4,32,796 companies struck off down during last five years (MCA Press Release 08 Aug 2022)

Section 248 of the Companies Act, 2013 (the Act) provides for removal of name of company from the Register of companies, if it is not carrying on any business or operation for a period of 2 immediately preceding financial years and has not made any application within the said period for obtaining the status of … Continue reading 4,32,796 companies struck off down during last five years (MCA Press Release 08 Aug 2022)

IBBI disposes off 6,172 complaints and grievances out of 6,231 against service providers under IBC (MCA Press Release 08 Aug 2022)

The Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017 enable stakeholders to file a grievance or a complaint against service providers under the IBC. This was stated by the Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Lok Sabha … Continue reading IBBI disposes off 6,172 complaints and grievances out of 6,231 against service providers under IBC (MCA Press Release 08 Aug 2022)

Income Tax Department conducts searches in Mumbai on an ex-fund manager and chief trader of equities of a prominent mutual fund house along with related sharebrokers, middlemen and entry operators (Press release 05 Aug 2022)

The Income Tax Department carried out a search and seizure operation on 28.07.2022 on an ex-fund manager and chief trader of equities of a prominent mutual fund house along with related sharebrokers, middlemen and entry operators. The search action covered more than 25 premises, spread across Mumbai, Ahmedabad, Vadodara, Bhuj and Kolkata. As a result … Continue reading Income Tax Department conducts searches in Mumbai on an ex-fund manager and chief trader of equities of a prominent mutual fund house along with related sharebrokers, middlemen and entry operators (Press release 05 Aug 2022)

Income tax raid on prominent business engaged in conglomerate business in Gujarat (Press release 02 Aug 2022)

The search action has resulted in unearthing unaccounted transactions exceeding Rs.1000 crore. So far, unaccounted cash of Rs. 24 crore and unexplained jewellery, bullion etc. valued at Rs. 20 crore have been seized during the course of search. The Income Tax Department carried out a search and seizure operation on 20.07.2022 on a prominent business … Continue reading Income tax raid on prominent business engaged in conglomerate business in Gujarat (Press release 02 Aug 2022)

Various communication and outreach initiatives to spread financial and tax literacy awareness among masses (Press release 01 Aug 2022)

The Government has launched a series of communication and outreach products aimed at spreading financial and tax literacy awareness among masses. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha today. The Minister stated that the following communication and outreach campaigns … Continue reading Various communication and outreach initiatives to spread financial and tax literacy awareness among masses (Press release 01 Aug 2022)

1,67,080 companies registered in FY 2021-22 as compared to 1,55,377 in FY 2020-21 II 43,050 LLPs registered during FY 2020-21 as compared to 42,187 in the previous year (Press release 01 Aug 2022)

Limited Liability Partnership (LLP) and Companies are incorporated under the Ministry of Corporate Affairs as per the provisions of LLP Act, 2008 and Companies Act, 2013. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Lok Sabha today. Giving more details, … Continue reading 1,67,080 companies registered in FY 2021-22 as compared to 1,55,377 in FY 2020-21 II 43,050 LLPs registered during FY 2020-21 as compared to 42,187 in the previous year (Press release 01 Aug 2022)

₹1,48,995 crore gross GST revenue collected in the month of July 2022 (Press release 01 Aug 2022)

₹1,48,995 crore gross GST revenue collected in the month of July 2022  GST Revenue collection for July second highest ever & 28% higher than the revenues in the same month last year Posted Date:- Aug 01, 2022 The gross GST revenue collected in the month of July 2022 is₹1,48,995 crore of which CGST is ₹ 25,751 crore, … Continue reading ₹1,48,995 crore gross GST revenue collected in the month of July 2022 (Press release 01 Aug 2022)

Income Tax raid on a group engaged in agro and textile business, and another group of entry operators in Mumbai (Press Release 26 July 2022)

Income Tax Department carried out a search and seizure operation on 05.07.2022 on a group engaged in agro and textile business, and another group of entry operators. A total of 27 premises were covered during the search action in Mumbai and Delhi NCR. During the course of the search operation, a large number of incriminating … Continue reading Income Tax raid on a group engaged in agro and textile business, and another group of entry operators in Mumbai (Press Release 26 July 2022)

163rd Income Tax Day: A journey towards Nation Building (24 July 2022)

The 163rd anniversary of Income Tax Day was observed by Central Board of Direct Taxes (CBDT) and all its field offices across India today. As part of the celebrations, the field formations held a number of events and activities. The events by the field formations included outreach programmes for taxpayers recognising their contribution to the … Continue reading 163rd Income Tax Day: A journey towards Nation Building (24 July 2022)

MCA is launching first set of Company Forms on MCA21 V3 portal effective from 31st Aug 2022

MCA is launching first set of Company Forms on MCA21 V3 portal effective from 31st Aug 2022. Following forms will be rolled-out in this phase: DIR3-KYC Web, DIR3-KYC Eform, DPT-3, DPT-4, CHG-1, CHG-4, CHG-6, CHG-8 & CHG-9. To facilitate implementation of these forms in V3 MCA21 portal, stakeholders are advised to note the following points: … Continue reading MCA is launching first set of Company Forms on MCA21 V3 portal effective from 31st Aug 2022

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