Quick News

Women Entrepreneurship Platform

Female Entrepreneur? see what the Women Entrepreneurship Platform has to offer India in the last few years has observed a significant increase in the number of Women entrepreneurs. This might be on account of different policy measures granted to Women…

Union Budget 2023 Highlights

Union Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023. Here are the major highlights and key takeaways from the Budget. Seven Priorities of the Budget ‘Saptarishi’ Inclusive development Reaching the last mile Infrastructure and investment Unleashing the potential…

How to Manage Sandwich Leave with your Company?

Productivity in any organization entirely depends on the performance and dedication of the manpower involved in it. Employees working long hours are entitled to a few leaves including weekly, monthly, and some casual leaves on account of Public holidays. Some…

Soundtrack Registration

In India, a sound that is graphically represented by a succession of musical notes with or without words can be protected under the Trademark Act. The registration of a sound under the Trademark Act will depend on if the sound…

Protection of Unregistered Mark

A Trademark means a mark/ sign or symbol which distinguishes the goods or services of one person/organization from those of others. Trademark ensures that your unique brand name and the attached brand value are well protected.  In this competitive era,…

Importance of Design Protection in Textile Industry

Innovation in the textile and fabric industry has revolutionized clothing, home, and technical textiles. Design registration is a type of intellectual property protection under which a newly created design applied to an article created under an industrial process can be…

Everything you should know about Inter Corporate Loan

Any company is authorized to provide loans, investments, guarantees,s, and securities, to other companies or corporate bodies but having full consent of the board or that of the shareholders. Here, we would talk about the different provisions that Section 186…

STEPS FOR ALTERATION OF SHARE CAPITAL?

Before jumping into the clause, let’s initially know, What is ALTERATION OF SHARE CAPITAL? Alteration of Share Capital literally translates to the alteration in the current structure of the capital pertaining to a firm. A company is allowed to alter…

Labour Law Compliances

The Corporate Sector is obliged to follow some mandatory rules and regulations made for the labour class. These set of rules and guidelines are based on the rights and the constitutional duties of employers specified in the Concurrent List of…

COVID-19 outbreak: How to ensure financial security during such a crisis?

Change in a financial plan due to sudden crisis or miss-happenings are neither planned in advance nor advised, if long term financial goals are to be achieved. During our lifetime, we barely have 2 decades to decide the fate of…

Companies Fresh Start Scheme 2020 – as announced by MCA

Ministry of Corporate Affairs (MCA) has now come up with relief for all law-abiding Companies, who defaulted in any of their previous filings with Registrar of Companies (ROC). Ministry for all default adjustments of companies has introduced Companies Fresh Start…

Finance Minister Nirmala Sitharaman: Economic Relief Package

“Reaching out to people in need is the prime concern for government now” – Finance Minister Nirmala Sitharaman In view of the recent coronavirus pandemic also called COVID 19 disease, all the economies of the world are suffering heavily. The…

RBI Prepositions for Lockdown: COVID-19 Policy Updates

The Reserve Bank of India (RBI), working towards providing a support system along with all the firm steps of PM Narendra Modi towards developing remedies for pandemic coronavirus, came up with measures to revive the economy with sizeable reductions in…

Vendor Agreement: Important Elements

Have you ever wondered how does a business manage to partner with the same buyers or suppliers for a long period of time? Just like any other type of agreement, a vendor’s agreement is a standard agreement wherein all general…

Joint Venture: Formation & Agreement

A Joint Venture Agreement is a contract between two or more parties who want to do business together for a period of time. Instead of creating a formal partnership or new legal entity, a contractual  JV allows the parties to…

One Person Company Registration

To opt for a business format like One Person Company is a refinement option in business a sole proprietor. By forming a One Person Company, a single promoter of business gains full authority and the opportunity to run his own business single-handedly. One…

Registration Mistakes By Entrepreneurs & Start-ups

With any opportunity before getting too far, it is essential that you go through small things first, then take big steps with the right foot. To have a new start-up on board, everything must be on time and well planned….

Government Approves More Amendments in the Companies Law: Decriminalization, Offences

In 2019, the Companies law was amended in July to tighten the corporate social responsibility (“CSR”) norms and to assure that the Act preserves strict action on non-compliant entities.   In the same year in November, Government appointed a high-level panel to…

Inter- corporate Loans and Investments by Companies

Section 186 of the Companies Act, 2013 guides all about the provisions related to inter-corporate loans and investments which a company is permitted to do. For companies, it specifies all rules, limits, conditions, and procedures to undergo before extending any…

Conversion of Partnership to Company – Procedure, Rules & Tax Effect.

