Corporate Compliance Calendar for the Month of February 2022

Corporate Compliance Calendar for the Month of February 2022 ABOUT ARTICLE: This article contains various Compliance requirements for the Month of Fe…

CS Lalit Rajput

Feb 12, 2022

Last update on Feb 12, 2022

Corporate Compliance Calendar for the Month of February 2022 ABOUT ARTICLE: This article contains various Compliance requirements for the Month of February, 2022 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure. If you think compliance is expensive, try non‐ compliance” Compliance Requirement Under 1. Income Tax Act, 1961 2. Goods & Services Tax Act, 2017 (GST) and Important Updates / Circulars 3. Companies Act, 2013 & LLP Compliance (MCA/ROC Compliance) and Notifications 4. Foreign Exchange Management Act, 1999 (FEMA) and Important Notifications 5. Other Statutory Laws and Updates 6. SEBI (Listing Obligations & Disclosure Requirements) (LODR) Regulations, 2015 7. SEBI Takeover Regulations 2011 8. SEBI (Prohibition of Insider Trading) Regulations, 2015 9. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 10. SEBI (Buyback of Securities) Regulations, 2018 11. SEBI (Depositories and Participants) Regulations 2018) and Circulars 12. Insolvency and Bankruptcy Board of India (IBBI) Updates 13. Competition Commission of India

1. COMPLIANCE REQUIREMENT UNDER INCOME TAX ACT, 1961

Income Tax Due Date - Extensions

IMPORTANT NOTIFICATIONS – For the month of January - 2022:

Sl.	Particulars of the Notification(s)	File No. / Circular No.	Link(s)
1	Income Tax department detects anomalies in 2 Chinese mobile firms	Tax News	Click Here
2	One-time relaxation for verification of all income tax-returns e-filed for the Assessment Year 2020-21 which are pending for verification and processing of such returns - reg.	Circular No. 21 / 2021	Click Here
3	The Income-tax (34th Amendment) Rules, 2021	Notification No. 138/2021	Click Here
4	The Faceless Appeal Scheme, 2021.	Notification No. 139/2021	Click Here
5	The Income-tax (35th Amendment) Rules, 2021	Notification No. 140/2021	Click Here
6	Income Tax notification to give effect to the Faceless Appeal Scheme, 2021	Notification No. 141/2021	Click Here
7	‘Regional Air Connectivity Fund Trust (PAN AADTR1130P),	Notification No. 1/2022	Click Here
8	Searches conducted by Income Tax Department largely in Uttar Pradesh and Maharashtra	Press Release ID: 1787764	Click Here
9	Evasion of Customs duty of Rs. 653 crore by M/s Xiaomi Technology India Private Limited	Press Release ID: 1787686	Click Here
10	Extension of timelines for filing of ITRs and various reports of audit for the Assessment Year 2021-22– reg	Circular No. 01/2022	Click Here
11	Central Government hereby notifies for the purposes of the said clause, ‘International Financial Services Centres Authority’	Circular No. 03/2022	Click Here
12	Income tax (1st Amendment) , Rules, 2022.	Circular No. 06/2022	Click Here
13	Income Tax Department conducts searches in Kerala	Press Release ID 1788947	Click Here
14	Guidelines under clause (10D) section 10 of the Income-tax Act, 1961 - reg.	Circular No. 02/2022	Click Here
15	CBDT notifies National Skill Development Corporation for exemption U/s. 10(46)	Notification No. 10/2022	Click Here
16	The Securities Transaction Tax (1st Amendment), Rules, 2022	Notification No. 09/2022	Click Here
17	The Income tax (2^nd Amendment) Rules, 2022.	Notification No. 08/2022	Click Here
18	The “e-advance rulings Scheme, 2022”.	Notification No. 07/2022	Click Here

2. COMPLIANCE REQUIREMENT UNDER GST, 2017

A. Filing of GSTR –3B

a) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

b). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

c). Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

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About Author

CS Lalit Rajput

Company Secretary

Lalit Rajput is a qualified Company Secretary and graduate with 5+ years’ experience in handling Secretarial and Compliance management. Working as Proprietor at Lalit Rajput &Associates, Company Secretaries and Compliance Head at EDUXGURU. Key areas include handling Compliances related to Secretarial, Start-ups, SEBI, FEMA, Labour Laws, GST, NCLT, IPR, MCA/ROC, RTA etc. He has started his career in Adventz Group with one of leading EPC Company, Kalindee Rail Nirman - A Div. Of Texmaco Rail & Engineering Limited (erstwhile known as Kalindee Rail Nirman (Engrs.) Ltd.) and after that worked with Outcome Solutions & Services LLP, a Risk Advisory firm and S. Srinivasan & Co.,Leading Company Secretaries firm in Mumbai and Chennai. He is also an active blogger/Author at many platform and has written various articles on: Taxguru, Compliance Calendar LLP, Studycafe, Caclubindia, Casansaar, theTaxTalk, Lawyer’s Connect, IPleaders, Governance Professionals, Lawyers club India, Dealout Professionals and many more. He has also blogger at ENLIGHTEN GOVERNANCE and contributed articles in ICSI E-Corporate Manager published by ICSI Ahmadabad Chapter.