Corporate Updates 01-08-2014


MCA has issued the Clarification with regard to applicability of provisions of section 139(5) and 139(7) of the Companies Act, 2013 to clear the doubts on the applicability of these Section where appointment of auditors by Comptroller and Auditor General of India (C&AG), to ‘deemed Government Companies’ referred to in section 619B of the Companies Act 1956. It is clarified that the New Act does not alter the position with regard to audit of such deemed Government companies through C&AG and thus such companies are covered under sub-section(5) and (7) of section 139 of the New Act. In case of newly incorporated company, it will primarily be the responsibility of the company concerned to intimate to the C&AG about its incorporation along with name, location of registered office, capital structure of such a company immediately on its incorporation.


Filing of online return for1st quarter of 2014-15 is extended by Commissioner, Value Added Tax. Now the last date of filing of online/hard copy of first quarter return for the year 2014-15, in Form DVAT-16, DVAT-17 and DVAT-48 along with required annexure/enclosures is extended upto 08/08/2014. However, the tax due shall continue to be paid in the usual manner as per the provisions of section 3(4) of the Delhi Value Added Tax Act, 2004. The dealers filing the returns through digital signature need not be required to file hard copy of the return/Form DVAT-56.

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