Due to a rise in regulatory policies for ease of doing business for companies and announcement of a special reduction in the corporate tax rate through the Taxation Laws (Amendment) Ordinance, 2019, many leading entrepreneurs and firms are opting to…

My company is denying me of maternity leave, what can I do

Female Maternity Leave Allowance (FMLA) is a central right provided by the government to female . A female employee applying for FMLA to the employer cannot be denied her right if an application for it, is placed in a well-framed…

Can a company deduct one’s salary for Saturday and Sunday based on a sandwich rule as per the labour laws in India?

Employees in India are entitled to get a certain number of leaves every year besides national holidays and festivals as per distinct labour laws and legislation. Labour laws in India specify the rights, duties, and responsibilities of both employers and…

How many months of salary can a company legally hold if someone resigns without giving a proper notice period ?

The government through various Central and State legislation gives rights and resolved matters relating to employment, payment of wages and other allied matters. No rigid rules are there to govern employment in India, different legislations available for different categories of…

Does Registration Under Shop Establishment Act And Udyog Aadhaar Mean Once And The Same Thing?

Establishments in India varies with respect to investment, size, and output. There are some entities which are engaged in commercial activities, some in entertainment products, some in manufacturing & productivity while some in the rendering of services. Each of them…

Can Udyog Aadhaar help in Getting GST Registration?

GST registration is compulsory for all entities – having an annual turnover of business above the threshold limit. These entities have to get them registered and file taxes to the government on the supply of taxable goods and services. Working…

Does registration under Udyog Aadhaar help in getting loans ?

Ease of doing business and simplification in regulatory procedures was an all-time requirement of the business sector, especially for MSMEs. Also, obtaining adequate finance for running their business activities was among their priority issues. Thus, the introduction of Udyog Aadhaar…

No BAN on deposits made/accepted for business purposes

With the passing of the Banning of the Unregulated Deposit Scheme Ordinance, 2019 in the Lok Sabha, the government stood up to qualify the law, to be an effective step for curbing unregulated deposits made in forged deposit schemes. The…

Section 92 – Annual Return filling provisions for the companies and expected ordinance amendments

The Companies Act,2013 – Section 92 compiles provisions for mandatory annual return filling by all companies registered under the Act. Filling of annual returns by companies under this section includes annual reporting of company financials, shortcomings of the meetings held,…

MCA Update: File Particulars or Get Penalised

To pull up the reporting standards, the Ministry of Corporate Affairs has put forward a compliance notification for all companies incorporated before 31st December 2017 to electronically file their company particulars to the department before 25th April 2019. Adding a…

Which Type of Company form Should be Registered For Online Selling?

There is no specific form of business determined in the law for setting up an e-commerce business in India. However, it is a necessity for every entrepreneur to know what all legal provisions he deemed to get fulfilled with respect…

Budget 2019 for Taxpayers

Just like clinching victory in the last over of the match, Piyush Goyal, presenting his maiden Budget, made an announcement that is bound to cockle the hearts of middle-class salaried citizens. Interim Finance Minister Piyush Goyal has given some relief…

IT department places a last chance for reporting to high-value transaction makers in 2017-18

The Central Board of Direct Taxes (CBDT) has recently reported for several people who have undertaken big value transactions in FY 2017-18 and have not filed their IT returns. The department placed a last chance to all non-filers to file…

WCO Theme for 2019 – ‘Smart Borders’

On occasion of the annual celebration of the International Customs Day, the World Customs Organisation (WCO) will initiate a Smart border theme for cross border transactions on 26 January for provisioning seamless trade, travel, and transport in the economy. Stating…

Restaurants and Companies Fret over Proposed Fat Tax

The Food Safety and Standards Authority of India proposed the FAT tax on Monday, 8th May, 2017. Although a rate hasn’t been specified, it would bring almost all processed food items under the ambit of the proposed levy if implemented….

