THE INSTITUTE OF COMPANY SECRETARIES OF INDIA 1. Which is the only recognized professional body in India to develop and regulate the profession of Company Secretaries in India.. Ans: The Institute of Company Secretaries of India (ICSI) 2. What is the main motive of ICSI. Ans: To develop and regulate the profession of Company Secretaries…
India joins G20 Troika India has joined the G20 Troika, which consists of Indonesia, Italy, and India – the current, previous and incoming G20 Presidencies, respectively. Italy hosted the G20 summit during October 30-31, 2021. On 2nd December 2021, Indonesia assumed the G20 Presidency and will convene various G20 meetings throughout the year, culminating with…
Section 149 to 172 read with Companies (Appointment and Qualification of Directors) Rules, 2014. Form DIR–1: Application for including the name in the databank of Independent directors. (This form has been abolished.) Form DIR–2: Consent to act as director of the company. Form DIR–3: Application for Allotment of DIN (Director Identification Number.) Form DIR–4: Verification…
Banking Sector In India Types of Banks Commercial Banks are regulated under the Banking Regulation Act, 1949 and their business model is designed to make profit. Their primary function is to accept deposits and grant loans to the general public, corporate and government. Commercial banks can be divided into- Public Sector Private Sector Foreign Banks…
For every company the first board meeting shall be held within 30 days of incorporation and after that minimum four board meeting shall be held every year with the gap between two consecutive meetings of not more than 120 days. But in the case of one person company with more than one director, small company…
Lesson 1-Introduction to Company Law1) Details of Changes:The Central Government has been empowered to exclude certain companies, based on listing of certain securities on recognized stock exchanges, as provided by rules, in consultation with SEBI from the definition of listed companies. 2) Details of ChangesThe MCA for the Ease of doing Business has revised the…
Income tax act is such an enactment where the person who earns income have to pay tax to the government. Based on various committee recommendations and considering practical situations as well inflation, economic development the government provides minimum exemption limit and various slabs of taxation. It is normal that the assessee can claim deduction for…
The term income tax refers to a type of tax that governments impose on income generated by businesses and individuals within their jurisdiction. By law, taxpayers must file an income tax return annually to determine their tax obligations. Income taxes are a source of revenue for governments. They are used to fund public services, pay…
One Person Company Registration – OPC Registration Procedure in India The concept of One Person Company is first introduced in the companies act 2013. In a Private Company, a minimum of 2 Directors and 2 Members are required whereas in a Public Company, a minimum of 3 Directors and a minimum of 7 members. As…
LLP Registration Process Limited liability partnership is a form of organisation which is a best alternative for partnership firms. Limited Liability Partnership Act 2008, contains the provisions for incorporation of LLP. The important point to be noted here is , there is not separate registration authority for LLP, it is through MCA website , we…
