corporate compliance
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This article has been written by Lalit Rajput , who is a company secretary and he has contributed to the blog. This article contains various Compliance requirements under Statutory Laws. Compliance means “adhering to rules and regulations.” 

Compliance Requirement Under 

  1. Income Tax Act, 1961 
  2. Goods & Services Tax Act,  2017 (GST)
  3. Other Statutory Laws 
  4. Foreign Exchange Management Act, 1999 (FEMA)
  5. SEBI (Listing Obligations And Disclosure Requirements) (LODR) Regulations, 2015
  6. Companies Act, 2013 (MCA/ROC) 

 

Applicable Laws/Acts

Due Dates

Compliance Particulars

Forms/

 (Filing mode)

Income Tax Act, 1961

07.07.2019

Due date for deposit of Tax deducted/collected for the month of May, 2019. 

However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan

TDS & TCS

Income Tax Act, 1961

07.07.2019

Due date for deposit of TDS for the period April 2019 to June 2019 when Assessing Officer has permitted quarterly deposit of TDS under section 192, 194A, 194D or 194H.

TDS

Income Tax Act, 1961

10.07.2019

Due date for issuing quarterly TDS certificates in respect of salary paid and tax deducted has been extended from June 15, 2019 to July 10, 2019 vide order F.No. 275/38/2017-It(b), dated 04-06-2019

Quarterly TDS certificates

Income Tax Act, 1961

15.07.2019

Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of May, 2019

TDS Certificate u/s 194-IA

Income Tax Act, 1961

15.07.2019

Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of May, 2019

TDS Certificate u/s 194-IB

Income Tax Act, 1961

 

15.07.2019

Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of June, 2019 has been paid without the production of a challan

Form 24G

Income Tax Act, 1961

 

15.07.2019

Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending June, 2019

Form No. 15CC

Income Tax Act, 1961

 

15.07.2019

Quarterly statement of TCS deposited for the quarter ending 30 June, 2019

TCS 

Income Tax Act, 1961

 

15.07.2019

Upload the declarations received from recipients in Form No. 15G/15H during the quarter ending June, 2019

Form No. 15G/15H

Income Tax Act, 1961

 

15.07.2019

Due date for f​urnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of June, 2019

Form no. 3BB

Income Tax Act, 1961

 

 

15.07.2019

Due date for issuing quarterly TDS certificates and TDS certificate in respect of salary paid and tax deducted has been extended from June 15, 2019 to July 15, 2019 for the deductors of the State of Odhisha vide order F.No. 275/38/2017-It(b), dated 24-5-2019

TDS certificates

Income Tax Act, 1961

 

30.07.2019

Quarterly TCS certificate in respect of tax collected by any person for the quarter ending June 30, 2019

Quarterly TCS certificate

Income Tax Act, 1961

 

30.07.2019

Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA for the month of June, 2019​

u/s 194-IA

Income Tax Act, 1961

 

31.07.2019

Quarterly statement of TDS deposited for the quarter ending June 30, 2019

Quarterly statement of TDS deposited

Income Tax Act, 1961

 

31.07.2019

Annual return of income for the assessment year 2019-20 for all assessee other than 

(a) corporate-assessee or 

(b) non-corporate assessee (whose books of account are required to be audited) or (c) working partner of a firm whose accounts are required to be audited or 

(d) an assessee who is required to furnish a report under section 92E.

