Depreciation under Companies act 2013
Introduction The companies act, 2013 states a new way of calculating depreciation which is one of the most important provisions of the act. List of important points to remember while calculating Depreciation as per Companies Act ’2013. Schedule II lets you calculate the depreciation only on tangible assets. For calculating depreciation on intangible assets, the company must follow applicable accounting standards. Depreciation depends on the useful life of various assets. [...]
Get FSSAI License in India
FSSAI means food safety and security authority of India. It’s an agency under the control of Indian government and ministry of health and family affair. The FSSAIhas established under the act of food safety and security act of 2006. It is basically an organisation made for protecting the health of the people. It promotes the health of the public through supervision of this act. The chairperson of the FSSAI is [...]
Factors considered by Venture Capitalists
Venture capital is putting resources quite often into organizations that are now in business and have exhibited the possibility to end up stars or, even better, whizzes in their industry. Nothing energizes financial speculators more than an organization with an item or administration that is now being purchased by fulfilled clients. Funding quickens the commercialization of new items and administrations; it from time to time pays for the introductory improvement of [...]
Partners in a Partnership Firm
Introduction A partnership firm is a form of business in which a group of people, also known as partners, come together. They set up their firm and provide services and products through it. However, a partnership firm is not considered to be a separate legal entity. Partners share all the profit and losses amongst each other. There is an unlimited liability given to all the partners. To become a partner [...]
Types of Directors as per Companies Act 2013
INTRODUCTION According to "Section 2(34) of Companies Act 2013 " a director is appointed to the Board of a Company. There are many types of directors which have a different role to play accordingly. Here in this article we will discuss types of directors in a company according to the companies act, 2013. TYPES OF DIRECTORS Residential Director: - According to Section 149(3) of Companies Act,2013, Every company should appoint a director who has stayed in [...]
Corporate Identification Number (CIN)
Introduction In the very beginning, during the time of incorporation of a company, it is a given unique code used for the identification of the company. This code is called the Corporate Identification Number (CIN). This code is provided to each and every company, irrespective of it being private, public or one person. Corporate Identification Number of every company is mentioned in the corporate directory and you can easily locate [...]
Procedure for form 15CA and 15CB
Introduction to form 15CA and 15CB A person making remittance or in simple words a payment to Non-resident(not being a company) or foreign company has to fill form 15CA and sometimes 15CB depending upon the conditions in which the payment is being made. Form 15CA can be filled online and is done so that The Income Tax Department can keep a record of all the foreign remittances separately. It helps [...]
Registration Process for Registered Office Services
Introduction Every company on and from the fifteenth day of the incorporation should have a registered office which will be capable of receiving all the necessary information and notices. Within a period of thirty days of incorporation, every company should send the documents to its registered office to the registrar of the company. Any change in the address of the office should be informed to the registrar within 15 days [...]
Loans to Directors
Loans which can be offered Similar to the old company law, the new company law also prohibits a company from giving any kind of loans to directors or to the following people- (a) Any director of the Company or it's helping company or a partner or relative of any director of the lending company (b) Any firm or business in which any of the director or a relative of the [...]
Section 8 Company
Introduction The section 8 is very similar to section 25 of the old company act and enables the government to register any association with charitable objectives such as to promote sports, commerce, art and culture, education, research etc as a limited company, without adding the words 'Pvt. Ltd.' The income of the Company must be used to promote the charitable object only. The central government provides a license to all [...]