April 2024

Food Security Card

Government Schemes / /

The National Food Security Act (NFSA), also known as Right to Food Act is considered historic legislation which was introduced with an aim to provide specific rights and entitlement to the underprivileged people of the country.   These rights are introduced to help underprivileged people to get proper nourishment and lead healthy lives. Launched in 2013, the National Food Security Act comprises a mid-day meal program, integrated service of child development, and a public system of food distribution. Moreover, under the implementation of the act, the government has allocated subsidized food grains to over two third of the underprivileged population of India. The document referred to as the National Food Security Card, additionally known as the Food Security Ration Card, gives cardholders with right to important items like rice, sugar, fertilisers, kerosene, and LPG at decreased charges. Through the ‘One Nation One Ration’, cardholders can buy essentials from any ration shop. Furthermore, the card serves as a flexible file, serving as legitimate evidence of identity for each of the cardholder and their families. What is NFSA in Ration Cards? The “One Nation One Ration Card” (ONORC) Scheme was launched by the Department of Food & Supplies and Consumer Affairs, Ministry of Consumer Affairs, Food & Public Distribution in 2018. It is a national Ration Card portability scheme to ensure food security for all including internal migrants within India. It enables migrant workers and their family members to access PDS benefits from any Fair Price Shop anywhere in the country, thus ensuring the food security through the inter-state portability of ration cards under the National Food Security Act, 2013 (NFSA). A Fair Price Shop (FPS) is a public ration store licensed under Section 3 of the Essential Commodities Act of 1955. Ration card details and entitlements are available online on any ePoS device in the country. It includes both inter-State and intra-State (inter-district/intra-district) portability of ration cards.Assam is the 36th State to implement the One Nation One Ration Card (ONORC) scheme. The ONORC plan has successfully been implemented in all 36 States/UTs making food security portable throughout the country. The government has launched a mobile app, namely ‘MERA RATION’ for acquiring the maximum benefit of the ONORC plan. Benefits of National Food Security Card It will benefit approximately 81 crores beneficiaries by digitizing Ration Cards. This system allows all NFSA beneficiaries, particularly migrant beneficiaries, to claim either full or part food grains from any Fair Price Shop (FPS) in the country through an existing ration card with biometric/Aadhaar authentication in a seamless manner. With the ONORC, all the beneficiaries in one state can get the same fair rations in other states where the ration card was issued. The scheme will ensure food security of migrant laborers who move to other states to seek better job opportunities. It will improve the mechanism to identify fake/duplicate ration cards. It seeks to provide universal access to PDS food grains for migrant workers. Ration card portability will be achieved by implementing an IT-driven system that installs ePoS devices in each Fair Price Shop (FPS). The ONORC will also help achieve the target set under SDG 2: Ending hunger by 2030. National Food Security Act, 1999 The National Food Security Act of 2013 plays an important role in ensuring fundamental human rights of Indian citizens as enshrined in Article 21 of the Constitution. Pre-NFSA Situation: Public Distribution Systems Before the NFSA, the government managed matters related to food through the Public Distribution System and the Targeted Public Distribution System. NFSA Implementation On July 4, 2013, the Union Cabinet accredited the National Food Security bill, marking a massive change. This legislative degree brought massive benefits to over sixty seven % of the population. Primary Goal: UN’s Hunger Eradication Objective The primary intention of the NFSA aligns with the United Nations’ worldwide agenda to remove hunger with the aid by 2030. Through its provisions, the NFSA targets to ensure meals security and address the broader right to live for the residents of India. National Food Security Card Eligibility Households which are covered under provisions associated with Antyodaya Anna Yojana (AAY). Priority households mentioned under the clauses of the Targeted Public Distribution System or TPDS. As per the latest data released by the census, the population coverage is determined by the Central Government of India. As per the latest reports, National Food Security Act scheme is aimed for the 50% of the people residing in urban India and 75% of the people staying in rural parts of the country. The cost of foodgrains are set for a tenure of three years after which the rates of food grains set by the Central Government will change as per the ‘Minimum Support Price’ criteria. In case of the shortage of foodgrains, the beneficiaries will be compensated with a food security allowance which will be administered by providing cash to purchase food grains. Security Allowance and Food Entitlements Under the NFSA, each month, the beneficiaries will get 5kg food grain per person. Under this scheme of AAY, the beneficiaries will get 35 kg food grains each month. The cost of the foodgrains are set for a period of three years after which the government will change the fixed rates as per the ‘Minimum Support Price’. The price of foodgrains is set maximum of Rs.2 per kg of wheat, Rs.3 per kg of rice, and Re.1 per kg of coarse foodgrains for three-year tenure. In case of the shortage of foodgrains, the households will be duly compensated with foodgrain security allowance which will be administered by providing cash to purchase foodgrains. Special Facility to Women and Children NFSA pays special emphasis to women and children by providing certain benefits to them. Given below are the principles of NFSA which aims to give special focus to women and children Pregnant and lactating women can get free meal at any time during their pregnancy and this facility is valid for six months after the birth of a child. Children aged between six months and six years can get meals free of cost.

