KEY AMENDMENTS TO COMPANIES ACT, 2015: No requirement of Common Seal: Not mandatory to have common seal in the company In such a case, documents shall either be signed by 2 Directors, or 1 Director and Company Secretary, jointly   No need of Certificate of Commencement of business: No need of Certificate of Commencement of...Continue Reading

New Rate of Service Tax @14% (including all cess) will be effective from 01st June, 2015   IMPORTANT TO NOTE: Additional 2% “Swachh Bharat Cess” is not notified yet, hence not leviable/chargeable.   EFFECTIVE RATES IN CASE OF ABATEMENT (AS APPLICABLE) WILL BE:   SN Service Provided Effective Dates Effective Service Tax Rates New Abatement...Continue Reading

Due to implementation of Companies Act, 2013, effective 01st April, 2014, the companies have been entrusted with increased number of compliances and reporting. The Management is now required to keep the Company Secretary (internal or external) informed for certain business events, so that such transactions can be ratified/ approved through valid secretarial interventions.   We have...Continue Reading

The Union budget 2015-16 presented on 28th February, 2015 encompasses the fact that Government of the day is focused on consolidating the growth factors with achievable plan of actions. We have tried to bring out certain critical changes that this budget proposes, and that may impact the business decisions or individuals tax planning. Following are...Continue Reading

Why Secretarial Audit is needed? The objective of Secretarial Audit is to assure various stakeholders and regulators that the affairs of the company are being carried out in accordance with the laws, rules and regulations applicable to the Company.   Applicability of Secretarial Audit As per Section 204(1) read with Rule 9 of The Companies...Continue Reading

Can a Company grant Loans/ Security/ Guarantee? A company, whether Public or Private, is allowed to grant any loan, guarantee, any loan represented by a book debt or book entry, or provide any security against any loan, to persons other than specified under Section 185. Whom Company cannot grant Loans/ Security/ Guarantee? Section 185 prohibits...Continue Reading

Mentioning Director Identification Number (DIN): Every Director while signing any document in the capacity of Director shall mention his/ her Director Identification Number along with address as provided to the Ministry of Corporate Affairs. Duties of Directors: It is the very first time that the Companies Act, 2013 has specifically mentioned the duties of Directors....Continue Reading

The Companies Act, 2013 by way of Section 73 to 76 has bought many changes in respect to acceptance of Deposits by any Company, including Private Limited Company.   What is considered as ‘Deposit’?   The following will be included in the definition of Deposit:   Any amount received against subscription to any securities including...Continue Reading

New Companies Act, 2013 makes the capital investment challenging by introducing new provisions regarding fund raising in any form of Company. There are various modes of raising funds by any Company, as listed below: Public Company: Public Offer Private Placement Right Issue or Bonus Issue   Private Company: Private Placement Right Issue or Bonus Issue...Continue Reading

  IMPORTANT DUE DATES FOR FILING MANDATORY DOCUMENTS WITH MINISTRY OF CORPORATE AFFAIRS: COMPLIANCES REQUISITE FORMS DUE DATE OF FILING Board Resolution for acceptance of Disclosures of Directors in Form MBP-1 e-Form MGT-14 Within 30 days of the Board Meeting in which noting of disclosures has been made Board Resolution for Adoption of Financial Statements,...Continue Reading