Brief note: The Ministry of Corporate Affairs (MCA) has issued the Company (Accounts) Amendment Rules, 2021, Companies (Audit and Auditors) Amendment Rules, 2021 and made amendments to Schedule III under the Companies Act, 2013 (“the Act”). These amendments require significant additional disclosures in the statutory financial statements of companies, enhance reporting responsibilities of the auditors […]
Start-up India initiative is one of the pertinent initiatives that every budding entrepreneur should be aware of. It enables the start-up to gain various benefits under Income-tax Act, 1961. The requirement is nothing but registration on the Start-up India portal. However, there are some pre-requisites for being eligible to get registered as a Start-up. Vide […]
CARO 2020 is a new format for issue of audit reports in case of statutory audits of companies under Companies Act, 2013. CARO 2020 has included additional reporting requirements after consultations with the NFRA.** The aim of CARO 2020 is to enhance the overall quality of reporting by the company auditors. Every report made by […]
Now first question which must come to your mind why CIN is allotted to company so let’s find out the answer to this question if you see other law like under Income-tax law you get PAN, under GST law you get GSTIN etc. just like in similar way CIN is allotted to company on incorporation […]
E Commerce is the buzz word in today’s world. Sale and purchase of goods and availing services has gone on digital platform. The world is shrinking as the E commerce platforms are growing. Being a new business model, the compliance and taxation under E commerce is multiple and complex. Definition of E commerce and E […]
Corporate Social Responsibility literally means the responsibility of Corporates towards Society. Its an opportunity for big corporates to do their part to the society either voluntarily or through the compulsion under CSR. Section 135(1) of the Companies Act 2013, deals with the CSR provisions and constitution of CSR committee. Here we would be discussing the […]
Generally Online Gaming/Gambling laws in India prohibit betting or wagering and any act which is intended to aid or facilitate the same. As per FEMA, 1999 Gambling is prohibited under schedule-I. Gambling here means selection of winners through lottery or luck by chance, where luck by chance arise it means gambling occurs. Gambling is prohibited […]
Before dwelling into the valuation perspective of intangibles, let us understand its meaning first. In simple terms, an ‘intangible asset’ is something that cannot be touched or seen, for example patents, copyrights, brands and franchises etc. Moreover, other invisible assets like services of key and competent managerial persons, skilled and trained work force and technological competence of an enterprise can also be classified under the intangible assets of an entity. In this article our discussion will be confined to franchises and brand licence agreements.
Appointment of a director in case the number of directors fall below the statutory limit As per Section 149(1): Every company shall have a Board of Directors consisting of individuals as directors and shall have a minimum number of: 1. three directors in the case of a public company, two directors in the case of […]
Here is the summarized Statewise list of Intra state E-way bill. Table Provides Name of the State, Intra-State E-Way Bill Threshold limit (In Rs.) and Date or Official Press release etc vide which Intra-State E-Way Bill Threshold limit is made applicable. State wise Intra-State E-Way Bill Threshold limit (In Rs.) S.No State Threshold limit (In […]
