Foreign Account holders beware; the Income Tax department has started issuing notices to persons having foreign assets about the disclosures of such assets and income accruing from them in the Indian IT Return.
Procedure for Change of name of a private limited company as per Companies Act’ 2013-This article describes the procedure for change of name of the company. The change in name entails change in the Memorandum and articles of association of the company.
This article describes the procedure for change in the Object Clause of the Memorandum of the company. First we should know how many clauses are there in the memorandum of any Company registered in India.
Things to remember while altering/ Amending/ Changing Memorandum of Association (MOA) or Articles of Association (AOA) under Companies Act’2013.
Recently, EPFO allowed its subscribers to file their PF withdrawal applications directly to the retirement fund body without employers’ attestation thereby easing the process of PF withdrawal by employees.
Identity proof of applicant-PAN is mandatory for Indian residents and passport is mandatory for foreign nationals. Address proof of applicant-Passport/Voter ID Card/Driving License/Aadhar Card not older than two months.Passport size photograph of the applicant.
Assessees beware!! The Government has started a new campaign called E-Sahyog to ask for information/response from assessees where there is mismatch found in information given by the assessees in the Income Tax return and that given to/by other third parties in respect of the assessee.
Requirements for conversion into LLP Consent of all shareholders should be obtained for conversion into LLP. All the existing shareholders of the company become the designated partners of the LLP in order to save tax. Latest copy of Income tax return is to be filed with ROC. Consent of all creditors of the company is needed. No prosecution should have been initiated under the Companies Act.
The time for preparation of the first financial statements as per the Companies Act’2013 is here. One of the most important provisions of the Act for Companies as well as the auditors to consider is the new method of the calculating depreciation as per Schedule II Part C of the Companies Act’2013.
These days there is a flurry of new businesses or start-ups being launched. As a start-up, you won’t want to get into a legal tangle especially with a very aggressive tax regime and a long incorporation process. To make sure your new business is handling its regulatory, tax obligations properly, run through these common mistakes that most start-ups make:
