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Operating as usual

Learning is the only thing the mind never exhausts, never fears, and never regrets....#befocused#studytime#studyhard #Sh...
10/10/2020

Learning is the only thing the mind never exhausts, never fears, and never regrets....

#befocused
#studytime
#studyhard
#ShapingTheFuture
#december2020examinations
#csprofessional

Further Extension in various timelines by MCA amidst COVID-19 impact!
28/09/2020

Further Extension in various timelines by MCA amidst COVID-19 impact!

Time for some action!#ShapingTheFuture#December2020examinations#CSProfessional
28/09/2020

Time for some action!

#ShapingTheFuture
#December2020examinations
#CSProfessional

Stamp Duty reduced by 2% by Maharashtra Government in real estate sector#talklaws#legalupdate#corporatelaws#COVID19
26/08/2020

Stamp Duty reduced by 2% by Maharashtra Government in real estate sector
#talklaws
#legalupdate
#corporatelaws
#COVID19

FSSAI ORDER DATED 24TH AUGUST, 2020*WAIVING OFF THE PENALTIES DURING COVID-19 PANDEMIC PERIOD DUE TO NON SUBMISSION OF A...
26/08/2020

FSSAI ORDER DATED 24TH AUGUST, 2020

*WAIVING OFF THE PENALTIES DURING COVID-19 PANDEMIC PERIOD DUE TO NON SUBMISSION OF ANNUAL/HALF-YEARLY RETURNS BY FOOD BUSINESSES IN PREVIOUS YEARS*

With reference to order dated 24th August, 2020, the Authorities has decided not to count the period of 22nd March, 2020 to 31st December, 2020 for further accumulation of penalties due to non-submission of returns of previous years.

Please find below link for FSSAI Order-
https://fssai.gov.in/upload/advisories/2020/08/5f44bf93ebfabOrder_WaivingOFF_Penalties_Returns_25_08_2020.pdf

#fssailegalupdate
#COVID19
#relaxationinpenalties
#talklaws

श्री गणेश चतुर्थी की हार्दिक शुभकामनाएं !!
22/08/2020

श्री गणेश चतुर्थी की हार्दिक शुभकामनाएं !!

20/08/2020

Being different makes us beautiful
#CommittedToDeliver
#committedtoserve

15/08/2020
Your #opportunity to fast-track your way up the corporate ladder is about to end soon. Last few months left for the next...
09/08/2020

Your #opportunity to fast-track your way up the corporate ladder is about to end soon. Last few months left for the next attempt of CS Professional exam
#ShapingTheFuture
#CSProfessional
#December2020examinations

Unravel the mystery of MCS pattern & learn to unlock with online classes .#ShapingTheFutureFuture#CSProfessional#Decembe...
29/07/2020

Unravel the mystery of MCS pattern & learn to unlock with online classes .

#ShapingTheFutureFuture
#CSProfessional
#December2020Examinations

29/07/2020
For the first time in Lucknow deliberations over "Multidisciplinary  Case Laws" by TalkLaws Classes #ShapingTheFuture#CS...
24/07/2020

For the first time in Lucknow deliberations over "Multidisciplinary Case Laws" by TalkLaws Classes

#ShapingTheFuture
#CSprofessional December 2020 Exams

22/07/2020
I bow to the Universe!!And seek your blessings!!#ShapingTheFuturePlease spread the word🙏🏿
20/07/2020

I bow to the Universe!!

And seek your blessings!!

#ShapingTheFuture

Please spread the word🙏🏿

It is an incomparable journey where the *Guru* leads you from the visible to the invisible, from the material to the div...
05/07/2020

It is an incomparable journey where the *Guru* leads you from the visible to the invisible, from the material to the divine, from the ephemeral to the eternal.

