About Himanshu Jain

Himanshu Jain is the founder of LegalRaasta – India's top portal for registration, trademark, return filing and loans. Himanshu is a CFA (US) & MBA (ISB). He has over 8+ years of corporate / consulting experience with top firms like McKinsey

Appointment of Auditor – As per the Companies Act

By |2019-07-17T06:31:18+00:00July 17th, 2019|Categories: Accounting|Tags: , , , , , , |

An auditor is a professional who gets employed by a company to examine and review the financial records. As per the Companies Act, all entities in India, after their Company Registration is completed, must appoint an Auditor. To have the book of accounts audited every year. Whether the company is public or private, whether it has a [...]

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What is the procedure for Customs clearance ?

By |2019-07-16T12:54:29+00:00July 15th, 2019|Categories: Import Export|Tags: , , , , , , , , , , , , , |

Introduction: custom clearance procedure Custom clearance procedure works include formation and submission of documentation needed to help export procedure or imports into the country, describing the client while customs examination, evaluation, payment of duty and taking delivery of cargo from customs after clearance with documents. The documents included in customs clearance are : Exports Documentation custom [...]

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Exemption To Private Companies

By |2019-07-08T04:56:48+00:00July 6th, 2019|Categories: Private limited|Tags: , , , , , , , , , , , |

Introduction To Private Companies A significant impact was made in the corporate world by the Companies Act 2013 through the provision of doing business in India in an easy way. On 5th June 2015, the Ministry of Corporate Affairs(MCA) posted a draft notice to be published in Official Gazette announcing some exemption to Private Companies. Although there is no [...]

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MSME Databank Registration with Eligibility criteria

By |2019-07-04T11:03:31+00:00July 4th, 2019|Categories: MSME|Tags: , , , , , , , , , , , , , |

What is MSME Databank Registration? All MSME enterprises in India from now onwards need to provide information linked with business to the Government by MSME Databank. This has to be done as per the MSME- Micro, Small and Medium Enterprises Development Rules, 2009. MSME databank registration can be performed through the data bank. The medium and small [...]

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LLP Registration Fees: Documents Required and Advantages

By |2019-06-29T06:30:52+00:00June 29th, 2019|Categories: LLP|Tags: , , , , , |

What is LLP? LLP means Limited Liability Partnership which came into known in the year of 2008 under the Limited Liability Partnership Act 2008. Limited Liability Partnership is similar to the general Partnership Firm Registration. LLP Registration fees differ according to the different ca firms. CA firms fix their LLP Registration fees according to their commission system. [...]

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Small Finance Bank licence: Objectives, Rules, Key Challenges

By |2019-07-06T10:36:59+00:00June 29th, 2019|Categories: NBFC|Tags: , , , , |

Introduction Small finance banks are a type of bank that helps those sections which do not get support from other banks. Small finance banks provide basic bank facilities to the economical sections which are not supported by the other banks. It helps to provide financial aid to the small business units, small or marginal farmers, micro or [...]

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Audit Report Format: Types, Responsibilities of Auditors

By |2019-06-29T06:22:12+00:00June 29th, 2019|Categories: Accounting|Tags: , , , , , |

Introduction An audit report is a document prepared by the Auditor of the Company who must be a practicing Chartered Accountancy. The audit report format guides the auditor to make the report according to the government rules. All companies registered in India are required to appoint an Auditor and get the accounts audited each year. The audited financial [...]

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Defunct Company: Methods to Fast track exit

By |2019-06-28T11:52:02+00:00June 28th, 2019|Categories: Company Articles|Tags: , , , , , , , , , , , , |

Introduction Defunct Company is a company which does not have any asset or any liability. The Defunct company that fails to commence business in its first year of establishment. On the 5th of  April 2017, the most awaited procedure of Fast track Exit is activated. Section 248 of the Companies Act 2013 deals with the fast-track exit procedure. Strike Off [...]

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80G Certificate: Eligibility, Documents Required

By |2019-06-28T11:35:38+00:00June 28th, 2019|Categories: Company Articles, Section 8|Tags: , , , , , , , , , , , |

80G Certificate for Individuals 80G Certificate helps you to exempt yourself from paying taxes to the government partly or fully. It became a part of the law book in 1967-68 and it still holds an important part in saving taxes. You get tax exemption on your taxes if you are making donations to: Charitable trusts Section 8 [...]

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Form MGT-8: Applicability, Compliance aspects & penalties

By |2019-07-06T05:53:00+00:00June 28th, 2019|Categories: Company Articles|Tags: , , , , , |

Introduction to Form MGT-8 Form MGT-8 is a certificate for the fulfillment of the annual return certified by a Company Secretary are as follows: having paid-up share capital of ten crore rupees or more or turnover of fifty crore rupees or more by a listed company, by the practicing company secretary. According to Rule 11(2), Companies Act 2013, under Section [...]

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