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Form DIR-3 KYC is the annual form required to be filled with the ROC by every Director Identification Number (DIN) holde...
14/08/2018

Form DIR-3 KYC is the annual form required to be filled with the ROC by every Director Identification Number (DIN) holders regardless he is appointed as a director or not, whether he is qualified or disqualified. E-Form DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of the Companies (Appointment and Qualification of Directors) Rules, 2014. [ 240 more words ]

Every Director who have been allotted DIN as on or before 31st march of a financial year have to submit e-form DIR-3 KYC with central government.

As per Companies Act, 2013 it is mandatory for companies to inform the MCA about certain activities. Special Resolutions...
24/11/2016

As per Companies Act, 2013 it is mandatory for companies to inform the MCA about certain activities. Special Resolutions passed in the companies shall be filed with MCA in Form MGT-14, in which certified copies of such resolutions are to be attached. Section 117 of the Companies Act, 2013 states that a copy of every resolution or agreement proposed in the meeting needs to be filed with the ROC within 30 days of passing the resolution. [ 515 more words ]

http://onlinelawclub.com/consequences-late-filing-form-mgt-14-condonation-delay/

000As per Companies Act, 2013 it is mandatory for companies to inform the MCA about certain activities. Special Resolutions passed in the companies shall be filed with MCA in Form MGT-14, in which certified copies of such resolutions are to be attached. Section 117 of the Companies Act, 2013 states…

Notwithstanding anything contained in this Act,— (a) where any application required to be made to the Central Government...
19/10/2016

Notwithstanding anything contained in this Act,— (a) where any application required to be made to the Central Government under any provision of this Act in respect of any matter is not made within the time specified therein, that Government may, for reasons to be recorded in writing, condone the delay; and (b) where any document required to be filed with the Registrar under any provision of this Act is not filed within the time specified therein, the Central Government may, for reasons to be recorded in writing, condone the delay.

http://onlinelawclub.com/section-460-condonation-of-delay-in-certain-cases/

000Notwithstanding anything contained in this Act,— (a) where any application required to be made to the Central Government under any provision of this Act in respect of any matter is not made within the time specified therein, that Government may, for reasons to be recorded in writing, condone the…

(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order publis...
18/10/2016

(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act, as appear to it to be necessary or expedient for removing the difficulty: Provided that no such order shall be made after the expiry of a period of five years from the date of commencement of section 1 of this Act. (2) Every order made under this section shall, as soon as may be after it is made, be laid,before each House of Parliament

http://onlinelawclub.com/section-470-of-the-companies-act-2013/

000(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions, not inconsistent with the provisions of this Act, as appear to it to be necessary or expedient for removing the difficulty: Pr...

Overview Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. There’s nor...
16/07/2016

Overview Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. There’s normally no Inheritance Tax to pay if: the value of your estateis below the £325,000 threshold you leave everything to your spouse or civil partner, a charity or a community amateur sports club If you’re married or in a civil partnership and your estate is worth less than £325,000, you can transfer any unused threshold to your partner when you die. [ 1052 more words. ]

http://onlinelawclub.com/inheritance-tax/

000 Overview Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. There’s normally no Inheritance Tax to pay if: the value of your estateis below the £325,000 threshold you leave everything to your spouse or civil partner, a charity or a community amate...

Under how many heads the income of a taxpayer is classified? Section 14 of the Income-tax Act has classified the income ...
15/07/2016

Under how many heads the income of a taxpayer is classified? Section 14 of the Income-tax Act has classified the income of a taxpayer under five different heads of income, viz.: Salaries Income from house property Profits and gains of business or profession Capital gains Income from other sources What is gross total income? Total income of a taxpayer from all the heads of income (as discussed in previous FAQ) is referred to as Gross Total Income. [ 2867 more words. ]

http://onlinelawclub.com/faqs-on-computation-of-tax/

000 Under how many heads the income of a taxpayer is classified?​ ​​​​S​ection 14​ of the Income-tax Act has classified the income of a taxpayer under five different heads of income, viz.: Salaries Income from house property Profits and gains of business or profession Capital gains Income from other...

What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? Senior citizens and...
15/07/2016

What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? Senior citizens and a very senior citizen are granted a higher exemption limit as compared to normal tax payers. Exemption limit is the quantum of income up to which a person is not liable to pay tax. The exemption limit granted to senior citizen and very senior citizen for the financial year 2016-17 is as follows : [ 1136 more words. ]

http://onlinelawclub.com/senior-citizens-under-income-tax/

000​What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? ​​Senior citizens and a very senior citizen are granted a higher exemption limit as compared to normal tax payers. Exemption limit is the quantum of income up to which a person is not liable to p...

