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MCA Notification on “Companies (Acceptance of Deposits) Amendment Rules, 2016″
The MCA vide Notification dt 29th June 2016 has notified “Companies (Acceptance of Deposits) Amendment Rules, 2016” to amend the “Companies (Acceptance of Deposits) Rules, 2014”, as under: MCA Notification dt 29 June 2016 In exercise of the powers conferred by sections 73 and 76 read with sub section (1) of section 469 of the…
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Income-tax (18th Amendment) Rules, 2016
S.O.2213(E).- In exercise of the powers conferred by clause(ha) of sub-section (2) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (18th Amendment) Rules, 2016.…
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Clarifications on the Income Declaration Scheme, 2016
The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) incorporated as Chapter IX of the Finance Act, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare the undisclosed income and pay tax, surcharge and penalty totaling in all 45% of such undisclosed…
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TDS applicable if amount paid exceeds Rs 75,000
(UNI) If the aggregate amount paid/credited or likely to be paid or credited to a contractor or sub-contractor exceeds Rs 75,000 during a financial year, tax should be deducted at source under section 194c of Income tax Act, a top Income Tax official said. Addressing a seminar on Revised provisions on TDS here K Satyanarayana,…
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Annual Corporate Filing Requirements for a Pvt. Limited Company in India
As a part of Annual Filing, companies incorporated in India – including subsidiaries of foreign companies, joint venture companies and others, under the Companies Act, 1956 are required to file the following documents along with the e-Forms with the Registrar of Companies (RoC) with proper jurisdiction over the company: Balance-Sheet: Form 23AC to be filed…
