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 […]
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 […]
A private limited company is requires to file certain forms as an annual Compliance. Form MGT-7 Form MGT-7 which includes information about the company, its shareholders, Directors, KMP etc. as on 31st March and filed with ROC. As per Section 92 & Rule 11, 12 of Companies (Management & Administration) Rule 2014 all class of Companies included […]
What is a Producer Company? A producer company is a body of farmers/ agriculturists, Incorporation of producer company is for benefits given to Farmers Under Companies Act 1956, a Producer Company can be formed as per Section 581C of Chapter II of Companies Act, 1956 by 10 individuals (or more) or 2 institutions (or more) […]