*TALKLAWS wishes all the People for being there for us, thank you for teaching so many things every day! We’re so blessed to have you in our lives*🙌🏽

24/05/2020
As per the norification of GOI there shall be non levy of penalty for delayed deposit of PF dues during this COVID perio...
15/05/2020

As per the norification of GOI there shall be non levy of penalty for delayed deposit of PF dues during this COVID period. This relief has been extended keeping in view of rhe distress being faced by the establiahments

Possibility of interest waiver on COVID 19 impacted period!!
08/05/2020

Possibility of interest waiver on COVID 19 impacted period!!

07/05/2020
MCA Update: on independent directors Databank registrationMCA has issued Companies (Appointment and Qualification of Dir...
29/04/2020

MCA Update: on independent directors Databank registration

MCA has issued Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020.

Registration of details of Independent Directors in ID Data Bank is further deferred by two months.

CBDT takes further steps to ease compliance for taxpayers due to COVID-19 pandemic.Vide order u/s 119 of IT Act, 1961 in...
28/04/2020

CBDT takes further steps to ease compliance for taxpayers due to COVID-19 pandemic.
Vide order u/s 119 of IT Act, 1961 in Circular No.10/2020 dt 24/04/2020, the reporting under clause 30C & 44 of Tax Audit Report shall be kept in abeyance till 31st March, 2021.

RBI infuses 50000 cr. Liquidity facility for mutual funds
28/04/2020

RBI infuses 50000 cr. Liquidity facility for mutual funds

Revised due dates for compliance calender by NSE for quarter, half year and financial year ended on March 31, 2020
18/04/2020

Revised due dates for compliance calender by NSE for quarter, half year and financial year ended on March 31, 2020

CSR UPDATEThe ministry of corporate affairs has issued a FAQ over the expenditure on COVID 19 and its eligibility as CSR...
10/04/2020

CSR UPDATE

The ministry of corporate affairs has issued a FAQ over the expenditure on COVID 19 and its eligibility as CSR Expenditure. Important position is

If any ex-gratia payment is made to temporary / casual workers/ daily wage workers over and
above the disbursement of wages, specifically for the purpose of fighting COVID 19, the same shall be admissible towards CSR expenditure as a one-time exception provided there is an explicit declaration to that effect by the Board of the
company, which is duly certified by the statutory auditors

08/04/2020

Refunds of Income Tax and GST and Customs Duty announced

Amidst COVID-19 impact, the Income Tax Department has announced a big relief to the taxpayers. Income Tax pending refunds upto Rs. 5 lakh will immediately be released to the taxpayers, be it Individuals or Corporates or other Entities. It is expected to benefit about 14 lakh taxpayers.

These refunds shall act as a big relief when the Individuals are waiting for their salaries and presently facing cash crunch due to loss of jobs.

The Income Tax Department has announced to release the pending GST and Customs refunds too which is expected to benefit about 1 lakh entities.

Let's Talk
For a deeper insight into the matter as to how it can effect your business, please consult the writer.

TALKLAWS
Tanu Agarwal

RBI notifies changes in timing for money markets; #moneymarket to trade from 10 am-2 pm from April 7-17. As of now money...
03/04/2020

RBI notifies changes in timing for money markets; #moneymarket to trade from 10 am-2 pm from April 7-17. As of now money market operations happen between 9 am to 5 pm. However, no change in #StockMarket timing.
https://t.co/xiJG5Ekwog

02/04/2020
PM CARES FUND QUALIFIES FOR CSR OBLIGATIONN OF CORPORATES
29/03/2020

PM CARES FUND QUALIFIES FOR CSR OBLIGATIONN OF CORPORATES

25/03/2020
www.mca.gov.in

Update : Ministry of corporate Affairs

Relaxation in various compliance requirements under the Companies Act 2013

MCA issues a circular relaxing the compliance requirements as a measure to reduce the compliance pressure during the time of distress. The major relaxation is non applicability of additional fees on delayed returns. This relaxation is applicable irrespective of date of the instrument till 30th september 2020. Through this MCA gives an opportunity to companies to make good of its non compliance with out additional costs. The other relaxations are also provided. The link to this. Circular is as attached

http://www.mca.gov.in/Ministry/pdf/Circular_25032020.pdf

MCA update:Ministry of corporate affairs issues a order for closure of its offices for 21 days wef. 25th March 2020.
25/03/2020

MCA update:
Ministry of corporate affairs issues a order for closure of its offices for 21 days wef. 25th March 2020.

