The Ministry of Corporate Affairs (MCA) has on 25th February, 2020, after consultation with the National Financial Reporting Authority (NFRA), notified the Companies (Auditor’s Report) Order, 2020 (CARO, 2020) and thereby repealing CARO, 2016. Few important points pertaining to CARO, 2020, are given hereunder: CARO, 2020 shall apply to every company including a foreign company, […]
The article discusses what Share Transfer is and the procedure of Share Transfer. It is a process of share transfer of existing shares from one person to another. The procedure to transfer shares in a private limited company varies from that of a public company. You should know that the articles of a company govern […]
CORPORATE SOCIAL RESPONSIBILITY CSR is a concept whereby companies not only consider their profitability and growth, but also the interest of society and the environment by taking responsibility for the impact of their activities on stakeholders, environment, consumers, employees, communities, and all other members in the public sphere. The basic premise is that when the […]
Procedure for transfer of shares from Non-resident to Resident 1. Valuation of shares: – Price of share shall be decided on the basis of valuation of Shares by a Chartered Accountant or/a SEBI registered Merchant Banker. 2. Sale consideration (net of taxes) must be remitted outside India through an authorized dealer (AD) bank. 3. Transfer […]
MCA in place of existing the Companies (Auditor Report) Order, 2016 has notified CARO 2020 after consultation with National Financial Reporting Authority (NFRA) constituted under section 132 of the Companies Act, 2013. Every report made by the auditor under section 143 of the Companies Act on the accounts of every company audited by him, to […]
TCS (Tax Collection at Source) provisions changes brought through Finance Bill 2020- A practical Analysis The provisions of TCS (Tax Collection at Source) was brought under Income tax act w.e.f 01.04.1988 with the intention of controlling tax evasion in the unorganised sector. Over a period of time several amendment has been made in TCS provisions […]
Introduction of Section-8 Micro – Finance Company The Micro finance Company is basically the financial institutions that provide small-scale financial services in the form of loan, credit or savings. These companies are introduced to ease the credit system for small businesses as they don’t get a loan from banks due to their complex process. Therefore […]
Procedure And Regulations For Appointment of Additional Directors (Under Companies Act-2013) Under the Companies Act 2013, Every directors appointed by the members of the company, but appointment of Additional Directors is the exceptions to this: Under Section 161(1) BOD the power to appoint any person other than a person who fails to get appointed as […]
PF withdrawal is taxable if a person has worked in the company for less than 5 years. Tax cannot be saved even by investing in any govt schemes / bonds. It just gets added to income from salaries, and then the taxability will depend upon the Gross Income of the assessee.
CATEGORY WISE LIST OF MAIN DIVISIONS OF INDUSTRIAL ACTIVITIES FOR INCORPORATION OF COMPANY VIA SPICE+ S No Categories Divisions (Codes) 1 Agriculture and Allied Activities Agriculture, Hunting and related Service activities (01); Forestry, logging and related Service activities(02); Fishing, Operation of fish hatcheries and fish farms; Service activities incidental to fishing (05) 2 Mining & […]
