M G G S & Associates

M G G S & Associates Practicing Chartered Accountant Chartered Accountants

20/03/2014

MCA

The Ministry of Corporate Affairs has issued a public notice in the interest of the stakeholders stating that the MCA is going to introduce the new forms pertaining to the New Act probably from 01.04.2014. The Ministry shall close down the Front Office portal after 25.03.2014. The Ministry has directed that all the work items should be cleared on or before 25.03.2014 because these work items will not be processed in the new system. All stakeholders are accordingly advised to clear all pending forms on urgent basis.

14/03/2014

Company Law

Setting an example of company being a separate legal entity different from the Directors of the company, one of the Income Tax Authority in Allahabad held that where a private company which had unpaid outstanding tax dues for the previous years, such dues could not be recovered from director of said company if he/she proves that non recovery of tax due against company could not be attributed to any gross negligence, misfeasance or breach of duty on her part in relation to affairs of company

14/03/2014

Income Tax

Same mobile number in maximum 4 assessee as primary contact number will be allowed in assessee login on IT e-filing site. However, Option has been given to provide mobile number of secondary contact like CA etc. with some additional details.

08/03/2014

FINANCE ACT 2014

The Finance Act, 2014 has received the assecnt of the President on 4th March, 2014 and the same has also been notified & published in the Official Gazette of India on 5th March, 2014. The Finance Act, 2014 shall come into force w.e.f 01-04-2014.

07/03/2014

CBDT

CBDT has extended the Due date for Government Deductor for filing TDS returns for F.Y.2012-13 (for 2nd to 4th quarter) and F.Y.2013-14 (for 1st to 3rd quarter) by issuing circular No. 07/2014 F. No. 275/27/2013-IT(B). This is welcome steps of CBDT and big relief for government deductor who are facing the bunch of notices from Income tax department for pay late filing fees of T.D.S/TCS Returns. However, any fee under section 234E of the Act already paid by a Government deductor shall not be refunded.

06/03/2014

MCA UPDATE

The Ministry of Corporate Affairs has invited Applications to fill up, on deputation basis, for filling up of 1 (one) post each in the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) to be constituted under Section 408 and 410 respectively of the Companies Act, 2013. The selected candidates will be required to serve in the NCLT/NCLAT Bench to be established at Delhi. To view & download the Office Memorandum, please Click Here

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Bhubaneswar
751007

Telephone

9437482885

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