Introduction MCA on 24th of December, 2020 inserted the new rule 9A. The rule provides the extension in the time limit for the reservation of name. Rule 9 An application for reservation of name shall be made through the web service available at www.mca.gov.in by using web service SPICe+ (Simplified Proforma for Incorporating Company Electronically Plus: …
Derivative trading (stock, index options and futures and multi commodities) has gained a nice interest with all kind of investors. Many times traders gain and many times they lose the money in the stock market. Sometimes people who are salaried or have incomes like interest or other heads, have lesser idea on how to report …
A Partnership firm gets registered under section 58 of the Indian Partnership Act 1932 and it’s done through the Registrar of Firms. A business entity that’s controlled by an association of individuals is defined as a partnership firm. The partners of a partnership firm share the liability of profit and loss. Steps to register a …
FDI or Foreign Direct Investment allows a business outside India, make an investment during a business in India. The role of FDI is best explained here and the way it helps accelerate the growth: FDI extends Capital – FDI is predicted to usher in the capital that’s important for the developing countries to enjoy better …
As per chapter X of the Companies Act, 2013, which is dealing in Audit and Auditors, An auditor can be an individual who shall be a qualified Chartered Accountant as per CA Act, 1949 or a firm having its majority members as a qualified Chartered Accountant. An auditor is an individual who is trained to …
The objective of this Standard is to prescribe the accounting treatment for income taxes. The principal issue in accounting for income taxes is how to account for the current and future tax consequences of: (a) the future recovery (settlement) of the carrying amount of assets (liabilities) that are recognised in an entity’s balance sheet; and …
What is advance tax? “Advance Tax” name itself suggests the tax that’s to be paid up in advance. Advance tax means income tax should be paid in advance rather than lump sum payment at year end. it’s also referred to as “pay as you earn tax”. These payments need to be made in instalments as …
India is one of the largest countries in the world and businesspersons here have many ideas they can put in practice by starting companies. In the past few years, the number of startup companies has started picking up in India thanks to these ideas which usually come from young entrepreneurs. In this article, our company …
A forensic audit is an examination and evaluation of a firm’s or individual’s financial records to utilize it as evidence in the court of law or legal suits. It serves as a backing to prove a fraud in the business in an apparent risk prone environment. Forensic audits have requirement of the expertise of accounting …
The entire economy of the nation is stagnant due to the current lockdown announced by the ruling in order to protect people from the COVID-19 pandemic. All the government authorized regulatory bodies are doing their best in providing relief to the individuals residing in India. One such organization is the Ministry of Corporate Affairs (MCA) …