Annual return of income

Income Tax Act, 1961

 

31.07.2019

Quarterly return of non-deduction of tax at source by a banking company from interest on time deposit in respect of the quarter ending June 30, 2019​

Quarterly return of non-deduction of tax

Income Tax Act, 1961

 

31.07.2019

Statement by scientific research association, university, college or other association or Indian scientific research company as required by rules 5D, 5E and 5F (if due date of submission of return of income is July 31, 2019)​

 

Income Tax Act, 1961

 

31.07.2019

Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on or before July 31, 2019)​

Form 9A

Income Tax Act, 1961

 

31.07.2019

Statement in Form no. 10 to be furnished to accumulate income for future application under section 10(21) or 11(1) (if the assessee is required to submit return of income on or before July 31, 2019)

Form no. 10

Compliance requirement under Goods & Services Tax, (GST) 2017

Applicable Laws/Acts

Due Dates

Compliance Particulars

Forms/

 (Filing mode)

GST, Act, 2017

10.07.2019

Form GSTR-7 for the month of June, 2019 (TDS Deductor) 

GSTR-7

GST, Act, 2017

10.07.2019

TCS Collector (for the month of June, 2019)

GSTR – 8

GST, Act, 2017

11.07.2019

Return of outward supplies of taxable goods and/or services for the Month of June 2019 (for Assesses having turnover exceeding 1.5 Cr.) Monthly Return.

GSTR – 1

GST, Act, 2017

13.07.2019

Due date for Furnishing return of June 2019 by Input Service Distributors (ISD)

GSTR – 6

GST, Act, 2017

Payment of tax shall be made by 20th of the month succeeding the month to which the liability pertains.

Payment of self-assessed tax 

PMT-08

GST, Act, 2017

18 months after end of the quarter for which refund is to be claimed

Application for Refund

RFD-10

GST, Act, 2017

20.07.2019

Summary of outward taxable supplies and tax payable by Non-Resident taxable person & OIDAR respectively.

GSTR-5 & 

GSTR – 5A

GST, Act, 2017

20.07.2019

Simple GSTR return for the month of June, 2019

GSTR – 3B

GST, Act, 2017

31.07.2019

Registered person having aggregate turnover  up to 1.5 crore in preceding /current financial year

(Quarterly Apr 2019 -June 2019)

GSTR -1 

GST, Act, 2017

31.07.2019

Opting into the presumptive Taxation  scheme for service providers under Notification 2/2019-CT rate

CMP-02

 

Compliance under other statutory laws

Applicable Laws/Acts

Due Dates

Compliance Particulars

Forms / (Filing mode)

EPF  

(The  Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)

15.07.2019

PF Payment for April, 2019

ECR

ESIC 

(Employees’ State  Insurance Act, 1948)

15.07.2019

ESIC PAYMENT FOR APRIL, 2019

ESI CHALLAN

Professional Tax 

and 

Shop & Establishment Taxes

 

31.07.2019

Payment of Professional Tax and Shop & Establishment Taxes

 

Compliance under FEMA/RBI

Applicable Laws/Acts

Due Dates

Compliance Particulars

Forms / (Filing mode)

FEMA ACT 1999

on or before 15.07.2019

FLA Return is required to be submitted mandatorily by all the India resident companies which have received FDI and/ or made ODI in any of the previous year(s), including current year required to be filed by the companies, who holds foreign assets or liabilities in their financial statements as on 31 March.

Annual Return on Foreign Liabilities and Assets

(FLA Return)

FEMA ACT 1999

Monthly Basis 

External Commercial Borrowings

Borrowers are required to report all ECB transactions to the RBI on a monthly basis through an AD Category – I Bank in the form of ‘ECB 2 Return’.

ECB 2 Return’

 

 

 

 

 

 

FEMA ACT 1999

Not later than 30 days from the date of receipt in the Advance Reporting Form (ARF)

ADVANCE REPORTING FORM (ARF)

An Indian company receiving investment from outside India for issue of shares or other eligible securities under the FDI Scheme should report the details of the amount of consideration to the Regional Office concerned of the Reserve Bank through its AD Category I bank.

Advance Reporting Form (ARF)

 

 

FEMA ACT 1999

Not later than 30 days from the date of issue of shares

After issue of shares or other eligible securities, the Indian company has to file

Form FC-GPR

 

 

FEMA ACT 1999

With in 60 days from the date of receipt of the amount of consideration.

Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS.

