#MAT MINIMUM ALTERNATE TAX RELAXATION TO COMPANIES

#MAT Govt. grants relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency and Bankruptcy Code, 2016. Read more

#ROC Filing Fees Hiked,Government brings strict penalty rules from 01st April 2018

#ROC Filing Fees Hiked,Government brings strict penalty rules from 01st April 2018

  • Presently, the objective to ensure enhancing the filings by providing for condonation of delay, payment of higher fees is not really helping, so in order to make the compliance requirement less onerous with the reasonable time period for all companies and to avoid strict penalties, section 403 is being amended.
  • Existing Penalty Rule 12 times the Normal Fees i.e Maximum Rs.3,600/-, after amendments come in force then Rs.100/ Day
  • 270 days shelter proposed to be removed;
  • Delayed filing fees likely to vary depending on number of defaults and nature of form to be filed;
  • Additional filing fees structure proposed to be brought in line with the LLP;
  • FS & Annual Return can be filed with delayed filing fees of Rs. 100/- per day (after prescribed 30/60 days), different amount may be specified for different classes of companies;
  • For other forms – additional fees will be prescribed, different amount may be specified for different classes of companies.
  • In case of subsequent 2 or more defaults in submission of forms, higher fees may be prescribed.
  • Read more