Content What is a private limited company? Deductible expenses Salary to directors Sitting fees to director Preliminary expenses Rent expenses Capitalizing capital asset and depreciation Salary of family members Entertainment expenses Director’s vehicle expense  Company is an artificial person created by law it is clothed with many rights, obligations, powers and duties prescribed by law….

The Section – 13 read with rule 29 of Companies (Incorporation) Rules, 2014 deals with the alteration of object clause of Memorandum of Association of the Company. This Article contains the procedure for change in Object clause of the Company The Memorandum of association of a Company is the charter document which defines the scope…

The Reserve Bank of India has introduced a new reporting form of foreign transactions vide its RBI/2017-18/194 dated A.P (DIR Series) Circular No.30 June 07, 2018 wherein they have integrated all the existing forms into one single structure known as Single Master Form which were earlier reported in the e-biz portal which was later discontinued…

In a general context an authorized Share Capital means the maximum amount of share capital which a Company can allocate to its shareholders during its life as authorized by its constitutional documents. It can be altered with the permission of the Members of the Company. In Legal sense as defined under the Section2(8) of the…

The Companies which are registered after the commencement of the Companies (Amendment) Ordinance, 2018 in India and is having a share capital shall file a declaration for the commencement of business certificate before commencing any business or exercising any borrowing powers. Any company which is incorporated after 2nd November 2018 is required to get a…

A Digital Signature Certificate is a secure digital key that is issued by the certifying authorities for the purpose of validating and certifying the identity of the person holding this certificate. Digital Signatures make use of the public key encryptions to create the signatures. A digital signature certificate (DSC) contains information about the user’s name,…

The Companies majorly adopt the Reduction of share capital for their internal restructuring or for altering their capital structure which it involves reduction of issued, subscribed and paid up share capital of the Company whether pertaining to equity shares or preference shares or both of a Company. Circumstances where Companies opt for reduction in their…

A Company being a legal entity have its own name which in order to establish its independent corporate existence which serves as symbol of being easily identifiable from others. An existing Company can change its name thereby alerting the first clause of the Memorandum of Association of the company which states the name by which…

Indian Government announced another regulatory relief for the companies registered in India. The government has introduced a fresh scheme i.e. Companies Fresh Start Scheme, 2020 to make a fresh start on a clean slate. Under this scheme, corporate of India can file their pending documents such as Annual Return and Financial Statements without paying higher…

In order to support and enable Companies and Limited Liability Partnerships (LLPs) in India to focus on taking necessary measures to address the COVID-19 threat, including the economic disruptions caused by it, the following measures have been implemented by the Ministry of Corporate Affairs to reduce their compliance burden and other risks:

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