In the context of the Indian Financial Sector a mutual benefit society is termed as Nidhi Company by the Central Government of India which is derived from depth of the word “treasure”. The main object is to cultivate the habit of thrift and saving among its members. The dealings of Nidhi Company are restricted to…

Guidelines for filing of form NDH-4 (Application for Declaration/ Updation of status of Nidhi) Ministry of corporate affairs came up with some amendments in existing Nidhi Rules, 2014 through a Notification dated 01st July 2019. These rules called as Nidhi (Amendment) Rules, 2019 and came into force with effect from 15 August, 2019. With this…

As we all know, the provision of sub-section 194-I of the Act, inter alia, provides for tax deduction at source (TDS) for payments in the nature of rent beyond a threshold limit. The existing provisions provide threshold of Rs. 240000 per financial year for deduction of tax under this section. In spite of providing higher…

What is GST E-Invoice System? GST e-invoice is the introduction of the digital invoice for goods and services provided by the business firm generated at the government GST portal. The concept of GST e-invoice generation system has been taken into consideration for the reduction in GST evasion. The GST officers have come to a conclusion by providing…

The RBI has different tools through which it injects liquidity into financial markets. Recently on 12 March 2020 Reserve Bank of India (RBI) announces sell-buy swap, for 6 months which means the central bank will sell dollars in the market now and buy them back six months down the line to increase the supply of…

A Foreign Company can be incorporated in India by complying with the provisions of Companies Act, 2013.Following are the ways through which one can set up Foreign Company As an Indian Company registered under Companies Act, 2013 Wholly Owned Subsidiary Joint Venture As a Foreign Company Setting up a Liaison Office Representative Office or a…

Recent Amendments under CARO Ministry of Corporate Affairs (MCA) has made certain changes in companies (auditor’s record) order vide its notification dated 25th February 2020, and has published Companies (Auditor’s Report) Order, 2020. It shall be applicable for the audit of financial statement 2019-20. Companies covered under CARO 2020 It shall be applicable to every…

BUSINESS IN INDIA Foreign Company according to the Companies Act 2013 is defined as any company or body corporate incorporated outside India, which has a place of business in India whether by itself or through an agent, physically or by electronic medium; and, conducts any business activity in India in any other manner. However there…

Advance tax is a form of income tax that an individual requires to pay before the end of financial year in case your tax liability exceeds INR 10,000 for a particular financial year. Who is required to file? A person having income other than salary is requires to pay advance tax For instance, if an…

The Company may appoint director for internal management and to make better and sound business decisions for the company. As per legal requirement, one person company should have a minimum of one director, a private Limited should have a minimum of two directors and the public limited company should have a minimum of three directors…

Page 16 of 17 1 14 15 16 17

Copyright © 2020 Goyal Mangal & Company.