K. Awasthi &CO.

22/07/2019

22/02/2019

MCA update:
21 Feb, 2019

NEWS & IMPORTANT UPDATES

Companies (Incorporation) Amendment Rules, 2019.
http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationAmendmentRules_21022019.pdf

Companies (Regn offices and Fees) Amendment Rules, 2019.
http://www.mca.gov.in/Ministry/pdf/CompaniesRegnOfficesFeesRules21022019.pdf

www.mca.gov.in

_Regards_
Team Rbs & Co.

Home Page of MCA V2

01/02/2019

HIGHLIGHTS OF BUDGET 2019

*Tax*
1. Within 2 years, Tax assessment will be done electronically
2. IT returns processing in just 24 hours
3. Minimum 14% revenue of GST to states by Central Govt.
4. Custom duty has abolished from 36 Capital Goods
5. Recommendations to GST council for reducing GST rates for home buyers
6. *Full Tax rebate upto 5 lakh annual income after all deductions.*
7. Standard deduction has increase from 40000 to 50000
8. Exempt on tax on second self-occupied house
9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000
10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000
11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.
12. Benefit u/s 80IB has increased to one more year i.e. 2020
13. Benefit has given to unsold inventory has increased to one year to two years.
*Other Areas*
14. State share has increased to 42%
15. PCA restriction has abolished from 3 major banks
16. 2 lakhs seats will increase for the reservation of 10%
17. 60000 crores for manrega
18. 1.7 Lakh crore to ensure food for all
19. 22nd AIIMS has to be opened in Haryana
20. Approval has to be given to PM Kisan Yojana
21. Rs. 6000 per annum has to be given to every farmer having upto 2 hectare land. Applicable from Sept 2018. Amount will be transferred in 3 installments
22. National kamdhenu ayog for cows. Rs. 750 crores for National Gokul Mission
23. 2% interest subvention for farmers pursuing animal husbandry and also create separate department for fisheries.
24. 2% interest subvention for farmers affected by natural calamities and additional 3% interest subvention for timely payment.
25. Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs
26. Bonus will be applicable for workers earning 21000 monthly
27. The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs. 3,000 with contribution of Rs. 100 per month for workers in unorganized sector after 60 years of age.
28. Our government delivered 6 crores free LPG connections under Ujjawala scheme
29. 2% interest relief for MSME GST registered person
30. 26 weeks of Maternity Leaves to empower the women
31. More than 3 Lakhs crores for defence
32. One lakh digital villages in next 5 years
33. Single window for approval of India film makers

11/05/2018

Amendment in SEBI LODR Regulations dated May 9, 2018 (Update-1):

1) The definition of “senior management” will specifically cover Company Secretaries of the listed Companies.

2) Listed companies shall not appoint or continue the directorship of Non-Executive Directors who have attended the age of seventy five years without passing Special resolution along with justification of such appointment to be mentioned in the explanatory statement.

3) Frequency of the meeting of the Nomination and Remuneration Committee, Stakeholders Relationship Committee and Risk Management Committee have been determined. This committee have to meet at least once in a year.

4) Disclosure on utilization of the funds raised through preferential allotment or Qualified Institutions Placement shall be disclosed in the Annual Reports until such funds are fully utilized.

5) PCS certificate for disclosing the fact that none of the Directors are disqualified by MCA or any other authority in CG report.

10/05/2018

08/05/2018

MCA Alter:

Additional Fees on Annual Filing of documents at MCA @100 per day applicable w.e.f. 1st July 2018.

The Companies (Registration Offices and Fees) Second Amendment Rules 2018 has been notified on 7th May 2018. Accordingly, in case the due
date of filings of Annual Return or Annual Financial Statement of the Companies Act, 2013 expires after 30/06/2018, the additional fee .100 per day shall become payable in respect of MGT-7, AoC-4, AoC-4 XBRL and AoC-4 CFS.

In all other cases where the belated annual returns or balance sheet/financial statement which were due to be filed whether under the Companies Act,1956 (23AC,23ACA,23AC XBRL,23ACA XBRL,20B,21A) or the Companies Act, 2013 (MGT-7, AoC-4, AoC-4 XBRL and AoC-4 CFS) additional fee as per the applicable slab for the period of delay up to 30th June 2018 plus .100 per day w.e.f 1st July 2018 shall become payable.

Request you to file all the pending documents of your companies, if any.

28/03/2018

Kotak Committee on 5th Oct., 2017 has submitted to SEBI that “Secretarial Audit” to be mandatory for listed entities and their material unlisted subsidiaries under SEBI LODR Regulation.

Happy to share that today SEBI has accepted the same.

Special thanks to the efforts of CS Shyam Agrawal, Immediate Past President and Team ICSI.

Congratulations to ICSI Team.