Rishi Sohar & Associates

18/04/2019

Stakeholders are requested to please note that Filing of affidavits (from each of the subscribers to the memorandum and from persons named as the first directors, if any, in the articles that he is not convicted of any offence in connection with the promotion, formation or management of any company, or that he has not been found guilty of any fraud or misfeasance or of any breach of duty to any company under this Act or any previous company law during the preceding five years and that all the documents filed with the Registrar for registration of the company contain information that is correct and complete and true to the best of his knowledge and belief) as per Section 7(1)(c ) of the Companies Act, 2013 read with rule 15 of the Companies (Incorporation) Third Amendment Rules has been dispensed with vide the Companies (Amendment) Act,2017- from 27th July 2018. Only declaration by first subscriber(s) and director(s) in INC-9 is mandatory and affidavit is NOT required to be filed. Stakeholders may kindly note the above provisions while filing SPICe forms for incorporation of Companies.

Source: http://www.mca.gov.in/MinistryV2/homepage.html

20/03/2019

27/02/2019

Suggestions for eForm INC-22A: Active Company Tagging

Registered Office Address

Please check the details of registered office address corresponding with the Proof of the same company is having with it.

Since Photo of the Registered Office showing therein at least one Director(s) / KMP who has affixed his/her Digital Signature to this form is mandatory.

It is advised to ask the concerned person of the company to take the photo of Entrance where the Board of the company is affixed as per the provisions Section 12 (3) of the Companies Act 2013. Where special attention should be given that name of the company be painted or affixed in vernacular/ local language.

Photo of inside and out side of the office is necessary.

Ask the Directors to take photos with Geotag. This can be done by going into settings in Camera where location option should be enabled. This will store location where photo is being taken with address, Latitude and Latitude of the location where photo is being taken.

Preferably two Directors be included in the photograph where difficulty of affixing DSC would not be occurred.

Also ask the Concerned person of the company to send the photograph with necessary information through the Email ID which is official email id of the company along with necessary representation as required by the concerned professional.

21/02/2019

Every Company incorporated on or before 31st December 2017 has to file this return called “Active Company Tagging Identities and Verification”.

Due date - On or before 25-04-2019

Late fee - After due date Rs. 10,000/-

Companies (Incorporation) Amendment Rules, 2019.

http://www.mca.gov.in/…/CompaniesIncorporationAmendmentRule…

Companies (Regn offices and Fees) Amendment Rules, 2019.

http://www.mca.gov.in/…/CompaniesRegnOfficesFeesRules210220…

www.mca.gov.in

Thanks &Regards
CS Rishi Sohar
Rishi Sohar & Associates

05/02/2019

Agriculture

1. To provide an assured income support to the small and marginal farmers, our Government is launching a historic programm namely “Pradhan Mantri Kissan Samman Nidhi (PM-KISAN)”. Under this programm, small farmers who have less than two hectares will get a support of INR 6,000. About 12 crore farmer families will benefit from the programm.

2. Benefit of 2% interest subvention to the farmers pursuing the activities of animal husbandry and fisheries. 2% Interest subvention overall on KCC and 3% extra if pay on time.

3. Integration of 63,000 credit societies with the core banking system.

4. Gokul Mission allocation increased to Rs. 750 Crore immediately from current year.

Rural Growth

1. INR 60,000 crores are being allocated for MGNREGA in BE 2019-20.

2. Pradhan Mantri Gram Sadak Yojana (PMGSY) is being allocated INR 19,000 crore in BE 2019-20 as against INR 15,500 crore in RE 2018-19.

3. By March, 2019, all households will be provided with electricity connection.

4. Pradhan Mantri Shram Yogi Maandhan scheme to ensure fixed monthly pension to 10 crore unorganized sector workers. INR 3000 per month after 60 years of age with an affordable contribution of only Rs 100/55 per month.

5. Government to make 1 lakh villages into Digital Villages over next five years.

Education and Skill Development

1. Government while maintaining the existing reservation for SC/ST/Other Backward Classes, have now ensured 10% reservation in educational institutions and Government services for poor's.

