FSSAI stands for Food Safety and Standards Authority of India. every food operator involved in manufacturing, processing, distribution of food in India must need to obtain FSSAI registration or license. it ensures that the food product undergoes with quality checks it reduces the chance of food adulteration. FSSAI registration is required by petty food business […]
HUF means HINDU UNDIVIDED FAMILY. HUF is taxed separately from an individual i.e. its members. Only Hindu, Janis, Buddhists and Sikhs family can come together and form a HUF. HUF is a separate entity under the Income Tax Act and has its own PAN and files Income Tax Returns independent of its member. Hindu Succession […]
Mumbai Police Commissioner prohibits movement of any person in public using any vehicle, unless a sticker (Red, Green, Yellow colour) of circular shape of 6 inches diameter of the following description is affixed visibly on the front screen and rear screen of the vehicle, and in the case of two-wheelers on a visible portion on […]
Trade Union & Dispute Settlement under Industrial Relation Code 2020. On September 28th, the Lok Sabha passed 3 new labour codes namely the Industrial Relations Code, 2020, the Occupational Safety, Health and Working Conditions Code, 2020 and the Code on Social Security, 2020 among which Industrial Relations Code has encompassed The Industrial Disputes Act, 1947 […]
The inspection, inter-alia, revealed that the insurer had been transacting motor insurance business through certain Automobile Dealers without appointing them as Motor Insurance Service Providers (MISP) to distribute and/ or service motor insurance policies. Based on the motor insurance premium register for the period 1st November, 2017 to 31st January, 2018, submitted by the insurer during the inspection, it was observed that the insurer had transacted the insurance business through automobile dealers who were not appointed as MISPs.
Retirement planning is not an easy task. It requires an organized approach to ensure that life post retirement for a person remains worry free for an individual. Since in our country, social security is conspicuous by absence for majority of people, it becomes very important for a person to prepare for retirement as early as […]
The IBC region witnessed another IBC amendment ordinance 2021 that provides relief to the micro, small and medium enterprises. Any default of one crore or less can be initiated under the pre-packaged process by the corporate debtor.
As per Section 2(68) of Companies Act, 2013, “Private Company“ means a company having a minimum paid-up share capital as may be prescribed, and which by its articles: > restricts the right to transfer its shares; > except in case of One Person Company, limits the number of its members to two hundred: Provided that […]
While browsing the website of the prestigious Bank of England, I happened to come to the following interesting study on the U.K. economy published by the Bank based on its 12 agents’ discussions with at least 700 businesses across the UK for the first quarter of 2021. The heads covered were consumer demand, business, and […]
1. Changes in Companies (Audit and Auditors) Rule 2014: – The auditor’s report shall also include their views and comments on the following matters: > Whether the management has represented that, other than as disclosed in the notes to accounts, no funds have been advanced or loaned or invested (either from borrowed funds or share […]