Food Security Card Read More »

Sovereign Gold Bond Scheme 2023-24

learn / /

In a world where financial stability often feels like a distant dream, finding reliable investment avenues becomes paramount. Enter the Sovereign Gold Bond Scheme, a beacon of hope in the tumultuous sea of investments. This innovative scheme, introduced by the government, offers a unique opportunity to invest in gold without the hassle of physical ownership. Purpose of the Sovereign Gold Bond Scheme 2023-24 The Sovereign Gold Bond Scheme serves as a bridge between traditional gold investments and modern financial instruments. Its primary purpose is to: Provide individuals with a secure and convenient way to invest in gold. Encourage investments in gold for its role as a store of value and hedge against inflation. Reduce the reliance on imported gold, thereby stabilizing the country’s economy. Advantages of Investing in Sovereign Gold Bonds Investing in the Sovereign Gold Bond Scheme comes with a myriad of benefits, making it an attractive option for investors looking to diversify their portfolios. Here are some advantages to consider: No Hassle of Physical Storage: Unlike physical gold, which requires safekeeping and incurs additional costs, Sovereign Gold Bonds are held in electronic form, eliminating the need for storage worries. Fixed Interest Income: Investors earn a fixed rate of interest on their investment, providing a regular income stream in addition to the potential capital appreciation of gold. Capital Appreciation: With gold prices historically appreciating over time, investors stand to benefit from potential capital gains upon maturity or premature redemption. Tax Benefits: Sovereign Gold Bonds offer tax benefits on both interest income and capital gains, making them a tax-efficient investment option. Liquidity: Sovereign Gold Bonds can be traded on stock exchanges, providing investors with liquidity and flexibility to exit their investments when needed. Who Can Invest? The Sovereign Gold Bond Scheme is open to a wide range of investors, including: Individuals Hindu Undivided Families (HUFs) Trusts Universities Charitable Institutions However, minors are not eligible to invest directly in Sovereign Gold Bonds but can do so through their guardians. Additionally, non-resident Indians (NRIs) are not eligible to invest in the scheme. Prescribed Authority: Who Regulates the Scheme? The Sovereign Gold Bond Scheme is regulated by the Reserve Bank of India (RBI) on behalf of the Government of India. The RBI oversees the issuance, pricing, and redemption of Sovereign Gold Bonds to ensure compliance with regulatory standards and investor protection. Subscription Dates: Grab the Opportunity Series I: Subscription Period: June 19 to June 23, 2023 Issuance Date: June 27, 2023 Series II: Subscription Period: September 11 to September 15, 2023 Issuance Date: September 20, 2023 During the specified subscription periods, interested individuals can apply for the respective series of Sovereign Gold Bonds. It’s important to note that the subscription window is open for a limited time, and applications must be submitted within the designated period. Interest Rate: Maximizing Returns One of the