THE DIGITAL PERSONAL DATA PROTECTION ACT, 2023
A BRIEF NOTE ON THE DIGITAL PERSONAL DATA PROTECTION ACT, 2023 The Digital Personal Data Protection Act, 2023 (DPDP Act, 2023) was passed by both houses of Parliament and thereafter received the assent of the President of India on August 11, 2023. DPDP Act, 2023 aims to protect personal data (online or offline) and the […]
Compliance Calendar July
JULY DATE COMPLIANCE 7 1) Deposit of withholding tax (TDS/TCS) for Jun 2023 2) Deposit of Equalization levy for the Month of Jun 2023 11 Filing of Monthly GSTR 1 (Outward Supply Return) for Jun 2023 13 1) Filing of Monthly GSTR 6 (ISD Return) for Jun 2023 […]
Section 185 Loan to Directors etc.
Section 185 Loan to Directors etc. Prohibition on loans and advances:- Companies, both public and private, are prohibited under Section 185 from making loans, advances, or guarantees to any of their directors or to any other person in whom the director has an interest. They are also prohibited from making guarantees or offering security in […]
Private Placement
Private Placement A corporation may need to raise money for a variety of reasons, including starting a new project, expanding an already successful operation, or meeting working capital needs. A corporation decides whether to raise money through debt financing after evaluating its present financial situation. This may involve issuing debentures, obtaining loans from banks, financial […]
Conversion of Private Limited Company into a LLP
Regulatory Framework for Conversion of Private Limited Company into LLP: Section 56 of LLP Act, 2008: A private company may be converted into LLP in accordance of Chapter X and Third Schedule of LLP Act, 2008. Rule 39 of LLP Rules, 2009: An application shall be made in form 18 for conversion of Private Company […]
Guidelines For Recognition of Startups
GUIDELINES FOR RECOGNITION OF STARTUPS Merger/ Demerger/ Acquisition/ Amalgamation/ Absorption: Resultant entity or entities formed due to merger demerger/ acquisition/ amalgamation/ absorption/will not be recognized as Startup. However, merger or amalgamation under section 233 of the Companies Act, 2013 between any of the following class of companies will be allowed subject to fulfillment of norms […]
Fast Track Merger
FAST TRACK MERGER Fast Track Merger is a provision that permits a streamlined and accelerated merger process for certain classes of companies. It seeks to simplify the merging process, save money, and guarantee that it is finished by the deadline. This provision is governed by Section 233 of the 2013 Companies Act. For particular classes […]
What is condition to file Income tax return online in India
In India, the conditions to file income tax returns (ITR) online are as follows: Income Threshold: If your total income during the financial year exceeds the basic exemption limit, you are generally required to file an income tax return. The exemption limits are subject to change each year and vary based on factors such as […]
Compounding of Offences Under the Companies Act, 2013
COMPOUNDING UNDER COMPANIES ACT, 2013 The Section 441 of the Companies Act, 2013 deals with the Compounding of offence. As per Section 441(1) of the Companies Act, 2013 notwithstanding anything contained in the Code of Criminal Procedure, 1973, any offence punishable under this Act whether committed by a company or any officer thereof not being […]
Website Disclosure under Companies Act, 2013
WEBSITE DISCLOSURE The Companies Act of 2013 requires that specific information be made available on the company website. Information such the business’s name, registered office address, corporate identity number, contact details (email, phone, fax) and representative’s name in case of complaints or inquiries. Letterhead, business letters, billheads, letter sheets, official publications, and notices must all […]