24/03/2020

COVID 19- IMPACT
KEY HIGHLIGHTS FOR RELIEF IN FINANCIAL SECTORS AND RETURN DUE DATES

Ministry of Corporate Affairs

Requirement to hold mandatory board meetings relaxed for 60 days for next two quarters

The government on Tuesday, 24th March 2020 , said that the mandatory requirement of holding
board meetings is being relaxed by a period of 60 days till next two quarters i.e 30.09.2020.

Extra 6 months given to newly incorporated firms to file declaration

The finance ministry announced that for newly incorporated companies, there is a requirement to
file declaration on commencement within six months, which has been extended by additional
six months to file their returns. Thus, the newly incorporated companies have been given a time
of one year to file their Commencement of Business Return.

Minimum Residency requirement not applicable for this Financial Year

Nirmala Sitharaman also said that If there was a company director who does not comply
with the minimum residency requirement, it shall "not be treated as a violation."

Applicability of CARO 2020 with effect from 2020-2021 instead of 2019-2020

The finance minister Nirmala Sitharaman also said that the applicability of The Companies
Auditors’ Report Order 2020, which was supposed to have come into force in 2019-20, has
been shifted to 2020-21.

No late filing fees imposed from 01.04.2020 to 30.09.2020

No additional fees shall be charged for any document, return, statement etc. required to be
filed with MCA-21.

No violation if Independent Directors Meeting not held during the FY 2019-2020

As per the regulatory requirements even if no meeting of the Independent Directors had been
held during FY 2019-2020 , it shall not be considered as a violation.

Deposit reserve of 20% of Deposits maturing on 30.04.2020 be extended to 30.06.2020

The Deposits which were due for maturity on or before 30.04.2020 for which a deposit reserve
of 20% had to be created has been extended for compliance till 30.06.2020.

Requirement of 15% investment in specified securities of deposits maturing on 30.04.2020
be extended to 30.06.2020

Requirement to invest in 15% of debentures maturing during a particular year in specified
instruments before 30.04.2020 may be done before 30.06.2020

CUSTOM & CENTRAL EXCISE

Customs clearance will operate 24x7 till 30 June, says FM

In a major relief to imports/exporters, the government on Tuesday, 24th March 2020 , said that
customs clearance is now an essential service, till 30 June, 2020 and it will be working 24/7.

Payment under ‘Sabka Vishwas’ scheme extended to 30 June

The government announced on Tuesday, 24th March 2020 that payment date under
the ‘Sabka Vishwas’ scheme, which was for settling disputes in the indirect tax regime,
has been extended till 30 June 2020.

GOODS AND SERVICE TAX

No interest, penalty for firms with less than Rs 5 cr turnover

The finance minister announced on Tuesday, 24th March 2020 that there is no interest, no penalty
and no late fee will be charged for companies with a turnover of less than Rs 5 crore. The minister
said that the interest rate for such companies is reduced to 9 percent.

She added that only interest will be applicable, but no late fee and no penalty for bigger companies

Last date of filing GST returns extended to 30 June

The last date for filing March, April and May 2020 GST returns is being extended to 30 June 2020,
said Nirmala Sitharaman during the media conference on Tuesday, 24th March 2020 , 2020 .
She added that different staggering dates will be applicable, but all will be the end of June.
The interest rate for filing a delayed return has also been brought down to 9%

Aadhar Card-Pan Card linking last date extended to 30 June, says Nirmala Sitharaman

The finance minister announced on Tuesday, 24th March 2020 that the Aadhaar-PAN linking date
has been extended to 30 June 2020 from what was 31 March 2020.

