Articles

A Start-up is a young company/entity founded by one or more entrepreneurs to develop a unique product or service and bring it to market. By its nature, it is beginning to develop and grow, is in the first stages of operation, and is usually financed by an individual or small group of individuals. Start-up India …

Benefits to Start-ups Registered with DPIIT under the Income-Tax Act Read More »

ELIGIBILITY/APPLICABILITY: Which year’s profits, turnover and net worth will be reckoned for understanding the applicability of CSR? Immediately preceding financial year Profit (Rs.5 crores), Turnover (Rs.1,000 crores) and Net Worth (Rs.500 crores) shall be taken into consideration. Whether applicability of CSR provisions is to be considered every year? Once CSR provisions are applicable in any …

FAQs on Corporate Social Responsibility(CSR) Read More »

BOARD AND GENERAL MEETINGS THROUGH VIDEO CONFERENCING The Companies Act, 2013 allows convening of Board Meetings through Video conferencing (VC) or any Other Audio-Visual Means (OAVM) and has recently also allowed convening of General Meetings through VC or OAVM in view of the Covid-19 pandemic. This has resulted in ease of convening meetings and has …

Board and General Meetings through Video Conferencing Read More »

The Ministry of Micro, Small and Medium Enterprises (MSME) has issued a notification dated the 1st June 2020 revising the criteria for classification of Micro, Small and Medium Enterprises. The changes have been made in the MSME definition by virtue of Aatmanirbhar Bharat Package on 13th May 2020. The new definitions and criteria will come …

New Criteria for Classification of Micro, Small and Medium Enterprises Read More »

Background The Indian Stamp Act 1899 was implemented by British Government to generate revenue for the Government. Stamp duty is a tax that is levied on single property purchases or documents (historically, this included the majority of legal documents such as cheques, receipts, military commissions, marriage licenses and land transactions.) A physical stamp (a revenue …

Amendments in Indian Stamp Act, 1899 Read More »

Introduction: Corporate Social Responsibility (CSR) is an important aspect of business. Corporate social responsibility (CSR) determines how companies manage their business processes to produce an overall positive impact on the society. Corporate Social Responsibility as per Section 135 of Companies Act, 2013 Applicability – Section 135 of the Companies Act, 2013 provides that it will apply to …

Spending of Corporate Social Responsibility (CSR) Funds for Covid-19 Read More »

I           Background: With the growing participation of investors and other stakeholders in companies, the question of transparency in arrangements with related parties has often been a topic of much debate and discussion. To usher increased degree of transparency in such transactions, to determine the exact financial position of the entity, Section 188 was introduced in …

Related Party Transactions as per Companies Act, 2013 Read More »

Limited Liability Partnership- Background Limited Liability Partnership (LLP) entities are world wide recognized form of Business Organization. LLP’s in India are regulated by the Limited Liability Partnership Act, 2008 along with LLP Rules, 2009 as amended from time to time. LLP combines the advantages of both the Company and Partnership into a single form of …

Who can be a Partner/Designated Partner in a Limited Liability Partnership Read More »

The Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020 (CFSS-2020)” to provide an opportunity to Companies to make good any filing related defaults and make a fresh start as a fully compliant entity. COMPANIES FRESH START SCHEME, 2020 (CFSS-2020): The salient features of the scheme are as follows: Applicability This …

Companies Fresh Start Scheme, 2020 (CFSS-2020) Read More »