Amanda Ross

  Financial Advisor - Direct Tax, Business Finance - Singapore | Everyone’s economic and life situation is unique, and I keep that in mind when providing financial security advice. I believe that personalized service is essential when matching clients with the right financial security products and services. As a Financial Security Advisor, I am dedicated to learning about your personal goals. Together we will use them to build a financial security plan focused on your specific needs.      

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Corporate Secretarial Services

Corporate secretarial services, also known as “Company Secretarial Services”, are the supporting structure to the company’s compliance needs regardless of the nature of the company. Company secretarial services refer to the administrative functions within a business that ensure good corporate governance, effective communication among stakeholders, and compliance with legislation and laws that govern business. If you are searching for Corporate secretarial services then you can contact us or you can visit to our website anytime at Corporate secretarial services.

Visit at:- https://www.mbgcorp.com/in/corporate-secretarial-services/

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Due Diligence in Mergers and Acquisitions (M&A)

Due diligence in everyday language is about verification and fact checking on a claim , thing, or situation. Its most applied usage, though, is in Finance, particularly due diligence in Mergers and Acquisitions (M&A).

Due diligence in Mergers and Acquisitions (M&A) is the process of auditing or investigating a business opportunity or deal to verify that all the facts, figures and financial information claimed by the other party are correct, and that there are no other risks and possible areas of concern that may have been undisclosed. It is done to ensure that the buyer has all the correct information on which to base the purchase.

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SOX Compliance

In 2002, the United States Congress passed the Sarbanes-Oxley Act (SOX) to protect shareholders and the general public from accounting errors and fraudulent practices in enterprises, and to improve the accuracy of corporate disclosures. The act sets deadlines for compliance and publishes rules on requirements.

What is J-SOX?

The Financial Instruments and Exchange Act or J-SOX is the Japanese equivalent of SOX in Japan that the organizations in Japan need to comply with.

SOX compliance and J-SOX compliance are not just legal obligations but also good business practices. Companies are required to operate ethically with limited access to internal financial systems.

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SOX Compliance and J SOX Compliance

What is SOX Compliance (Meaning of SOX)?

In 2002, the United States Congress passed the Sarbanes-Oxley Act (SOX) to protect shareholders and the general public from accounting errors and fraudulent practices in enterprises, and to improve the accuracy of corporate disclosures. The act sets deadlines for compliance and publishes rules on requirements.

What is J-SOX?

The Financial Instruments and Exchange Act or J-SOX is the Japanese equivalent of SOX in Japan that the organizations in Japan need to comply with. Read More:- SOX Compliance and J SOX Compliance

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MBG | Applicability of New Section 194Q of Income Tax Act (ITA), 1961

The Finance Act, 2021, inserted Section 194Q in the Income Tax Act, 1961 (ITA) for deduction of tax at Source (TDS) on purchase of Goods at the rate of 0.1% of the purchase value exceeding INR 5 million. Section 194Q provides applicability of TDS by person (Buyer) responsible for paying any sum to resident (Seller) for purchase of goods subject to certain conditions with effect from July 1, 2021.

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CBDT notifies amendments in Form 24Q, Form 16 and Form 12BA

CBDT notifies amendments in Form 24Q, Form 16 and Form 12BA

The Central Board of Direct Taxes (CBDT) notifies the following changes in Form 16, Form 24Q and Form 12BA vide Notification No. 15 of 2021 dated 11.03.2021 and Income-tax (3rd Amendment) Rules 2021.

Changes in Form No. 12BA

Form 12BA requires reporting of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof paid or provided to the employee by the employer. The following changes are notified in Form 12BA to incorporate the changes or amendments as per Finance Act, 2020:

In addition to Name, Designation and PAN of employee, Aadhaar Number of employee will also be shown in Form 12BA.

Revised Form 12BA incorporated reporting of “Stock options allotted or transferred by employer being an eligible start-up referred to in section 80-IAC of the Income Tax Act, 1961 (ITA).”

Revised Form 12BA incorporated reporting of “Stock options (non-qualified options) other than ESOP in Col. 16 of Form 12BA”

Revised Form 12BA incorporated reporting of “Contribution by employer to fund and scheme taxable under section 17(2)(vii) of the ITA”. As any contribution made by the employer in respect of the employee in a Recognized Provident Fund, in a National Pension Scheme, and in an Approved Superannuation Fund...

