Easy Exit Scheme, 2011
ESS is back again but with a filing fee of Rs. 3,000 and filing window of only 30 days. MCA has reintroduced this scheme from 1st January, 2011 to 31st January, 2011 to enable inoperative companies to shut down expeditiously.
Tightening grip on money laundering
‘Horse trading’ in politics has come into common parlance. But have you heard of
‘money mule’ RBI has instructed Banks to strictly adhere to Know Your Customer (KYC) norms to minimize the operations of
“Money mules”. To know who / what is a money mule, read RBI notification.
Clarification from CBDT on TDS claims
CBDT has issued clarification regarding processing of ITR-1 (For Individuals having Income from Salary
/ Pension / Income from One House Property etc.) and ITR-2 (For Individuals and HUFs
not having Income from Business or Profession)
returns. These taxpayers’ TDS claims shall be accepted at the time of processing of the returns if it does not exceed Rs. four lakhs (now increased from three lakhs) and where the refund computed does not exceed Rs. Twenty five thousand.
Title to Immovable Property
Ms. Jayashri Murali, Advocate has penned an article which provides the broad parameters required to be noted by the purchaser prior to proceeding with the proposed purchase of the immoveable property.
Section 212 of the Companies Act, 1956
At present it is difficult for the Indian Companies having foreign subsidiaries to comply with the provisions of Section 212. On implementation of IFRS (International Financial Reporting Standards) it is hoped that compliance with the said provisions will be easier. Mr. Vivek Hegde, PCS shares his views on the subject.
Buyback of shares in Private Limited Companies
Mr. Vivek Hegde, PCS and Mr. Prabhat Joshi give an overview of the provisions of the Companies Act, 1956 and FEMA in respect of buy back of shares by a private limited company.