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…
Incorporation of Wholly Owned subsidiary Company or Subsidiary Company of Foreign Company in India 1. Foreign Subsidiary A subsidiary company of foreign Company in relation to foreign holding means a company in which a foreign holding Company a. Control the…
What is the meaning of income tax? Taxes are of two types, namely, ‘Direct Tax’ and ‘Indirect Tax’. Taxes that are directly levied on the income is known as ‘Direct Tax’ For e.g. ‘Income Tax’. The income earned is divided…
FDI is one of the important tools of economic growth for a developing nation like India. So to boost the flow of foreign investment the process of liberalization is undertaken. However, liberalization of an economy always comes with regulations. Routes for FDI…
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…
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…
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…
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…
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…
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…
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…
Introduction A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two subsidiaries that belong to the same parent company are called sister companies. The subsidiary can be a company, corporation or limited liability company, and in some cases…
Introduction In India, population of youngsters is very high and maximum of youngsters have a dream to become entrepreneur. Some of them have a workable business idea in their mind and on paper but due to shortage of funds they…
Introduction The primary object of Nidhis is to carry on the business of accepting deposits and lending money to member-borrowers only against jewels, etc., and mortgage of property. For over a century Nidhis, with the objective of cultivating the habit…
Introduction A producer company can be defined as a legally recognized body of farmers/agriculturists with the aim to improve the standard of their living and ensure a good status of their available support, incomes and profitability. Under Companies Act 1956,…
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…
Incorporation of Wholly Owned subsidiary Company or Subsidiary Company of Foreign Company in India 1. Foreign Subsidiary A subsidiary company of foreign Company in relation to foreign holding means a company in which a foreign holding Company a. Control the…
Choosing the best structure for business can be dicey and confusing. Various factors are needed to be kept in mind while choosing because each form of business has different way of registration, different tax compliance, different liability, jurisdiction, authority, management…
FDI is one of the important tools of economic growth for a developing nation like India. So to boost the flow of foreign investment the process of liberalization is undertaken. However, liberalization of an economy always comes with regulations. Routes for FDI…
Let’s understand in detail: What is Foreign Company, Branch Office/ Liaison OfficePermitted and Prohibited areas Rules and regulations for establishment of branch/liaison offices Tax Implications Note: This definition includes a Branch Office; all the provisions of the Companies Act applying to…
Non-government organizations in India can be structured and incorporated as one of the following three forms: TrustSocietyNon-Profit Company under Section 8 of The Indian Companies Act, 2013 Comparison between a trust, a society and a non-profit company TrustSocietySection 8 CompanyStatuteIndian…
GST on combined travel packages The new idea of businesses comes with more challenges, more complexity and opportunity. As per Heading 9985 of GST Tariff Act, 2017, the rate of GST would be 5% (2.5% CGST+2.5% SGST) provided following conditions…
All Transport services by road are exempt from GST except services from Goods Transport Agency (GTA) and Courier agency. Anyone who provides consignment note for goods delivery will be treated as GTA. Mere Bill is not a consignment note. 5%…
Introduction of GST in India On July 1, 2017 President Late Pranab Mukherjee and current Prime Minister Narendra Modi rolled out the GST in a special midnight session which both houses of parliament attended. This reform is expected to unify…
