MCA
MCA has issued clarification w.r.t the issue of duplicate shares to the IEPF Authority. It has been stated that since transfer of shares to IEPF under Section 124(6) of the Companies Act, 2013, takes place on account of operation of law hence the procedure followed during transmission of shares may be followed in such cases and duplicate shares need not to be issued in such cases. The MCA has clarified that the procedure similar to what is followed in case of transmission of shares may be followed by companies while transferring shares to IEPF Authority pursuant to Section 124(6) of the Companies Act, 2013 read with applicable rules.
CBDT
CBDT has notified the Income-tax (10th Amendment) Rules, 2017 which shall come into force from the date of their publication in the Official Gazette. In the Income-tax Rules, 1962, in Rule 31(3), the deadline to furnish Form 16 to employees extended till June 15 from 31st day of May every year. The Rule 31(3) provides for due date of furnishing of Form 16 (relating to TDS) to the employees; specifying that the employer is required to furnish Form 16 to the employees by June 15, 2017 following the financial year (FY) in which salary was paid and tax was deducted.