2. Quality, science oriented educational system with Institutes of Excellence providing leadership at the top.

3. Allocation for National Education Mission is being increased from INR 32,334 crore in RE 2018-19 to INR 38,572 crore in BE 2019-20.

4. Allocation for Integrated Child Development Scheme (ICDS) is being increased from INR 23,357 crore in RE 2018-19 to INR 27,584 crore in BE 2019-20.

Empowerment of Women & Poor

1. Allocation for mission for Protection and Empowerment for Women has increased by INR 174 Crores to INR 1330 Crore for 2019-2020.

2. More than 70% of the beneficiaries of Pradhan Mantri MUDRA Yojana are women who are getting affordable and collateral-free loans to start their own businesses.

3. Providing financial support to women while empowering them to participate in work, benefits of Maternity leave of 26 weeks and Pradhan Mantri Matru Vandana Yojana for pregnant women are made.

4. Ujjawala Yojana programme is to deliver 8 crore free LPG connections.

5. Announced setting up of new the 22nd AIIMS in Haryana.

6. INR 1.7 Lakh Crore allocated for Food Grains for Poor.

Tax Reforms

1. Individual taxpayers having taxable annual income up to Rs.5 lakhs will not be required to pay any income tax.

2. For salaried persons, Standard Deduction is being raised from the current INR 40,000 to INR 50,000. This will provide additional tax benefit of INR 4,700 crore to more than 3 crore salary earners and pensioners.

3. Exemption on levy of income tax on notional rent on a second self-occupied house is also now proposed. Currently, income tax on notional rent is payable if one has more than one self occupied house.

4. TDS threshold on interest earned on bank/post office deposits is being raised from INR 10,000/- to INR.40,000/-.

5. TDS threshold for deduction of tax on rent is proposed to be increased from INR 1,80,000/- to INR 2,40,000/- for providing relief to small taxpayers.

6. For making more homes available under affordable housing, the benefits under Section 80-IBA of the Income Tax Act is being extended for one more year, i.e. to the housing projects approved till 31st March, 2020.

7. Government proposed to extend the period of exemption from levy of tax on notional rent, on unsold inventories, from one year to two years, from the end of the year in which the project is completed.

31/01/2019

Every company other than Government Company shall file a one time return of outstanding receipt of money or loan by a company but not considered as deposits, in terms of clause (c) of sub-rule 1 of rule 2 from the 01st April, 2014 & onwards.

Notification Link:

29/01/2019

Benefits after getting registration under MSME
MSME stands for micro, small and medium enterprises and to support and to promote MSMEs the Government of India promote them through various subsidies, schemes and incentives as per MSMED Act. To avail the benefits under the MSMED Act from Central or State Government and the Banking Sector MSME registration is required.

After registration, any enterprise becomes qualified to reap the benefits offered under the MSMED Act. Some of the benefits from Central Government include easy sanction of bank loans (Priority sector lending), lower rates of interest. Banks will offer loan at a very minimal rate of interest.

Beside this loan facility, State Government and Union territories also provide tax subsidies and also give various chances in various legal tender as issued by government time to time.

Following are the documents required for MSME Registration

1. Application form.
2. Copy of LLP Agreement;
3. Copy of LLP PAN Card;
4. Current Address proof of the LLP;
5. ID and Address proof of Partners and their passport size photos;
6. Cancel Cheque of the LLLP;
7. List of Machine on the LLP and the amount invested in those Machines;
8. List of Employee of the Company along with its Salary details;
9. Copy of GST certificate( if any);
10.Aadhar card of the Partners and the name of Authorized Partner for MSME Registration.

25/01/2019

NEWS & IMPORTANT UPDATES

eForm INC.20A (Declaration for commencement of business) will be available on MCA21 Company Forms Download page w.e.f 26th January 2019.

www.mca.gov.in

Regards
CS Rishi Sohar

Home Page of MCA V2