Form FC-TRS.

https://lawsikho.com/course/diploma-m-a-institutional-finance-investment-laws
Click Here

 

Compliance requirement under SEBI (listing obligations and discloser requirements) (LODR) regulations, 2015

FILING MODE(s) : 

    • For BSE : BSE LISTING CENTRE
  • For NSE : NEAPS Portal

Quarterly Compliance

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1

Regulation 13 (3)

Statement of Investor complaints

Within 21 days from the quarter end.

(on or before 21 April, 2019)

2

Regulation 27 (2)

Corporate Governance Report

Within 15 days from quarter end.

(on or before 15 April, 2019)

3

Regulation 31

Shareholding Pattern

Within 21 days from quarter end

(on or before 21 April, 2019)

4

Regulation 32(1)

Statement of deviation(s) or variation(s).

( *for public issue, rights issue, preferential issue etc.) 

Quarterly Basis

5

Regulation 69

Indian Depository Receipt holding pattern & Shareholding details.

within 15 days of end of the quarter 

(on or before 15 April, 2019)

Half Yearly Compliance

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1

Regulation 7(3)

Compliance Certificate certifying maintaining physical and electronic transfer facility  

Within one month of end of each half of the financial year 

(on or before 30 April, 2019)

2

Regulation  40(9)

Certificate from Practicing Company Secretary (PCS) 

Within one month of end of each half of the financial year

(on or before 30 April, 2019)

3

Regulation  40(10)

Transfer or transmission or transposition of securities

Within one month of end of each half of the financial year

(on or before 30 April, 2019)

 

Annual Compliances

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1

Regulation 14

Listing fees & other Charges  

Payment manner as specified by the Board of by Recognised Stock Exchange.  

2

Regulation 34*

(shall be amended w.e.f. April 2019)

Annual Report

Within 21 working days from the AGM Date

 

Event based Compliance  

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1.

Regulation 7 (5)

Intimation of

appointment  / Change of Share Transfer Agent.

Within 7 days of Agreement with

RTA. 

  2.

Regulation 17(2)

Meeting of Board of Directors

The board of directors shall meet at least 4 times a year, with a maximum time gap of 120 days between any two meetings. 

3.

Regulation 18(2)

Meeting of the audit committee 

The audit committee shall meet at least 4 times in a year and not more than 120 days shall elapse between two meetings.

 

4.

Regulation 29

Notice for Board Meeting to consider the prescribed matters.

The Company shall give an advance notice of: 

a) at least 5 days for Financial Result as per Regulation 29 1 (a) 

b) in case matters as stated in regulation 29 1 (b) to (f) –

 2 Working days in advance (Excluding the date of the intimation and date of the meeting) to Stock Exchange. 

c)  11 working days in case matter related to alteration in i) Securities ;ii) date of interest or redemption of Debenture / bond as per regulation 29(3) (a) ,(b).

5

Regulation 30 

Outcome of Board Meeting (Schedule III Part A- (4)

within 30 minutes of the closure of the meeting

  

  6.

Regulation 31

Holding of specified securities and shareholding pattern

Reg. 31(1)(a):  1 day prior to listing of its securities on the stock exchange(s);

Reg. 31(1)(c): within 10 days of any capital restructuring of the listed entity resulting in a change exceeding 2 % of the total paid-up share capital.

7.

Regulation 39

Issuance of Certificates or Receipts/Letters/Advices for securities and dealing with unclaimed securities.

Reg. 39(2): The listed entity shall issue certificates or receipts or advices, as applicable, of subdivision, split, consolidation, renewal, exchanges, endorsements, issuance of duplicates thereof or issuance of new certificates or receipts or advices, as applicable, in cases of loss or old decrepit or worn out certificates or receipts or advices, as applicable within 30 days from the date of such lodgement.

Reg. 39(2): The listed entity shall submit information regarding loss of share certificates and issue of the duplicate certificates, to the stock exchange within 2 days of its getting information.

8.

