MCA_Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)

CCFS-2026 is a one-time opportunity for companies to regularize delayed filings, opt for dormancy, or strike off at significantly reduced fees, with conditional immunity from penalties Validity: 15.04.2026 to 15.07.2026.One-time opportunity to help companies: File pending Annual Returns and Financial Statements in the MCA-21 registry. Apply for dormancy status or closure/striking off of the company.The scheme aims to: Improve compliance levels. Ensure the corporate registry reflects accurate and up-to-date information. Allow inactive or defunct companies to regularize their status at reduced fees.Companies or inactive companies can: File pending annual returns/financial statements• Pay only 10% of the total additional fees for delays. Obtain dormant company status under Section 455•...

22 May

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Amendment in file format to submit TDS statement for Form 24Q Quarter 4 and changes in Part B of Form 16

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in CORPORATE LAW, INCOME TAX, NRI, INTERNATIONAL TAXATION, Uncategorized

Dear Sir / Madam, As you may be aware, the Income Tax Department has, through, Notification No. 36/2019 dated 12.04.2019 recently made certain changes in Form 24Q Quarter 4 and Part B of Form 16. The revised format is applicable with effect from May 12, 2019 onwards. All the deductors are requested to download the new free versions of RPU and FVU software from TIN website: https://www.tin-nsdl.com/downloads/e-tds/eTDS-download-regular.html. Kindly find the attached new format of Form 16 and Form 24Q and the notification for your reference. Part B (Annexure) Details of Salary Paid and any other income and tax deducted 1. Gross Salary (a) Salary as per provisions contained...

21 January

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Mandatory requirement of implementing Internal Financial Controls for all Companies

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in CORPORATE LAW, Uncategorized

Companies Act, 2013 has introduced a new requirement for listed companies and also all other companies making the Board of Directors (Sec 134), Audit Committee (Sec 177) and Independent Directors (Sch. IV) responsible for laying down internal financial controls (IFC) and to conform on adequacy and operating effectiveness of the framework for IFC. The revised guidance note issued by the ICAI recently have also extended the requirement of opinion from the external auditors to the consolidated financial statements, thereby emphasizing the focus required on completing the management design and testing across all companies within a group. These provisions are applicable for the Financial...

21 January

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Amendment to the Payment of Bonus Act, 1965

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in CORPORATE LAW, INCOME TAX, NRI, INTERNATIONAL TAXATION, Uncategorized

Dear Mr. T S Shankar Deepa, The Payment of Bonus (Amendment) Act, 2015 received the assent of the President on 31st December 2015. The Amendment Act shall be deemed to have come into force on 01st April, 2014 i.e. with retrospective effect. The major changes brought in by the amendment are as follows: Existing position Amendments Impact Employees eligible for bonus As per Section 2(13) of the Act, ‘employee’ means a person (other than apprentice) employed on salary or wages not exceeding INR 10,000 per month. The limit of INR 10,000 per month is increased to INR 21,000 per month. More number of employees brought into the ambit of...

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MCA_Companies Compliance Facilitation Scheme, 2026 (CCFS-2026)

Amendment in file format to submit TDS statement for Form 24Q Quarter 4 and changes in Part B of Form 16

Mandatory requirement of implementing Internal Financial Controls for all Companies

Amendment to the Payment of Bonus Act, 1965

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