Documents required for Public Limited Company

The documents required for the incorporation of a public limited company is of extreme importance as proper documentation needs to be done first to stay away from any encumbrances. The documents required for incorporating a Public limited company are discussed in this article. Public Limited Company is a form of company which offers its shares to the general public. It gives limited liability to its owners and shareholders. At least seven [...]

Partnership Firm Registration In India

Introduction Partnership- A very simple yet strong word. Partnership firm registration is done on many bases. It may be on a friendly basis or it can be formal. Partnership in the Corporate world refers to a relationship when two or more people decide to share the profits of a business carried on by them all or any of them acting for all. It’s generally done in legal terms. The percentage of ownership [...]

Pvt Ltd Company: Companies Act, 2013

Introduction Companies Act 2013 passed by the Parliament in August 2013 consolidates and amends the law related to corporate affairs or simply companies. A Pvt Ltd company which can have a minimum of two members and can go as far as to two hundred members have limited liability of its members but has many similar characteristics as of a Partnership firm. A Pvt Ltd Company must have a minimum of two directors [...]

Director’s Duty of a Company

Introduction The Director of a company has certain exclusive responsibilities and duties. The directors' duty is characterized by the optimization of the interests of the company while remaining constrained by the laws of the land and certain ethical and moral principles. While some of these duties are self-explanatory and obvious considering the profit motive of businesses, others require a careful perusal to ensure that the business is run efficiently. The [...]

Depreciation under Companies act 2013

Introduction The companies act, 2013 states a new way of calculating depreciation which is one of the most important provisions of the act. List of important points to remember while calculating Depreciation as per Companies Act ’2013. Schedule II lets you calculate the depreciation only on tangible assets. For calculating depreciation on intangible assets, the company must follow applicable accounting standards. Depreciation depends on the useful life of various assets. [...]

Partners in a Partnership Firm

Introduction A partnership firm is a form of business in which a group of people, also known as partners, come together. They set up their firm and provide services and products through it. However, a partnership firm is not considered to be a separate legal entity. Partners share all the profit and losses amongst each other. There is an unlimited liability given to all the partners. To become a partner [...]

Corporate Identification Number (CIN)

Introduction In the very beginning, during the time of incorporation of a company, it is a given unique code used for the identification of the company. This code is called the Corporate Identification Number (CIN). This code is provided to each and every company, irrespective of it being private, public or one person. Corporate Identification Number of every company is mentioned in the corporate directory and you can easily locate [...]

Section 8 Company

Introduction The section 8 is very similar to section 25 of the old company act and enables the government to register any association with charitable objectives such as to promote sports, commerce, art and culture, education, research etc as a limited company, without adding the words 'Pvt. Ltd.' The income of the Company must be used to promote the charitable object only. The central government provides a license to all [...]

Differences between Limited Liability Partnership (LLP) and Partnership

LLP and Partnership Firm are both the types of business formations through which Partnership business can be done. LLP is a new concept while Partnership is an old concept. LLP and Partnership are different as Partnership is an old concept while LLP is a newly established concept introduced in India by Limited Liability Partnership Act, 2008. Under the partnership, each partner owns a share of the business. This is a business [...]

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