Formation of Company | Section 3-Company Act 2013 | India
September 30, 2020
(1) A company may be formed for any lawful purpose by— (a) seven or more persons, where the company to be formed is to be a public company; (b) two or more persons, where the company to be formed is to be a private company; or (c) one person, where the company to be formed […]
INDIA: An attractive destination for business-Company in India
September 23, 2020
Establishing a company in India – Overview Indian economy is one of the fastest-growing economies in the world with GDP growth of around 7 – 8% and a population of over 1 billion as per World Bank Data (2016). The statistics show that India as of now boasts of a profitable and stable economy and […]
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 […]
How to Register One Person Company in India
November 15, 2019
What is OPC? One Person Company (OPC) a separate legal entity with just one member. Unlike a private limited company which requires minimum 2 shareholders and 2 directors, an OPC can be formed with only one shareholder (there is a nominee director, but with no power until the original director is incapable of entering into contract). OPC is […]
Notice of General Meeting by Electronic Mode
October 9, 2019
Introduction Section 101 (1) of Companies Act, 2013 provides that a general meeting may be called by giving at least 21 clear days’ notice in writing or through electronic mode in such manner as may be prescribed. ‘Electronic means’ includes any communication sent by a company through its authorized and secured computer programme. Capable of […]
Latest Government Notifications on MSMEs
September 26, 2019
What are MSMEs Small and medium enterprises might be classified as such due to their smaller size, lack of scale and limited capital assets, yet interestingly enough, they form over 90% of the industry in India and employ a huge number of people (upwards of 100 million.) Studies confirm that after the agriculture industry, MSMEs […]
Check list for Boards’ Report under Companies Act, 2013
September 23, 2019
Introduction: Section 134 of the Companies Act, 2013 casts a responsibility on the Board of Directors to prepare a report containing details as discussed below and this report needs to be annexed to the Financial Statements which are laid before the members in the annual general meeting. Companies Act, 2013 also contains provisions regarding revision of […]
A QUESTIONNAIRE ON CORPORATE SOCIAL RESPONSIBILITY (“CSR”)
September 20, 2019
“Doing good is not a private act between a bountiful giver and a grateful receiver, it is a prudent social act”. – Benjamin Franklin The practice of Corporate Social Responsibility (“CSR”) as a paradigm for organizations and businesses to follow has evolved from its early days as a slogan that was considered trendy by some […]
Importance Of GST Compliance Rating Check
August 1, 2019
Importance Of GST Compliance Rating check The GST is in the process of steering India towards greater heights from 1st July 2017. Never before has there been such a huge tax reform in India. The GST is also bringing in new concepts like time of supply, mixed and composite supply and most importantly the GST […]
DECODING THE NEW BUSINESS VEHICLE OF INDIA: THE LIMITED LIABILITY PARTNERSHIP
July 31, 2019
DECODING THE NEW BUSINESS VEHICLE OF INDIA: THE LIMITED LIABILITY PARTNERSHIP Sahil Singhal & Vishal Nair Considered to be a convenient hybrid between a partnership and company, the Indian limited liability partnership is a business association that merges certain advantages of a partnership with those of a company. This paper traces the evolution of this […]
GETTING A LEG-UP IN LEGAL
July 31, 2019
Increasing Diversity by Increasing Access (IDIA), an initiative to improve diversity among India’s elite law schools. Across the world’s business markets, the legal profession is stuffed to the brim with the cream of corporate minds, the elite of the elites. But, in India, that wasn’t always the case. Despite being the first chosen career of […]
Difference Between: CGST Vs SGST Vs IGST
July 30, 2019
Difference Between: CGST Vs SGST Vs IGST Recently, the Goods & Services Tax (GST) was introduced and it replace over 10 other existing taxes levied by the central and state governments. The three main concepts that you need to know about are GST, Central GST and Integrated GST. From here, you will get to know […]
Important Aspects Of A Partnership
July 30, 2019
Important Aspects Of A Partnership People entering into an agreement to start and run a business are partners and the firm they thus form is called a partnership firm, and the name of such a company is called the firm name. A partnership is an agreement between two or more persons to work together on […]
Corporate Compliance For Foreign Entities In India
July 30, 2019
Corporate Compliance For Foreign Entities In India India is a fast growing economy and it is predicted that the country will emerge as one of the largest economies on a global scale in the next few decades. This is possible due to the policies introduced by the government such as Digital India, Make in India […]
GST Registration For Service Providers
July 23, 2019
GST Registration For Service Providers The Indian tax system is the most complicated one in the world with the Centre, the States and the local bodies having powers to levy variety of taxes to earn revenue. Various kinds of taxes are collected at different levels like the direct taxes which affect the common man directly […]