INCOME TAX

Interest rate on delayed deposit of TDS reduced
Nirmala Sitharam also said that the Interest rate on delayed deposit of TDS reduced.
She said, "No extra 10 percent interest will be charged between now and 30 June."

Last date to file I-T returns extended to 30 June

The last date for income tax returns for the financial year 2018-19 is extended from
31 March to 30 June, announced Nirmala Sitharaman on Tuesday, 24th March 2020 .
She added that for the delayed payments, interest rate has been reduced from 12 percent
to 9 percent.


She said, "No extra 10 percent interest will be charged between now and 30 June."

INSOLVENCY AND BANKRUPTCY CODE

Threshold for default extended to Rs 1 crore, says FM

Nirmala Sitharaman on Tuesday, 24th March 2020 announced that the threshold of default
extended to Rs 1 core from existing Rs 1 lakh, in order to prevent insolvency proceedings
against MSMEs Insolvency and Bankruptcy Code.

Govt might suspend Section 7, 9 and 10 of IBC

The government is considering to suspending Section 7, 9 and 10 of the Insolvency and Bankruptcy
Code (IBC), at a later stage, if the current situation continues beyond six months.

Meanwhile, for fisheries, the finance minister said that a one-month delay will be condoned in
the arrival of the consignment of fisheries. Import permits for fisheries expiring in April have been
extended by three months

RBI, finance ministry monitoring volatility in stock market; SEBI has suggested guidelines

She reiterated that an economic package will be announced 'sooner', rather than later.
She also said, 'We are closely monitoring the situation. SEBI has come up with guidelines and
stated its position on the recent volatility. We are monitoring the stock market thrice a day.

The government is working on an economic package to deal with the hardships caused by
the lockdown to control the coronavirus crisis and the same will be announced soon

FINANCIAL NEWS

NO IMPOSITION OF MINIMUM BALANCE REQUIREMENT FOR 3 MONTHS

The finance minister also clarified that banks not imposing the minimum balance requirement
fee is for a three-month period, for now.

NO WITHDRAWAL CHARGES ON DEBIT CARDS

Debit cardholders can withdraw money, free of charge, announces FM from any bank ATM for the
next three months. She also stated that there shall not be any minimum balance requirement fee.

REDUCED BANK CHARGES ON DIGITIAL TRADING

The government said that bank charges are reduced for digital trade.

MCA declares spending on COVID-19 as eligible CSR activity#coronakoharanahai#FightagainstCorona
23/03/2020

MCA declares spending on COVID-19 as eligible CSR activity

#coronakoharanahai
#FightagainstCorona

23/03/2020

MCA info during Lockdown due to COVID19

1. View Public Document (VPD) requests would be disabled till 31st March 2020.

2. Availability of MCA21 Voice and Ticketing Helpdesk services have been severely impacted. The same would not be available till further notice.

"Update-Ministry of labour and Employment "The ministry of labour and employment has extended the date of filing the uni...
22/03/2020

"Update-Ministry of labour and Employment "

The ministry of labour and employment has extended the date of filing the unified annual return on shram suvidha portal till April 2020 . The relevant circular is attached

Address

Head Office:Suite No. 4, 1st Floor, Radha Krishna Bhawan, Opposite Civil Hospital, Park Road Lucknow. 226001; Branch: A-4, Shalimar Courtyard, NH 24, Sitapur Road
Lucknow
226021

Opening Hours

Monday 09:00 - 19:00
Tuesday 09:00 - 19:00
Wednesday 09:00 - 19:00
Thursday 09:00 - 19:00
Friday 09:00 - 19:00
Saturday 09:00 - 18:00
Sunday 11:00 - 14:00

Telephone

9335235668

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