Changes in the Income tax act: one of the condition for resident of India was leading to creation of shell companies i.e. during a financial year, a company shall have management of its affairs wholly in India. This provision was leading to creation of shell companies.
Ministry of Corporate Affairs (MCA) and Central Board of Direct Taxes (CBDT)both signed MoU for the automatic and regular exchange of tax information.
SEBI requested exchanges to verify credentials/fundamentals of suspect companiesthrough an independent auditor. If exchanges do not find proper fundamentals about the existence of the company, the stock can be delisted.
The Ministry of Corporate Affairs cancelled registrations of over 1.62 lakh companies for not filing financial returns for the immediate two preceding fiscals.
The Indian government had requested theReserve Bank of India (RBI) for the freezing of accounts of the defaulting companies who have long exceeded the stipulated time limit, for the filing of Financials Statements and returns, under the Companies Act.
Final Destination for Goa PSC Notes and Tests, Exclusive coverage of GPSC Prelims and Mains Syllabus, Dedicated Staff and guidence GOAPSC Notes brings Prelims and Mains programs for GOAPSC Prelims and GOAPSC Mains Exam preparation. Various Programs initiated by GOAPSC Notes are as follows:-
- GOAPSC Mains Tests and Notes Program
- GOAPSC Prelims Exam 2024- Test Series and Notes Program
- GOAPSC Prelims and Mains Tests Series and Notes Program
- GOAPSC Detailed Complete Prelims Notes