CBDT notifies transactions not regarded as transfer under section 47 of IT Act.
Many transactions are not considered to be transferred for purposes of capital gains. Some of the relevant transactions which are not regarded as transfer are listed in the notification.
MCA Extends the last date for filing of Form NFRA-2.
The Ministry of Corporate Affair on 5th March 2020 has decided to extend the time limit for filing of Form NFRA-2, for Financial Year 2018-19′ to 150 days from the date of deployment of this form on the website of National Financial Reporting Authority (NFRA).
MCA issues clarification regarding the filing of Forms in registry MCA-21 by IRP or RP or Liquidator
The Ministry of Corporate Affairs vide its notification dated 6th March 2020 has issued clarification on statutory compliances in respect of companies under Corporate Insolvency Resolution Process (CIRP). This circular has been issued in supersession to its earlier Circular dated, 17.02.2020.
MCA extends the last date for submitting comments on Draft Competition (Amendment) Bill, 2020
The Ministry of Corporate Affairs vide its notification dated 6th March 2020, has extended the last date of submitting the comments on Draft Competition (Amendment) Bill, 2020 to 13th March 2020.
FBOs can now directly make online applications for FSSAI registration by visiting Food licensing and registration system (FLRS)
The Food Safety and Standards Authority of India in its public notice dated 4th March 2020, has intimated that FSSAI has stopped the facility of filing new application for registration certificates through Common service center with effect from 31st March 2020. Therefore in order to enable FBOs to make online payment of license/registration fee, a […]
The last date for physical submission of supporting documents for MVAT Audit report shall be 9th March 2020
Commissioner of State Tax-Maharashtra has issued a Trade Circular on 24th February 2020 that notified the last date for physical submission of Audit Report in Form 704 for the financial year 2018-19 as 28th February 2020. The dealers shall submit the following documents to the concerned Nodal Officers after uploading their audit report. 1.The Statement […]
CBDT Issues Clarification on Direct Tax Vivad se Vishwas Bill, 2020
The Central Board of Direct Taxes has issued Clarifications on provisions of the Direct Tax Vivad se Vishwas Bill, 2020. The objective of Vivad se Vishwas is to inter alia reduce income tax litigation and thereby generate timely revenue for the Government and benefit taxpayers by providing them savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process.
FSSAI re-operationalize the FSS (Licensing and Registration of Food Business) Regulations, 2018 for e-commerce FBOs
The Food Safety and Standards Authority of India vide notification dated 2nd March 2020 has issued directions to re-operationalize the Food Safety and Standards (Licensing and Registration of Food Business) Amendment Regulations, 2018. The amendment shall be in force from 16th February 2020.
MCA Launches LLP Settlement Scheme
MCA has decided to introduce a scheme namely “LLP Settlement Scheme, 2020”, by allowing a One-time condonation of delay in filing statutorily required documents with the Registrar. The Scheme shall be in force from 16th March to 13th June 2020.
Union Cabinet approves Companies (Second Amendment) Bill, 2019 to decriminalize defaults under the Act.
The Union Cabinet, on 04 March 2020 has approved the Companies (Second Amendment) Bill, 2019. The Bill would remove criminality under the Act in case of defaults which does not amount to fraud lack or is not detrimental to larger public interest.
