Other Briefings
Payment of MCA 21 Fees/ROC Fees through NEFT
MCA 21 payments can be done via credit card, internet banking and physical challan currently. Now, the ministry has recognized five banks (Indian Bank, HDFC, ICICI, PNB and SBI) for collection of MCA 21 fees, which means that only the account holders of these banks can avail Internet banking facility.
Discussion on Liberalization of FDI in Defense and Retail
Jul. 4 – According to the Finance Minister of India, recent FDI policies have become more user-friendly, as all previous regulations and guidelines have been consolidated into one comprehensive document that is now reviewed every six months. The Finance Minister said that this has been done to enhance the clarity and accessibility of our FDI […]
Employers to Have Compulsory Insurance for Overseas Workers
From August 1, 2011 all South Korean companies hiring overseas labor-intensive workers will be required from later this year to give to the departure expiration insurance to pay their retirement benefits.
Verifying the Accuracy of TDS Certificates
Jun. 28 – India’s National Securities Depository Ltd. (NSDL) has now begun an online service whereby any deductee can verify the accuracy of the TDS Certificate (Form 16A) issued by the deductor. For this particular purpose, the deductee must have the following details, or should have a copy of the TDS certificate issued by the […]
Fast Track Exit Mode Guidelines for Defunct Companies in India
Following are the Fast Track Exit (FTE) mode guiding principles for defunct companies in India under section 560 of the Companies Act, 1956.
MCA Proposes Mandatory Demat Deposit Receipts of Public Companies
The Ministry of Corporate Affairs (MCA) has suggested vide notification dated June 6, 2011 that all public companies and their subsidiaries convert share certificates and bonds into an electronic (Demat) form.
Balance Sheets, Profit and Loss Accounts Now in XBRL Format
India’s Ministry of Corporate Affairs has decided to get the filing of Balance Sheet and Profit and Loss accounts in extensible business reporting language format. The financial statements to be filed will be based on taxonomies of XBRL as per the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006.
Inter-Ministerial Group Discusses Opening Up FDI in Multi-Brand Retail
Jun. 10 – An inter-ministerial group (IMG) on inflation has suggested permitting foreign direct investment in multi-brand retail as one of two steps to reduce rising prices and cut down the margin between farms and retail prices. It was the first formal proposal by a government panel to permit FDI in the closely policed and […]
