Introduction of form MGT 7A by ministry of corporate affairs
Introduction of form MGT 7A by Ministry of Corporate Affairs Recently the Ministry of Corporate Affairs has notified a separate form for small companies and one-person companies (OPC) under section 92 read with sub-rule (1) rule 11 of the Companies Management and Administration rules. In this regard, it is pertinent to note that the Finance Bill, […]
Things to do to make your business accounting simpler
Things to do to make your business accounting simpler Separate bank account To open a separate business account right from day one of your business so it is easier to track exclusive business incomes & payments and account for them easily. It will also help to maintain clean business history & will have clear bifurcation […]
Passing the resolution by circulation
Passing the Resolution by Circulation The Companies Act, 2013 makes the provision of Passing the resolution by circulation, to transact urgent matters in cases where the holding of Board Meeting is not possible on an immediate basis or due to non-availability of Directors. As per Section 175 of Companies, Act 2013 read with Rule 5 […]
Golden Rules of Accounting
Golden rules of Accounting Every entity must present its financial information to all its stakeholders. The information provided in the financials must be accurate and present a true picture of the entity. For this presentation, it must account for all its transactions. Since economic entities are compared to understand their financial status, there has to […]
New Definition of Small Company
New Defination of Small Company The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. The MCA (Ministry of Corporate Affairs) has effected this amendment in accordance with the proposal of the Honourable Finance Minister to revise the definition […]
Format of Resignation Letter of Director
Every Director resigning from the Board of the Company must submit his resignation letter to the Board of the Company for their acceptance On receipt of resignation letter, it is placed before the Board for their perusal and further discussion. Date: ____ From, (Name of the Director) S/o. ____________ (Address of the Director as per […]
Share Purchase Agreement (“SPA”) in M&A Transactions
Share Purchase Agreement (“SPA”) in M&A Transactions Definition of Share Purchase Agreement: The share purchase agreement is a legal document that spells out the terms and conditions under which a company’s shares are sold. It distinguishes between a full sale and a partial selling of a company’s shares. There must be at least two parties […]
Know your PAN Card
Know your PAN Card The Income Tax Department has created a cure for Pan Card losses or misplacement in the form of “Know your PAN,” which gives the user all of the information available on the PAN Card. This article analyses this utility briefly. Pan Card The PAN Card is an identifying card required by […]
Virtual CFO and how it can benefit/help Start-ups
Virtual CFO and how it can help Start-ups What is CFO ? The CFO (Chief Financial Officer), person responsible for managing company’s finances, starting from book-keeping and compliance to financial planning for the organisation and corporate investments. CFO, traditionally had the responsibility to perform all reporting tasks with regard to financial aspects of the Company, […]
ESI Registration
ESI Registration in Bangalore Employee State Insurance, or ESI, is a scheme launched by the Government of India to provide workers with medical, monetary, and other benefits. Employee State Insurance Corporation is the independent authority in charge of ESI, which is overseen by the Ministry of Labour and Employment. Any company with more than ten […]
