About: As per the provision of section 13 of the Companies Act 2013, a company has the authority to change its name by passing a special resolution in general meeting and receiving approval from the Central Government. Change of name is a significant alteration since Memorandum of Association and Articles of Association need to...
Continue readingCREATION, MODIFICATION, AND SATISFACTION OF CHARGE
Creation of Charge: When a company borrows money the lender asks for securities. The lender may be a Bank or a Company or even a Body Corporate. Whenever any security is given to obtain a loan a charge is created in favor of the lender. The loan may be borrowed by one charge holder...
Continue readingWhat is GSTR 10 & How to file GSTR 10?
About: GSTR-10 is a final return to be filed by all the taxpayers whose GST Registration is either surrendered by the taxpayer or gets canceled by the authorities. This is also called the final return, which is different from the annual return. This return is final return GSTR-10 and for the annual return, you...
Continue readingWhat is a Small Company?
About The concept of Small Company was first introduced in the Companies Act, 2013. This is a new step towards the deregulation of entities through providing some exemptions, privileges, and liberation with lesser compliances burden on the entities which are smaller in size and operations. A Small company means a company, other than a...
Continue readingFunctions & Powers of National Financial Reporting Authority
The Central Government, by notification, constituted the National Financial Reporting Authority (NFRA) under the provisions of Companies Act,2013 for matters relating to accounting and auditing standards. So as to improve the confidence of investors and the public in the financial reporting of the entity. Functions of NFRA: The functions of national financial reporting authority...
Continue readingLIMITED LIABILITY PARTNERSHIP – 2008
About: The Limited Liability Partnership Act, 2008 was enacted by the Parliament of India. Limited Liability Partnership Act, 2008 is a body corporate and legal entity separate from its partners, have perpetual succession and any change in the partners of a Limited Liability Partnership shall not affect the existence, rights, or liability of the...
Continue readingHow to convert Partnership into LLP?
CONVERSION OF PARTNERSHIP INTO LLP In 2008 Parliament of India enacted the Limited Liability Partnership Act, 2008. Limited Liability Partnership is separate from its partners is a body corporate and legal entity having perpetual succession. The existence, rights, or liability of the LLP shall not be affected by any change in the partners of...
Continue readingMaintenance of Statutory Registers – Companies Act 2013
Introduction In order to function efficiently and to fulfill their statutory requirements, organizations need to manage or maintain certain records and registers. Maintaining such records and registers are important for fulfilling the disclosure, statutory requirements, statistical, MIS purposes. All this helps in ensuring that the operations of an organization are systematic. It is required...
Continue readingWhat is form 15CA and 15CB?
About: According to Section 195 of Income Tax Act 1961, every person liable for making a payment to a non-resident shall deduct withholding tax from the payment made to a non-resident if such sum is chargeable to Income Tax and form 15CA and 15CB are the declarations for the same. A person making any...
Continue readingPartnership Firm Tax Return Filing
About: A partnership firm is a body of more than one person who comes together to conduct business under one entity. There are two types of partnership firms- Unregistered partnership firm Registered partnership firm Those firms get certified from the Registrar of Firms, called Registered Firm. Partnership firms are required to file income tax...
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