key attractions of the Sovereign Gold Bond Scheme is the competitive interest rate it offers to investors. The interest rate is fixed at the time of issuance and remains constant throughout the tenure of the bond. The rate is determined based on the prevailing market conditions and is typically higher than other fixed-income instruments. Investors can thus enjoy attractive returns while benefiting from the appreciation of gold prices. Sovereign Gold Bond 2023: Offering Price and Discount The Indian government has set the offering price for the initial installment of the Sovereign Gold Bond Scheme 2023-24 at Rs.5 926 per gram of gold. This scheme, available for subscription over five days commencing on Monday, provides a discount of Rs.50 per gram to investors who apply online. Consequently, online investors can purchase a Gold Bond at an issue price of Rs.5 876 per gram of gold. Sovereign Gold Bond: Investment Limit The minimum investment allowed is 1 gram of gold. For individual investors, the maximum subscription limit is 4 kilograms of gold. The maximum subscription limit for Hindu Undivided Families (HUF) is also 4 kilograms of gold. Trusts and similar entities have a higher maximum subscription limit of 20 kilograms of gold. These limits apply on a fiscal year basis, from April to March. Tenure of the Bond The Bond will have a duration of 8 years, and starting from the 5th year, investors will have the option to exit on the interest payment dates. This means that from the 5th year onward, you can redeem the Bond on the 6th, 7th, or at its maturity in the 8th year. Before the 5th year, redemption is not possible. The Reserve Bank of India (RBI) or the depository will provide one month’s notice to investors regarding the Bond’s maturity date, ensuring that investors are informed well in advance. Maturity Period  Sovereign Gold Bonds (SGBs) have a maturity period of eight years. However, investors have the option to redeem them early after the completion of the fifth year. The redemption price of the bonds, whether upon maturity or early redemption, is determined based on the average closing price of gold with a 999 purity over the preceding three working days. Where to Purchase Sovereign Gold Bond Scheme 2023-24 Series I? The bonds can be acquired directly or through authorized agents from different sources, recognized stock exchanges, and the Bombay Stock Exchange. Sovereign Gold Bond Scheme 2023-24 Series Interest Income: The semi-annual interest income earned will be considered taxable income. For individuals in the 10%, 20%, or 30% tax bracket, the post-tax return would be 2.25%, 2%, and 1.75%, respectively. This income should be declared under the head of “Income from Other Sources,” and taxes should be paid accordingly, similar to your Bank Fixed Deposits (FDs). Redemption of Bond: As mentioned earlier, from the 5th year onwards, you can redeem the Bond in the 6th, 7th, or 8th year (last year). Let’s assume you invested in the Bond for Rs. 2,500, and at the time of redemption, the bond price is Rs. 3,000. In this case, you would realize a profit of Rs. 500. The capital gain arising from redemption is exempt from Tax for individuals. Selling in the Secondary

