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There is no provision in the Companies Act 2013 for the annulment of a resolution, whether it is a resolution of the board of directors or a resolution passed at a general meeting. However, sometimes there are circumstances where it is necessary to cancel/revoke the resolution, and the Board of…

A Limited Liability Partnership is a globally recognized business entity. It was introduced in India by the procedure under the Limited Liability Partnership Act, 2008. Additionally, it includes the benefits of both companies as well as partnerships under one LLP name. The LLP rules are set by the Registrar of…

The tax on the income of educational institutions often remains the most controversial topic. The nature of educational institutions such as top educational institutions providing modern and equipped learning aids, offering air-conditioned buses and classrooms, and maintaining the highest standard of hygiene is involved in activities that are charitable or…

The Government of India has enacted the Black Money Act, 2015 (BMA 2015) in addition to the existing Income Tax Act, 1961 to punish ordinary residents of India (taxpayers) who have Undisclosed Foreign Incomes and Assets (UFIA) earned through illegitimate activities, resulting in a loss of income tax (revenue) to the…

Indian taxes are classified into two types: direct taxes and indirect taxes. Direct taxes are levied on the income earned by various types of business entities during a fiscal year. There are various types of taxpayers who are registered with the Income Tax Department and pay taxes at various rates.…

'Har Ghar Tiranga' is a campaign organized by Azadi Ka Amrit Mahotsav to encourage people to carry the Tiranga home and hoist it to commemorate India's 75th year of independence. We've always had a more official and institutional relationship with the flag than a personal one. Bringing the flag home…

Due to the complexity of different industrial areas, corporations and individuals always struggle to comply with FEMA/RBI rules within the allotted period. Globalization has greatly raised the significance of FEMA/RBI compliance. We have a knowledgeable staff that specializes in the following Foreign Exchange Management Act, 1999 related activities as well as…

Small-scale enterprises are critical to every country's economic development. The government of India has introduced a number of initiatives to assist small and medium-sized enterprises in sustaining and growing. To take advantage of any of these advantageous programs, you must first register as an MSME. MSME registration is sometimes referred…

The recently adopted gaming Bill, which was submitted in the Lok Sabha on April 1, 2022, properly states that India has about 420 million active online gamers with a $1 billion value, with the sector expected to expand to $5 billion by 2025. Given the gaming company’s exponential expansion and…

Before launching a business, each factory owner is required under the Factory Act, 1948 to register their premises with municipal authorities. A factory license is an authorization document issued by authorities to carry out manufacturing activity. According to the Factories Act, of 1948, before registering a factory, a plant must receive…