Highlights of Union Budget 2021-22 – MCA, Companies Act, LLP Act

by CA Nimesh Hariya | Feb 1, 2021 | Income Tax Update | 0 comments

Easing Compliance requirements of Small Companies – Threshold increased to Share Capital upto Rs.2 crore and Turnover upto Rs.20 crore will be Small Companies
Allow One Person Companies (OPC) to grow without any restriction in Share Capital or Turnover. NRIs will be allowed to set-up OPCs. Presence in India of 120 days in a year enough to start an OPC.
Launching MCA Version 3.0 – E-Scrutiny, E-Adjudication and Compliance management to be simplified.
Decriminalization of LLP Act, 2008
Tribunals to be rationalized

← Highlights of Union Budget 2021-22 - Direct and Indirect Tax CBDT notifies all ITR Forms 1 to 7 for AY 2021-22 →

Written by CA Nimesh Hariya

CA Nimesh R Hariya is a member of the Institute of Chartered Accountants of India (ICAI) since 2015. He also qualified as ISA, CS, M. Com. He has been conducting Statutory & Tax audit, Internal audit of large & medium scale Limited Companies, Carrying out Bank Audits and providing services in the field of accounts, Income Tax & Company Law matters.

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Highlights of Union Budget 2021-22 – MCA, Companies Act, LLP Act

Written by CA Nimesh Hariya

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