Skip to main content

MCA Update (One Person Company)

By
MCA has notified the Amendments as announced in the Budget 2021, for OPCs.(One Person Company)

As per the Amendments introduced: 

1. Thresholds of Paid-up capital exceeding Rs 50 lakhs or turnover exceeding Rs 2 crores for Compulsory conversion into non-OPC Public/Private Company is removed.

2. Form INC-6 can now be used for both - conversion from Private/Public to OPC or OPC to Private/Public.

3. For conversion of a non-OPC to OPC, thresholds of Paid up capital Rs 50 lakhs or less and turnover of Rs 2 crores or less is removed. Irrespective of Capital/turnover, non-OPC can get itself converted into OPC.

--
CA Yashu Goel
9899263490
M/s N.K. Goel & Bros.
Chartered Accountants

Comments

Post a Comment

Popular posts from this blog

CBDT Instruction No 5/2014 dated 10.07.2014

By
Dear Members,   The Hon'ble CBDT has issued Instruction No 5/2014 dated  10.07.2014 , by which the monetary limits for filing appeals to ITAT / HIGH COURT / SUPREME COURT have been revised.   The New limits are:                                  Tax effect Appeal before ITAT                                Rs.  4,00,000/- High Court                                               Rs. 10,00,000/- Supreme Court                                        Rs. 25,00,000/-   Copy of Instruction is attached for your information.
Post a Comment
Read more

S. 143(3) assessment void if case picked up contrary to CBDT’s Scrutiny Guidelines

By
Crystal Phosphates Ltd vs. ACIT (ITAT Delhi) S. 143(3) assessment void if case picked up contrary to CBDT’s Scrutiny Guidelines  For AY 2006-07, the assessee filed a ROI declaring income of Rs. 3.97 crore. ·          The case was selected for scrutiny under clause 2(v)(b) of the Scrutiny Guidelines issued by the CBDT. ·          The said clause of the Scrutiny Guidelines provided that a case had to be selected for compulsory scrutiny if an addition/ disallowance of Rs. 5 lacs or more was pending in appeal before the CIT(A) and such identical issue also originated in the year under consideration. The assessee claimed that as this condition stipulated in the Scrutiny Guidelines was not satisfied, the AO had no jurisdiction to select the case for scrutiny . The AO & CIT(A) rejected the claim . On appeal by the assessee to the Tribunal, HELD allowing the appeal : The CBDT’s instructions ...
Post a Comment
Read more

GST - Electronic invoicing (E Invoicing) made mandatory

By
E-invoice has been made mandatory for taxpayers having turnover exceeding 10 crores from 1st October, 2022: Notification 17/2022 Central Tax dtd 01/08/2022 It implies that any registered person whose aggregate turnover in any preceding financial year from FY 2017-18 onwards has exceeded Rs 10 Crore shall issue E-invoice w.e.f 1st October 2022 . -- CA Yashu Goel 9899263490 M/s N.K. Goel & Bros. Chartered Accountants www.TaxingNarad.COM
Post a Comment
Read more