CHARGE ON ASSETS

Companies Act, 2013 defines “charge” as an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage. There are various forms of creation of charge. Some of the terms used of creation of charge are: Mortgage, Hypothecation, Pledge, etc. Although […]

NEW RULE 25B – PHYSICAL VERIFICATION OF REGISTERED OFFICE BY MCA

COMPANIES (INCORPORATION) THIRD AMENDMENT RULES, 2022 Companies (Incorporation) Third Amendment Rules, 2022 has been notified on 18th August 2022 by Ministry of Corporate Affairs (MCA) to further amend the Companies (Incorporation) Rules, 2014. In this amendment, MCA has introduced a new Rule 25B, which is about Physical verification of the registered Office of the Company. […]

ADVANTAGES OF BEING AN SME

A lively Small and Medium-sized Enterprise (SME) sector is an imperative element for a solid market economy. SMEs assume a significant part in the political economy, assisting to promote and strengthen reforms. There are about 44 million MSME units in India which contribute 45% of the India’s manufacturing output, account for about 35 % of […]

AMENDMENTS – CARO 2020

APPLICABILITY: CARO 2020 is applicable to all the companies which were covered under CARO 2016. There has been absolutely no change on the applicability of CARO with respect to CARO 2016. It is applicable to all the statutory audits commencing on or after 1st April, 2021 corresponding to the financial year 2020-21. Previously, there were […]

No Depreciation on Goodwill from 1st April-2021

The Hon’ble Finance Minister presented the Union Budget 2021 on 01 February 2021 wherein announced “No depreciation to be allowable on Goodwill from 01 April 2021” (assessment year 2021-22 onwards). The tax authorities always argued that the depreciation on goodwill in business restructuring like Merger and Acquisition should be disallowed. The rationale beside that no […]

Corporate Social Responsibility (CSR)

What is Corporate Social Responsibility? CSR is a responsibility of a Company’s towards the community and environment in which it operates. CSR is a way of conducting business, by which corporates contribute to the social good. Companies contribute for the betterment of our society out of the profit as a mandatory provision under section 135 […]