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Hi Folks
Yet another Women’s Day came and went by on 8th March. This time the theme was “Press for Progress” with focus on ‘collaboration’ & ‘shared responsibility’. I was invited by two MNCs to address their women employees. I took the opportunity to share my own personal experience which I thought will be more credible than talking about some celebrities who are so often quoted and heard. I am no celebrity but by the sheer number of years that I have tried to balance my working life and personal one, I guess I qualify to say something. It has helped me to be a marathoner than a sprinter. Here are some buttons to press for progress :
✤  Press for Progress with People Power – nothing is ever achieved alone
✤  Create & nurture support system – do it even before you need it
✤  Stand on your legs – financial independence is a must
✤ Realise your potential – education, career, marriage, family, hobbies, service to society,      everything is possible
✤  Ask what you want – be clear about your priorities in life and ask assertively, don’t hesitate
✤  Don’t strive to be a perfect woman – it is a myth, not worth the stress
✤  Take bold decisions – whether office or family, sometimes it is better to move on
✤  Trust, delegate, empower – this is the secret to success of ‘shared responsibility’
✤  Health is wealth – take care of yourself first, this will take care of the family
✤  Learn to say No – my co-speaker said this and I echo
✤  Believe in yourself – Dont under estimate, YOU ARE SHAKTI
There are many attributes of a good leader but as women, many of us are endowed with compassion and empathy. Use them well. They are not signs of weakness. Rather they bring in a different style of leadership when mixed judiciously with aggression and candidness. A strong leader needs all of these contrasting attributes and more.
I salute all the women leaders – at home and outside, sung, unsung and wish each one progresses well in their respective chosen paths. Whether a woman earns or facilitates earning by her man, by staying back to take care of the family – she is an economic contributor and is most valuable to society.
While 15th March is the last date for payment of Advance Tax, it is also the due date for release of the next issue of Samhita – 184th to be precise. The important regulatory changes in this fortnight are carried in this issue.
For our earlier issues do visit the Resource Centre at sharadasc.com.

Happy Reading

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  • Form AOC-3A (Statement containing salient features of the financial statements) has been introduced under the Companies (Accounts) Rules, 2014.
  • The Companies which are required to comply with Companies (Indian Accounting Standards) Rules, 2015 i.e., listed Companies with net worth of Rs. 500 Crore or more shall forward their statement in Form AOC-3A.
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Circular issued by SEBI has facilitated the listed entities to comply with the minimum public shareholding requirements by allowing the following additional methods, subject to certain conditions specified:
  1. Open market sale: Sale of shares held by the promoters/promoter group up to 2% of the total paid-up equity share capital of the listed entity in the open market, subject to five times’ average monthly trading volume of the shares of the listed entity;
  2. Qualified Institutions Placement: Allotment of eligible securities through Qualified Institutions Placement in terms of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
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Insolvency and Bankruptcy Board of India (IBBI) has issued a circular reiterating the need for maintaining complete confidentiality of all information and restricting access to unauthorized persons, except to the extent provided under the code, by IRPs (Interim Resolution Professionals), RPs (Resolution Professionals) or Liquidators.
Considering the wide media coverage and sensationalism around high profile IBC cases, this circular gains importance in upholding the sanctity of the insolvency process.


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E-way Bill System
CBEC has notified  the CGST (Second Amendment) Rules, 2018, mainly to amend/ revise Rules 138, 138A, 138B, 138C and 138D relating to generation of E-way Bill system and Procedures for Intra/ Inter-state movement of Goods, including to amend Forms GST EWB-01, EWB-02, EWB-03, EWB-04, GST INV-1, GST RFD-01A, etc.
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CBEC withdraws the reduction in late fees for GSTR-5A with effect from 7th March 2018. This means that the late fees to be paid by taxpayers for late-filing of GSTR-5A now stands at a total of Rs. 200 per day of delay (Rs. 100 per day of delay for NIL return) subject to the maximum cap in the late fees at Rs. 5,000. A lower late fee of either Rs. 25 per day or Rs. 10 per day was being levied under the earlier notification.
GSTR-5A is to be filed by Non-resident online information and data base access or retrieval (OIDAR) service providers.
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The CBDT has notified the Centralized Communication Scheme, 2018. The said Scheme contains provisions for the electronic issuance of notices to taxpayers and prescribes the format in which the information and documents have to be furnished.
The notices to taxpayers will be issued by the centralized communication centre under Section 133C of the Income-tax Act, 1961 through email or by placing a copy in the registered account on the portal, followed by intimation by short messaging service (SMS).
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The revised form of application for registration of Trusts u/s 12A in Form 10A has been notified. This is applicable to all other forms of charitable institutions viz., society, firm or Section 8 Company.
The key changes are as under:

  • (i)    E-Mail of the Managing Trustee/Chairman/Managing Director/Any authorized person is required mandatorily.
  • (ii)   In case of Charitable and Religious cum Charitable trusts, out of the eight following objects, at least one object has to be specified mandatorily:
    • Religious
    • Education
    • Relief for the poor
    • Medical Relief
    • Yoga
    • Preservation of Monuments or Places or Objects of Artistic or Historic interest
    • Preservation of Environment (including watersheds, forests and wildlife)
    • Advancement of other objects of general public utility
  • (iii)   Details of Existing Registration u/s 12A
  • (iv)   Date of Modification of Objects
  • (v)    If the trust deed contains clause that the trust is irrevocable
  • (vi)   Details of application rejected in the past if any
  • (vii)  Details of registration under FCRA, 2010, if any


Note: The contents of this Newsletter are only a summary and has not dealt with any issue in detail. Any action taken or proposed to be taken must be in consultation with professionals and not merely based on the articles / news updates. S. C. Sharada & Associates disclaims all liability on action taken without professional advice.
 


S. C. Sharada & Associates, Company Secretaries. #405, 7th Cross, IV Block, Koramangala, Bangalore – 560 034
sharadasc.com Phone : +91 80 25534374 , +91 80 25536618 Email: [email protected]

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