Existing company, Ratnamani Engineering Limited Now Ratnamani Metals and Tubes Limited , doing fraud do not take any action by M C A for more than 20 years against the contravention of the Companies Act Section 205 of the Companies Act 1956!!!!!!!!
NEW DELHI, DEC 05, 2014: COMPANIES which, after raising funds through Public issues, fail to file documents and balance sheets and become untraceable are called 'Vanishing Companies'. Initially 238 such companies were identified. Out of these, 128 companies subsequently started filing their returns etc. and therefore they are no longer regarded as 'Vanishing Companies' and are subjected to special monitoring by being kept under a 'watch list'. Out of the remaining companies 32 are now under liquidation. As on date, there are 78 companies in the 'vanishing companies' category. The total amount raised by these 78 companies was Rs. 310.21 crore (approx.).
A Coordinating and Monitoring Committee already exists to identify and monitor the activities of such companies. FIRs have been lodged against all 78 companies and their Directors to trace their whereabouts and also to take action against them under Indian Penal Cord (IPC). Prosecutions have also been filed against such companies and their Directors under sections 162 and 220 of the Companies Act, 1956 for non-filing of annual returns and balance sheet, respectively and also under sections 62/63, 68 and 628 of the Companies Act, 1956 for mis-statement in prospectus/fraudulently inducing persons to invest money/false statements made in the offer documents, etc.
The Ministry has also undertaken proactive measures of sensitizing the people through organizing investors awareness programmes. These programmes are organized regularly in association with the Institute of Chartered Accountants of India (ICAI), Institute of Cost Accountants of India (ICAI) and Institute of Company Secretaries of India (ICSI) under the Investor Education and Protection Fund (IEPF) for creating awareness and empowerment among the investors. Since 2012-2013, the Ministry has also started organizing such programs in rural areas through CSC e-Governance Services India Ltd. a company under Department of Electronics and Information Technology. During 2013-14, 2897 such programs were conducted.
This was stated by Mr Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today. CPC (TDS) Intimating Outstanding TDS demand from FY 2007-08 onwards-Reg
Nowadays CPC (TDS) has started intimating deductors TDS demands outstanding for various reason via emal and format of one such notice is as follows :-
Dear Deductor, (TAN: ___________),
Please refer the subject above.
As per the records of the Centralized Processing Cell (TDS), there is an outstanding demand in different years from 2007-08 onwards on account of defaults identified in TDS statements. Table below shows year wise outstanding demand on account TDS defaults as on October 23rd 2014. Intimation u/s 154 read with section 200A of the Income Tax Act, 1961 intimating the outstanding demand for different years have already been sent by Income Tax Department on Registered email address and by post, at the address, as mentioned in the relevant TDS Statement.
| Fin. Year | Short Payment Amount | Short Payment Interest | Short Deduction Amount | Short Deduction Interest | Late Payment Interest | Late Deduction Interest | Late Filing Fee | Other Interest | Total Demand |
| 2007 | |||||||||
| 2008 | |||||||||
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| 2014 |
Justification report for default can be downloaded TDS statement wise from TRACES. www.tdscpc.gov.in
Short payment default may be on account of mismatch in challan particulars as quoted by you in TDS statement with the challan particulars as per OLTAS. You are requested to close the short payment default through "tagging" of correct challan using "online correction" facility at TRACES portal www.tdscpc.gov.in In case of any clarification, you may contact your assessing officer and can also send e-mail at info@tdscpc.gov.in.
It is to inform that while downloading TDS certificate (Form 16/16A), you would be prompted to first close the 'short payment' default if any. As the next due date for download of form 16A is 31st January, you are requested to close your defaults well in advance to avoid any issue in downloading of TDS certificates for third quarter of 2014-15.
You are requested to file correction statement after making tax payments, if required, TRACES has provided online correction facility in this regard.
For any assistance, you can write to info@tdscpc.gov.in. or call our toll-free number 1800 103 0344.
CPC (TDS) is committed to provide best possible services to you.
CBDT issues Note on Publicity campaign at IITF, 2014
The Departments public outreach on the Taxpayers Services wins laurels! The Taxpayers' Lounge set up by the Directorate of Income Tax (PRPP&OL) was awarded 'Silver' medal for excellence in display in the category of Ministries and Departments in the 34th India International Trade Fair, 2014 in the award ceremony held on 27th November 2014. The award was presented by Dr. Mahesh Sharma, Minister of State (I/C) for Culture & Tourism and Min. of State for Civil Aviation at an impressive ceremony in the presence of representatives of various foreign participants, States, PSUs, Ministries & Business organisations.
The Taxpayers' Lounge is a major step by the Department to generate awareness in the public about the various taxpayer-friendly initiatives taken by the Department. Through the Taxpayers' Lounge, various taxpayer services like e-filing of returns, viewing of tax credit through 26AS, applications for PAN and services of Tax Return Preparers were showcased to the public.
Activities such as Nukkad Natak, Magic Show, Drawing Competition and Quiz Contest to engage with school children and youth were also organized in the Lounge to generate interest and awareness about taxation in a fun manner as they are potential taxpayers of the future.
A new initiative during IITF, 2014 was the focus of the Department on outdoor branding at the fair venue in the form of wall branding, banners on electric poles and publicity through LED walls set up by ITPO at various prominent locations within the Pragati Maidan which generated independent publicity for the Department but also motivated the general public to visit the Taxpayers' Lounge. Additional publicity in the form of a Splash Screen on mobile App of IITF, 2014 was introduced for the first time alongwith a web banner ad on the Home page of IITF, 2014 which resulted in effective advertisement and publicity for the Department. As per the statistics, the number of downloads of Mobile App is 11,608 and the number of hits recorded for the IITF website exceeded one crore. The Department also invited its own ace caricature artist Shri B. Sajiv, ACIT, Coimbatore, who did 100 to 150 caricatures of the taxpayers everyday with a publicity message on every caricature. During the entire period of the trade fair approximately one lakh persons visited the Pavilion.
The Lounge was also given wide coverage by the print and electronic media.
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