Sovereign Gold Bond Scheme 2023-24 Read More »

Foreign Company in India and Registration

Companies Act 2013 / /

India’s rapid economic growth and favourable business environment make it an attractive destination for foreign companies looking to expand their operations. With a large population, comprehensive tax system, low operational costs, a vast trade network, and government initiatives to promote international trade, India offers numerous opportunities for foreign companies to establish a successful presence in the country.The fastest-growing economies globally, with substantial human potential and a large market comprising over 1.2 billion people. The opportunities present in India have attracted a large amount of Foreign Direct Investment (FDI) into the country. Each year, the FDI inflow increases due to many foreign businesses establishing their operations in India.NRIs and Foreign Nationals starting or investing in a business in India have mainly done through a private limited company, as it allowed for 100% Foreign Direct Investment (FDI) under the automatic route for many of the sectors. Though the cost for the incorporation of a private limited company is relatively low compared, the effort required to maintain compliance was an inhibiting factor. To allow NRIs and Foreign Nationals to freely invest in businesses in India and improve foreign investment, the Government has now allowed 100% FDI in LLP under the automatic route.  Foreign Company Under the Companies Act, 2013 Sec 2(42) of the Companies Act, 2013 (‘Act’) defines a foreign company as a body corporate or company that is incorporated outside India, but- Has a business place in India, whether through an agent or by itself, either physically or through electronic mode Conducts business activity in India in any other manner India Entry for NRIs and Foreign Nationals Incorporation of Company: Incorporation of private limited company or investment in a company has been the most preferred India entry strategy for NRIs and Foreign Nationals. 100% FDI under the automatic route has been the main reasons for the popularity of private limited company amongst NRIs and Foreign Nationals.  Opening of Branch Office: Opening a branch office requires approval from RBI and is a more cumbersome process when compared to the incorporation of a private limited company. Further, only well-established businesses having a good track record in terms of financials are allowed to open a branch office in India. Therefore, India entry through establishing a Branch Office has not been preferred by NRIs or Foreign Nationals. Registration of LLP: Prior to November 2015, investment in LLP by NRI or Foreign National required Government approval. This made LLP incorporation involving NRIs and/or Foreign Nationals – a long, cumbersome and expensive process. Thus company registration was preferred over LLP registration by NRIs and Foreign Nationals. With the relaxation of FDI norms in November 2015, LLP registration can be done easily by NRIs and Foreign Nationals, making it an ideal investment vehicle for establishing a small business in India with foreign direct investment. Ways in Which Foreign companies can be Registered in India  The foreign national can establish a foreign company as a private limited company in India. Establishing a private limited company is the fastest way to set up a company in India. FDI of up to 100% into a private limited company is permitted under the FDI policy under the automatic route. A foreign national can incorporate a private limited company as a joint venture or a wholly-owned subsidiary.  Joint venture- A foreign entity will elect a local partner in India with whom it wishes to enter into a joint venture to operate its business in India. A Letter of Intent or Memorandum of Understanding (MOU) is signed between the foreign entity and the local partner, which will state the joint venture agreement basis. The joint venture agreement contains all the business terms, and it must be consistent with regional and international law.  Wholly-owned subsidiary- A foreign national/company can invest 100% FDI in an Indian company through the automatic route for the purpose of registering foreign in India. When a foreign entity invests 100% FDI in an Indian company, the Indian company will become a wholly-owned subsidiary of the foreign entity/company. A foreign company can register a liaison office, project office or branch office in India to carry on its operations in India. However, opening these offices requires RBI or government approval.  Liaison office- A foreign company can establish a liaison office for all liaison activities in India. The parent company (foreign company) will meet all the expenses of a liaison office through foreign remittance. Project office- A foreign company can establish a project office in India to execute projects awarded to them by an Indian Company. However, to establish such a project office, the foreign company may be required to obtain approval from the Reserve Bank of India. Branch office- A foreign company can establish a branch office in India. To establish a branch office, the foreign company must be a large business and provide proof of profitability.  Foreign Company Registration Process in India Joint venture registration process A joint venture is a contract/arrangement where two or more parties get together to run a business or achieve a commercial object. To establish a company in India through a joint venture, the foreign entity/national has to choose a local partner with whom they want to enter into a joint venture.  Then, the foreign entity and the local partner should sign an MOU or a Letter of Intent.  The MOU or a Letter of Intent should state the basis for the joint venture agreement.  The foreign entity and the local partner must negotiate and discuss all the terms of the joint venture agreement thoroughly. The joint venture agreement must be consistent with regional and international law.  It should contain essential matters like dispute resolution agreements, holding shares, applicable law, transfer of shares, confidentiality, board of directors non-compete, etc. Wholly-owned subsidiary registration process A minimum of two directors are required to register a wholly-owned subsidiary, out of which one director must be a resident in India. All directors must apply for DIN (Director Identification Number) and DSC (Digital Signature Certificate). The Memorandum of Association (MOA) and Article of Association (AOA) must be drafted. 

Foreign Company in India and Registration Read More »

