PM says FDI decision shows 'unwavering' commitment to reforms.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
Haryana's Additional Advocate General Jagbir Singh Malik said the State will be filing a Special Leave Petition (SLP) against the order before the Supreme Court. The interim order has come as a relief for companies in the state which feel that the Haryana State Employment of Local Candidates Act, 2020 would have a bearing on their future business operations and investment.
The much-anticipated cryptocurrency bill, however, is missing from the list, reports Shrimi Choudhary.
Deposit amount can equal investor's stake, won't impact his holding as it is a loan
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
Companies will have to follow all requirements laid out under rules for holding board meetings via video conferencing such as recording of these proceedings, ensuring availability of proper equipment among others.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. "Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change has been made to the ITR Forms in comparison to the last year's ITR Forms. "Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made," the Central Board of Direct Taxes (CBDT) said in a statement. The Income Tax returns (ITR) forms ask taxpayers if they are opting for a new tax regime.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. The notification of the returns followed Budget announcements making income-tax return filing mandatory for certain persons even if their income was below the taxable limit.
Thousands of unlisted companies registered with RoCs will soon go under watch on lines similar to the oversight by the Securities and Exchange Board of India of listed companies.
After taking action against 226,000 shell companies last year, the ministry of corporate affairs has now zeroed in on a fresh batch of suspected shell companies.
The Centre on Monday proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 and sought public comments on banning mis-selling and fraudulent flash sale of goods and services on e-commerce platforms, and also on making registration of these entities mandatory with DPIIT. Ban on misleading users by manipulating search results, appointment of chief compliance officer and resident grievance officer are some of the other amendments being proposed. The Consumer Protection (E-Commerce) Rules, 2020 were first notified in July last year.
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
The Corporate Affairs Ministry's latest move comes in the backdrop of instances of private entities using the word 'National' in their names, including the case of National Spot Exchange Ltd, which is embroiled in a major payment crisis.
Last year, the e-filing commenced on July 1 as there was delay in finalisation of the ITR forms
India needs to build an economic system that will provide adequate capital to budding entrepreneurs, says Ajit Balakrishnan.
Nultiple regulators are probing the nexus of scamsters with diamonds after a state-run bank got defrauded of $1.8 billion by designer jeweller Nirav Modi.
The Supreme Court on Thursday set aside a Punjab and Haryana high court order granting an interim stay on a Haryana law providing 75 per cent quota in private sector jobs for residents of the state.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
With Sebi clearing the final guidelines for creation of Real Estate Investment Trusts (REITs), assets worth around $12 billion are likely to be listed in the next 2-3 years.
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
Infosys, which is managing MCA21, has been facing flak from different quarters on the woes pertaining to the portal.
It will be safe to incur these costs initially to prevent any problems in the future, which would be far more expensive, in terms of money, time and effort.
The Stayzilla episode raises questions over the regulations around the closure of a business, says Sudipto Dey.
The fair market value of an immovable property will be higher from the acquisition cost.
With a new higher tax regime coming into effect from the new financial year, top corporates and wealthy investors are in a rush to restructure their shareholding.
Additional levy to eat into Rs 6,000-crore income of top promoters
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
The Bill suggests an insolvency regulator.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
The Securities and Exchange Board of India's (Sebi's) planned research analyst regulations will also apply to proxy advisory services which provide advice on corporate governance and issue voting recommendations to institutional shareholders regarding company resolutions.
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
Startups in India need low-cost debt for working capital, which is impossible to get.
Should we really pay attention to them, asks Ajit Balakrishnan.
