In a significant ruling, the Madras High Court has held that the provisions of the Income-Tax Law are apolitical and areligious in character, and salaries and grants-in-aid to nuns and missionaries are liable to attract tax deducted at source (TDS). Sumit Naib, Director- Regulatory shares his views on Good news for start-ups: Incorporation norms relaxed for
The Ministry of Corporate Affairs (MCA) vide its notification dated February 27, 2019 has allowed trustees, estate administrators, persons authorised by a company’s board of directors etc to initiate corporate insolvency resolution process (CIRP) against a corporate debtor before the NCLT, on behalf of financial creditors under the Insolvency and Bankruptcy Code (IBC), 2016. Sumit Naib – Regulatory shares his views on aformentioned story for following publications: Hindu Business Line- Front page story Financial Express govt-says-trustees-too-can-approach-ibc-against-corporate-debtors
It started off as a move to check proliferation of shell companies and keep a tab on unscrupulous elements in the board who misuse the system. The Ministry of Corporate Affairs announced a fresh KYC process in July for verifying credentials of Director Identification Number (DIN) holders. Sumit Naib, Associate Director shares his views on aforementioned story for Business Standard.