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Hi Folks
A few days back my friend called me with a strange request. He said “I don’t know why this lady feels I can answer her but am sure you can. Can I share your number with her ? Can you please take her call ?” No sooner had I disconnected, than I got a call from one Mrs. MK. She was very anxious and confused. She was an artist with her own studio and was my friend’s customer, sourcing her art materials from his store. She didn’t know him all that well but something in him gave her the confidence that he could guide her properly. Well, my friend himself didn’t think so because the question was about cancer treatment. He promptly directed Mrs. MK to me, confident that I should be able to boost her confidence. Mrs. MK had completed her breast cancer surgery and was to start her chemotherapy the next day. And here she was asking a complete stranger like me “Ma’am please guide me if I should go in for the chemo or skip it ? I am totally confused since some people are asking me to go ahead while my children and a few others are saying it has too many side effects and is not required. In any case surgery is done and you are in advanced stage, what use is chemo ? I am in a dilemma. Will I lose my hair ? where will I get a wig ? can I continue with my studio ? will I lead a normal life thereafter ?” She had the typical questions and anxiety as I could make out from her voice. I allayed her fears and assured her that she must go by her doctor’s advice and not by what others say. While chemo has its side effects, she must not find short-cuts and avoid the treatment. Since the reply came to her from a cancer survivor (leading a normal life since the last 5 years) who had gone through the pain and was speaking from first hand experience, she seemed to have bought my words. At the end of the call, she sounded more certain, less confused and more confident to go ahead with her next round of treatment. She trusted me since she knew I had been on a similar journey before her and would only wish her well, as a ‘senior-comrade’.
I felt happy that I gave hope and courage to a total stranger. Fear of Suffering had turned to Power of Suffering. Yes, I felt suffering empowers us because we can relate to it better, if we have survived some crises in life – be it illness, be it financial, be it emotional. We can bring conviction and credibility to what we say. And offer succour and hope through words and deeds. If a mere phone call can help someone take a life-impacting decision, just imagine what power we have within us to reach out to others as a group. In this regard, headquartered in Bangalore, Pink Hope Support is a cancer survivor’s group working closely with patients and caregivers in many different ways across cities. Pink Hope Connect is a monthly programme involving talks and activities around cancer open to all. Last Saturday, as part of the Childhood Cancer Awareness Month (September), we had a talk by a leading paediatric oncologist, Dr. Intezar Mehdi of HCG, aptly titled “Let it go, Let it fly”. Many parents and children (survivors leading normal life) spoke as well. Let me share some key takeaways :

– Don’t waste time shopping for doctors

– Seek help. Don’t disconnect from outside world. Share. Talk to positive people.

– Don’t google. Be part of a group.

– Yoga does wonders

– Don’t ask ‘why’. Ask ‘How’. In childhood cancer cases, rest assured “Nothing I could have done to prevent”. Answer is UNKNOWN. Answer lies in how to treat.

– 70% of childhood cancer is cured. They need normal lives thereafter.

– Children’s open mind reinforces a positive attitude. They cure faster.

– Live your today. Don’t worry about recurrence.

Dear readers, you can choose what you want to from the above. Not all are cancer-specific. But they are ‘Hope-specific’ ! It pays to talk to people that have been there, done that. Yes, when through Samhita, we emphasise certain timelines and compliances, we talk out of experience – both good and bad. Just so that you are aware, alert and act. Do read through this 197th issue for several such amendments. A long pending issue regarding LLP incorporation has been resolved. Don’t miss going through that.

For any previous issues of Samhita and the readers feedback, please visit
https://sharadasc.com/resource-center/

Happy Reading

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DIN (Director Identification Number) holders whose DIN has been marked as ‘Deactivated due to non – filing of DIR-3 KYC’, may reactivate the same by filing the form with a fee of Rs. 500 from 21st September to 5th October, 2018. An increased fee of Rs. 5000 shall be applicable for reactivation of DIN from 6th October, 2018.

