In a bid to combat tax evasion and promote transparency in financial transactions, banks in India have been directed to notify the income tax department about significant cash deposits involving ₹2,000 currency notes above a specified threshold. This reporting requirement falls under the statement of financial transactions (SFT) that banks are mandated to submit annually.
The Ministry of Corporate Affairs (MCA) in India has recently implemented an important amendment to the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016. This amendment reinforces the necessity for companies to file their overdue financials before initiating the process of strike-off and closure. In this blog post, we will explore the details of this amendment and its implications for maintaining accountability and transparency in the corporate sector.
Incorporating a company in India involves several steps. Here is a step-by-step guide:
It has been decided to allow filing of e-form DIR-3-KYC and web-form DIR-3-KYC-WEB without filing fee upto 15th October, 2022, vide General Circular No. 09/2022 dated 28th September 2022. Click here to download the circular