To continue reading go here:- News From CBDT

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Filing of abridged form of Annual Return by One Person Company and Small Company

1-Filing of abridged form of Annual Return by One Person Company and Small Company

MCA, vide its circular dated 5th day of March, 2021, had notified the Companies (Management and Administration) Rules, 2021 and had issued a commencement notification dated 5th day of March, 2021 for enforcement of Section 23 of the Companies Amendment Act, 2017 (i.e. Section 92 of the Companies Act, 2013). The said amendments provides as under:

One Person Company and Small Company shall file their Annual Return as required by the provisions of the Section 92 of the Companies Act, 2013, in e-form MGT-7A effective from the financial year 2020-21 onwards.

All Companies other than One Person Company and Small Company shall continue to file their....

To continue reading go here:- News from MCA

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CBDT prescribed Form-NR

CBDT prescribed Form-NR to furnish the information by individuals affected by change in residential status due to Covid-19

The Central Board of Direct Taxes (CBDT) has issued a circular on March 3, 2021, clarifying that Non Resident individuals facing the issue of double taxation on their income for the Financial Year (FY) 2020-21 due to extended stay in India because of COVID-19 related travel restrictions have to furnish the specific information in the newly notified “Form-NR” by March 31, 2021.

The CBDT has issued circular in response to the various representations requesting for relief in determination of the residential status for FY 2020-21 from individuals who visited to India during FY 2019-20 and remain stranded in India due to suspension of international flights when the nationwide lock down was imposed in the end of March 2020.

There were concerns that the extended stay could lead to these individuals becoming residents in India as per the provisions of the Income Tax Act, 1961 which considers the stay duration for determining residential status and ambit of income (including global income) chargeable to tax in India. Earlier, in May 2020 for the FY 2019-20, CBDT clarified that...

Continue reading go here:- Direct Tax Alert

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Direct Tax Alert: Extension of various Income Tax due dates by CBDT

Extension of various due dates by CBDT for passing of orders under the Income Tax Act, 1961 and the Benami Transactions (Prohibition) Act, 1988 vide Notification No. 10/2021 dated 27th February, 2021

Time limits for passing of any order for assessment or reassessment under section 153 or section 153B of the Income Tax Act (‘ITA):

Time limit expiring on 31st March, 2021 due to extension by the earlier notification No. 93/2020 dated 31st December, 2020 has been further extended to 30th April, 2021; and.....

Continue reading go here:- Income Tax Due Dates

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Anyone wants to know How to setup a business in uae and wants to go for any consultant who can help you to Setup a Business in UAE and Dubai Mainland can contact to MBG Corporate Services on

Contact us: [phone]

Email: [email protected]

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SC directed CBDT to decide on the relief to be provided to NRIs in lieu of COVID-19

The Honorable Supreme Court (SC) of India directed to the Central Board of Direct Taxes (CBDT) to decide within three weeks on reliefs to be given to Non Resident Indians (NRIs) in terms of the payment of income tax for the Financial Year (FY) 2020-21 in wake of the COVID-19 pandemic.

The Apex Court has issued directions in response to a petition filed by a NRI seeking relief in losing of the Non Residential status under the Income Tax Act, 1961 (ITA) which may expose his global income to tax in India due to his involuntary extended stay amid the outbreak of COVID-19. The Court has directed the petitioner NRI to file representation to the CBDT within three days in response to which CBDT is.... 

Continue reading go here

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Detailed Analysis of Union Budget 2021

#budget2021withmbg

Our resident experts have performed a detailed analysis of Union Budget 2021 covering

-Macro-economic Overview -Insights on Direct & Indirect Taxes Proposals -Policy Reforms & Initiatives Under Budget Proposals -Brief Sectoral Analysis

and possible impacts that the future has in store for you.

Download the report now: https://pos.li/2i1awp

Hope you find it useful.

Do let us know your feedback at [email protected]

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Companies (Share Capital and Debentures) Amendment Rules, 2021

#mbginsights #newsalert

News from the desk of Ministry of Corporate Affairs (MCA): Companies (Share Capital and Debentures) Amendment Rules, 2021

Read the article here: https://pos.li/2i1kbe

#ministryofcorporateaffairs #legal #regulatory

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GSTR Filing Due dates, Late Fees, Interest, Penalties

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File GST Return in just 3 easy steps

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