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Any contract or arrangement entered into with a related party is deemed to be a related party transaction under the Companies Act, 2013. The Ministry of Corporate Affairs and SEBI allows related party transactions to enter into the ordinary course of business at a price applicable to other parties. But…

The state budget for Rajasthan, with the theme of "Bachat, Rahat, Badhat," was unveiled on Friday by Chief Minister Ashok Gehlot. Given that the state will have elections for its legislature later this year, this was the last budget of the current administration. All public and private institutions in the…

In India, companies are required to comply with various regulations and laws under the Companies Act, 2013. The Registrar of Companies (ROC) is responsible for overseeing and enforcing these regulations, which includes maintaining the Register of Companies. Companies need to adhere to the ROC compliance calendar to avoid penalties and…

You must pay sales taxes when you buy a product or service from a dealer. This tax is collected when you sell. You subtract the taxes paid at the time of purchase from the amount of production tax (tax on sales), and the difference is payable to the government. This…

Finance and Accounting have grown in importance in today's competitive business environment, where corporate organisations must provide an accurate and fair picture of their financial status. As a result, the use of accounting in the business sector has become an essential aspect. The Company Secretary must offer comprehensive and accurate…

It is not easy to handle such a Huge yet Amazing country like India, where diversity between cultures, religions, Class can be seen clearly. The government of India, in its day-to-day routine, has been experimenting with new Ideas to generate different revenue sources for the country. We cannot deny that in…

Do you know holding an annual general meeting is an annual procedure that every company must follow? The Ministry of Corporate Affairs (MCA) has allowed companies to hold their Annual General Meetings (AGMs) through video conferencing for the next six months. Against the set outer limit of the end of…

There are about 18 types of companies that exist in India. How many could you name? Don’t worry you can name it all after reading this blog. In our country, various forms of business organizations are observed, such as sole proprietorship, limited partnership, Limited Liability Companies, companies, etc. However, with…

In her fifth consecutive budget speech, Union Finance Minister Nirmala Sitharaman made up to five personal income tax announcements on 1st February 2023 while releasing Budget 2023. Last year's budget made no mention of income taxes. Three announcements stood out among these five. First, under the new tax regime (announced…

Before the annual Budget announcement, pictures of India's finance ministers entering parliament while carrying briefcases circulated for years. All of that changed in 2019 when Nirmala Sitharaman, the finance minister, switched in her budget briefcase for a “Bahi Khata”. Prior to the 2019 Budget presentation, Nirmala Sitharaman was spotted holding…