Remuneration to Independent Director in case of loss. Amendment permitting payment in accordance with Schedule V effective from 18.03.2021 – MCA Notification
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 18th March, 2021
S.O.1255(E).—In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2020 (29 of 2020), the Central Government hereby appoints the 18th March, 2021 as the date on which the provisions of section 32 and section 40 of the said Act shall come into force.[F.No.1/3/2020-CL-I]
K.V.R. MURTY, Jt.Secy
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- No liability to collect TCS u/s 206C (1C) from person involved in illegal mining – SC
- Receipts mentioning that it was towards corpus, donation assumed to be for corpus of trust
- Credit in partner’s capital account for book entry adjustments can not be added u/s 68
- Non-compliance of summons issued u/s 131 no ground to make addition u/s 68
- Assessee not obliged to demonstrate actual utilization of donation u/s 35(1)(ii)
