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22Mar, 2024
Material suppliers to come under RERA lens:- In order to ensure the quality of construction not held liable to the promoters only but also material suppers and vendor who would be accountable for any inadequacy in the quality of the material for the construction of the building. As per The Maharashtra Real Estate Regulatory Authority (MAHA-RERA) mandates the promoters to upload the information relating to suppliers and vendors of the construction material on their respective website including guarantee period of the material and such information is required to display in addition to the other disclosures as required under the Act. Thus, it make vendors and suppliers along with the promoters answerable for poor quality of housing construction. Finally, it is a vital step taken by MAHA-RERA to ensure the promoters of the registered projects fully accountable for the quality of construction.”
22Mar, 2024
Applicability of CARO- Check before Report finalization:

All Companies except:

1. Banking Companies.

2. Insurance Companies.

3. NPO Companies (Section 8 Company).

4. One Person Company.

5. Small Company (Paid Up Capital upto INR 50 lakhs AND Turnover upto INR 200 lakhs).

6. Private Company (not within any Group Companies) having UPTO INR 1 crore (Capital and Reserves), INR 1 crore (Borrowings) and INR 10 crores (Sales).

Further to note that CARO is not applicable for Consolidated Financial Statements of a Holding Company.

22Mar, 2024
Requirement of Cash Flow Statement..!!

Cash Flow Statement not required for :

1. One Person Company.

2. Dormant Company.

3. Startup Private Company.

4. Small Company (Private Company with paid up capital and turnover not more than 50 Lakhs and INR 200 Lakhs respectively.

5. Small and Medium Sized Companies (SMCs) as per Company (Accounting Standard) Rules, 2006.

All others are required to prepare the same.

22Mar, 2024
Dear Individual Income Tax payers,

File your ITR before 31st of July to avoid late fee, otherwise be ready to pay the fees as under;

The late fee will be Rs. 1,000/- for Assessees having total taxable income up to Rs. 5,00,000/-,

and Rs. 5,000/- for Assessees having total taxable income of more than Rs. 5,00,000/- and after December 10,000/-

Thank you.

22Mar, 2024
DIR-3 KYC notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 would be made available shortly for filing purposes.

While filing DIR-3 KYC form, all stakeholders are requested to use PAN based DSC in case of Indian Nationals i.e., DSC should contain PAN as specified in the form.

In respect of foreign nationals, applicant’s name in DSC would be matched with his/her name entered while filing the form(DIR-3 KYC).

In case the PAN /Name in DSC does not match with PAN/Name entered in the form, they would be required to get a DSC with PAN/Name as specified in the form.

22Mar, 2024
MCA UPDATE DIR 3KYC_ LATE FEES PENALTY 5000 FROM 1 SEPTEMBER 2018 AND DIN WILL BE DEACTIVATED*

Documents Required

1. DSC of Director duly Registered;

2. Self attested PAN card;

3. Self attested Aadhar card with updated Mobile number with UIDAI;

4. Self attested Electricity Bill, Mobile Bill, Bank statement of Director (latest 2 Months) of his/her present address;

5. Latest Passport size photo;

6. DIN declaration cum KYC.

DIR-3 KYC Will be deploy from 10.07.2018.

Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August, 2018.

The form should be filed by every Director using his/her own DSC and should be duly certified by a practicing professional.

After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’.

So please complete your Director KYC before 31 August 2018 to save penalty of Rs.5,000/-