no objection certificate for building construction

learn / /

Anyone who intends to carry out new development, erect, re-erect, make any improvements in a structure, or demolish any building must get building permits from the local planning authority. A developer is required to get a No Objection Certificate from as many as 19 departments prior to the construction of the house. These include, among others, the water, electrical, fire, environmental, and airport agencies. When the developer receives these approvals, the construction of the house may begin. What is a No Objection Certificate? A No Objection Certificate is a legally binding document that grants legal permission to build any structure. It can be granted by a government agency or an individual. It is a clearance that ensures that the authority or individual will not cause any legal problems. A No Objection Certificate is provided to confirm that the construction of the house does not violate any of the rules established by an agency, organization, or institute. Advantages of No Objection Certificate 1. Evidence: It is considered a legal document that can be used as evidence in court, particularly during mortgage settlement issues. 2. Avoid hassles: It can be used to smooth out any future inconsistencies or legal hassles during the construction of the house. 3. Credit information: It caters to credit score improvement by escalating a No Objection Certificate to the Credit Information Bureau. 4. Easy Loans: Obtaining further loans during the construction of a house becomes easier with a No Objection Certificate from the previous lender. 5. Valid document: It acts as a formal declaration that no monetary obligations are associated  with the bank or financing provider. 6. Safety: The document ensures the safety of the people who are going to move in after the construction of the house. 7. No punishment: Prevents harsher penalties and imprisonment and protects against legal procedures and damages. 8. Legal permission: Building No Objection Certificate grants legal permission for the construction of a house or building. Prerequisites for No Objection Certificate Title clearance: A builder’s first objective should be to locate a clear land title or site for the construction of the house. This means that the land is appealing and follows any costs or deductions made to the property and its present state, allowing the potential buyer to grasp the chain of possession. Land clearance: approval from the local authority is necessary for the construction of the house and change in land use, and bare land dues from the main plan must be amended. The state government will publicize the land use plan once the limits have been authorized by the local authority. Building approval: The next step is to obtain permission from the authorities to approve building licenses under the building ordinances, master plan, and local body act. Approval for the construction of a house entails a building plan as well as the approval of the building’s structural format. Building plan: The manufacturer should install the building plan. After this process, the plan for the construction of the house will define how a building may turn out and ensure that the project conforms to building rules.  Disapproval Imitation: The impersonation of disapproval refers to the conditions that must be met at various phases of the ground construction project. The Building permit is another name for the imitation of a restriction in specific regions. These circumstances are frequently classified into three types: – 1. Prior to the commencement of development work 2. During the construction of the house 3. Following the completion of construction Completion Certificate: Before selling the property, the Completion Certificate must be obtained once the construction of the house is done. Following the inquiry, a certificate of completion is awarded. This certifies that the builder followed the authorized plan when constructing the structure. Requirements for No Objection Certificate No Objection Certificate from the Society: Obtaining this document assures that the seller has no outstanding debts on the property at the time of sale. A No Objection Certificate is also necessary when completing the construction of a house or applying for a loan from a financial institution.  No Objection from Developer: Developers typically get funds for project completion from banks and private financial institutions by mortgaging their properties as a guarantee. In such instances, it is critical to get a No Objection Certificate from the developer.  No Objection Certificate from Mortgagee: Typically, developers get funds from banks and private financial institutions for the completion of their projects by mortgaging them as a guarantee. It is critical to get a No Objection Certificate from the developer. Once the NOC is received, the bank cannot dispute the property sale for a specific mortgaged project. Section 15 of the RERA: whenever a developer transfers his rights and responsibilities to a third party, they must get a No Objection Certificate from at least two-thirds of the allottees participating in the project. The RERA authority issues a comparable certificate after the allottees grant the certificate. Format of No Objection Certificate 1. Identity Proof of Applicant  2. Address Proof of the Applicant  3. Copy of the Analysis Report  4. Building blueprint that should be stamped 5. The architect’s layout of construction of the house 6. Building security certification 7. A checklist was used to fill out a questionnaire. 8. Photographs of construction of the house from the exterior Duration of No Objection Certificate A No Objection Certificate generally has a duration, after which it expires. A residential building has a 5-year expiration date, whereas a commercial building has a 3-year expiration date. The value of the NOC document becomes null after the expiration term. It no longer has any legal difficulties. The builder can no longer utilize the same to shield himself or herself from legal action. FAQs What is a No Objection Certificate (NOC) for building construction? A No Objection Certificate (NOC) is a legal document issued by a relevant authority or organization, typically a local municipal corporation or planning authority. It signifies that the concerned authority has no objection to the proposed construction project. Why is a No Objection Certificate (NOC) required for building

no objection certificate for building construction Read More »

Air Quality Index (AQI)

