Corporate Updates 27.05.2016

MCA

Forms FC-4, CHG-4, GNL-1, MGT-7 and URC-1 are likely to be updated on MCA21 Company Forms Download page w.e.f 28th May 2016.


LLP Form 11 was recently updated on the MCA21 LLP Forms Download page. Stakeholders are advised to check the latest version before filing. Please note that stakeholders should manually edit ‘Obligation of contribution’ if this field for individual(s) or body corporate as partners is not pre-filled

Stakeholders are advised to check the latest version before filing.

CBDT

Central Board of Direct Taxes (CBDT) has issued Clarification on the Income Declaration Scheme, 2016. The said declarations were issued to cover large number of query by stakeholders. The clarification covers all the important queries that may be raised by an assessee regarding their undisclosed income. As clarifies that the information given by assesses shall be kept confidential; the Income should be declared as whole not in parts; It is not mandatory to file the valuation report of the undisclosed income represented in the form of investment in asset along with the declaration and where a search/ survey operation was conducted and the assessment has been completed but certain income was neither disclosed nor assessed, such undisclosed income can also be declared under the Scheme.


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