ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

Two lakh companies under MCA's radar for non-compliance of taxation laws

New Delhi [India], Apr 29 (ANI): The Ministry of Corporate Affairs (MCA) on Saturday sent notices to around two lakh inoperative companies ordering them to terminate operations and de-register themselves from the MCA.

ANI Apr 29, 2017 18:49 IST googleads

Two lakh companies under MCA's radar for non-compliance of taxation laws
New Delhi [India], Apr 29 (ANI): The Ministry of Corporate Affairs (MCA) on Saturday sent notices to around two lakh inoperative companies ordering them to terminate operations and de-register themselves from the MCA. The decision comes after the aforementioned companies lagged behind in filing annual returns for several years. During the demonetisation phase, the Income tax Department and the Enforcement Directorate revealed the involvement of certain Shell companies in converting black money into white through their accounts. Owing to this, the Prime Minister's Office (PMO) setup a Task Force under the chairmanship of the Revenue Secretary Hasmukh Adhia to monitor the activities of these Shell Companies. "Total 15 lakh companies are registered with the MCA. Six lakh out of them are filling Income tax return while the rest pose a potential threat of indulging in money laundering. The PMO has setup a task force to monitor shell companies. We are going to monitor every 15 days," said Adhia. (ANI)

Get the App

What to Read Next

Business

Bridging the Tech Divide: How SSGSERV is Redefining White-Label

Bridging the Tech Divide: How SSGSERV is Redefining White-Label

New Delhi [India], March 12: In today's digital economy, enterprises depend heavily on uninterrupted technology infrastructure. As global SaaS platforms and OEM technology providers expand across markets, maintaining reliable customer and technical support has become a growing challenge. Companies are no longer looking for basic call center services but for specialized partners who can manage complex IT environments while maintaining speed, quality and brand consistency.

Read More
Business

'India’s non-bank lenders seen growing faster than banks'

'India’s non-bank lenders seen growing faster than banks'

India's non-bank financial companies (NBFCs) are expected to expand faster than traditional banks over the coming decade as lenders adopt artificial intelligence and expand into new loan segments, according to a research report by Nomura.

Read More
Business

Salary-Weighted H-1B Visa Selection: STEM graduates

Salary-Weighted H-1B Visa Selection: STEM graduates

Bengaluru (Karnataka) [India], March 12: MPOWER Financing, a leading global firm enabling high-potential international students to pursue higher education abroad, has shared its assessment of the newly announced changes to the U.S. H-1B visa program. MPOWER's internal modeling, based on the past several years of H-1B results, suggests that the shift from a random lottery to a wage-based selection would have a neutral or even positive impact for Indian Master's STEM graduates.

Read More
Business

Oil Marketing Companies to ration LPG supplies amid West Asia con

Oil Marketing Companies to ration LPG supplies amid West Asia con

Due to the current West Asia geopolitical situation and blockade on LPG imports, available supplies are being carefully rationed to ensure wider coverage, with domestic households being the top priority. The three major state-run oil marketing companies (OMCs) have initiated a judicial distribution strategy to manage the available Liquefied Petroleum Gas (LPG) stocks.

Read More
Business

'Our gas companies have procured LNG cargoes from new sources'

'Our gas companies have procured LNG cargoes from new sources'

Sharma said two LNG cargos are on their way to India

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.