learn / /

Air pollution is nothing that we are not aware of; by now, we all know the source, the problems or the health risks The pollutant with the highest AQI value determines the overall AQI for that hour. The MPCA produces daily air quality forecasts for levels of fine particles and of ground-level ozone (from March through October) in eighteen locations in Minnesota. When the forecast is for AQI values to be near or to exceed 101, an air quality alert is issued. What is air quality index? The Air Quality Index is acquired by measuring emissions of eight major pollutants present in the air: Particulate matter (PM2.5 and PM10), Ozone (O3), Carbon Monoxide (CO), Nitrogen Dioxide (NO2), Sulphur Dioxide (SO2), Lead (Pb) and Ammonia (NH3) emissions. Readings are noted every hour. Each country has their air quality indexes based on its air quality standards. Air Quality Index India the government agencies are responsible for communicating to the public about the health hazards and how to keep a check on them. Under the Swachh Bharat Abhiyan, the National Air Quality Index was launched in September 2014 in New Delhi to measure India’s air quality index. The Central Pollution Control Board (CPCB) has formed an expert group of medical professionals, air quality experts, academia, advocacy groups, and SPCBs. Also, a technical study was awarded to IIT Kanpur. In 2014, the IIT Kanpur and the expert group recommended an AQI scheme for India. Six cities of India- New Delhi, Kolkata, Mumbai, Pune, and Ahmedabad have a continuous monitoring system that records data in real-time. Instrument to Measure Air Quality Few instruments that are used for measuring air quality are: PCE-RCM 05 PCE-RCM 8 PCE-HFX 100 Calculation of AQI The computation of the AQI is based on the average air pollutant concentration over a specified period, which is obtained from an air monitor or model. The AQI increases because of an increase in the emission of air pollutants; for example, during heavy traffic or forest fire, a high value of AQI is observed. In addition, due to anticyclone or temperature inversion, Stagnant air leads to high concentrations of pollutants in the air. This results in chemical reactions between air pollutants and hazy conditions, thus increasing the AQI. Categories of Air Quality Index The National Air Quality Index has set up six AQI categories: Good, Satisfactory, Moderately polluted, Poor, Very Poor, and Severe. Each category specifies health impacts associated with it as mentioned below given table: AQI Category Health Impacts 0-50 Good/ Safe Minimal Impact 51-100 Satisfactory Sensitive people might experience minor breathing discomfort 101-200 Moderately polluted Lung disease patients may have discomfort in breathing, and heart disease, children and older adults might experience discomfort 201-300 Poor Breathing discomfort on prolonged exposure, and discomfort to heart disease patients 301-400 Very poor Prolonged exposure might lead to respiratory illness. Severely affects people with lung and heart diseases. 401-500 Severe While healthy people may experience respiratory problems, lung or heart disease patients can have severe health impacts. Even during light physical activity, people may experience health impacts. FAQs When was the National Air Quality Index India launched? The National Air Quality Quality (AQI) India was launched on 17 September 2014 in New Delhi under the Swachh Bharat Abhiyan by Environment Minister Shri PrakashJavadekar. Which city in India has the worst air quality? New Delhi, the capital of India, has the worst air quality, according to the National Air Quality Index, where the main components of air pollution are the PM 2.5 and PM 10 particles. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd |

Air Quality Index (AQI) Read More »

₹400 Lakh Crore now – BSE 2024 : Know all

Business / /

The market capitalization of BSE-listed companies soared past ₹400 lakh crore, marking a historic milestone propelled by robust domestic fund inflows, with the Sensex edging closer to the 75,000 mark. Within just nine months, the market added the last ₹100 lakh crore, fueled by enthusiastic investments from local investors. Back on July 5, 2023, the market celebrated crossing the ₹300 lakh crore market cap threshold when the Sensex stood at 65,446. Since then, the index surged over 14%, but the broader market cap witnessed an impressive 34% leap. Non-index stocks, particularly mid and small-cap entities, witnessed significant gains during this period. On Monday, the Sensex hit a new lifetime pinnacle of 74,869.3, eventually closing at 74,742.5, up 0.7%, while the Nifty reached 22,697.30 before settling at 22,660.95, also up by 0.7%. Recent entrants to the market, including Jio Financial Services, contributed approximately Rs 8 lakh crore to the market capitalization since July 5, 2023. Notably, Reliance Industries led the pack by adding Rs 2.61 lakh crore during this period. Other top performers include HDFC Bank, TCS, and Life Insurance Corporation of India, each adding substantial value to the market. The growth momentum extended beyond large caps, with companies like L&T, Tata Motors, NTPC, SBI, and Adani Green witnessing a surge of over Rs 1 lakh crore in market value since July last year. This exponential rise in market capitalization is emblematic of India’s vibrant capital markets, witnessing heightened retail investor participation, with demat accounts surging from 106 million to 151 million within a year. India’s economic prowess is attributed to the Aspirations of people of India to uplift themselves, their lifestyle, and their standard of living. Their is a zeal in Indian youth today both working in corporate jobs and/or having their own startups to make change their current status not only for themselves but also for the coming generations. In 2023 alone, domestic institutional investors injected Rs 1.85 lakh crore into the market, with investments continuing strong in 2024, totaling Rs 1.12 lakh crore so far. Since April 2023, the overall market capitalization of BSE-listed companies witnessed a staggering 55% surge, equivalent to Rs 143 lakh crore. In comparison, the Sensex registered a 27% gain during the same period. India’s stock market journey reflects an amalgamation of resilience, growth, and investor confidence, setting the stage for a dynamic economic landscape ahead. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

