CBDT Press Release No. 402/92/2006-MC (27 of 2010), dated 2-6-2010
The Central Board of Direct Taxes (CBDT) have amended the Rules relating to TDS provisions date and mode of payment of tax deducted at source (TDS), TDS certificate and filing of statement of TDS’ (TDS return) vide Notification No. 41/2010; SO No. 1261(E) dated 31.05.2010. The amended rules will apply only in respect of tax deducted on or after 1st day of April 2010.Forms for TDS certificate have been revised to include the receipt number of the TDS return filed by the deductor. Now the Tax-deduction Account Number (TAN) of the deductor, Permanent Account Number (PAN) of the deductee, and Receipt number of TDS return filed by the deductor will form the unique identification for allowing tax credit claimed by the taxpayer in his income-tax return.Government Authorities (Pay and Accounts Officer or Treasury Officer or Cheque Drawing and Disbursing Officer) responsible for crediting tax deducted at source to the credit of the Central Government by book-entryare now required to electronically file a monthly statement in a new Form No. 24G containing details of credit of TDS to the agency authorised by the Director General of Income-tax (Systems). Due date for furnishing TDS return for the last quarter of the financial year has been modified to 15th May (from earlier 15th June). The revised due dates for furnishing TDS return are:
Date of ending of the quarter of the financial year Due date
30th June 15th July of the financial year
30th September 15th Oct. of the financial year
31st December 15th Jan. of the financial year
31st March 15th May of the financial year
immediately following the financial
year in which deduction is made
Due date for furnishing TDS certificate to the employee or deductee or payee is revised as under :
Sl. No. Category eriodicity of furnishing
TDS certificate Due date
1. Salary (Form No.16) Annual By 31st day of May of the financial year
immediately following the financial year in
which the income was paid and tax
deducted
2. Non-Salary(Form No.16A) Quarterly Within fifteen days from the due date for
furnishing the ‘statement of TDS’
Wednesday, June 02, 2010
Tuesday, June 01, 2010
Easy Exit Scheme 2010 under Companies Act, 1956
Ministry of Corporate Affairs Introduces Easy Exit Scheme 2010 Under Section 560 of the Companies Act 1956
In order to give an opportunity to the defunct companies, for getting their names struck off from the Register of Companies, the Ministry of Corporate Affairs has decided to introduce a Scheme namely, ‘Easy Exit Scheme, 2010’ under Section 560 of the Companies Act, 1956.
The Scheme does not inter-alia cover the listed companies, section 25 companies, vanishing companies, companies under inspection/investigation, companies against which prosecution for a non-compoundable offence is pending in court, companies having outstanding public deposits or secured loan or dues towards banks and financial institutions or any other Government Departments etc. or having management dispute or company in respect of which filing of documents have been stayed by court or CLB or Central Government or any other competent authority.
Any defunct company desirous of getting its name struck off the Register under Section 560 of the Companies Act, 1956 shall make an application without fee in the Form EES, 2010 electronically on the Ministry of Corporate Affairs portal namely www.mca.gov.in along with affidavit, Indemnity Bond and a Statement of Account duly certified by the statutory auditor or a Chartered Accountant in whole time practice.
The schemes will be in operation from 30th May, 2010 to 31st Aug, 2010.
Availing the benefit of the Schemes will prevent companies from prosecution and other legal action.
In order to give an opportunity to the defunct companies, for getting their names struck off from the Register of Companies, the Ministry of Corporate Affairs has decided to introduce a Scheme namely, ‘Easy Exit Scheme, 2010’ under Section 560 of the Companies Act, 1956.
The Scheme does not inter-alia cover the listed companies, section 25 companies, vanishing companies, companies under inspection/investigation, companies against which prosecution for a non-compoundable offence is pending in court, companies having outstanding public deposits or secured loan or dues towards banks and financial institutions or any other Government Departments etc. or having management dispute or company in respect of which filing of documents have been stayed by court or CLB or Central Government or any other competent authority.
Any defunct company desirous of getting its name struck off the Register under Section 560 of the Companies Act, 1956 shall make an application without fee in the Form EES, 2010 electronically on the Ministry of Corporate Affairs portal namely www.mca.gov.in along with affidavit, Indemnity Bond and a Statement of Account duly certified by the statutory auditor or a Chartered Accountant in whole time practice.
The schemes will be in operation from 30th May, 2010 to 31st Aug, 2010.
Availing the benefit of the Schemes will prevent companies from prosecution and other legal action.
Company Law Settlement Scheme 2010
Ministry of Corporate Affairs Introduces Company Law Settlement Scheme 2010 for Defaulting Companies
It has been observed that a large number of companies are not filing their due documents timely with the Registrar of Companies. Due to this, the records available in the electronic registry are not updated and thereby are not available to the stakeholders for inspection. Further, due to non-filing of the documents on time, companies are burdened with additional fee and facing the prosecutions also.
There are many companies, who have not increased their paid up capital up to the threshold limit provided in sub-section (3) and sub-section (4) of Section 3 of the Companies Act, 1956.
In order to give an opportunity to the defaulting companies to enable them to make their default good by filing belated documents and to become a regular compliant in future, the Ministry has introduced a Scheme namely, ‘Company Law Settlement Scheme, 2010,’ for condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made there under.
After granting the immunity, the Registrar concerned shall withdraw the prosecution(s) pending if any before the concerned Court(s).
At the conclusion of the Scheme, the Registrar shall take necessary action under the Companies Act, 1956 against the companies who have not availed this Scheme and are in default in filing of documents in a timely manner.
The scheme will be in operation from 30th May, 2010 to 31st Aug, 2010.
For details refer General Circular No: 1/2010 dated 26.05.2010 available below
Availing the benefit of the Scheme will prevent companies from prosecution and other legal action.
It has been observed that a large number of companies are not filing their due documents timely with the Registrar of Companies. Due to this, the records available in the electronic registry are not updated and thereby are not available to the stakeholders for inspection. Further, due to non-filing of the documents on time, companies are burdened with additional fee and facing the prosecutions also.
There are many companies, who have not increased their paid up capital up to the threshold limit provided in sub-section (3) and sub-section (4) of Section 3 of the Companies Act, 1956.
In order to give an opportunity to the defaulting companies to enable them to make their default good by filing belated documents and to become a regular compliant in future, the Ministry has introduced a Scheme namely, ‘Company Law Settlement Scheme, 2010,’ for condoning the delay in filing documents with the Registrar, granting immunity from prosecution and charging additional fee of 25 percent of actual additional fee payable for filing belated documents under the Companies Act, 1956 and the rules made there under.
After granting the immunity, the Registrar concerned shall withdraw the prosecution(s) pending if any before the concerned Court(s).
At the conclusion of the Scheme, the Registrar shall take necessary action under the Companies Act, 1956 against the companies who have not availed this Scheme and are in default in filing of documents in a timely manner.
The scheme will be in operation from 30th May, 2010 to 31st Aug, 2010.
For details refer General Circular No: 1/2010 dated 26.05.2010 available below
Availing the benefit of the Scheme will prevent companies from prosecution and other legal action.
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