Avenue Advisors - Company Secretaries

21/08/2019

A profound analysis of the amendments introduced through the Companies (Amendment) Act, 2019, including their implications on the existing provisions of the Companies Act, 2013.

https://taxguru.in/company-law/implications-companies-amendment-act-2019.html

HAPPY READING! ☺️

PS: The interpretation is completely based upon the Author's understanding. Any different views or opinions are welcome.

Amendments introduced in Companies Act, 2013 throu.... Click here to view the full Article

12/07/2018

DIR-3 KYC will be available on MCA21 Company Forms Download page
w.e.f 14th July 2018 for filing purposes. Stakeholders are advised to plan accordingly.

03/07/2018

:
RBI has introduced a Single Master Form subsuming all the existing FDI reporting forms. In order to implement this announcement, the Reserve Bank has introduced an online application, *FIRMS (Foreign Investment Reporting and Management System),* which provides for filing of the SMF. SMF containing 9 reports would be made available with effect from *August 01, 2018.* With the implementation of SMF, the reporting of FDI, which is presently a two-step procedure viz., ARF and FC-GPR would be merged into a single revised FC-GPR. The SMF also introduces reporting of indirect foreign investment through form DI and reporting of inflows in investment vehicles through Form InVi. Further, the reporting in FC-TRS, LLP-I, LLP-II, ESOP, DRR and CN would also be made in SMF only.

Regards

29/06/2018

Following changes will be applicable for new DSC obtained from 01/07/2018.old DSC & tokens will work as it is.

1. Video verification will be mandatory in class 2 DSC,(class 2 individual DSC mainly used for income Tax, PF, TDS,MCA, GST, etc)( Similar process currently applicable for Class 3 DSC, same process now will be applicable for Class 2 as well.)
2 . Aadhar Biomentric DSC will not require to do video Verification as person is physically verified with aadhar biometric authentication.

3. USB Token'S CSP is getting upgraded and will be application from 01.07.2018, hence old tokens will not work for renewals.

28/06/2018

MCA to update KYC of Directors | New E-form DIR-3 KYC to be released..
https://studycafe.in/2018/06/mca-to-update-kyc-of-directors-new-e-form-dir-3-kyc-to-be-released.html

28/06/2018

News & Important Updates:
Dated 28/06/2018

As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC
to be notified and deployed shortly. Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC
on or before 31st August,2018. While filing the form,the Unique Personal Mobile Number and Personal Email ID would have to be mandatorily indicated and would be duly verified by One Time Password(OTP). The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional (CA/CS/CMA). Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.
After expiry of the due date by which the KYC form is to be filed,the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’. After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee only, without prejudice to any other action that may be taken

Regards

05/01/2018

A *new name reservation service is being developed* and is likely to be *deployed* on 26th January, 2018. Therefore w.e.f. 00:00 hours on 06-01-2018, *INC-1 will not be available* on the MCA Portal. Stakeholders are *advised to submit* INC-1 applications till 23:59 hours on 05-01-2018.

However *resubmission of INC-1* is *allowed* till 23:59 Hours of 11-01-2018. Stakeholders may *use SPICe for incorporation* Stakeholders may plan accordingly.

04/01/2018

Highlights of new ammendment bill 2017 1. Name will be reserve only for 20 days instead of 60 days (section 4(5) clause i) 2. A new definition 3A inserted for members severally liable for debts if company works more than 6 months with reduced members 3. A word body corp. Inserted in holding co. Definition section 2 (46) 4. In section 135 (1) word any financial year substituted with immediately preceding FY 5. Section 194 and 195 shall be ommited

04/01/2018

The Companies (Amendment) Act, 2017 has received assent of the President and the same has been published in the Official Gazette on 3rd January, 2018. The amendments shall come into force from the date notified by the MCA. Different dates may be prescribed by the MCA for different provisions.

20/12/2017

Subject: Condonation of Delay Scheme, 2018
the Central Government has decided to introduce a Scheme namely “Condonation of Delay Scheme 2018” [CODS-2018] as follows.
1. The scheme shall come into force with effect from 01.01.2018 and shall remain in force up to 31.03.2018

2. Applicability: - This scheme is applicable to all defaulting companies (other than the companies which have been stuck off/whose names have been removed from the register of companies under section 248(5) of the Act). A defaulting company is permitted to file its overdue documents which were due for filing till 30.06.2017 in accordance with the provisions of this Scheme.
3. Procedure to be followed for the purposes of the scheme:- (1) In the case of defaulting companies whose names have not been removed from register of companies,-
i) The DINs of the disqualified directors de-activated at present shall be temporarily activated during the validity of the scheme to enable them to file the overdue documents.
ii) The defaulting company shall file the overdue documents in the respective prescribed eForms paying the statutory filing fee and additional fee payable as per section 403 of the Act read with Companies (Registration Offices and fee) Rules, 2014 for filing these overdue documents.
iii) The defaulting company after filing documents under this scheme, shall seek condonation of delay by filing form e-CODS 2018 attached to this scheme along with a fee of Rs. 30,000/- (Rs. Thirty Thousand only) as prescribed under the Companies (Registration Offices and Fee) Rules, 2014 well before the last date of the scheme.
iv) The DINs of the Directors associated with the defaulting companies that have not filed their overdue documents and the eform CODS, and these are not taken on record in the MCA21 registry and are still found to be disqualified on the conclusion of the scheme in terms of section 164(2)(a) r/w 167(1)(a) of the Act shall be liable to be deactivated on expiry of the scheme period.
(2) In the event of defaulting companies whose names have been removed from the register of companies under section 248 of the Act and which have filed applications for revival under section 252 of the Act up to the date of this scheme, the Director’s DIN shall be re-activated only NCLT order of revival subject to the company having filing of all overdue documents.

10/12/2017

🍀 *Important Tax Compliance Due Dates for December* 🌹

15-12-2017 - Third instalment of advance tax for the assessment year 2018-19

20-12-2017- GSTR-3B for the month of November.

24-12-2017 – Due date of GSTR-4 for Composition Dealers under GST for the quarter July-September, 2017 is extended to 24th Dec 2017

27-12-2017- Due date for submission of original GST TRAN-1 & Revision of already submitted GST TRAN-1, both, is 27th Dec, 2017. (Revision can be done only once)

31-12-2017 - Due date for filing GSTR -1 for the Quarter ending Sep 2017 i.e. July to Sep - as Applicable for taxpayers with Annual Aggregate turnover up to 1.50 Crores

31-12-2017 - Due date for filing GSTR -1 from the month of July to Oct 2017 - as Applicable for taxpayers with Annual Aggregate turnover more than 1.50 Crore