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Filing of Form DPT 3 for Deposit and Amount not Considered as Deposits

2May

By instaaccounts1 Comment

Corporate

Filing of Form DPT 3 for Deposit and Amount not Considered as Deposits

MCA has provided an update regarding filing of DPT 3 for Deposits and amount not considered as deposits, MCA via vide Circular No. 05/2019 dated 12/04/2019 has given following clarification: One Time Reporting: Every company should report the outstanding receipt of the money or loan by the company but not considered as deposits from 01/04/2014 to 31stMarch, 2019 instead of till date of publication of notification i.e, 22/01/2019. Return should be filed within 30 days of the deployment of form DPT 3 – Form has been deployed with effect from 01/05/2019 hence the due date for filing is 30/05/2019 Annual Reporting: Every company having deposits and amount not considered as deposits pursuant rule 2 (1)(c) of The Companies (Acceptance of Deposits) Rule, 2014 as on Fi...

Government likely to ban Deloitte for Alleged Malpractice in IL&FS Accounts

29Apr

By InstaFinancialsNo Comments

Corporate

Government likely to ban Deloitte for Alleged Malpractice in IL&FS Accounts

Highlights Deloitte Haskins and Sells has been under the radar over its role in the IL&FS audit process, and are likely to be banned for 5 yearsThe Ministry of Corporate Affairs may consider to invoke section 140 (5) of the Companies Act to debar the companyDeloitte asserted that the group’s defaults started in May 2018.Deloitte audited IL&FS, ITNL along with SRBC&Co (E&Y) and IFIN by its own, in 2016-17 Deloitte Haskins and Sells has been under the radar over its questionable approach towards the role in the IL&FS audit process, and are likely to be banned for 5 years by the government. Apparently, the Ministry of Corporate Affairs may consider to invoke section 140 (5) of the Companies Act to debar the company for alleged malpractice in IL&FS accounts. ...

MCA Extends Due Date For Filing e-Form ACTIVE (INC – 22A)

26Apr

By instaaccountsNo Comments

Uncategorized

MCA Extends Due Date For Filing e-Form ACTIVE (INC – 22A)

MCA has decided to extend the due date from 25th April, 2019 to 15th June, 2019, for filing e-FORM ACTIVE (Active Company Tagging Identities and Verification) Ministry of Corporate Affairs Notification G.S.R. (E). In exercise of the powers conferred by sections 396, 398, 399, 403 and 404 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the companies (Registration Offices and Fees) Rules, 2014, namely:- (1) These rules may be called the Companies (Registration Offices and Fees) Second Amendment Rules, 2019. (2) They shall come into force from the date of publication in the Official Gazette. In the Companies (Registration Offices and Fees) Rules, 2014, in the Annexu...

Filing of Affidavit Not Mandatory for INC-9

17Apr

By instaaccountsNo Comments

Uncategorized

Filing of Affidavit Not Mandatory for INC-9

A recent clarification from MCA stated that it is not mandatory to file affidavit while incorporating a new company, though the declaration by the first subscriber and first director in INC-9 remain mandatory. Stakeholders may note this key clarification while filing the SPICe forms for incorporation of companies. Official Mandate from MCA - Stakeholders are requested to please note that Filing of affidavits (from each of the subscribers to the memorandum and from persons named as the first directors, if any, in the articles that he is not convicted of any offence in connection with the promotion, formation or management of any company, or that he has not been found guilty of any fraud or misfeasance or of any breach of duty to any company under this Act or any previous company ...

MCA Restricts Manufacturing Activities for Limited Liability Partnerships and Include Penalties

16Apr

By instaaccountsNo Comments

Corporate

MCA Restricts Manufacturing Activities for Limited Liability Partnerships and Include Penalties

Highlights MCA puts a hold on LLPs to be a part of manufacturing and allied operationsThe MCA clarification comes along with the Penalty of about INR 100 per dayThe Institute of Company Secretaries of India (ICSI) has differed from MCAs decision The Ministry of Corporate Affairs (MCA) recently elucidated that Limited Liability Partnerships cannot perform any sort of manufacturing and allied operations. This has come as a surprise to some, while shock to many. The MCA clarification comes along with the Penalty of about INR 100 per day for procrastination in filing and various issues faced in dissolution. The government has received a number of representations over the past one year regarding the penalty issue from individuals who registered an LLP, but did not operate an...