₹400 Lakh Crore now – BSE 2024 : Know all Read More »

National Advisory Committee on Accounting Standard

Companies Act 2013 / /

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 20th September, 2017 S.O. 3085(E).—In exercise of the powers conferred by sub-section (1) of section 210A of theCompanies Act, 1956, (1 of 1956), the Central Government hereby makes the following further amendmentsin the notification of the Government of India, in the Ministry of Corporate Affairs, number S.O. 3118(E),dated the 3rd October, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(ii) dated the 3rd October, 2016, namely:—2. In the said notification,—(i) in paragraph 1, for serial number 2 and the entries relating thereto, the following serial numberand the entries shall be substituted, namely:—“(2) Shri Sanjay Gupta, President, Nominee of the Institute ofCost Accountants of IndiaMember, [nominated under clause(b) of sub-section (2) of section210A of the said Act].”;(ii) in paragraph 2, for the words “one year” the words “two years” shall be substituted. [F. No. 1/5/2001-CL-V (Part VI)]AMARDEEP SINGH BHATIA, Jt. Secy. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

National Advisory Committee on Accounting Standard Read More »

Commencement of proviso to section 2(87)

Companies Act 2013 / /

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 20th September, 2017 S.O. 3086(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act,2013 (18 of 2013), the Central Government hereby appoints the 20th September, 2017 as the date on whichproviso to clause (87) of section 2 of the said Act shall come into force. [F. No. 01/13/2013-CL-V]AMARDEEP SINGH BHATIA, Jt. Secy. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

Commencement of proviso to section 2(87) Read More »

The Companies (Restriction on number of layers)Rules, 2017

Companies Act 2013 / /

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 20th September, 2017 G.S.R. 1176(E).—In exercise of the powers conferred under proviso to clause (87) of section 2, section 450read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Governmenthereby makes the following rules, namely:—1. Short title and Commencement.—(1) These rules may be called the Companies (Restriction on number of layers)Rules, 2017.(2) They shall come into force on the date of their publication in the Official Gazette.2. Restriction on number of layers for certain classes of holding companies.—(1) On and from the date ofcommencement of these rules, no company, other than a company belonging to a class specified in sub-rule (2), shallhave more than two layers of subsidiaries:Provided that the provisions of this sub-rule shall not affect a company from acquiring a company incorporatedoutside India with subsidiaries beyond two layers as per the laws of such country:Provided further that for computing the number of layers under this rule, one layer which consists of one ormore wholly owned subsidiary or subsidiaries shall not be taken into account.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)](2) The provisions of this rule shall not apply to the following classes of companies, namely:—(a) a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);(b) a non-banking financial company as defined in clause (f) of Section 45-I of the Reserve Bank of India Act,1934 (2 of 1934) which is registered with the Reserve Bank of India and considered as systematically importantnon-banking financial company by the Reserve Bank of India;(c) an insurance company being a company which carries on the business of insurance in accordance withprovisions of the Insurance Act, 1938 (4 of 1938) and the Insurance Regulatory Development Authority Act,1999 (41 of 1999);(d) a Government company referred to in clause (45) of section 2 of the Act.(3) The provisions of this rule shall not be in derogation of the proviso to sub-section (1) of section 186 of the Act.(4) Every company, other than a company referred to in sub-rule (2), existing on or before the commencement ofthese rules, which has number of layers of subsidiaries in excess of the layers specified in sub-rule (1) –(i) shall file, with the Registrar a return in Form CRL-1 disclosing the details specified therein, within a period ofone hundred and fifty days from the date of publication of these rules in the Official Gazette;(ii) shall not, after the date of commencement of these rules, have any additional layer of subsidiaries over andabove the layers existing on such date; and(iii) shall not, in case one or more layers are reduced by it subsequent to the commencement of these rules, have thenumber of layers beyond the number of layers it has after such reduction or maximum layers allowed in subrule (1), whichever is more.(5) If any company contravenes any provision of these rules the company and every officer of the company who isin default shall be punishable with fine which may extend to ten thousand rupees and where the contravention isa continuing one, with a further fine which may extend to one thousand rupees for every day after the firstduring which such contravention continues. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST

