Appointment of IT Application Development Agency for Startup India Standup India-DIPP
Government of India intends to launch ‗Start-up India, Stand-up India‘ initiative to create a strong eco-system for fostering innovation and start-ups in the country. This will require an environment which will enable individuals and smaller companies, including start-ups and SMEs to grow through innovation and design. Department of Industrial Policy and Promotion, Ministry of Commerce […]
Income-tax (22nd Amendment) Rules, 2015
Ministry of Finance, Central Board of Direct Taxes has amended, the Income-tax Rules, 1962 by substituting the rules 114B, 114C, 114D and 114E. Rules 114B, 114C and 114D shall come into force from the 1st January, 2016 Rule 114E shall come into force from the 1st April, 2016. The detailed notification is appended at the below mentioned […]
NSE Circular for filing documents online
The National Stock Exchange of India (NSE) on Monday 28th December, 2015; in continuation of its tradition of filling information online on its Platform “NEAPS (NSE Electronic Application Processing System)”, added the following for the purpose of Regulation 10 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015: Announcements Board Meetings Corporate Actions Insider Trading […]
SEBI’s Amendment to the Listing Regulations, 2015
SEBI on Tuesday the 22nd of December, 2015 amended the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 Vide the said amended SEBI changed the applicability of Business Responsibility Report, which was earlier applicable to top 100 Companies shall now by be applicable to top 500 Companies by market capitalization. The said amendment is to be […]
Companies (Audit and Auditors) Amendment Rules, 2015
MCA vide Notification No. GSR 972(E) dated 14/12/2015 amended the Companies (Audit and Auditors) Rules, 2015 by substituting Rule 13 with the following new Rule: “(13) Reporting of frauds by auditor and other matters: (1) If an auditor of a company, in the course of the performance of his duties as statutory auditor, has reason to believe […]
Rules regarding quoting of PAN for specified transactions amended
Extract from the website of Press Information Bureau (PIB) The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a […]
New Versions of e-Forms 4 & 27
Version of the following e-Form relating to Limited Liability Partnership are going to be modified w.e.f Dec 18th 2015. MCA has requested its stakeholders to plan the filling accordingly. Form 4: Notice of appointment, cessation, change in name/ address/designation of a designated partner or partner. and consent to become a partner/designated partner. Form 27: Form for […]
Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015
MCA vide Notification No. GSR 971(E) on Monday, 14th December, 2015 amended the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015 I. Inserted Rule 6A after Rule 6: “6A. Omnibus approval for related party transactions on annual basis.- All related party transactions shall require approval of the Audit Committee and the Audit Committee may […]
MCA appoints 14th December, 2015 as the effective date for Section 13 & 14 of the Companies (Amendment) Act, 2015
MCA today vide order no. S.O. 3388(E) dated 14.12.2015 appointed 14th December, 2015 as the effective date for Section 13 & 14 of the Companies (Amendment) Act, 2015. The said Sections are as under: Section 143:Powers and Duties of Auditors and Auditing Standards: Auditor to report any Fraud involving such amount as prescribed; found by […]
Change in Version of certain E-forms
Versions of the following e-forms are modified w.e.f 09 Dec 2015: Forms GNL-4: Form for filing addendum for rectification of defects or incompleteness. Form INC-28: Notice of Order of the Court or any other competent authority Form CRA-2: Form of intimation of appointment of cost auditor by the company to Central Government. Form INC-2: One Person Company- Application for […]