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The Tax Publishers Companies Act, 2013--Union Budget, 2021-22 Impact of Union Budget, 2021 vis-a-vis the Companies Act, 2013 Pragya Lalwani The Finance Minister of India presented a Digital Union Budget 2021-22 on 1st February, 2021 with path-breaking changes under certain legislations. This article highlights the amendments made under the Companies Act, 2013 in light of the Union Budget, 2021-22. 1. Introduction The Finance Minister, Nirmala Sitharaman has unveiled the Union Budget for the fiscal year 2020-2021 which has its impact on several Acts and legislations. Apart from Income Tax Act, 1961 and GST Act, it incorporates various amendments in the Companies Act, 2013 with a object of liberating compliance requirements and to boost the ease of doing business in India. It has its impact on small companies enjoying certain benefits over other companies in terms of compliance requirements and start-ups to be recognised as small companies. It allows OPCs to be incorporated without any restrictions and can be converted into any kind of company at any time. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Companies Act, 2013--Union Budget, 2021-22

Impact of Union Budget, 2021 vis-a-vis the Companies Act, 2013

Pragya Lalwani

The Finance Minister of India presented a Digital Union Budget 2021-22 on 1st February, 2021 with path-breaking changes under certain legislations. This article highlights the amendments made under the Companies Act, 2013 in light of the Union Budget, 2021-22.

1. Introduction

The Finance Minister, Nirmala Sitharaman has unveiled the Union Budget for the fiscal year 2020-2021 which has its impact on several Acts and legislations. Apart from Income Tax Act, 1961 and GST Act, it incorporates various amendments in the Companies Act, 2013 with a object of liberating compliance requirements and to boost the ease of doing business in India. It has its impact on small companies enjoying certain benefits over other companies in terms of compliance requirements and start-ups to be recognised as small companies. It allows OPCs to be incorporated without any restrictions and can be converted into any kind of company at any time.