 2021 where turnover is < Rs. 5 Cr b.For the month April 2021 No [...]

How and why did Byju’s pay 1B USD (approx. 7400 crores) for Aakash?

On 5 April 2021, Byju’s announced the acquisition of 33-year-old Akash Educational Services for 1B dollars (approx. 7400 Crores) which is the highest valued deal in the Edtech sector in the world. It is known that Byju’s paid close to $600 million in cash and the rest in shares of the parent company. Some vital [...]

May 2021 – Compliance Calendar

May Sl. No Particulars Due Date Direct Tax 1 Due date for deposit of Tax deducted/collected for the month of April, 2021. 7-May-2021 2 Due date for issue of TDS Certificate for tax deducted under Section 194-IB /194-IA  in the month of March, 2021 15-May-2021 3 Quarterly statement of TCS deposited for the quarter ending […]

April 2021 – Compliance Calendar

April Sl. No Particulars Due Date Direct Tax 1 Due date for issue of TDS Certificate for tax deducted under Section 194-IA & 194-IB in the month of February, 2021 14 April 2021 2 Furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA & 194-IB in month of March, 2021 30 April 2021 3 […]

Long Term Capital Gains Tax on Sale of Unlisted shares in Indian Companies

There are several instances where NRIs as well as Residents have invested in shares of Indian private sector companies, especially in those carrying on business of mobile applications, software developments, hospitality etc. and gone abroad later. The value of the shares of some of these companies has gone up exponentially  in recent years on account […]

Key Highlights of Finance Bill 2021

Meaning The Finance Bill is a part of the Union Budget, stipulating all the legal amendments required for the changes in taxation proposed by the Finance Minister. This Bill encompasses all amendments required in various laws pertaining to tax, in accordance with the tax proposals made in the Union Budget. The Finance Bill, as a […]

March 2021 – Compliance calendar

March Sl. No Particulars Due Date Direct Tax 1 Deposit of TDS & TCS for February 2021 07 March 2021 2 Due date for issue of TDS Certificate for tax deducted under Section 194-IA & 194-IB in the month of January, 2021 14 March 2021 3 Last instalment of advance tax for the AY 2021-22 […]

February 2021 – Compliance calendar

February Sl. No Particulars Due Date Direct Tax 1 Deposit of TDS & TCS for January 2021 07 February 2021 2 Due date for issue of TDS Certificate for tax deducted under Section 194-IA & 194-IB in the month of December,2020 14 February 2021 3 Extended due date for filing return of income for the […]

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Long Term Capital Gains Tax on Sale of Unlisted shares in Indian Companies

There are several instances where NRIs as well as Residents have invested in shares of Indian private sector companies, especially in those carrying on business of mobile applications, software developments, hospitality etc. and gone abroad later. The value of the shares of some of these companies has gone up exponentially  in recent years on account […]

Modified LLP Settlement Scheme- Clear pending filings without any late fees

What is Modified LLP Settlement Scheme 2020   Ministry of Corporate affairs has notified the modified LLP Settlement Scheme 2020 to provide a one-time opportunity for the defaulting Limited Liability Partnerships registered in India to file their pending returns and document without any late/additional fees and also to provide immunity from all legal proceedings in […]

Companies Fresh Start Scheme 2020

A golden opportunity for defaulter companies to become compliant with savings of lakhs of rupees. What is Companies Fresh Start Scheme 2020 (CFSS 2020)? In order to facilitate the companies registered in India to make a fresh start on a clean slate, Ministry of Corporate Affairs has introduced Company Fresh Start Scheme 2020 vide MCA […]

Every Company other than Govt. Company shall File ONE TIME Return in E-Form DPT – 3 before 22nd April 2019.

