Corporate Updates – 05-05-2016


MCA in exercise of the powers conferred by sub-section (1) of section 458 of the Companies Act (18 of 2013), the Central Government being satisfied that circumstances warrant, hereby delegates the powers to appoint Inspectors for inspection of books and papers of a Company under sub-section (5) of section 206 as ordered by Central Government to the ‘Regional Directors’. according to Section 260(5), the Central Government may, if it is satisfied that the circumstances so warrant, direct inspection of books and papers of a company by an inspector appointed by it for the purpose.


CBDT has clarified that if a resident deductor is entitled for the refund of tax deposited under Section 195 of the Act, then it has to be refunded with interest under section 244A of the Act, from the date of payment of such tax. The clarification issued by board in consequence to decision of the Hon’ble Supreme Court of India in the case of Tata Chemical Limited. It is further advised that no appeal may henceforth be filed on this ground by officer of the Department and appeals already filed on this issue may not be pressed upon.

News from NIRC of ICSI

1. NIRC is organising Workshop on "Labour Laws – Compliance’s & Procedures" on Saturday, the 7th May, 2016 (Registration starts at 9.00 AM) from 10.00 am onwards at Auditorium, ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi Fee : Rs.500/- per delegate (Inclusive of Service Tax) including Corporate Members of NIRC, Online Payment Facility Available; Free For Members of Yuva Corporate Membership Scheme of NIRC; Program Credit Hours: 04.

2. Registration open for Regional Residential Conference to be held on May 20-21, 2016 (Friday and Saturday) at INFINITY RESORT, JIM CORBETT, Dist. Ramnagar, Dhikuli, Uttarakhand- 244715. Fee : Non-Residential – Rs. 2000/-; Residential : Rs. 8,250/-, Online payment option available. PCH –8.

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