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09 Sep 2020

Every Company is required to hold an Annual General Meeting of its members (except first Annual General Meeting) within a period of six months from the date of closing of the financial year [Section 96(1) of Companies Act, 2013]. This would mean that every Company shall complete its Statutory Audit on or before 30th September to hold the Annual General Meeting of shareholders to adopt the Financial statements

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01 Aug 2020

CBDT has brought a change in the electronic payment methods for business transactions for specified person engaged in Business-to-Business (B2B) transactions if at least 95% of aggregate of all amounts received during the previous year, including amount received for sales, turnover or gross receipts, are by any mode other than cash.

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19 May 2020

For Companies registered under Companies Act, 2013, shall have the option to verify GSTR-3B, filed during the period starting from 21st April 2020 to 30th June 2020, through electronic verification code (EVC).

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30 Apr 2020

Forms (Form 10IC and Form 10ID) for the exercise of lower Income Tax Rate option have been notified vide Notification No. 10/2020 dated 12/02/2020. The companies that wish to avail the beneficial rate of 22 percent under section 115BAA have to file Form 10-IC on or before the due dates mentioned in sections 139(1) i.e. on or before October 31 (extended by Finance Bill 2020 from September 30). Similarly, the new domestic manufacturing companies, incorporated after October 1, 2019, that wish to be taxed under the concessional tax rate of 15 percent under section 115BAB must file Form 10-ID on or before October 31.

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29 Apr 2020

The Finance Ministry has announced some reliefs in the form of date extensions for businesses to cope up with the difficult times of COVID-19.

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24 Apr 2020

In line with the order of the MHA, the Controller General of Patents, Designs & Trade Marks (CGPDTM) initially issued a Public Notice stating that all the Offices under their administrative control shall remain closed for a period of 21 days with effect from March 25, 2020, which is now further extended to May 03, 2020.

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23 Apr 2020

The sudden outbreak of the pandemic and the nation‐wide lock‐down has put a heavy constraint on individuals as well as the economy. To minimise the impact of the pandemic on the general public as well as business establishments and ensure minimum disruption in the supply chain, many amendments, advisories and announcements have been introduced which would ideally subsist during the containment period but could have long-term implications

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23 Apr 2020

The world economy is experiencing an unexpected recession on account of COVID -19. Many countries, including India, have declared COVID-19 crisis as a national emergency and have issued directions for partial or complete lockdown.

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17 Apr 2020

The Government of India has further extended the country-wide lockdown up to 3rd May 2020 to combat the spread of COVID 19. Strict restrictions have been imposed on mobility and gathering of people is sternly prohibited to supress the contagion. Considering such a scenario, companies struggled with urgent business decisions that required shareholder approvals under the Companies Act 2013 (Act) because convening a physical meeting of shareholders was rendered impossible.

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13 Apr 2020

‘Force Majeure’ is a French term which literally means “superior force” and the term is defined in the Collins English Dictionary as an “irresistible force or compulsion such as will excuse a party from performing his or her part of a contract”. It commonly refers to a provision in commercial contracts to mitigate accountability for unforeseen natural and uncontrollable calamities that disrupt the usual flow of events and impede the parties from fulfilling contractual obligations.

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