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    The Finance Bill, 2026 sets company tax rates: domestic companies pay 25% if turnover/gross receipts for 2024-25 400 crore and under section 199, otherwise 30%; domestic companies may opt for section 200 at 22% with a 10% surcharge. Non-domestic companies are taxed at 35% on income not at special rates. Surcharges: domestic (excluding section 200/201 electors) 7% for income >1 crore 10 crore and 12% for income >10 crore; non-domestic 2% for >1 crore 10 crore and 5% for >10 crore. Marginal relief applies.

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      Companies Law

      MCA Announces Establishment of Central Processing Centre at IMT Manesar

      8 February, 2024

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      Notification No. S.O. 446(E) - Dated: 2-2-2024 - Central Government establishes a Central Processing Centre at Indian Institute of Corporate Affairs, IMT Manesar, District Gurgaon (Haryana)

      The Ministry of Corporate Affairs (MCA), Government of India, has issued a notification on 2nd February 2024, announcing the establishment of a Central Processing Centre. This centre is set up to streamline and enhance the processing of electronic forms (e-forms) related to company affairs under the Companies Act, 2013. Here’s a simplified breakdown of the key points from this notification.

      Central Processing Centre: Purpose and Location

      • Objective: The Central Processing Centre is established to process e-forms filed by companies across India efficiently. This move aims to expedite the handling of company filings and improve the overall ease of doing business.
      • Location: The centre is located at the Indian Institute of Corporate Affairs in IMT Manesar, Gurgaon (Haryana), with a nationwide jurisdiction.

      Operational Details

      1. Processing of E-forms:

      2. Jurisdictional Matters:

        • Despite the centralization of e-form processing, the jurisdictional Registrar of Companies (RoC) where a company’s registered office is located retains authority over the company. This authority covers all matters under the Companies Act, 2013, and its rules, except for the processing of e-forms, which is now the responsibility of the Central Processing Centre.

      3. Effective Date:

        • The notification and the operations of the Central Processing Centre are effective from 6th February 2024.

      Conclusion

      This establishment of the Central Processing Centre by the Ministry of Corporate Affairs marks a significant step towards centralizing and streamlining the processing of company filings in India. It aims to make the administrative process more efficient, allowing for quicker processing times and reducing the workload on local Registrar offices, while still maintaining their jurisdictional authority over companies for other matters under the Companies Act, 2013.

       

      Full Text:

      Notification No. S.O. 446(E) - Dated: 2-2-2024 - Central Government establishes a Central Processing Centre at Indian Institute of Corporate Affairs, IMT Manesar, District Gurgaon (Haryana)

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