Business compliance

Difference between LLP and Private Limited Company

Pvt and Limited Liability Partnership

As we all know Private Limited Company and Limited Liability Partnership are two separate business structures governed by two different acts namely Companies Act 2013 and Limited Liability Partnership Act 2008 individually. Both entities i.e. LLP and Private Limited Company grant many similar features needed to run a small to large-sized business, while there are … Read more

Extension of Company Fresh Start Scheme, 2020

In the view of COVID-19 pandemic, the Ministry of corporate affairs has announced the notification for the extension of Company Fresh Start Scheme 2020. Let’s summaries the Notifications issued:- Company Fresh Start Scheme Companies Fresh Start Scheme, 2020, is validated from 1 April 2020 to 30 September 2020. And offers companies the opening of a one-time … Read more

MCA extends LLP Compliances Due Dates again 

LLP Settlement Scheme 2020

 In the COVID pandemic, ministry of company affairs extended AGM due date till 31st December 2020 from 30th September 2020 however there was no announcement towards the extension of LLP ROC compliances due date. Now the most awaited extension of LLP compliances due dates announced by extending LLP Settlement Scheme to enable LLPs to make … Read more

The Lok Sabha has passed the new Reforms for Companies (Amendment) Bill 2020  

companies amendment bill

The Lok Sabha has passed the Companies (Amendment) Bill that seeks to decriminalise specific offences under the Companies Act, 2013, in case of defaults but not involving frauds. Let’s Understand in Detail –  The Companies (Amendment) Bill, 2020 The Companies (Amendment) Bill, 2020, was passed by Lok Sabha where Around 48 sections of the Companies … Read more

Extension of AGM Date without Filing of Form GNL-1

Extension of AGM date

A big relief is given by the Ministry of Corporate Affairs (MCA) to the companies today by extension of AGM date for holding Annual General Meeting till December 31st from September 30th. Let’s understand in detail –  Extension of AGM Date  Due to the Covid-19 pandemic, the ministry of corporate affairs has diminished the compliance … Read more

Extension of AGM date due to Covid-19 Pandemic

extension of agm date

Due to the Covid-19 pandemic, the ministry of corporate affairs has reduced the compliance burden on the corporate sector which partially opened up the industry. MCA has received several representations to allow companies to provide an extension of AGM (Annual General Meeting) date for the financial year which is about to due on 30.09.2020. Recently, CBDT … Read more

Ban on Deemed Approval of GST Registration Lifted

Deemed Approval of GST Registration

The GST department has recently announced that the ban on deemed approval of GST Registration shall now be lifted soon. As we know that the country was under complete lockdown since 25th March 2020, on account of COVID-19 pandemic. There were many people who had filed applications for GST Registration, which were being deemed approved … Read more

5 Key Tax reliefs while COVID-19 Lockdown

5 tax reliefs

The government has given certain tax reliefs to the taxpayers during COVID-19 Lockdown. The COVID-19 pandemic has an adverse impact all over the globe and sent economies spinning. Indian government is doing its best to revive the economies and has provided some relaxations as regards ITR filing and GST return filing. Here are those key … Read more

New GST Registration Process slows down due to Lockdown

GST registration delay

With the spread of the coronavirus, GST registration is facing huge delays. Obtaining a new GSTIN has become a bit difficult due to the COVID-19 lockdown.   Delay in New GST Registration Process due to the lockdown New GST registration has been getting delayed to an extent of 60 days and if the situation gets … Read more

Interest on PPF, Savings Bank Deposit crucial for GST registration

Interest on PPF and gst

The most recent GST update is that as per the new criteria, Interest on PPF and Savings Bank Deposit shall be accounted for deciding threshold for GST registration. Let us understand this update in detail.   Role of Interest on PPF, Savings Bank Deposit in GST registration The value of some of the non-taxable incomes … Read more