NGO Compliances
In this article we shall discuss about all the compliances that the below mentioned 3 types of charitable organisations, also known as NGOs need to follow. COMPLIANCES OF A TRUST Compulsory Audit of Accounts When the total income of a Private Trust exceeds the limit given under the Income Tax Act, 1961 for non-taxable income, […]
Import Export Code
Introduction In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. However, doing business globally isn’t just a cup of tea for everyone. Before going global, you need to follow several procedures and laws in place and get different registration and license. IEC (Import Export Code) […]
Establishment of Branch/Liaison Office in India by Foreign entities
Every business, as it grows, wants to expand its business globally, for this, it need to establish a subsidiary or branch or liaison office in other country/countries. It is also required to obtain prior permissions from the respective authorities of other country in which it is willing to operate its business. (Known as Host Country). […]
Digital Signature Certificate (DSC)
Introduction Digital Signature (DSC) is a signature in an electronic format. Digital Signatures are used in India for online transactions such as Filing Annual Return, Company or LLP Incorporation, Income Tax E-Filing, E-Tenders, etc. There are 3 types of Digital Signatures – Class I, Class II and Class III. Class I digital signature is used […]
Chit Fund Company
Introduction A chit fund is a type of rotating savings and credit association system practiced in Pakistan, India, Bangladesh, Sri Lanka and other Asian countries. Chit fund schemes may be organized by financial institutions, or informally among friends, relatives, or neighbours. In some variations of chit funds, the savings are for a specific purpose. Chit funds are often microfinance organizations. Organised chit fund schemes are required to register with […]
Copyrights
Introduction Copyright is an intellectual property that gives exclusive right to reproduce or authorize another to reproduce artistic, dramatic, literary, or musical works. It also extends to sound broadcasting and cinematographic films. Copyright protection is limited to author’s particular expression of idea, process and concept in a tangible medium. However, law permits fair use. To […]
Annual Compliances of all types of business entities
mum 4 Board Meetings every year – A meeting of board of directors of the company should be held within 30 days of its incorporation. For this, a 7 days’ prior notice shall be given to the board of directors specifying the date, time, venue and agenda matters of the meeting. Thereafter, next every meeting […]
Trademarks
Introduction A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks. Customers identify a product by its trademark. Value and importance of trademark increases as the business grows. Trademark is a valuable property of any business. Sometimes […]
Patents
Introduction The objective and purpose of patent law is to encourage scientific research, new technology and industrial projects. Grant of exclusive rights to own, use or sell the method or the product patented for a limited period stimulates new invention of commercial utility. The fundamental principle of Patents Act, 1970 is that the patent is […]
LLP registration in India by an NRI
Earlier, NRIs and Foreign Nationals looking to start a business in India did it through the automatic route of 100% foreign direct investment (FDI) in a private limited company. Subsequently, the Indian government permitted a 100% FDI in a Limited Liability Partnership (LLP) via the automatic route. This made it easier for NRIs and foreign nationals to […]