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Financial reporting is required for businesses since it offers information on a company's current state as well as its compliance with financial, corporate social responsibility, and accounting requirements. At the conclusion of each fiscal year, public and private limited firms must produce a financial document known as the Board of…

A director may resign from his office by giving written notice to the Company, and upon receipt of such notice, the Board shall take note of it, and the Company shall notify the Registrar, as well as include the fact of such resignation in the report of directors laid before…

The Companies (Amendment) Ordinance 2018 requires all companies registered on or after November 2, 2018, to file a certificate of the beginning of the operation. Form 20A is a declaration by the directors within 180 days of the company's establishment. This is one of the most critical compliances to follow…

Public firms have permission to provide loans, guarantees, and securities under the Companies Act, 1956. They can do so as long as they acquired prior clearance from the Central Government. Section 185 (as changed by the Companies (Amendment) Act, 2017): Limits the restriction on loans, advances, and other financial transactions to…

Additional capital shares are issued through Right Issue to raise subscribed share capital of a registered company. Instead of offering shares to the general public, the Company issues shares to existing shareholders in proportion to their current holdings. It is a highly effective strategy for increasing the Company's share capital.…

The purpose of an Annual General Meeting (AGM) is for the company's management and shareholders to engage. The Companies Act, 2013 mandates the holding of an annual general meeting to examine the financial performance, the appointment of an auditor, and other matters. Some of the business that can be transacted at…

When you acquire a product or service from a dealer, you must pay sales taxes. You collect this tax when you sell. You adjust the taxes paid at the time of purchase with the amount of production tax (tax on sales), and the balance of tax liability (tax on sales less…

  When a bigger firm buys at least 50% of a company's stock, the small company becomes a subsidiary to it. When the main firm gains control, it appoints a board of directors to manage the subsidiary business. There is one question that may arise in the mind of people;…

In India, trusts established for charitable purposes and certified by the Income Tax Department are not only exempt from paying taxes, but contributors to such trusts can deduct the amount donated to the trust from their taxable income. Moreover, in India, philanthropic activities include "relief of the destitute, education, medical…

The Representation of the People Act, 1951 governs political groups in India (RPA). A certain organization of Citizens as well as group of particular Indians claiming to be a political entity must apply towards the Election Commission to be recognized as a political group as per Section 29A of a…