Companies Incorporated before December, 2017 needs to file INC-22A to make their status Active

Ministry of Corporate Affairs vide notification dated 21st February, 2019 amended Companies (Incorporation) Rules, 2014 which require Companies Incorporated on or before 31st Decemeber, 2017 to file Active Company Tagging Identities and Verification (Form ACTIVE) on or before 25-04-2019.

Companies which are not filed Annual Returns and Financial Statements up-to Financial Year 2017-18 (MGT-7,AOC-4 etc) shall be restricted from filing Form ACTIVE. In the Form ACTIVE also you need to mention the Service Request Number (SRN) of Form MGT-7 & Form AOC-4 of Financial Year 2017-18.

The Companies which have been Struck-off or are under the process of Striking off or under liquidation or amalgamated or dissolved SHALL NOT be required to file Form – ACTIVE.

In case Company doesn’t file FORM ACTIVE, the company shall be marked as ACTIVE – non-compliant on or after 26th April, 2019. The following event based information and changes SHALL NOT be accepted in case of non-filing of Form ACTIVE:

  1. Change in Authorised Capital – Form SH-07
  2. Change in paid-up capital – Form PAS-03
  3. Change in Director except cessation – Form DIR-12
  4. Change in Registered Office – Form INC-22
  5. Amalgamation, Demerger – Form INC-28

The Company can file Form ACTIVE on or after 26-04-2019, and make the status of the Company Active – Compliant on payment of fee of Rupees Ten Thousand.

The Company had to upload photographs of the registered office (both external building and inside office showing therein at least one director who has affixed his/her Digital Signature in INC-22A).

Companies Incorporated before December, 2017 needs to file INC-22A to make their status Active

GSTR-3B – January 2019 due date extended…

The due date for filing GSTR-3B return for the month of January, 2019 has been extended to 22-01-2019.

For Jammu & Kashmir, the due date is extended till 28-02-2019.

GSTR-3B – January 2019 due date extended…

Tax Proposals ….Budget 2019 Updates…

Salary Standard Deuction Increased to Rs.50,000/- from Rs.40,000/-.

Notional Rent on self Occupied is waived

Bank/Post Office Interest limit for TDS increased from Rs.10,000/- to Rs.40,000/- . TDS also not applicable

TDS threshold on rent increased from 1.80 Lakh to Rs.2.40 lakhs

Benefit of rollover from U/s.54 increased to two houses for Capital Gain up-to Rs.2 crores. This can be availed once in life time

Sec.80IBA extended to one more year for affordable housing schemes

Period of exemption on notional rent is extended to 2 year from the date of Completion Certificate for real estate.

Tax Proposals ….Budget 2019 Updates…

No Income tax for Individuals having income up-to Rs.5,00,000/-

Reduction for Middle Class

Existing rates Continue

Individual Tax Payers upto Rs.500000/- – Full tax Rebate

No Income tax for Individuals having income up-to Rs.5,00,000/-

Updates of Union Budget 2019

Govt says reducing tax for middle class always a priority

FM says Rs 1.30 lk cr undisclosed income brought under the tax net

India poised to become $5 tn economy in next 5 years

Fiscal Deficit for FY 19-20 3.4%

Rs 38,572 Cr allocated for National Education Mission

Updates of Union Budget 2019

Budget 2019 – Tax – NO RELIEF DECLARED YET

Tax Collections increased significantly. Return filing also increased.

99.54% of Income Tax returns filed last year accepted by department

Return processed in 24 hours

Digital Scrutiny of tax files

Budget 2019 – Tax – NO RELIEF DECLARED YET

Budget 2019 updates..

FM says looking to increase container cargo transport on Brahmaputra River

Domestic air traffic doubled in last 5 years: FM

Indian Railways budget outlay Rs1,48,658 crore

Govt allocates Rs 64,587 crore for Railways in FY 19-20

Entertainment Industry – Single Window for Domestic Film

Access to capital to become easier for MSMEs

Gratuity Limit Increased to Rs.30 Lakh

Budget 2019 updates..

Budget Updates…..

Mega Pension Scheme for Un-Organised Pension Scheme for organised sectors having income below Rs.15,000/-. till 60 years and Govt will contribute equal contribution. For a person of 29 years age, monthly contribution will be Rs.100/-. Rs.3000/- pension after 60 years.

Govt announces 8 crore free LPG connections under ‘Ujjwala’ Yojana

2% interest subvention on MSME loans with ticket size of Rs 1 cr


New PM Kisan Samman Scheme positive for farm equipment sector


Defence Budget increased to Rs 3 lakh crore

Budget Updates…..

Budget 2019 Updates… Agriculture

Assured Income Support for Small and marginal farmers holding up-to 2 Hectares – New Scheme Launched – Rs.6000/- to farmers by Direct Account Transfer Scheme in 3 installments of Rs.2000 each. A wholly Central Govt Sponsored Scheme. Rs.75000 crore for FY 2019-20 and Rs.20000 crore in current year and the same will be implemented this year itself.

Rs.750 crores for Animal Husbandry and Fisheries for 2018-19

Fisheries – Seperate Department will be constituted. Benefit of 2% interest subvention for Animal Husbandry and fisheries.Additional 3% interest subvention for timely repayment.

All farmers affected by national calamity, who reschedule loan will get 2% interest subvention and 3% interest subvention for rescheduled period als0.

Budget 2019 Updates… Agriculture