Govt. has no plans to Tax on Agricultural Income

In the month of April 2017, NITI Aayog member Bibek Debroy stated that farmers should be liable to pay tax on their incomes at par with other citizens after seasonal fluctuations are adjusted. In the contradiction of above, Finance Minister Arun Jaitley has…

Bank Don’t need to wait 90 Days to Start Loan Recovery

Now the Banks can initiate loan recovery proceedings without waiting for an account to be formally classified as non-performing asset, as the latest amendments to banking rules allow for faster resolution of their bad debt problem, a senior government official…

Tax Return Under Presumptive Taxation Scheme

The Budget 2017 proposed a new Section 44ADA to the Income Tax Act which talks about Presumptive Taxation Scheme (PTS) regime for professionals in order to reduce the compliance burden of small tax payers. It was proposed to provide estimation…

Simplify Compliance Procedure For MSME

Now here comes an order from the Center to the State to simplify the Compliance procedures for micro, small and medium enterprises (MSME) to address issues related to availability of credit facilities and skilled man-power. A meeting was called upon…

No Price Hail with GST Finance Minister Jaitely

The Finance Minister Mr. Arun Jaitley in his attempt to appreciate the governments efforts stated that the percentage rates under the  goods and services tax (GST) regime would never the less be “significantly different” from existing levels, giving cues that there…

Donald Trump’s Immigration Rules; are they beneficial for Indians??

The prevailing immigration rules welcomes vast majority of immigrants. It sponsors immediate family members of citizens and legal permanent citizens— spouses, minor children and parents for visas that are not subject to any caps. Mr. Donald Trump, President of USA…

Government Sends Notice To 2,00,000 Companies Over Tax Non-Compliance

The Ministry of Corporate Affairs (MCA) sent notices to around two lakh inoperative companies ordering them to bring to an end the operations of the Company and subsequently de-register themselves from the MCA. The decision was in pursuance to the…

Government Proposes Fast Track Insolvency For Startups

The Insolvency and Bankruptcy Code provides for completing insolvency resolution process within 180 days after the process is initiated plus 90 days extension for resolving insolvency. The Code also provides for the Fast Track Insolvency Resolution Process within 90 days…

Technology based Small business? Cloud Computing brings you subsidy.

In past abundance of resources and manpower were required in handling and managing the documents. The fleeting time and aggressive competitive market taught need of technological development. From using pages to maintain records in books to managing space in computers,…

Government to boost benefits for SMEs.

The SMEs operating in India experienced a declined rate to their clerical jobs with the note ban (demonetization) announcement last year November 8th 2016, to support the decline in operations these entities expected to get some good rebates from government…

Aadhaar soon to become mandatory for IRCTC Ticketing site

Indian Railways is each day working on strengthening its ticketing system and it could soon introduce a system in which Aadhaar will become mandatory for booking rail tickets online. Though railways has taken several measures to put a check on…

Cash Transaction Charge – A new levy

The end of demonetization era is just round the corner. Banks such as HDFC Bank, ICICI Bank and Axis Bank will be charging its customers a minimum amount of Rs.150 per cash transaction for cash deposits and withdrawals beyond four…

Startup journey of Women Entrepreneurs – A Govt. of India initiative

Isn’t it a good-news to be welcomed that the Government is going to do something which will be highly beneficial for women entrepreneurs? Well to bring more women into the ambit of startup businesses, the Government of India will soon…

File easy Trademark : 8 Minutes 8 Forms that’s all you need

To the most required amendment, Indian Government on 6th March 2017 proposed a defined verdict on a need to rewrite the official trademark registration rules. The new changes would be portioned to Trademark Registration Rules, 2017 and will work up…

Gold loans in cash now restricted to 25,000

Gold Loan – The fast growth in the economic system requires a need to inculcate technology at all ends to ensure unscrupulous executions. The Reserve Bank of India on 9th of March, 2017 had declared for a reduction in the…

Related Party Transaction (overall Understanding) Section 188 of the Companies Act 2013

According to international financial reporting standards, an entity is termed as related party as per following criteria: Highly influenced by a Key Management Personnel (KMP) or relative. Any firm wherein partner is director/manager or his relative Any public venture wherein…

Working on NPA Recoveries by Banks

On July 02, 2012, RBI published a Master circular (RBI/2012-13/39 DBOD.No.BP.BC.9/21.04.048/2012-13) stating the meaning of NPA. As per circular: NPA (Non-performing Asset), includes a leased asset which becomes non-­ performing when it ceases to generate income for the bank. NPA…

Why are companies a better form of business?

Why are companies a better form of business? It’s because of the below mentioned characteristic features that the Companies turn out to be a better form of business Limited Liability The primary benefit of undertaking business in the form of…

Distinction Between A Public Company And a Private Company

Following are the main points of difference between a Public Company and a Private Company :- 1. Minimum Paid-up Capital : A company to be Incorporated as a Private Company must have a minimum paid-up capital of Rs. 1,00,000, whereas…

Guidelines For Companies Annual Return

Guidelines For Companies Annual return. Every company shall prepare the annual return in the MGT-7 containing the  following particulars : Its registered office, principal business activities, particulars of its holding, subsidiary and associate companies; Its shares, debentures and other securities…