DIRECT TAX
The Central Government notifies that
all the provisions of the Agreement and Protocol for the elimination of
double taxation and the prevention of fiscal evasion and avoidance with
respect to taxes on income between India and Chile shall be given effect
to in the Union of India - Notification No. 24/2023 dated 3rd May, 2023
COMPANIES ACT, 2013
1. Establishment of C-PACE to provide hassle-free filing, timely and process-bound striking off companies from MCA Registry: The MCA vide Notification No. S.O. 1269(E) dated
17th March, 2023 has established the Centre for Processing Accelerated
Corporate Exit (C-PACE) to facilitate the quick, transparent and
process-bound exit of companies. With the establishment of C-PACE, the
striking-off process of companies has been centralised, resulting in
reduced stress on the MCA Registry. Also, this initiative is expected to
ensure hassle-free filing and timely striking off names of companies
from the Register.
[ Press release dated 13th May. 2023]
2. MCA brings more clarity on filing of overdue financials before applying
for striking-off: The authority has notified an amendment to strike-off
rules. The amendment provides more clarity on filing requirements of
overdue financials before applying for strike-off. As per the amended
norms, all pending and overdue financial statements under sect
