The term Director is used for a person who leads or supervises a company. They are the ultimate decision-makers and thus responsible for the operations of the company. The director reports directly to a vice president or the CEO to let them know its progress. Requirement and eligibility Any individual who wants to be a …
Sections (8) of companies act, 2013 is associated with formation of those companies which are formed with the objective of charity (promotion of art, science, commerce, sports, education, research, welfare) without adding the words “limited” or “private limited” to the name of the newly registered business entity. Some of the important points that support formation …
The National Company Law Tribunal (NCLT) is established by the high court to command to deal with the laws concerning Indian companies. The NCLT operates as a quasi-judicial authority under the Companies Act 2013 that handles the structure, regulations and settles issues related to corporate cases. It was organized under Article 245 in the constitution …
Indian economy is one among the fastest-growing economies within the world with GDP growth of around 7 – 8% and a population of over 1 billion as per International Bank for Reconstruction and Development Data (2016). The statistics show that India as of now boasts of a profitable and stable economy and has already entered …
In India, a person or an entity proposing to start with a food business must obtain a food license or a registration from the Food Safety and Standard Authority of India (FSSAI). Approximately 90% of food products have a prescribed specification by FSSAI. Only the ocean products and therefore the production involving fishermen and farmers …
What is company registration or company incorporation? Company Formation or Company Incorporation is that the process of registering a business as per the procedures defined by the Ministry of Corporate Affairs (MCA). The owner has the freedom to make a decision the sort of company under which the business are going to be registered. Further, …
The rules & regulations concerning tax return filing in India are enumerated within the tax act, 1961. These rules are to be followed by every registered taxpayer who possesses a legitimate PAN card and files ITR during a fiscal year . ITR must be filed during a prescribed format and will be submitted with the …
Corporate reorganization involves restructuring the way a company works in an attempt to avoid double taxation scenarios, improve profitability, or increase the company’s efficiency. The corporate reorganization clause is a provision contained in a company’s charter. The endowment directs mergers and acquisitions, changes in assets or ownership structure, as well as changes in corporate control. …
Companies in the corporate world are required to comply with various requirements laid down by the Companies act, 2013. One of them includes annual ROC filling which includes filling of MGT-7 & AOC-4 which are required to be filed annually. These are called Annual filling with regard to Companies Act which the company has to …
The power to invest the funds of the company is the privilege of the Board of Directors. This power is resulting by the Board under Section 179 of the Companies Act, 2013. However, the Companies Act, 2013 contains provisions for boundaries on investments that a company can make and loans it can provide to others. …