Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.
Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of the Companies Act, 2013.
The MSMEs are a crucial part of the economy and plays a vital role in the supply chain. MSME Sector generates employment and foster the entrepreneurship thereby, contributes to the develop of economy.
It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.
There are several criticalities in the Annual Filing for the FY ended 31st March 2021. Discussing the same from the point of view of Financial statements via 20 FAQs.
The legal representative can file the return for one AY only after the death of the person. They can register themselves on the Income Tax Site on behalf of the dead person and file the ITR.
In case a taxpayer does not file their ITR by the due date specified by the department, they will be required to pay interest on the outstanding tax, under sections 234A, 234B and 234C of the Income Tax Act 1961.
In view of the challenges faced by taxpayers due to the outbreak of the Novel Corona Virus (COVID-19), the Government of India has taken several taxation related measures for the industries, including MSMEs.
MCA has introduced the Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 that are applicable to FY 2020-21. CSR Spending has been made mandatory w.e.f FY 2020-21.
In Budget 2021, FM announced an Amendment in the LLP Act. In continuation of the same, MCA has issued a press release on 3rd February 2021. A new concept of Small LLP has been introduced.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
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