KNOWLEDGE BANK

    "  Success usually comes to those who are too busy to be looking for it   "   EXTENSION OF TIME TO HOLD ANNUAL GENERAL MEETING   Ministry of Corporate affairs (MCA) has given relaxation to companies to voluntarily seek extension of time period to hold AGM for F.Y. ending 31.03.2020 by filing Form GNL-1 to concerned ROC on or before 29/09/2020. The official notification regarding the same is here given below: General Circular No. 28/2020 F. No. 2/4/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi Dated: 17th August, 2020 To All Regional Directors, All Registrar of Companies, All Stakeholders. Subject: Clarification on Extension of Annual General Meeting (AGM) for the financial year ended as at 31.03.2020- Companies Act, 2013-reg. Sir/Madam, Several representations have been received in the Ministry for providing relaxations in the provisions of Companies Act, 2013 (the Act) or...

  " Happiness is not something readymade, It comes from your own actions "   FORM DPT - 03   What is form DPT – 03 DPT-3 is a return of Deposits or particulars of transaction not considered as deposit or both which is to be filed by every company, other than: Government Company, Banking Company, non-banking financial A Company registered with the Reserve Bank of India A housing finance company registered with the National Housing Bank established under the National Housing Bank Act, 1987 Periodicity of Return One Time Return: By 29 st June (i.e. within 90days at the End of Financial year) Annual Return: 30 th June (3 Months at the End of Financial Year) Information to be furnished One Time Return: We need to fill the Amount Received after 01/04/2014 and Outstanding on 31/03/2019 Annual Return: We need to fill the Amount Outstanding on 31/03/2019 Received at any time. Some Examples Any Amount Received from Director /His Relative Unsecured ...

  "  The best preparation for tomorrow is doing your best today   "   E-Assessment u/s 143(3) without human interaction Salem Sree Ramavilas Chit Company vs. DCIT (Madras High Court) COURT: Madras High Court CORAM: C Saravanan J SECTION(S): 143(3) GENRE: Domestic Tax CATCH WORDS: Assessment ,  E-Assessment COUNSEL: G. Baskar DATE: February 4, 2020 (Date of pronouncement) DATE: February 19, 2020 (Date of publication) AY: 2017-18 S. 143(3): While E-Assessment without human interaction is laudable, such proceedings can lead to erroneous assessment if officers are not able to understand the transactions and accounts of an assessee without a personal hearing. Assessment proceeding under the changed scenario would require proper de...

  " If people are doubting how far you can go, go so far that you can’t hear them anymore.”   MSME (MICRO, SMALL & MEDIUM ENTERPRISES) The aim of  Udyog Aadhar/UDYAM Registration is to simplify the process for the business owners to register their business under Micro Small Medium Enterprise or MSME.  Udyog Aadhar is a government registration that is provided along with a recognition certificate and a unique number  [Udyog Aadhaar Memorandum No. (UAM)].  In order to certify small/medium businesses or enterprises. The main motive to launch this facility is to offer a way to the government to provide the maximum benefits to medium or small-scale businesses or industries in India, who are registered via  MSME . Now, it has become one of the main requirements to resume your business in the phase of COVID-19 during the lockdown. Recently, Ministery of Micro, Small & Medium Enterprises, Govt. of India, launched a web portal for MSME Ba...