Memorandum of Association of the Company is the foundation of any company which is being incorporated. Memorandum defines the scope and power and rights within which a company operates. Detailed lists of activities to be performed by the Company after it is incorporated are mentioned in Object Clause of Memorandum of Association. Activities to be […]
Clarification on passing of Ordinary Resolution (OR) & Special Resolution (SR) by Companies under the Companies Act, 2013 and Rules made thereunder subject to the Current Situation due to Covid 19. Relevant Circular: MCA Circular 17/2020 dated 13.04.2020 Purpose of the Circular: 1. To give more clarification on the elements of the framework laid down […]
Liability of Purchase Tax under Section 12 of the Tamil Nadu Value-added Tax Act, 2006 was not attracted in case assessee’s turnover was also below Rs. 300 Crores during the year.
International Flavours and Fragrances India Private Limited Vs DCIT (Madras High Court) The issue under consideration is whether the notice issued u/s 147 for re-opening the assessment is justified in law? Petitioner is engaged in manufacture of flavour essences, mixed seasoning powders (dry mix) and formulated perfumery compounds etc. The petitioner started a new manufacturing […]
Support and reduction in Employee’s Provident Fund (EPF) contribution for businesses and workers by the GOI The wage-earners earning below Rs.15000/- per month in businesses having less than 100 workers are being supported by the Government of India (GOI) by way of Pradhan Mantri Garib Kalyan Package (PMGKP). On 26th March 2020, FM has proposed […]
Nidhi Company Registration Ideal for Financial and Banking Services with many exemptions from various Regulations What is a Nidhi Company and its Incorporation? A Nidhi Company is a Structured small financial services provider which enjoys many exemptions from RBI regulations and other acts as well. Nidhi Company is a business structure incorporated under Section 406 […]
Notification No. 08/2020-Customs (ADD)– Seeks To Impose Anti-Dumping Duty on Import of Sodium Citrate Originating In Or Exported From China RP For A Period of Further 5 Years. MINISTRY OF FINANCE (Department of Revenue) Notification No. 08/2020-Customs (ADD) New Delhi, the 19th May, 2020 G.S.R. 302(E).—Whereas, the designated authority, vide notification No.7/21/2019-DGTR, dated the 25th […]
Tariff Notification No. 45/2000-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 45/2000-Customs (N.T.) New Delhi, the 19th May, 2020 S.O. 1520(E).—In exercise of the powers conferred by […]
What is Nidhi Company? A Nidhi Company is a Company which carries on the business of accepting deposits and lending the same on demand. Nidhi Company is similar to NBFC but the only basic difference between the two is that Nidhi Companies accept deposits only from its members. The main aim of these companies is to work […]
SELECT THE TYPE OF COMPANY Section 3(1) of the Companies Act, 2013 provides that a company may be formed for any lawful purpose by: 1. Seven or more persons, where the company to be formed is to be a public company; 2. Two or more persons, where the company to be formed is to be […]
