1. No Additional Fees for late filing (April 1, 2020 – Sep 30, 2020)
2. Holding Board Meeting – Relaxation by 60 days till next 2 quarters
3. CARO 2020 – Applicable from FY 2020-21 not from 2019-2020 (as earlier decided)
4. ID Meeting not held in 2019-20 – No non-compliance
5. Newly Incorporated Companies – For filing commencement of business – extended by 6 months
6. If any director does not satisfy the minimum residency requirement – No violation now
7. Deposit Redemption Reserve – Extended till June 30, 2020
8. Debentures Redemption Reserve – Extended till June 30, 2020 (Investment of 15% Amount).
9. Suspension of section 7/9/10 of IBC may be considered if the current situation continues till 30th April so that co may be stopped from being forced into insolvency proceedings.
10. IBC: Threshold for default raised from 1 Lac to 1 crore.
Latest Updates
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- Highlights and Updates from the 55th GST Council MeetingHighlights and Updates from the 55th GST Council Meeting The 55th GST Council meeting, held on December 21, 2024, in Jaisalmer, Rajasthan, was chaired by the Union Finance Minister. Attendees included the Union Minister of State for Finance, several Chief and Deputy Chief Ministers, State Finance Ministers, and senior officers from […]
- A Guide to Belated Returns, Revised Returns, and ITR-UA Guide to Belated Returns, Revised Returns, and ITR-U Filing Income Tax Returns (ITR) is a crucial responsibility for taxpayers in India. As the year nears its end, December 31, 2024, is the final date to submit belated and revised returns for the financial year 2023-24 (assessment year 2024-25). This guide […]
- Bombay High Court Directs CBDT to Extend E-Filing Deadline; Upholds Section 87A Rebate as a Fundamental RightBombay High Court Directs CBDT to Extend E-Filing Deadline; Upholds Section 87A Rebate as a Fundamental Right In a landmark decision, the Bombay High Court has directed the Central Board of Direct Taxes (CBDT) to extend the deadline for filing income tax returns (ITRs) from December 31, 2024, to January 15, 2025. This decision comes […]
- Mandatory Multi-Factor Authentication for E-Way Bill and E-Invoice Generation from April 2025Mandatory Multi-Factor Authentication for E-Way Bill and E-Invoice Generation from April 2025 Starting April 1, 2025, the use of Multi-Factor Authentication (MFA) will become mandatory for all GST-registered taxpayers accessing the updated E-Way Bill and E-Invoice systems. This initiative, as announced in an advisory on the GST portal, aims to bolster […]