Every individual who becomes a company director in India is allotted a Director Identification Number (DIN) by the Ministry of Corporate Affairs (MCA).To keep director records accurate, MCA requires DIN holders to confirm their personal details through Form DIR-3 KYC.As per the latest regulatory change notified by MCA, the filing requirement has been revised and is no … [Read more...] about DIR-3 KYC Compliance for DIN Holders: Revised Regulatory Framework and Filing Requirements
Why is my margin money blocked for trading after selling my shares?
As per SEBI's new peak margin rules, 20% of the value of stocks sold from your portfolio will be blocked for trading on the day you've sold them. The date on which its sold is known as transaction day or “T Day”This blocked margin will be available from the next trading day (T+1).This means, if you have sole shares for Rs 14,549.75, then Rs 2,909.95 (20% of 14,549.75) … [Read more...] about Why is my margin money blocked for trading after selling my shares?
When to file company’s annual return -Applicable to OPC & Small Companies
As a part of annual corporate compliance, every company registered with ROC must file their annual return under section 92 of the companies act, 2013. As prescribed by the government, this annual return has to be filed in form MGT-7 on or before the due date of filing. In the case of one person company and small companies, the prescribed form is MGT-7A.From the financial … [Read more...] about When to file company’s annual return -Applicable to OPC & Small Companies
How financial transactions are tracked by the income tax department
High value financial transactions beyond a specified limit are monitored by the government of India through its various agencies. Income tax department matches the specified high value financial transactions with the data provided by the taxpayer in their income tax return.Therefore, you must include all high value financial transactions to your income tax return while … [Read more...] about How financial transactions are tracked by the income tax department
Penalty for delay in filing income tax audit report under section 44AB
Deadline for filing an income tax audit report for the financial year 2022-23 under section 44AB of the Income tax act, 1961, with the Government of India was 30th September 2023. This deadline has not been extended by the income tax department.For the financial year 2023-24, the deadline for filing income tax audit reports under section 44AB will be 30th September … [Read more...] about Penalty for delay in filing income tax audit report under section 44AB