In this editorial, Author shall discuss about concept of deposit in relation to most common question between professionals i.e. ‘If a Company accepted loan from an Individual and such individual is Director as well as shareholder of the Company. Whether loan from such person shall be considered as Loan from Shareholder of Loan from Director? […]
In this editorial, Author shall discuss about concept of Beneficial Interest, meaning of beneficial owner, registered owner, compliances in case of beneficial interest etc. A. REGISTERED OWNER: He is a person, whose name shall be enter into register of members but who does not hold the beneficial interest in such shares, legal interest vested with […]
In this editorial, Author shall discuss about ‘Management Services’ which are not allowed to be provided by Statutory Auditors. A. Restricted Services by Auditor: An auditor appointed under this Act shall not provide the following services directly or indirectly to the company or its holding company or subsidiary company: – √ accounting and book-keeping services; √ […]
LLP Amendment Bill 2021 In the Budget 2021, our hon’ble financial minister announced about Amendment in LLP Act. In continuation of same, Ministry of Corporate Affairs issued a press release on 03rd February 2021. MCA initiates process of De-criminalisation of compoundable offences of LLP Further in continuation of the same Wednesday, 28th July, 2021 Cabinet […]
MCA has issued two notification on 22nd July, 2021, Commencement of Section 4 of Companies (Amendment) Act, 2021 and Companies (Incorporation) Fifth Amendment Rules, 2021. As per notification, both the notifications came into effect from 1st September 2021. A. ANALYSIS OF NOTIFICATION – ONE: (Amendment in Section 16) By this notification, the Central Government has […]
In this editorial, Author shall discuss about concept of Signing of Financial Statement of Company (OPC, Small, Private, Public, Listed etc). Further, author shall try to answer the following questions: 1. How Many directors must sign the financial statement? 2. Whether, Chairman of Meeting solely sign the Financial Statement? 3. Can an independent Director sign […]
The Companies Act, 2013 introduced a new concept of ‘small company’. Its simply a Private Company but with less capital and turnover size. This move of the Government has played a significant role in establishing indefinite companies in India benefiting them in terms of compliance requirements. The Hon’ble Finance Minister Mrs. Nirmala Sitharaman had presented […]
Petrol prices in India crossed a century sometime back and almost half of 2/3rd of that are just Taxes. So who is responsible for this much price rise, centre or state? To answer this question, we need to understand the tax, we pay on fuel in India and reasons that can play a part in […]
In this write-up, I am going to discuss the Import Export Code (hereinafter called IEC.) Import Export Code is the alphanumeric code similar to the PAN of the Company/Individual/Firm, as the case may be. It is used for the identifications of the importer and exporter.
Health is the primary thing and everything else follows thereafter, There is a saying that ‘Health is Wealth’, which means when a person maintains good health, everything else falls into place. The Central government understanding the importance of health and services supplied by health service sector has exempted the health care service from the levy […]