Companies (Registration Offices and Fees) Fifth Amendment Rules, 2018 and Companies (Appointment and Qualification of Directors) Sixth Amendment Rules, 2018 have been notified to enable the above extension of time.


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Effective 19th September, 2018, following changes have been made to CSR provisions vide S. 37 of the Companies (Amendment) Act, 2017(corresponding S.135 of CA, 2013) and Companies (Corporate Social Responsibility Policy) Amendment Rules, 2018 :

– ‘Any financial year’ has been replaced with ‘immediately preceding financial year’ clarifying the applicability.

– The words ‘areas and subjects’ have been inserted along with ‘activities’ wherever the latter appears, expanding the scope of CSR activities.

– ‘Any company’ which is not required to appoint an Independent Director under the CA, 2013 shall have its CSR committee without such director as opposed to only ‘an unlisted public company and or a private company’ previously. However, the committee must have a minimum of 2 directors.

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➢ Time available for obtaining Certificate of Registration from Registered Valuers Organization (RVO) has been extended from 30th September, 2018 to 31st January, 2019
➢ 3 more months’ time is available for valuers who have taken up valuation assignments before 31st January, 2019.
➢ Time available for valuer organizations functioning as Trusts and Societies to convert into S.8 Company under CA, 2013 has now been increased from 1 year to 2 years.
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– These rules shall be effective from 2nd October, 2018.

– A new form RUN-LLP and FiLLiP for name availability and Incorporation of a LLP respectively are introduced.

– The forms for Application for reservation or change of name, Incorporation document and Subscriber’s statement, Notice for change of name, Application and statement for the conversion of a firm into LLP, Application and Statement for conversion of a Private Company/Unlisted Public Company into LLP shall be processed by Registrar, Central Registration Centre for and on behalf of the jurisdictional Registrar.

Since January, 2018 allotment of DIN for LLP partners was suspended by MCA without any reasons and timelines. Despite many representations made and queries raised there was no clarity on when it would be revived. At last, through this ‘Re-engineered’ incorporation process, issue of DIN for LLP partners has been made possible. Wonder whether it was the technology or the legal provisions that required re-engineering ??!!

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The Insolvency and Bankruptcy Board of India (IBBI) has clarified an issue raised that whether a financial creditor, who is not yet admitted as a member of the Committee of Creditors (CoC), would be considered a dissenting or abstaining financial creditor. For details refer the attached circular.

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As already carried in the previous issue of Samhita, all unlisted public companies and their shareholders have to move from physical shares to DEMAT form w.e.f 2nd October,2018. NSDL which facilitates DEMAT securities has reduced the joining fees for unlisted issuers of securities (unlisted public and private companies) to Rs. 15,000 and a new slab is introduced for annual custody fee of Rs. 5,000 for nominal value of securities admitted upto Rs. 2.5 crores.

Joining fee for listed companies has also been reduced from Rs. 30,000 to Rs. 20,000.

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The due date for filing of income tax returns and audit reports for all assesses liable to file IT returns pertaining to AY 2018-19 is extended from 30th September, 2018 to 15th October, 2018. It is clarified that this relaxation is only with respect to filing of returns and not with respect to payment of tax. Interest will continue to be levied if assesses that need to pay Income Tax, file their returns after 30th September, 2018.

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CBIC has notified the rate of tax collection at source (TCS) to be collected by every e – commerce operator for intra-state taxable supplies as 0.5 % of the net value of intra-State taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the said operator.

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Charitable entities registered under section 12AA of the IT Act, 1961 providing services for advancement of Religion, Yoga and Spirituality are exempt from GST. However, if such entities merely serve food and drinks or provide accommodation or conduct fitness camps, music and dance classes, fees charged for the same shall not be exempt from GST.

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The time limit for submitting declaration in form GST TRAN-1 has been extended until 31st January, 2019 for the class of registered persons who could not submit the said declaration by the due date on account of technical difficulties on the common portal and whose cases have been recommended by the Council.

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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