Regulation 40

Transfer or transmission or transposition of securities

After due verification of the documents, the Listed Company shall register transfers of its securities in the name of the transferee(s) and issue certificates or receipts or advices, as applicable, of transfers; or issue any valid objection or intimation to the transferee or transferor, as the case may be, within a period of 15 days from the date of such receipt of request for transfer: 

Transmission  requests are processed for securities held in dematerialized mode and physical mode within 7 days and 21 days respectively, after receipt of the specified documents

9.

Regulation 43

Declaration of Dividend

The company has to declare and disclose the dividend on per share basis only.

 

Regulation 46

Company Website:.

Listed entity shall disseminate the information as stated in Regulation 46 (2)

Shall update any change in the content of its website within 

2   working days from the date of such change in content.

10.

Regulation 50

Intimation to stock exchange(s).

Listed Company shall give prior intimation at least 11 working days before the date on and from which the interest on debentures and bonds, and redemption amount of redeemable shares or of debentures and bonds shall be payable. 

11.

Regulation 57

Other submissions to stock exchange(s).

Listed Company shall submit a certificate to the stock exchange within 2 days of the interest or principal or both becoming due that it has made timely payment of interests or principal obligations or both in respect of the non convertible debt securities. 

12.

Regulation 82

Intimation and filings with stock exchange(s).

Intention to issue new securitized debt instruments either through a public issue or on private placement basis :

Reg. 82(2) : Intimation of Meeting 

at least  2 working days in advance, excluding the date of the intimation and date of the meeting, regarding the meeting of its board of trustees, at which the recommendation or declaration of issue of securitized debt instruments or any other matter affecting the rights or interests of holders of securitized debt instruments is proposed to be considered 

13.

SCHEDULE III

PART A: DISCLOSURES OF EVENTS OR INFORMATION: SPECIFIED SECURITIES

Events which shall be disclosed without any application of the guidelines for materiality as specified in sub-regulation (4) of regulation (30) 

(7B) In case of resignation of an independent director of the listed entity, within 7 days from the date of resignation, the following disclosures shall be made to the stock exchanges by the listed entities as mentioned in 7B (i), 7B(ii) & 7B(iii).

14.

Regulation 106J

Period of subscription and issue of allotment letter.

A rights issue shall be open for subscription in India for a period as applicable under the laws of its home country but in no case less than 10 days.

15.

Regulation 108

Application for Listing.

The issuer / the issuing company, shall, make an application for listing, within 20 days from the date of allotment, to one or more recognized stock exchange(s) along with the documents specified by stock exchange(s) from time to time.

SEBI (Depositories and Participants) Regulations 1996)

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1

(SEBI55A of the SEBI (Depositories and Participants) Regulations, 1996.)

Reconciliation of Share Capital Audit. 

Within 30 days from quarter end.

SEBI Takeover Regulations 2011

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1

Regulation 30(1)

Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise 25% or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the 31st day of  March, in such target company in such form as may be specified.

Disclosures shall be made within seven (7) working days from the end of each financial year to;

  • 1) every stock exchange where the shares of the target company are listed; and
  • 2) the target company at its registered office. 

2

Regulation 30(2)

The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may

Disclosures shall be made within seven (7) working days from the end of each financial year to;

  • 1) every stock exchange where the shares of the target company are listed; and
  • 2) the target company at its registered office. 

SEBI (Prohibition of Insider Trading) Regulations, 2015

Sl. No.

Regulation No.

Compliance Particular

Compliance Period

(Due Date)

1

Regulation 7(2)

“Continual Disclosures” 

Every promoter, employee and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees (10,00,000/-) or such other value as may be specified;

Every company shall notify;

within two trading days of receipt of the disclosure or from becoming aware of such information

 

Compliance requirement under companies act, 2013 and rules made there under

Applicable Laws/Acts Due Dates

Compliance Particulars


Forms / Filing mode

Companies Act, 2013

Within 180 Days From The Date Of Incorporation Of The Company

As per Section 10 A (Commencement of Business) of the Companies Act, 2013, inserted vide the Companies (Amendment) Ordinance, 2018 w.e.f. 2nd November, 2018, a Company Incorporated after the ordinance and having share capital shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company with the ROC.

