Edtech firm Lido Learning files for insolvency: Ronnie Screwvala’s Unilazer Ventures-backed Quality Tutorials Pvt. Ltd, which runs edtech platform Lido Learning, has filed for insolvency, according to the company’s latest filings with the corporate affairs ministry. In a meeting early this week, Lido’s board passed a special resolution to file for the corporate insolvency resolution process under section 10 of the Insolvency and Bankruptcy (IBC) code, 2016. Lido Learning had asked more than 1,200 employees to resign in February 2022. The
Month: October 2022
Corporate and Legal Alert-September 2022
In this edition we have tried to bring you notice the latest amendment that followed in the month of September, 2022 issued by MCA, RBI, SEBI, DIPP and others. AMENDMENTS ISSUED BY MCA Amendment to Schedule III to the Companies Act, 2013 vide Notification GSR. 207(E) The notification mandates companies to round off the figures appearing in the Financial Statements depending upon their total income. However, if the companies provide absolute figures in e-forms ie. AOC-4, the same shall not be
Direct Tax Alert- September 2022
Vide this circular the Central Board of Direct Taxes (CBDT) has issued additional guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-Tax Act, 1961. Earlier, the CBDT had issued guidelines vide Circular no. 12 of 2022, dated 16th June, 2022. Vide this letter dated 16.09.2022 the Central Board of Direct Taxes (CBDT) has issued Guidelines on Compounding of Offences under the Income-tax Act, 1961 have been reviewed by the Board with a view to simplify
Indirect Tax Alert-September 2022
GST Calendar –Compliances for the month of October 2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) October 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) October 10, 2022 GSTR-1 October 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) October 13, 2022 GSTR-6 Input Service Distributor October 13, 2022 GSTR-2B (Auto Generated Statement) October 14, 2022 GSTR-3B October 20, 2022 GSTR-5 (Non-Resident Taxable Person) October 20, 2022 GSTR-5A (OIDAR Service Provider) October 20, 2022 PMT-06 (who have