What is statement of financial transaction or reportable account (previously called as 'Annual Information Return (AIR)'...
15/07/2016

What is statement of financial transaction or reportable account (previously called as 'Annual Information Return (AIR)'? As per section 285BA of the Income-tax Act, 1961 (as substituted by Finance Act, 2014 w.e.f. 01-04-2015), specified entities (Filers) are required to furnish a statement of financial transaction or reportable account (hereinafter referred to as 'statement') in respect of specified financial transactions or any reportable account registered/recorded/maintained by them during the financial year to the income-tax authority or such other prescribed authority. [ 891 more words. ]

http://onlinelawclub.com/faqs-on-statement-of-financial-transactions-and-reportable-account/

000 What is statement of financial transaction or reportable account (previously called as ‘Annual Information Return (AIR)’? ​​​​As per section 285BA of the Income-tax Act, 1961 (as substituted by Finance Act, 2014 w.e.f. 01-04-2015), specified entities (Filers) are required to furnish a statement…

Where an undisclosed income in the form of investment in asset is declared under the Scheme and tax, surcharge and penal...
15/07/2016

Where an undisclosed income in the form of investment in asset is declared under the Scheme and tax, surcharge and penalty is paid on the fair market value of the asset as on 01.06.2016, then will the declarant be liable for capital gains on sale of such asset in the future? If yes, then how will the capital gains in such case be computed ? [ 1439 more words. ]

http://onlinelawclub.com/faqs-on-the-income-declaration-scheme-2016/

000Where an undisclosed income in the form of investment in asset is declared under the Scheme and tax, surcharge and penalty is paid on the fair market value of the asset as on 01.06.2016, then will the declarant be liable for capital gains on sale of such asset in the future? If yes, then how …

Section 80 Deduction Table Deduction on Section 80 C – Maximum Deduction Rs. 1,50,000 Investment in PPF Employee's shar...
14/07/2016

Section 80 Deduction Table Deduction on Section 80 C – Maximum Deduction Rs. 1,50,000 Investment in PPF Employee's share of PF contribution NSCs Life Insurance Premium payment Children's Tuition Fee Principal Repayment of home loan Investment in Sukanya Samridhi Account ULIPS ELSS Sum paid to purchase deferred annuity Five year deposit scheme Senior Citizens savings scheme Subscription to notified securities/notified deposits scheme… [ 438 more words. ]

http://onlinelawclub.com/section-80-deductions-income-tax-act/

000Section 80 Deduction Table Deduction on Section 80 C – Maximum Deduction  Rs. 1,50,000 Investment in PPF Employee’s share of PF contribution NSCs Life Insurance Premium payment Children’s Tuition Fee Principal Repayment of home loan Investment in Sukanya Samridhi Account ULIPS ELSS Sum paid to pu...

The key features of the draft model GST law are as under: Coverage of the law The law covers entire India, including Ja...
04/07/2016

The key features of the draft model GST law are as under: Coverage of the law The law covers entire India, including Jammu and Kashmir. In the present regime, service tax was not extended to Jammu and Kashmir. Important definitions The definition of capital goods is similar to present definition of capital goods under CENVAT Credit Rules, before amendments made in budget, 2016. [ 1934 more words. ]

http://onlinelawclub.com/gst-key-features-of-draft-bill/

000The key features of the draft model GST law are as under: Coverage of the law  The law covers entire India, including Jammu and Kashmir. In the present regime, service tax was not extended to Jammu and Kashmir.  Important definitions  The definition of capital goods is similar to present definiti...

Some Financial and related full forms. The readers are requested to add the Known full forms related to tax, finance and...
04/07/2016

Some Financial and related full forms. The readers are requested to add the Known full forms related to tax, finance and law as comments to this post. ADB: Asian Development Bank ADR: American Depositary Receipt AIDWA: All India Democratic Woman’s Association AITUC: All India Trade Union Congress Full form of AMFI: Association of Mutual Funds in India APEC: Asia-Pacific Economic Cooperation… [ 1496 more words. ]

http://onlinelawclub.com/full-form-financial-and-related/

000Some Financial and related full forms. The readers are requested to add the Known full forms related to tax, finance and law as comments to this post. ADB: Asian Development Bank ADR: American Depositary Receipt AIDWA: All India Democratic Woman’s Association AITUC: All India Trade Union Congress...

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