S. Jaykishan

Chartered Accountants

Author Archive for S Jaykishan

MCA extends timeline for Name Reservation and Re-submission for Cos. and LLP’s

MCA extends timeline for Name Reservation and Re-submission for Cos. and LLP’s

(Date: 23/04/2020)

In view of the situation arising due to COVID-19 pandemic , the Ministry of Corporate Affairs (MCA) has extended timeline for Name Reservation and Re-submission for Companies & LLP’s by 20 days. As per norms, INC-24 –Application for Name Change (to be filed within 60 days) now, names expiring any day between 15.03.2020 to 03.05.2020 would be extended by 20 days beyond 03.05.2020.

Download Article

Read More >>


SEBI reduces time period for further issue of capital post buy-back

SEBI reduces time period for further issue of capital post buy-back

(Date: 23/04/2020)

Regulation 24(i)(f) of Buy-back Regulations restricts Cos. from raising further capital for a period of one year from the expiry of buyback period. Considering the recent developments relating to the COVID 19 pandemic, the SEBI received a number of suggestions for relaxation of conditions with respect to raising of funds from the securities market. Accordingly, SEBI has decided to reduce time period for further issue of capital raising […] Read More >>


Actionable Claim u/s 2(1) of the CGST Act, 2017

Actionable Claim u/s 2(1) of the CGST Act, 2017

– By CA Nidhi Agrawal

This Article draws reference to Section 2(1) of the CGST Act, 2017 which defines actionable claim as:

“actionable claim shall have the same meaning as assigned to it in section 3 of the Transfer of Property Act, 1882”

Section 3 of the Transfer of Property Act (TPA) provides that:

“actionable claim means a claim to any debt, other than a debt secured by mortgage of immovable property or by hypothecation or […] Read More >>





Filing of GSTR-9A waived off; GSTR-9 made optional incase of turnover up to Rs. 2 crore

Filing of GSTR-9A waived off; GSTR-9 made optional incase of turnover up to Rs. 2 crore

(Date: 21/9/2019)

GST Council in its 37th Meeting on September 20, 2019 effected a relaxation in filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19 as under:

a. waiver of the requirement of filing FORM GSTR-9A for Composition Taxpayers for the said tax periods; and

b. filing of FORM GSTR-9 for those taxpayers who (are required to file the said return but) have aggregate turnover up to Rs. 2 crores made optional for […] Read More >>


CBDT relaxes norms for launching prosecution in certain offences

CBDT relaxes norms for launching prosecution in certain offences

(Date: 13/09/2019)

In order to ensure that only deserving cases get prosecuted, the CBDT has relaxed criteria for launching prosecution in respect of certain offences. For example – In case of non-payment of TDS/TCS is Rs. 25 lakhs or below and delay in deposit is less than 60 days, cases shall not be processed for prosecution. Further, in case of failure to furnish ITR, prior approval of collegium of two CCIT/DGIT rank officer […] Read More >>


CBDT notifies E-assessment Scheme, 2019

CBDT notifies E-assessment Scheme, 2019

(Date: 13/09/2019)

The CBDT has notified an ‘E-Assessment Scheme, 2019’ vide Notification no. 61/2019 & 62/2019, dated 12-09-2019 for the purpose of conducting e-assessments. The scheme shall be come into force with effect from September 12, 2019. Thus, any scrutiny assessment carried out on or after 12-09-2019 shall be governed by this ‘E-assessment Scheme, 2019’.

Download

Read More >>


CBDT amends Rule 114: interchangeability of PAN with Aadhaar

CBDT amends Rule 114: interchangeability of PAN with Aadhaar

(Date: 31/8/2019)

The Finance (No. 2) Act, 2019 has amended Section 139A to make PAN and Aadhaar interchangeable. Now, the CBDT has amended Rule 114 of Income-tax Rules, 1962 to provide that a person, who has not been allotted a PAN, shall be deemed to have applied for the same if he has intimated his Aadhar in lieu PAN. Further, assessees not possessing PAN can apply for it by intimating his Aadhaar only, […] Read More >>