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How can a company take Loan from directors and relatives and shareholders?

Funds borrowed from people who are either a part of the firm or have a personal connection to the directors are loans from directors, shareholders, and relatives of the directors.  When a business is unable to secure finance from conventional sources like banks or financial organizations, these loans can help. Businesses in India may borrow …

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Difference between TIN, TAN, VAT, PAN, DSC and DIN

A person must comprehend the fundamental differences between the TIN, TAN, PAT, DIN, DSC, and VAT before starting a firm. These three-letter terms are extremely important for any business owner to grasp since they will aid in understanding the compliance requirements when starting a business and engaging in any financial activity with the intent of …

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City Union Bank Current Account

City Union Bank was incorporated as ‘The Kumbakonam Bank Limited‘ back in 1904. S.Krishna Iyer, Sarvashri R. Santhanam Iyer, and V.Krishnaswami Iyenga were some of the twenty citizens of Kumbakonam who signed the first Memorandum of Association. Initially, the bank was founded as a regional bank. In 1965, there was an amalgamation of the bank with …

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Generation of UDIN by PCS

For strengthening the practicing side of the Company Secretaries the ICSI has now initiated to use of the UDIN for attestation and certification of service documents by all company secretaries. The UDIN is the Unique Document Identification Number. The rules governing has been added vide terms of Clause(I), Part 2 of the second schedule of …

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Registration of organisation

NGO (Non-Government Organisation) is an organization that works for non-profit/ charitable purposes. An NGO established as Section 8 company under the Companies Act, 2013 (‘Act’) is governed by the Ministry of Corporate Affairs (‘MCA’) whereas the NGO registered as a trust or society is governed by the registrar of state under the State Government. Section 8 company …

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Electronic Clearing System (ECS)

Electronic Clearing Service or ECS is a method of transferring funds electronically and is generally used for bulk transfers. This method is used for funds which are both repetitive and periodic in nature. This method of fund transfer is usually used by large organisations or institutions for bulky transfers like salaries, fees, pensions, interests, dividends, …

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C Form

To engage in business transactions across different states, a certificate, commonly known as the “C form,” becomes a crucial element. This certificate is issued by the seller of goods to the buyer, serving the purpose of reducing the applicable tax rate. In instances of interstate sales, the utilisation of the “C” form is indispensable. Any …

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License for distributor of electricity in india

(1) No person, other than those authorised to do so by license or by virtue of exemption under this Act orauthorised to or exempted by any other authority under the Electricity (Supply) Act, 1948 (Central ActNo. 54 of 1948), shall engage in the State in the business of,-Transmitting electricity; orDistributing and supplying electricity.(2) Where any …

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