In a significant move aimed at promoting ease of doing business and addressing the challenges faced by Limited Liability Partnerships (LLPs), the Ministry of Corporate Affairs (MCA) has introduced the LLP Amnesty Scheme through General Circular No. 08/2023 dated August 23, 2023. This scheme offers a unique opportunity for LLPs to rectify their compliance oversights…
Ministry of Corporate Affairs (MCA) has issued General Circulars on May 03, 2021 to provide relaxation due to resurgence of COVID-19 pandemic, under Companies Act, 2013 and LLP Act, 2008.
MCA has notified the Producer Companies (General Reserve) Rules, 2003. These rules shall apply to a Producer Company as referred in clause (l) of section 378A. These rules shall come into force from February 11, 2020. Highlights: Change of place of registered office from one State to another. – The Rules 27 (Notice and Verification…
While, Union Budget 2021 is mainly focusing on bringing the economy back to shape after the pandemic, it also covers several proposals including exemption to senior citizens from filing income tax returns, new rules for removal of double taxation for NRIs, reduction in the time period for reopening of tax assessments, extension of tax holiday …
The Ministry of Corporate Affairs introduced several schemes namely Companies Fresh Start Scheme, 2020 (CFSS), LLP settlement Scheme 2020, Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 and Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio…
The Lok Sabha on 19th September, 2020 passed a bill to further amend around 48 sections of the Companies Act, 2013 by decriminalizing various non-compoundable offences in case of defaults, but not involving frauds, omitting imprisonment for various offences which were considered procedural and technical in nature. The bill comes at a time when companies are reeling under stress…