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Jan20

SEBI TO FOLLOW NEW FORMAT FOR ITS ANNUAL REPORT WITH SOURCE OF INCOME, EXPENDITURE INCLUDED

Markets regulator Sebi will follow a new format for its annual report as part of efforts to have a “true and full account” of its activities, policies and programmes during a financial year, according to a notification. Markets regulator Sebi…

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Jan20

SEBI: CLARIFIES ON CHANGE IN CONTROL BY TRANSFER/TRANSMISSION OF SHAREHOLDINGS FOR MARKET INTERMEDIARIES

SEBI issues clarifications w.r.t. transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control for market intermediaries; Lays down scenarios whereby change in shareholding of the intermediary will not be construed as change…

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Jan20

MCA New Updates in respect of Compliances under Companies Act

Mandatory use of Accounting Software having Audit Trail From FY commencing on 01.04.2021, every Company shall use Accounting Software having feature to record audit trail of each transaction, creating the edit log of changes made & ensuring that the audit…

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Jan20

MCA New Updates in respect of Compliances under Companies Act

Mandatory use of Accounting Software having Audit Trail From FY commencing on 01.04.2021, every Company shall use Accounting Software having feature to record audit trail of each transaction, creating the edit log of changes made & ensuring that the audit…

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Jan20

ANNUAL GENERAL MEETINGS, EXTRAORDINARY GENERAL MEETINGS MAY GO VIRTUAL PERMANENTLY

The government could make virtual board meetings, annual general meetings (AGMs) and extraordinary general meetings (AGMs) a permanent feature. It is considering such a proposal and suitable changes could be made to the Companies Act, a government official said. The…

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Jan20

NON-FATF AREA INVESTORS CAN’T HAVE ‘SIGNIFICANT INFLUENCE’ IN NBFCS: RBI

The Reserve Bank on Friday said investors from non 'Financial Action Task Force' complaint jurisdictions can only hold less than 20 per cent of the voting power in India-based NBFCs. The Financial Action Task Force (FATF) periodically identifies jurisdictions with…

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Jan20

SELECT CLASS OF UNLISTED FIRMS NEED TO FILE RESULTS WITH ROC

Move will enable early fraud detection, ensure statutory compliance The Centre has moved a step closer towards making certain unlisted companies prepare financial results on a periodical basis, operationalising a provision in company amendment law enacted in September last year.…

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Jan20

WITH THE NEW TDS RULE, EVERY TIME YOU MAKE A PAYMENT, YOU MUST ASK IF THE RECEIVER HAS FILED TAX RETURNS IN LAST TWO YEARS

“Suppose you are making payment to a contractor. And, when you’re getting the work executed, you’re supposed to deduct TDS at 2% — that’s the normal rate. If I made a payment of ₹ 1 crore, I deducted TDS of…

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