For companies fourth amendment rules pdf Visit Here

 
 Companies Act, 2013  

30 days from the date of deployment of this form on the website of Ministry/NFRA

Every existing body corporate other than a company governed by the NFRA Rules (Rule 3(1)), shall inform the (“NFRA”) about details of the auditor(s) as on 13th December 2018.

Visit here for the companies circular

 

Form NFRA-1

(e-form not yet deployed Ministry (ROC)) / NFRA

 Companies Act, 2013  

within 90 days from the date of notification

( earlier On or before 8th of May, 2019)

A person having Significant beneficial owner shall file a declaration to the reporting company i.e. within 90 days of the commencement of the Companies (Significant Beneficial Owners) Amendment Rules, 2019

Click Here for Companies owners Amendment Rules Pdf 

 

Form BEN-1

(not yet deployed by Ministry (ROC)

 Companies Act, 2013  Within 30 Days

Filing of form BEN-2 under the Companies (Significant Beneficial Owners) Rules, 2018.

(Within 30 days from the date of receipt of declaration in BEN-1)

Click Here for Companies owners Amendment Rules Pdf

 

Form BEN – 2

(e-form not yet deployed by Ministry (ROC)

 Companies Act, 2013  

On or before 15.06.2019

(form can be filed after due date with a fee of Rs. 10000 (one time fee)

Filing of the particulars of the Company & its registered office.

(by every company incorporated on or before the 31.12.2017.)

Due date extended- Link : Click Here

 

Active Form

INC -22A

 Companies Act, 2013  Within 30 Days from the date of deployment of revised e-form

DIN KYC through DIR 3 KYC Form is an Annual Exercise, however, the e-form presently is not designed in such manner and thus the due date for filing the e-form would be 30 days from the date of deployment of revised e-form.

Click Here

Penalty after due date is Rs. 5000/-(one time)

 

E-Form DIR – 3 KYC

( Revised E-Form, Not yet deployed)

 Companies Act, 2013  within 60 days from the conclusion of each half year

Reconciliation of Share Capital Audit Report (Half-yearly)

Pursuant to sub-rule Rule 9A (8) of  Companies (Prospectus and Allotment of Securities) Rules, 2014

Applicable w.e.f.  30.09.2019

Click Here

 

E-Form PAS – 6

(E-Form, Not yet deployed)

 Companies Act, 2013  29.06.2019

First DPT-3 for amounts which are NOT deposits (exempted deposits) outstanding as on 31.3.2019 AND received on or after 1.4.2014 

Auditor’s certificate is NOT mandatory 

Can be filed after comply with the penal provisions.

 

E –Form DPT – 3

(One Time Return)

 Companies Act, 2013  30.06.2019

Transaction during the year, which are deposits as well as and which are not deposits (exempted deposits) 

Auditor’s Certificate is mandatory. This is to be filled every year. 

Can be filed after comply with the penal provisions.

 

E –Form DPT – 3

(Half Yearly  Return)

Due dates of ROC Return Filings

Sl. No. 

Particulars

Due Date 

E- Form

1

Appointment of Auditor

With in 15 days from the conclusion of AGM

ADT-1

2

Filing of financial statement and other documents with the ROC

With in 30 days from the conclusion of the AGM, other than OPC 

(In case of OPC within 180 days from the close of the financial year)

AOC-4

3

Filing of annual return by a company.

With in 60 days from the conclusion of AGM

MGT-7

4

Filing of Cost Audit Report with the Central Government

With in 30 days from the receipt of Cost Audit Report

CRA-4

5

Filing of Resolutions and agreements to the Registrar

With in 30 days from the date of Board Meeting.

MGT-14

 

 

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