PRE-INCORPORATION COMPLIANCE:
1. MEMBERS: Minimum: 7 Members
2. Directors: Out of the above 7 at-least 3 should be Directors
3. Minimum Paid up equity Share Capital: Rs. 5 Lakhs
4. No Preference Shares are allowed to be issued. If an existing company has preference shares and wan…
The license is given if the business complies with certain rules and regulations laid down by the corporation and safety authorities of the state. The application …
MANDATORY ANNUAL FILING FOR PRIVATE LIMITED COMPANIES UNDER COMPANIES ACT 2013
Every Private Limited Company is required to file following two forms compulsorily:
AOC-4 is required to be filed within 30 days from the end of Annual General Meeting (AGM). For the purpos…
INCOME TAX DEDUCTION FROM SALARIES U/S 192 OF INCOME TAX ACT, 1961 FOR FINANCIAL YEAR 2019-20
First let us take a look at the rates of Income tax as per the Finance Act, 2019:
Tax to be deducted at normal rates:
Grants and loans by State Government (Section-70):-The State Government may, after due appropriation made by State Legislature by law in this behalf, make to the Authority, grants, and loans of such sums of money as the State Government may think fit for being utilized for the purposes of this Act.
…TEH WEST BENGAL HOUSING INDUSTRY REGULATION ACT, 2017
Offences and Penalties:-
The taxability of capital gains arising on transfer of title to land from the landowner to the developer in a Joint Development Agreement (JDA) can be summarised as under-
Determination of date of Transfer:
Sub-section (5A) in section 45 of the Income Tax Act, 1961 provides that the capital ga…
A private company may issue securities through 3 methods to raise capital:-
a) Through the issue of bonus shares
b) Through the issue of right shares
c) Through private placement
Private Placement (Section 42) refers to an offer made to a particular group of persons by a company by…
Under the Startup India Action Plan, startups eligible are required to apply for recognition.
The government is now considering giving complete exemption to startups from angel tax once they are certified by the Commerce and Industry Ministry to help growing entrepreneurs.
Multiple Startups a…
Filing of e-Form INC-22A: Active Company Tagging Identities and Verification (ACTIVE)
MCA has issued a notification on 21.02.2019, and brought amendment by Companies (Incorporation) Amendment Rules, 2019, wherein certain new statutes have been introduced,
Any entity cannot import or export without having a valid IEC Number. It is a mandatory requirement without which facilitation of import or export cannot be done. So, the question of what is IEC number naturally arise.
Well, it is a 10 digit code number which is issued by DGFT(Director General …
The introduction of LLP (Limited Liability Partnership) under the Limited Liability Partnership Act of 2008 in India has brought many advantages along with it such as
DORMANT COMPANY – AN OUTLOOK
According to section 455 of Companies Act, 2013 Dormant Company is an inactive company which has not been carrying any business or has not made any significant accounting transaction in the last two financial years.
i) “inactive company” means a company whic…
PRODUCER COMPANY – AN OVERVIEW
Producer Company is a company registered under the Companies Act, 2013, which has the objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling and export of primary produce of the Members or import of goods or services for t…
Filing of annual ROC returns
What are annual filings?
Companies incorporated under the Companies Act 1956 or Companies Act 2013,Form 23AC : For filing Balance Sheet (applicable to all Companies other than select class of Companies) are supposed to annually file eForms with the Registrar …
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SPICe- Simplified Proforma for Incorporating Company Electronically
A newly introduced INC-32 or SPICe by MCA is a simplified version of registration of companies in India. MCA has replaced INC 29 with INC-32 with linked forms for eAOA- INC-34 and eMoA-INC 33. The modifications in the form are ma…