The startup ecosystem in India is growing like never before. New Unicorns (startups valued at $1 billion or more) are being added in the list every year and by 2025 it is expected to have them all crossed the 100th mark. All this could have been possible with the changing governance system of Indian Law which has improved Ease of Doing Business than ever before. The Government is now eyeing to mak......

Dear Professional Colleagues, Hope you are enjoying the April Month Compliance of MCA  We have been given various new accountabilities which have been newly introduced be it DPT-3, ACTIVE, MSME-1, BEN-1, DIR-3 KYC, NFRA-1 and maintaining MBP-1. And who knows MCA may be preparing for another set of new compliances. Now let us come to the million dollar question that every Professional a......

Dear Professional Colleagues, Since Companies Act, 2013 came in force, MCA has been very strict in terms of compliance parameters and those companies which are not following the Act or Rules have been fined/penalized for their non-compliance including directors.As of new compliance under ACTIVE, the Ministry of Corporate Affairs through a notification dated February 21, 2019, has introduced the C......

Dear Friends,This is the first time that a Chartered Accountant who is the Finance Minister of the country Shri Piyush Goyal has presented the Budget. Let us quickly go through the proposed budget:One relief that has been provided is that Income upto Rs 5 lakh will not have to pay any income tax for FY2019-20. Also, If we see that budget of the last year 2018, Government had provide......

Dear Readers, Hope you have been through my previous Article on the topic: What is the Stamp Duty on LLP Agreement for all States in India By CS Gaurav KumarAfter writing this Article, I received a query for the state of Telangana as to what will be the Stamp Duty on LLP for Telangana State. I did some homework, talked to the Telangana Official and got to know the Below Findings:S......

Dear Professional Colleagues,In this write-up, I have tried to cover the pain areas of every single professional who have to work really hard to find out as to what amount of stamp paper has to be bought for LLP Agreement for different states. We know that Stamp Duty is subject to state and thus it varies from state to state.When we incorporate any LLP in India, the amount which is kept as minimum......

    Article Updated on April 23, 2019Dear Professional Colleagues, Appointment of a Company Secretary has been one of the most talked topics in the recent times as Companies not just appoint them because there is a statutory requirement for a few class of the company including listed companies or company having paid-up capital more than the prescribed limit......

Dear Professional Colleagues,IEC Code is unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies. One important thing to keep in mind is that IEC Code becomes only applicable when goods are imported or exported for business purposes and not when goods are imported for personal/ self-uses. Full Form of IEC Co......

Dear Professional Colleagues,In a major relief for disqualified directors of companies, the government has provided a three-month window to them to file their returns and normalize operations by launching Condonation of Delay Scheme, 2018. The scheme, however, does not provide amnesty to the directors on the boards of companies that have been deregistered.Directors who did not file ......

Dear Professional Colleagues, Recently, MCA has updated the settings for Registering/Updating DSC on the portal. In this Article, I will try to resolve as many problems as possible (Troublehsooting Errors). Kindly be apprised that earlier, it was done through Java Settings and we always wondered as in which version of Java will support. But now, like other Govt. Portals including GST Website, ......

  Dear Professional Colleagues,Since there came the Disqualification, it has been concern for corporate fraternity to come out of it.In a major relief for disqualified directors of companies, the government has provided a three-month window to them to file their returns and normalise operations by launching Condonation of Delay Scheme, 2018. The scheme, however, does not provide amnes......

We all know that the withdrawal process becomes simpler and easier and less time-consuming if you have the Aadhaar card number with you. Having no Aadhar card these days are like you are on the verge of loosing your identity. Govt. has been taking giant steps to link almost everything to Aadhar and PF is not untouched. Dear Professional Colleagues, In this write-up, I have tried to simplify......

Dear Friends,It is like dream come true for CS Professional Aspirants to clear their Exams of ICSI in their very first attempt. This write-up has been written by CS Gaurav Kumar who cleared his CS exams in one go (Co-Founder: Compliance Calendar LLP).To be frank enough, everybody think that it is good luck which helps someone clear the exams in one shot. To clarify which is but; of cours......

Professional Colleagues, Everyday we receive communication from Telecom, Banks, Gas, Income Tax Deptt., EPFO, Passport, Scholarships, Concession in railway tickets, Mid-day meals, Public Distribution Benefits to receive from to update Aadhar? Not long ago, many believed Aadhaar will end up as an optional scheme, meant mainly for the poor who would need it for subsidies. Very quickly Aadhaar has......

The GST council met for the 22nd time on 06-10-2017 and announced major changes which included cutting in taxes of various items and announced various measures to support exporters and small businesses, three months after the new GST taxation system was launched. "It's almost three months since GST roll out, returns have been filed for first two months as well. So it was a time to delib......

Dear Professional Colleagues, Very recently, we saw that ROC of various states have taken serious  action against those companies who had pending ROC Filings for continuous three or more years and disqualified such directors u/s 164(2) for five years.Apart from the list of struck off companies and disqualified directors, the MCA is going to start the procedure to issue show cau......

Dear Professional Colleagues,This write-up is an attempt to clear confusion over various issues on Aadhar(UID).Is it necessary to link bank account with Aadhaar? As per gazette notification of Ministry of Finance, dated 1st June 2017, Individuals are required to provide Aadhaar number for linking all their bank accounts before 31st Dec 2017. For residents not having Aadhaar it is sugges......

Dear Professional Colleagues,MCA has issued Circular to clarify the provision w.r.t Exemption to certain unlisted public companies under the Companies (Appointment and Qualification of Directors) Rules, 2014 from the appointment of Independent Directors. The exemptions have been provided to an Unlisted Public Company which is a joint venture, a wholly owned subsidiary or a dormant Company will not......

Dear Professional Colleagues,There can be a good news for the next time if you come to use room in a hospital because any rent paid by patients for hospital rooms will be exempted from the Goods and Services Tax (GST). Issuing clarifications on levy of GST on the tariff for various accommodation services, the Central Board of Excise and Customs (CBEC) said the tax on rooms......

Dear Professional Colleagues, We know that most of the provisions of the Companies Act, 2013 came into force on April 1, 2014. Well; the sub-sections (8), (9) and sub-section (10) of Section 212 of the Companies Act, 2013 along with Companies (Arrests in connection with Investigation by Serious Fraud Investigation Office) Rules, 2017 came into force on Aug 24, 2017. This Article is an a......