Definition-A Section-8 Company is a Company which (a) has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object; (b) intends to apply its profits, if any, or other income in promoting its objects; and (c) intends to prohibit the payment [...]
Governing Sections: Payment of managerial remuneration is governed by following provisions under Companies Act 2013 Section 196 -Appointment of Managing Director, Whole Time Director or Managers Section 197 -Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits Section 198-Calculation of Profits to determine Net profit Appointment and Remuneration of [...]
WHILE EXCHANGING LOANS CORPORATE SHALL ADHERE TO FOLLOWING SECTION AND THE RULES MADE THEREUNDER I Accepting Loan from other companies In pursuance of Section 179 -Power of Boards of Companies Act 2013 every company shall pass a Board Resolution to borrow money Further in pursuance of Sec 180 -Restrictions on Power of Board and amendment [...]
Introduction Sometime is it become mandatory for the shareholders to apply for the duplicate share certificate. The same may be required in following cases: a. Old Certificate is destroyed; b. Old share certificate is lost or misplaced; Governing Provisions Issue of Duplicate Share Certificates are governed by following provisions: a. Articles of Association of Company [...]
APPOINTMENT OF ADDITIONAL DIRECTOR The Directors are the person who controls the day to day affairs of the Company on behalf of the Promoters/Shareholders. As per Section 2(34), of the Companies Act, 2013, "director" means a director appointed to the Board of a company. They are the person who are appointed by the shareholders in [...]
Every company after its registration whether its Public limited Company or private limited company, there are number of compliance which a company needs to comply on day to day basis. But after some time when the business of the company expands, then the company require fund for its expansion, and one of the way which [...]
What does Registered Office Means? Every Company must have one principal place of business where it carries on its business activity which is in case of Company known as registered office. The registered office is very important from the perspective of general public, shareholder, customer, vendors and for various other points of view. It is [...]
Background Name of any company play a key role in signifying its importance and main objective for achievement of goal for which its being incorporated by the person. So it is very important for the owner of the business to take extra precautions and time to decide the name of the Company as it must [...]
Introduction In India, concept of one person company (OPC) is newly introduced by the Companies Act, 2013, and the rules made thereunder from time to time, through which even a single person can also form a company for any lawful purpose by subscribing his/ her name into the memorandum of association means by becoming shareholder [...]
Each one of us, be it a corporate or a natural person deal with the Chartered Accountant (CA) for their opinion on one or more of financial transaction entered upon. We do engaged them or avail their service for matters related to Income Tax Return filing, Financial Planning andAdvisory, GST Registration and GST Return, Tax [...]
