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Author of the Blog is trying to spread awareness about when you should save and when should you not save the money. Author is having rich experience in the field of Finance, Legal, Secretarial, IPR etc.

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Finance Bill 2017 Proposed a New Section - 234F regarding Fee for delay in filing of Income Tax Return

In view of the non-intrusive information-driven approach for improving tax compliance and effective utilization of information in tax administration, it is important that the returns are filed within the due dates specified in section 139(1). Further, the reduced time limits proposed for making of assessment are also based on pre-requisite that returns are filed on time. In order to ensure that return is filed within due date, it is proposed to insert a new section 234F in the Act to provide that a fee for delay in furnishing of return shall be levied from the assessment year 2018-19 and onwards in a case where the return is not filed within the due dates specified for filing of return under sub-section (1) of section 139. The proposed fee structure is as follows:—      i.           i. A fee of Rs. 5000 shall be payable, if the return is furnished after the due date but on or before the 31 December of the assessment y...
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Dematerialization of Securities by Unlisted Company

 Gone are the days of Physical Securities! ( By CS Mallika Tayal)   Dematerialization of Securities: (Section 29 of the Companies   Act, 2013) In order to enhance transparency in ownership at  C orporates, curb benami transactions and to make the framework free from loopholes Ministry is coming up with many drives these days through different initiatives, may it be striking off of companies under section 248(1) and (2), disqualification of directors under section 164(2)(a) or the latest KYC updates of Directors. What is the Concept of Dematerialization? Dematerialization, or demat, in a very simple language involves conversion of the physical stocks into electronic form. Scope of Dematerialization: Till now, Dematerialization of Shares was a mandatory requirement for a listed entity to have its entire promoter shareholding and non-promoter shareholding in demat form but after...
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Guidelines for Name Approval in India

Approval of Name pursuant to Section 4 (2) & 4(4) to be read with Rule 8 & 9 of the Companies (Incorporation) Rules 2014 Issues: 1.        How to decide a relevant Name? 2.        How to get the decided name approved in one go? The above two questions have become a major task these days. To get rid of these issues, following steps must be kept in mind: Solution: First of all, we must know how to decide a name within the regulatory framework. 1.        The name must not be registered under any trademark class. Check on MCA in trademark classes. 2.        Such name must not be similar or identical to any existing name as provided under section 4(2) of the Companies Act 2013 read with rule 8 of the Companies (Incorporation) Rules 2014 (Annexure-A) . 3.        The name shall be able to describe the object of the com...
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