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…
The Finance Act 2022 introduced Section 194R which relates to the deduction of tax on benefits or emoluments connecting businesses or professions. Businesses, companies, or entities often extend various types of perks and benefits to their distributors, distribution partners, agents, or resellers to motivate and incentivize them to support the further growth of the business….
Insider trading refers to trading based on non-public material information that significantly affects the price of a company’s shares when realized using this source. In many countries, insider trading is not legal and offenders are severely prosecuted. However, the nature of material information concerning the internal and external environment has led to different laws and…
A Trademark is an identity of a company, service, or product. These marks are used to distinguish the business from others and are considered Intangible assets of the owner. Businessmen and Entrepreneurs use such marks to help their services stand out with Individuality and for the public to recognize their brand without any confusion with…
CARO 2020 is a new format for issuing audit reports for statutory audits of companies under the Companies Act 2013. CARO 2020 has included additional reporting requirements in consultation with the National Financial Reporting Authority (NFRA). NFRA is an independent regulatory body for regulating the auditing and accounting profession in India. The objective of CARO…
Under the Real Estate Regulatory and Development Act (RERA) which came into effect on May 1, 2017, real estate agents will be required to register to facilitate a transaction. All real estate agents are required to do RERA Registration. They should do so with the appropriate state regulatory authorities. This article focuses on the mandatory…
Along with being financially rewarding, a career as a Company Secretary also carries a high degree of job satisfaction. Whether a company is in the public or private sectors or an NGO, a company secretary is an essential member of the governance team. The Company Secretary (CS) is a key manager of the company. He…