The Companies (Restriction on number of layers)Rules, 2017 Read More »

The Investor Education and Protection Fund Authority(Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017

Companies Act 2013 / /

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 13th October, 2017 G.S.R. 1267(E).—In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8),(9), (10) and (11) of section 125, sub-section (6) of section 124 read with section 469 of theCompanies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules furtherto amend the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer andRefund) Rules, 2016, namely:—1. (1) These rules may be called the Investor Education and Protection Fund Authority(Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017.(2) They shall come into force from the 13th October, 2017.2. In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer andRefund) Rules, 2016, (hereinafter referred to as the principle rules), in rule 6—(I) in sub-rule (1),—(a) for the second proviso, the following proviso shall be substituted, namely:—“Provided further that in cases where the period of seven years provided undersub-section (5) of section 124 has been completed or being completed during the period from7th September, 2016 to 31st October, 2017, the due date of transfer of such shares shall bedeemed to be 31st October, 2017.”;(b) after the second proviso, the following proviso shall be inserted, namely:—“Provided further that transfer of shares by the companies to the Fund shall be deemed tobe transmission of shares and the procedure to be followed for transmission of shares shall befollowed by the companies while transferring the shares to the fund.”.(II) in sub-rule(3), for clause (d), the following clause shall be substituted, namely;—‘(d) For the purposes of effecting the transfer shares held in physical form-(i) the Company Secretary or the person authorised by the Board shall make anapplication, on behalf of the concerned shareholder, to the company, for issue of anew share certificate;(ii) on receipt of the application under clause (a), a new share certificate for each suchshareholder shall be issued and it shall be stated on the face of the certificate that“Issued in lieu of share certificate No….. for the purpose of transfer to IEPF” andthe same be recorded in the register maintained for the purpose;(iii) particulars of every share certificate shall be in Form No. SH-1 as specified in theCompanies (Share Capital and Debentures) Rules, 2014;(iv) after issue of a new share certificate, the company shall inform the depository byway of corporate action to convert the share certificates into DEMAT form andtransfer in favour of the Authority.’;(III) after sub-rule (12), the following sub-rules shall be inserted, namely:—“(13) Any amount required to be credited by the companies to the Fund as provided undersub-rules (10), (11) and sub-rule (12) shall be remitted into the specified account of the IEPFAuthority maintained in the Punjab National Bank.(14) Authority shall furnish its report to the Central Government as and when noncompliance of the rules by companies came to its knowledge.”.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]3. In the principle rules, in rule 7—(a) after sub-rule (2), the following sub-rule shall be inserted, namely:—“(2A) Every company which has deposited the amount to the Fund shall nominate a NodalOfficer for the purpose of coordination with IEPF Authority and communicate the contactdetails of the Nodal Officer duly indicating his or her designation, postal address, telephoneand mobile number and company authorized e-mail ID to the IEPF Authority, within fifteendays from the date of publication of these rules and the company shall display the name ofNodal Officer and his e-mail ID on its website.”;(b) after sub-rule (3), the following proviso shall be inserted, namely:—“Provided that in case of non receipt of documents by the Authority after the expiry of ninetydays from the date of filing of Form IEPF-5, the Authority may reject Form IEPF-5, aftergiving an opportunity to the claimant to furnish response within a period of thirty days.”;(c) after sub-rule (7), the following proviso shall be inserted, namely:—“Provided that in case of non receipt of rectified documents by the Authority after the expiryof ninety days from the date of such communication, the Authority may reject Form IEPF-5,after giving an opportunity to the claimant to furnish response within a period of thirtydays.”. [F. No. 05/17/2017-IEPF]AMARDEEP SINGH BHATIA, Jt. Secy. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer |

The Investor Education and Protection Fund Authority(Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 Read More »