A private limited company is the most preferred type of business entity in India. Each year nearly a lakh companies are incorporated in India. All private limited companies registered in India are required to file income tax returns in ITR-6 return filing or ITR 7 each year mandatorily, irrespective of turnover or profitability. Hence, even private limited companies incorporated and […]

The compensation of Executive and Non-Executive Directors has traditionally been one of the most thoughtful and contentious corporate governance topics. The subject has gained in significance since it affects the company’s cash outflow, the computation of net profits, the disclosure of information to shareholders, and the approval of Directors, shareholders, and the Remuneration Committee.  All

Form DIR – 2 is a document in which an individual declares his consent to be appointed as a Director of a certain company. It is documented proof of this effect. The form contains the name, address, occupation, and contact details of the individual. The DIN and PAN details too are provided in it. It

Businesses produce financial statements (i.e., income statement, balance sheet, cash flow statement, etc.) to provide information about their financial performance to stakeholders, such as investors, employees, banks, regulatory bodies, and so on.A financial audit is a thorough, detailed examination of a company’s financial statements and accounts. A dispassionate third-party auditor conducts the audit and develops an audit opinion

Resolution is a decision or agreement mane by the directors and shareholders of the company. When a resolution is proposed it is called motion. After passing a resolution company is bound to act according to it.A resolution is a formal way in which a company can note decisions that are made at a meeting of

A process audit is a structured review of an organization’s processes to identify where improvements can be made. Process audits can help organizations improve the efficiency and effectiveness of their operations by identifying areas where improvements are needed. An audit aims to determine whether a company adheres to expected standards by objectively analyzing and examining its operations.

Sweat equity shares are a unique financial instrument that allows companies to reward their employees and directors for their valuable contributions. These shares are issued either at a discounted rate or for non-cash consideration, recognizing the intellectual property, know-how, or other value additions brought by individuals to the company. Section 54 of the Companies Act,

Companies and LLPs in India are required to comply with annual filings under the Companies Act, 2013 and the Limited Liability Partnership Act, 2008. The filings with the ROC should be made once a year or on the occurrence of specified events. The ROC i.e. Registrar of Companies requires all companies registered in India to file certain

If a company accepts foreign investment, the Reserve Bank of India issues forms FC-GPR. As a result, the corporation will grant shares in exchange for a foreign investor’s investment. Additionally, the corporation must submit information on this share allotment using Form FC-GPR.  When a company receives foreign investment, form FC-GPR is issued by the Reserve

Every PAN card applicant is required to enter the AO (Assessing Officer) code in the top right corner of the application form. The AO code for the PAN card consists of four elements: the area code, the range code, the AO number and the AO type. someone applies for a new PAN Card, they must input an AO code