Blogs – Quaserv

Period/Days of extension for names reserved and re-submission of forms

June 23, 2020

S.N. Issue Description Period/Days of Extension 1. Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of name reservation. Names expiring any day between 15th March 2020 to 30th June would be extended by 20 days beyond 30th June 2020. 2. Names reserved for 60 days for change of name of company. INC-24 needs to be filed within 60 days of name reservation. Names expiring…

Changes in Income Tax Returns (ITRs) form for FY 2019-20 or AY 2020-21

June 1, 2020

shantanu

Blogs, income tax, updates

1) If you have taxable income as dividend from domestic companies, you are not eligible to file ITR-1 form. 2) Those with joint ownership of a house property cannot file ITR-1 or ITR-4. 3) Taxpayers need to answer the following questions related to deposits in current accounts, foreign travel and electricity bills in all the ITR forms: a) “Have you deposited an amount or aggregate of amounts exceeding Rs. 1 Crore in one or more…

Period/Days of extension for names reserved and re-submission of forms

May 21, 2020

shantanu

Blogs, company law, updates

S.N. Issue Description Period/Days of Extension 1. Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of name reservation. Names expiring any day between 15th March 2020 to 31st May would be extended by 20 days beyond 31st May 2020. 2. Names reserved for 60 days for change of name of company. INC-24 needs to be filed within 60 days of name reservation. Names expiring…

COVID-19 related Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR)

May 21, 2020

shantanu

Blogs

S.N. FAQ Remarks 1. Whether contribution made to ‘PM CARES Fund’ shall qualify as CSR expenditure? Contribution made to ‘PM CARES Fund’ shall qualify as CSR expenditure under item no (viii) of Schedule VII of the Companies Act, 2013 and it has been further clarified vide Office memorandum F. No. CSR-05/1/2020-CSR-MCA dated 28th March, 2020. 2. Whether contribution made to ‘Chief Minister’s Relief Funds’ or ‘State Relief Fund for COVID-19’ shall qualify as CSR expenditure?…

Special Measures under Companies Act, 2013 (CA-2013) and Limited Liability Partnership Act, 2008 in view of COVID-19 outbreak

May 21, 2020

shantanu

Blogs, company law, updates

In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the Ministry of Corporate Affairs to reduce their compliance burden and other risks: – No additional fees shall be charged for late filing during a moratorium period from 01st April to 30th September 2020, in respect…