Blog
Highlights of Union Budget 2021
-Major focus on healthcare and infrastructure Considering the ongoing COVID-19 pandemic, the Union Budget of India for FY 2020-21 was expected to be India’s most consequential budget of all years. However, apart from being digital in form, the budget seems to be just a vision ahead of the Atma Nirbhar Bharat Abhiyan. Apart from the...Continue Reading
TAX CHANGES TO BE EXPECTED
Six months into 2021 and a lot of dead bodies have flown down the Ganga! The rot has set into personal, emotional, and economic environment. With most businesses down and the wheels of fortune jammed, the government has very little options to raise funds. Let us look at what is happening. The direct tax collection...Continue Reading
SEBI and Concept of Governance
Wednesday, 03 March 2021 The role of Independent Director (ID) as per SEBI seems to be that of a watchdog. The proposed changes has recommended changes to rules regarding eligibility criteria, appointment and removal, and the remuneration criteria. We will not discuss the arbitrary decisions of SEBI or the role that they themselves play in...Continue Reading
DISRUPTIVE PATRIOTISM
Every citizen, resident, non-resident, naturalised or otherwise, straight, LGTB, of whatever religion, belief, ethnicity, or non-belief, whether ‘challenged’ or not, born through a natural process or otherwise, has to adhere to the constitution. This is a social contract. The social contract defines our duties, responsibilities and of course, our rights. Hence, it defines Governance. Similarly,...Continue Reading
Compliance Calender – March 2020
Calendar Date / Due Date Compliance Activity Brief Description of Compliance Act/Rules Frequency Regulatory Authority 7th March External Commercial Borrowing Entity who has taken External Commercial Borrowing are require to report actual ECB transactions through an AD Category – I Bank FEMA,1999 Monthly Department of RBI TDS Payment Salary Income Tax Act,1961 Monthly Income Tax...Continue Reading
Free Allotment of Instant PAN through Aadhaar Based e-KYC
The Income Tax Department is providing the facility for allotment of Instant PAN (“Permanent Account number”) (on a real-time basis) for resident applicants who are desirous of getting PAN and are in possession of a valid Aadhaar number. E-Permanent Account Number (“e-PAN”) PAN is a 10-character alphanumeric code issued by the Income Tax department to...Continue Reading
LINKING OF PAN WITH AADHAAR
LINKING OF PAN WITH AADHAAR The Central Board of Direct Taxes (“CBDT”) has extended the due date of linking of Permanent Account Number (“PAN”) with Aadhaar from 31st December, 2019 to 31st March, 2020. This is the third time the due date has been extended. The Supreme Court had in September 2018 declared Aadhaar as...Continue Reading
Empanelment of Independent Directors- A Welcome Step or An Another Nightmare for ‘Independent Directors’
Independent directors have a crucial role to play for keeping good governance practices. Ministry of Corporate Affairs (“MCA”) along with Indian Institute of Corporate Affairs (IICA) has developed a databank of Independent Directors in accordance with the provisions of Section 150 of the Companies Act, 2013. APPLICABILITY: Individual already acting or aspiring to become Independent...Continue Reading