SIMPLIFIED PROFORMA FOR INCORPORATING COMPANY ELECTRONICALLY (INC-32)
January 20, 2020
As per MCA notification dated 29th December 2016, the Ministry of Corporate affair of India amended the incorporation rule and introduce new incorporation procedure called Simplified Performa for Incorporating Company Electronically (SPICe). Rule 38 has now been inserted in Companies incorporation rules, 2014 and following new e- forms has been introduced: INC-32 for Form for […]
RESERVE UNIQUE NAME
January 20, 2020
To begin any business, the most important step is to select and reserve a unique name that describes the goods or services provided by the business aptly and yet it is unique. The name shall bring distinction to the business such that it stands out in the market. Further, when the business is being registered, […]
SECTION 609 REGISTRATION OFFICES
January 20, 2020
(1) For the purposes of the registration of companies under this Act, there shall be offices at such places as the Central Government thinks fit. (2) The Central Government may appoint such Registrars and such Additional, Joint, Deputy and Assistant Registrars as it thinks necessary for the registration of companies under this Act, and may […]
REGISTRAR OF COMPANIES
January 20, 2020
Registrars of Companies (ROC) appointed under Section 609 of the Companies Act covering the various States and Union Territories are vested with the primary duty of registering companies and LLPs floated in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the Act. These offices […]
COMPANIES ACT 2013
January 20, 2020
The Companies Act, 2013 passed by the Parliament has received the assent of the President of India on 29th August 2013 and came into force on 12th September 2013. The Act consolidates and amends the law relating to companies, it has replaced The Companies Act, 1956 (in a partial manner). The changes made were like […]
COMPANY FORMATION IN INDIA
December 4, 2019
Company is a a legal entity, allowed by legislation, which permits a group of people, as shareholders, to apply to the government for an independent organization to be created, which can then focus on pursuing set objectives, and empowered with legal rights which are usually only reserved for individuals, such as to sue and be […]
TYPES OF COMPANY ACCORDING TO COMPANIES ACT, 2013
December 4, 2019
INTRODUCTION The Companies Act, 2013 provides for the kinds of companies that can be promoted and registered under the Act. The three basic types of companies which may be registered under the Act are: Private Companies; Public Companies; and One Person Company (to be formed as Private Limited Company) Section 3 of the Companies Act […]
COMPANY FORMATION: BASICS
December 4, 2019
Meaning of a Company A company, abbreviated as co., is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. Company members share a common purpose, and unite to focus their various talents and organize their collectively available […]
Income Tax Assessment
December 4, 2019
Every assessee, who earns income beyond the basic exemption limit in a Financial Year (FY), must file a statement containing details of his income, deductions, and other related information. This is called the Income Tax Return (ITR). Once you as a taxpayer file the income returns, the Income Tax Department will process it. There are […]
INCOME TAX RETURN
December 4, 2019
What is Income Tax ? Taxes in India can be categorized as direct and indirect taxes. Direct tax is a tax you pay on your income directly to the government. Indirect tax is a tax that somebody else collects on your behalf and pays to the government eg restaurants, theatres and e-commerce websites recover taxes […]
Basic difference between trademark, copyright and patent
November 19, 2019
Intellectual property is a vast and complex term. Many a time people are confused or have incorrectly used the terms used in intellectual property law. They have spoken of “copyrighting” an idea or even “patenting” a book! To understand these terms, it is essential to know what is Intellectual Property and what all does it […]
Company Registration for NRIs and Foreign Nationals in India
November 19, 2019
Private Limited Company is considered to be the most ideal form of business for NRIs, foreign nationals and for foreign entities who want to set up business in India. According to FEMA guidelines, Foreign Direct Investment (FDI) is not allowed in other types of businesses like Proprietorship, Partnership Firm and One Person Company. Though investment […]
New definition of Startup
November 19, 2019
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Department of Industrial Policy and Promotion (DIPP), the nodal body for Startup India, taking into account the […]
One Person Company (OPC) vs Proprietorship
November 19, 2019
Although the terms “proprietorship” and “one person company” give the same idea of Business being run and managed by one owner but there are major differences between the two. Proprietorship is a very common and traditional form of business in India. Because of its simple features, it is widely adopted by people to set up […]
How to register Startup in India
November 19, 2019
Start-up India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities. This articles explains how to register Startup in India. A startup is a new or existing business, usually […]