Purpose: Disclosure of outstanding receipt of money or Loan which are not considered as DEPOSITS, in term of clause ( c ) of sub-rule 1 of Rule 2 from 1st April 2014 to 22nd January 2019. Details required for filing the Form DPT-3 is as follows. Please confirm and certify that the company has accepted […]

Form INC-22A ACTIVE Another Mandate for Companies in India

  MCA has introduced Form INC-22A ACTIVE seeking particulars of every company that is incorporated on or before the 31st December 2017 including location photo of Registered Office. This form is to be filed on or before 25th April 2019. Information required to be furnished in Form INC-22A ACTIVE Name & Address of the company […]

MCA DETECTING SHELL COMPANIES: ANOTHER MANDATE FOR COMPANIES IN INDIA

MCA has introduced e- Form ACTIVE (Form INC 22A ) seeking particulars of every company that is incorporated on or before the 31st December 2017 including location photo of Registered Office. This form is to be filed on or before 25th April 2019.Companies who do not intimate these said particulars to the Registrar will be marked as “ACTlVE-non-compliant” and will be liable for action

CERTIFICATE OF COMMENCEMENT OF BUSINESS

From 02 November 2018, obtaining of Certificate of Commencement of Business has been made mandatory for all companies in order to commence business activities.

Key highlights of amendments to various Rules under Companies Act, 2013 – 12/05/2018, by Krishnakumar A, FCA

View Document By clicking here    

View all
case Study

Relaxations under GST Law

  # Relaxations under GST Law 1 Relaxation in late fees for filing 3B a.For the month March 2021 No late fee if filed (i)  On or before 5th May 2021 where turnover is > Rs. 5Cr and (ii) 20th May 2021 where turnover is < Rs. 5 Cr b.For the month April 2021 No [...]

How and why did Byju’s pay 1B USD (approx. 7400 crores) for Aakash?

On 5 April 2021, Byju’s announced the acquisition of 33-year-old Akash Educational Services for 1B dollars (approx. 7400 Crores) which is the highest valued deal in the Edtech sector in the world. It is known that Byju’s paid close to $600 million in cash and the rest in shares of the parent company. Some vital [...]

May 2021 – Compliance Calendar

May Sl. No Particulars Due Date Direct Tax 1 Due date for deposit of Tax deducted/collected for the month of April, 2021. 7-May-2021 2 Due date for issue of TDS Certificate for tax deducted under Section 194-IB /194-IA  in the month of March, 2021 15-May-2021 3 Quarterly statement of TCS deposited for the quarter ending […]

April 2021 – Compliance Calendar

April Sl. No Particulars Due Date Direct Tax 1 Due date for issue of TDS Certificate for tax deducted under Section 194-IA & 194-IB in the month of February, 2021 14 April 2021 2 Furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA & 194-IB in month of March, 2021 30 April 2021 3 […]

Long Term Capital Gains Tax on Sale of Unlisted shares in Indian Companies

There are several instances where NRIs as well as Residents have invested in shares of Indian private sector companies, especially in those carrying on business of mobile applications, software developments, hospitality etc. and gone abroad later. The value of the shares of some of these companies has gone up exponentially  in recent years on account […]

Key Highlights of Finance Bill 2021

Meaning The Finance Bill is a part of the Union Budget, stipulating all the legal amendments required for the changes in taxation proposed by the Finance Minister. This Bill encompasses all amendments required in various laws pertaining to tax, in accordance with the tax proposals made in the Union Budget. The Finance Bill, as a […]

March 2021 – Compliance calendar

March Sl. No Particulars Due Date Direct Tax 1 Deposit of TDS & TCS for February 2021 07 March 2021 2 Due date for issue of TDS Certificate for tax deducted under Section 194-IA & 194-IB in the month of January, 2021 14 March 2021 3 Last instalment of advance tax for the AY 2021-22 […]

February 2021 – Compliance calendar

February Sl. No Particulars Due Date Direct Tax 1 Deposit of TDS & TCS for January 2021 07 February 2021 2 Due date for issue of TDS Certificate for tax deducted under Section 194-IA & 194-IB in the month of December,2020 14 February 2021 3 Extended due date for filing return of income for the […]

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