Meaning of Company Secretary A company secretary, as per the Companies Act, means a company secretary as defined under sec 2(1)(c) of the company secretaries Act, 1980, who is appointed by a company to perform the functions of a company secretary under this Act (sec 2(24)). Company secretary, as per the section sec 2(1)(c)...
Continue readingHow do you appoint and remove an Auditor?
Appointment of auditor According to section 139 of the companies Act,2013 certain provisions dealing with the appointment of auditors. Appointment of First Auditor Appointment of Subsequent Auditor Appointment of First Auditor in case of Company other than Government Company According to Section 139(6), the first Auditor in case of a company, other than...
Continue readingHow to Appeal to NCLT against Strike Off?
According to Companies Act 2013, Strike Off means removing the name of the Company from the Register of Companies maintained by the Registrar of Companies. It’s a kind of temporary closure of Companies which is an alternative to winding up of the Company, where the Company has the option to get itself revived within twenty years from the date of strike-off. Strike off...
Continue readingHow to Appeal for Outstanding Tax Demand?
After filing of the Income Tax Returns, the next step of the e-filing process is verification. The Income Tax Department checks the income declarations and tax paid to see whether all these details matched. Thereafter the IT Department will accept the tax return filed as per Section 143(1). On checking if IT department found...
Continue readingALTERATION OF MEMORANDUM OF ASSOCIATION(MOA)
About Memorandum of Association(MOA) of association(MOA) is a document for the purpose of formation of the company and along with the Articles of Association (AOA) is regarded as the Constitution of the Company. Procedure of alteration of Memorandum of Association(MOA) Section 13 of the Companies Act, 2013 deals with the provisions of alteration of...
Continue readingWhat is One Person Company (OPC) & Advantages and Disadvantages of One Person Company (OPC)?
One Person Company (OPC) One Person Company (OPC) is a private company having a minimum of one Director and Member whereas a public company is required to have a minimum of Three Directors and Seven members. Earlier a single person couldn’t incorporate a Company but now as per Section 2(62) of the Company’s Act 2013,...
Continue readingWhat is Section 269SS & 269T?
Section 269SS & 269T Objective: Sections 269SS and 269T are covered under the Income-tax Act. Tax evasion is one of the major issues faced in India due to which major losses have to be incurred by the government. Cash transactions which are done with the wrong intention which is uncounted become one of the...
Continue readingInterest under Section 234A, B, and C
About: Today we are going to understand Section 234 A, B, and C of Income Tax Act. This section imposes interest under these 3 sections. Let’s look these section: 234 A We have to file an Income tax return for a financial year within the time limit. If you did not file your return...
Continue readingWhat is 80G Registration & How to Register?
80G Registration About 80G: 80G is a section that comes under Income Tax Act which allows certain contributions or donations made to Charitable Trust, Non-Profit Organizations (NGOs), Section 8 companies, or organizations that are registered are eligible for tax exemptions. This deduction can be claimed by any taxpayer like individuals, companies, firms, or any...
Continue readingWhat is 12A Registration & How to register?
12A Registration About: When you have a source of income and it exceeds a specific amount, then you have to pay income tax on it to the government. But under Income Tax there is section 12A which allows NGOs (Non-Government Organizations), Trust and Section 8 companies to get exempted from paying income tax on...
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