Who is the Director? Director is someone who gives direction, who has the responsibility to manage the affairs and who plays a vital role in every kind of organization. The Director of a company is a person elected by the shareholders for managing the affairs of the company as per the Memorandum of Association...
Continue readingChange in the registered office of a company
About Section 12 of the Companies Act,2013 makes it mandatory for all the companies to have registered offices either at the time of incorporation or within 30 days of incorporation. The registered office of a company is a place where books of accounts are maintained and all the communications and notices are sent. The...
Continue readingWINDING UP THE COMPANIES
Meaning of LIQUIDATION: LIQUIDATION AND WINDING UP a company is the process whereby the company by itself is ended and its property is administered for the benefit of its members. DIFFERENT MODES OF WINDING UP THE DIFFERENT MODES OF WINDING UP ARE AS UNDER : COMPULSORY WINDING UP U/S 433 TO 465 As per...
Continue readingITR 4 WITH TAX AUDIT
What is the ITR 4? Those assessees who have opted for presumptive income scheme under Section 44ADA, Section 44AD and Section 44AE of the Income Tax Act are required to file their return in ITR-4 However, if the turnover exceeds two crores, the taxpayer will have to file ITR-3. Who is required to file...
Continue readingGSTR – 8 – Statement for E-commerce operator(ECO) for Supplies effected through it
E-commerce operator is a person who owns or manages a digital or electronic facility or platform for electronic commerce such as Flipkart, Snap deal, Amazon, etc. It is mandatory for all E-commerce operators to obtain the GST registration number as well as registered for TCS (Tax collection at source). An E-commerce operator(ECO) provides online...
Continue readingDisqualification of Auditor
Who can be appointed as Auditor? 1) A person shall be eligible for appointment as an auditor of a company ● only if he is a chartered accountant or that a firm whereof ● majority of partners practicing in India are qualified for appointment as aforesaid may be appointed by its firm name to...
Continue readingWhat is TDS ON GST?
Introduction TDS introduced in GST is a mechanism to track or identify the transaction of supply of goods and/or services by making the recipient of such supply deduct a percentage of the amount to be paid to the supplier of such goods and/or services and deposit the same with the Govt. When is Liable...
Continue readingWhat is Saving Schemes?
About Saving schemes are launched by the Government of India, Banks, and financial institutions. Saving schemes help investors to achieve their financial goals over a period of time. Governments or banks decide the rate of interest in these schemes. An investor can use the savings he makes through these schemes for retirement, higher education,...
Continue readingWhat is the Import Export Code (IEC) & How to get Import Export Code?
Import Export Code (IEC) Import Export Code (IEC) is a 10 digit identification number which is issued by the DGFT (Director General of Foreign Trade), Department of Commerce, Government of India. It is also called the Importer Exporter Code. It is compulsory to obtain this code by companies and businesses that are starting a...
Continue readingAUDIT COMMITTEE UNDER SECTION 177
About An audit committee consists of non-executive directors, it is set up by and works under the supervision of the board. The audit committee is set up under Section 177 of the companies Act, 2013, and sometimes for the adoption of best practices of good corporate governance. The member of the audit committee comes...
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