15Apr

By instaaccountsNo Comments

New@Insta

What is Inside Director Profile Page?

Highlights You can view the key insights and data points covered in Director Profile PageThe page consists “Director Overview” - You can learn if the Director has an active DIN, No. of companies the Director is associated to and much more.“Director Summary Table” (Unique Feature) - This table provides you a summary of past and current directorship of a Director, along with critical parameters“Director Detail” - Here you can find Total Directorship Count, Director Capitalization, financial potential of a Director etc.“Director Status” - If the Director is disqualified u/s 164(2) and also confirms if the Director has complied with the KYC mandate of MCA or not“Directorships” - This section reflects on Directorships held by a Director in different companies. “Potential Related Directors”...

15Apr

By instaaccountsNo Comments

New@Insta

Now Explore Director Profile Page

Highlights New Feature launched “Director profile Page” allows you to browse through some unique data points of Directors.You can view the latest and accurate information about all the directors absolutely for FREE.Visit InstaFinancials.com. Type any company name on InstaFinancials search console. Scroll down and look for “Directors Detail” section and click on any Director name to view his profile for FREE “FREE Company Master Data Page - InstaBasic Report” offered by InstaFinancials was the most appreciated among all our competitors, in an attempt to keep up to your expectations and deliver more insights, we have now come up with the most requested feature - Director Profile Page. This new feature is a next level update and allows you to browse through some unique data poi...

Companies (Incorporation) Third Amendment Rules, 2019

2Apr

By instaaccountsNo Comments

Uncategorized

Companies (Incorporation) Third Amendment Rules, 2019

G.S.R (E). - In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely:- (1) These rules may be called the Companies (Incorporation) Third Amendment Rules, 2019.(2) They shall come into force on the date of publication in the official gazette.In the Companies (Incorporation) Rules, 2014 (hereinafter referred to as the said rules) After rule 38, following rule shall be inserted namely:-“38A. Application for the registration of the Goods and Service Tax Identification Number (GSTIN), Employees’ State Insurance Corporation (ESIC) registration and Employees’ Provident Fund Organisation (EPFO) registration. T...

5 Smart Ways to Use the Small Business Loan

19Mar

By instaaccounts2 Comments

Academia

5 Smart Ways to Use the Small Business Loan

You finally secured a small business loan - after months of preparation, formalities and waiting. This boost of cash can help your business in a number of ways. But you need to be smart about how you invest the money. 5 Smart Ways to Use the Small Business Loan Hire New Staff or Training Equipment If you are looking to expand your team, using the small business loan for hiring would be a good idea. If hiring a full-time team still proves to be expensive, consider outsourcing. Hiring remote workers or part-time staff can help you create a better workforce. If you are happy with the current staff, invest in creating better training programs. Purchase, Lease, or Repair Equipment Every business needs equipment – be it computers, construction equipment or even cooking equ...

U.S Software Company Ebix Offers to Buy Yatra

19Mar

By instaaccountsNo Comments

Corporate

U.S Software Company Ebix Offers to Buy Yatra

Highlights U.S-based software firm proposed to buy Yatra Online for over 2,345 crore.Ebix claims to have reserved the right to reduce and decline the offer in case Yatra does not respond appropriately to their proposal.Financial statement of Yatra from 2015-2018. Ebix Inc, a U.S based software firm claimed that it has made a proposal to acquire Yatra Online Inc for over INR 2,345 crore. The company sent a letter to the Board of Yatra Online, stating Ebix intend to acquire 100% of the outstanding stock of Yatra Online for INR 486 per share. Yatra is an Indian online travel portal, it is a massive player in terms of online travel company. Apart from booking domestic and international air tickets, the company is also involved in hotel booking, rail and bus ticketing, holiday package...