On Tuesday, 2 March 2021, Hon’ble Governor of Haryana gave assent to the Haryana State Employment of Local Candidates Act, 2020, which provides 75% reservation to local candidates in Private Sector Haryana State Employment of Local Candidates Act, 2020 (Haryana Act No_3 of 2021). The reservation quota will apply for 10 years in Haryana State […]

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Government of India and various State Governments have been taking various measures to promote ease of doing business in India.  Proposed Labour Law Codes by Central Government, if implemented in an appropriate manner can have far reaching impact towards reducing the compliance burden on corporate without comprising the welfare of the work force. Government of […]

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The MSME Development Act, 2006 (‘MSMED Act’) strengthens the provisions relating to delayed payments to the Micro, Small and Medium Enterprises (‘MSME’) by specifying the maximum credit period and higher penal interest if delayed beyond that period. If there is a delay in payment, companies will have to mention the reason for such delay in […]

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The Consumer Protection Act, 2019 (“New Act”) Notification No. S.O. 2351(E) dated 15th July 2020 The Consumer Protection Act, 2019 (‘New Act’) received the assent of the President of India and was published in the official gazette on 9th August 2019. This New Act will replace the old Consumer Protection Act, 1986 (‘Old Act’). The New […]

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When an owner of unquoted equity shares (“Shares”) in a Company transfers the shares to any person, he is required to pay Capital Gain tax on the difference between the sale consideration received by him and the cost of acquisition of such shares (or the inflation indexed cost, wherever applicable). It is important to check […]

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RBI has replaced the present email-based reporting system for submission of the FLA return by web-based system online reporting portal, to enhance the security-level in data submission and improve data quality. It facilitates data submission by eligible entities {including the alternative investment funds (AIF) registered with the Securities and Exchange Board of India (SEBI) as […]

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The government has reduced the contribution under the Employees’ State Insurance (ESI) Act to 4% with effect from 1st July 2019 from 6.5%, a move expected to increase the take home salary of workers as well as reduce the financial burden of employers. The decision will benefit 36 million workers and 1.28 million employers. This […]

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