The Indian Constitution was adopted by the Constituent Assembly on November 26, 1949. It includes the structure and fundamental codes which signify India as a Republic with an organized democracy. Fundamental rights are a brief section of this framework, which provides security to the citizens and also clarify their duties. Table of Content Abstract Schedules…

The Companies Act 2013 was introduced to incentivize companies to follow the “Jet Set Go” motto, with compliance and transparency being key. Among the diverse issues outlined in this act, there has been a revolution in Related Party Transactions, a term that has made all companies nervous about the complexity surrounding it for many years….

The companies that are created are governed by the Companies Act, 2013 (Act). It lays out some requirements that the corporation must meet. The threshold limits that the Act specifies, determine whether the applicants under the Act must comply with these requirements. The specific corporation must adhere to the clause in question if it falls…

The Employees’ Provident Fund Organization administers the EPF (Employees’ Provident Fund) retirement benefits plan (EPFO). The employee and the employer both contribute 12% of the base salary and dearness allowance to the EPF system on a monthly basis. EPF is a tax-advantaged investment vehicle that provides substantially higher interest rates. The Employees’ Pension Scheme receives…

A chit fund is a revolving savings scheme that has been a part of the Indian financial system for over a century. It is also known as chit, chitty, or kuree. A chit fund is an excellent financial tool for both saving and borrowing. As a savings vehicle, it provides a good return on investment,…

In a recent directive, the MCA (Ministry of Corporate Affairs) added measures to the statute that make the procedure for “Physical address verification of Registered Office by ROC” more apparent by requiring the application’s administrators to follow additional protocols. There are several updates towards the method that company owners with a registered office address for their…

XBRL is used as an abbreviation for “Extensible Business Reporting Language”. It is a language that is used for electronic communication of business and financial data that revises the reporting of business across the world. It provides a lot more benefits in regard to preparing, analyzing, and communicating business information. It saves costs by being…

The Companies (Incorporation) Third Amendment Rules, 2022, an update to the Companies (Incorporation) Rules, 2014, was put to notice by the Ministry of Corporate Affairs (MCA) on August 18, 2022.  Compliance with Rule 25B of Companies Rules, relating to the physical evidence of the company’s registrar’s office, has been released by the MCA. Table of…

Hunger is a disease for which no medicine has been invented. This statement seems correct as it correctly justified the reasoning presented by the great philosopher of the times named “Thomas Hobbes.” Hobbes in his book called “Leviathan” argued that there is no democracy or law lies with the Hungry men, as the only potential…

The Companies Act, 2013 mandates the filing of a declaration in Form No INC-20A with additional details regarding Bank statements and Registered address when a newly registered company wants to commence its business and operations in the desired manner. Requisite complying with the provisions is mandatory to exercise its borrowing powers. Several pieces of information…

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