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The primary objective of forming a corporation as a Section 8 Company is to promote non-profit objectives such as commerce, business, the arts, charity, education, religion, environment protection, social welfare, sports research, etc. A Section 8 Company cannot be established without a minimum of two directors. A Section 8 Company's…

Corporate fraud is defined as unlawful, misleading activities conducted by a company or a person using highly trained accounting practices to inflate a company's apparent earnings, which can take years to identify. Furthermore, this article seeks to analyze the causes and impacts of fraud on corporate stakeholders. This article informs…

With the approval of the board of directors or shareholders, a corporation can provide loans and guarantees, purchase securities, or invest in another company or body corporate. Inter-corporate loans are loans made by one company to another company or body corporate. Inter-corporate investment occurs when one firm invests in another.…

If you are planning to set up a Limited Partnership or LLP in Himachal Pradesh, you will find all the relevant requirements set by the Registrar of Companies (RoC). You will also find the step-by-step process for registering a Limited Liability Partnership (LLP) in Himachal Pradesh along with other necessary…

A Hindu Undivided Family (HUF) is any individual who is lineally derived from a common ancestor, including their spouses and unmarried daughters. A typical Hindu family consists of a male Hindu, his wife, and his unmarried daughters. When a daughter marries, she no longer belongs to her father's family and…

Promoting non-profit goals including trade, business, the arts, charity, education, religion, environment protection, social welfare, sports research, etc. is the main goal of incorporating a corporation as a Section 8 Company. A Section 8 Company must have at least two directors in order to be incorporated. Additionally, there is no…

TDS was designed to collect tax directly from the source of revenue. According to this theory, a person (deductor) who is compelled to make a certain payment to another person (deductee) must deduct tax at the source and deposit it in the account of the Central Government. The deductee whose…

Warehousing and storage of agricultural produce come under Service Account Code 9986 and are exempted under Insert No. 54(e) of Notification No. 12/2017-Central Tax (Rate) dated 28.06.2017. However, the provision of cold storage services to non-agricultural products would remain subject to GST at 18%. Let us discuss the applicability of…

Do you know what "leave encashment" means? The salaried class frequently uses the idea of leave encashment. It seems like you may make money even from your leaves. The sum of money received in return for a leave time that an employee did not use is known as a leave…

The minute of the general meeting is an integral document of the Company, which must be drawn up and kept in the same way as accounting books. The minutes are a summary of the distilled wisdom of the board, their views, thoughts, and aspirations, providing strategic guidance and a blueprint…