Author: Sukhwinder Singh

One CS, Insolvency Professional suspended for one year – IBBI

Registration of Ms. Bhavna Sanjay Ruia (Company Secretary and IP) has been suspended for 1 year and DC of IBBI termed her as “not a fit and proper person” for being an IP. The matter was primarily related to her fees as an IP which was not reasonable in the eyes of the disciplinary committee. Click here to download order Source – Insolvency and Bankruptcy Board of...

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27th GST council meeting results – 04.05.2018

The incentive to promote Digital Transactions Keeping in view the need to move towards a less cash economy, the Council has discussed in detail the proposal of a concession of 2% in GST rate [where the GST rate is 3% or more, 1% each from applicable CGST and SGST rates] on B2C supplies, for which payment is made through cheque or digital mode, subject to a ceiling of Rs. 100 per transaction, so as to incentivize promotion of digital payment.  The council has recommended for setting up of a Group of Ministers from State Governments to look into the...

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View Pension Passbook’ Service for the pensioners through Umang App

Employees’ Provident Fund Organisation (EPFO) introduced a new service through ‘UMANG app’. On clicking ‘View Passbook’ option, it requires PPO Number and Date of Birth information to be entered by the pensioner.  After successful validation of the information fed, an OTP will be sent to the registered mobile number of the pensioner.  On entering OTP, ‘Pensioner Passbook’ will display the details of the pensioner like Name, DOB along with the last pension credited information.  The facility to download the financial year wise complete passbook details is also available.  Other e-services of EPFO already available through UMANG app includes Employee Centric services (View...

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Investment Limit for Senior Citizens from Rs. 7.5 lakh to Rs.15 lakh under Pradhan Mantri Vaya Vandan Yojana (PMVVY)

The PMVVY is being implemented through Life Insurance Corporation of India (LIC) to provide social security during old age and protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions. The scheme provides an assured pension based on a guaranteed rate of return of 8% per annum for ten years, with an option to opt for the pension on a monthly/ quarterly/half yearly and annual basis. The differential return, i.e. the difference between the return generated by LIC and the assured return of 8% per annum would be...

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How to appoint new director when all the other directors are disqualified?

Hello Readers, Trust all of you doing good in your life; Today I would like to share important information and the process for addition of names of the newly appointed directors in the MCA database in the companies where all the Directors stand vacated due to disqualification under section 164(2) (a) r/w 167(1) of the Companies Act, 2013. The competent approval authority has prescribed the following requirements which are to be submitted to the office of Registrar of Companies as stated in the list:- The company should submit the covering letter specifying the case of the company clearly about...

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May 2018
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