Any litigation under various tax laws, including the GST, may take a long time. Dependence on any measures may delay the receipt of government revenue. In addition, the taxpayer may transfer his property to another person before the end of the case. To protect profit interests during the suspension of any measures, the government has…
The Annual General Meeting (AGM) is held to facilitate cooperation between the management and the shareholders of the company. It is compulsory under the Companies Act, 2013 to hold an annual general meeting (AGM) to discuss the annual results, the appointment of an auditor, and other discussions. The Company must follow the procedures under the…
A charge in terms of section 2 (16) of the Companies Act 2013 means interest or liability created on the Company’s property or assets or any of its contracts or both as collateral and includes mortgage debt. In simple terms, a charge is financial collateral created by a Company on its assets or property instead…
The concept of One Person Company (OPC) is well understood by all of us and does not require an introduction. We all know the rights enjoyed by OPC compared to other types of companies, such as not having to hold a general meeting, not having to hold a board meeting (in the case of only…
Director’s Identity Identification Number (DIN) is an ID number assigned by Central Government to persons who intend to become a new company director or existing director. All company directors must have a DIN. The Registrar of Companies (ROCs) may issue a director’s DIN under Section 164 (2) of the Companies Act, 2013. This article talks…
Are you running a company registered under LLP? A new LLP Amendment Act has been introduced in 2021. Further, you should know how it can effect your business. The Act has been in effect since 1st April, 2022. In this article we will discuss, Section wise Impact of LLP (Amendment) Act, 2021. Table of Content…
Cost audit is cost verification of accounting for the accuracy of cost accounting records. It is a way of ensuring that accounting records are in line with cost principles, plans, procedures, and purpose. Cost audit usually involves- Ensuring that the cost records are accurate, finding errors in the cost records, and checking if the cost…
Nowadays, the incorporation and emergence of new companies have become common. But there are certain existing companies who want to close due to different reasons. The closure of Companies can be by fulfilling some specific documentation and conditions as per law. Section 248 of the companies Act 2013, talks about the Power of Registrar for Removal…
If you have investments in a business and are afraid of losing the investment then you should know about the Insolvency Resolution. The Insolvency and Bankruptcy Code (IBC), 2016 provides a time-bound process to resolve insolvency. The Code outlines separate insolvency resolution processes for individuals, companies and partnership firms. The code aims to protect the…
This article provides an analysis to the financial year provisions- Section 2(41) of the Companies Act, 2013. Table of Contents Section 2(41) of the Companies Act 2013 Extension of Financial Year Annual General Meeting Final words Section 2(41) of the Companies Act 2013 The above corporate provision, the 2013 Act does not give any direct…