Companies Act 2013 has re-defined and refined the requirements relating to appointment of a director in an existing company or during the incorporation. As per section 149(1)(a) of Companies Act 2013, a public and private limited company is required to have 3 and 2 minimum directors respectively. Similarly a One Person Company is required to have only one director. As … [Read more...] about Appointment of directors in a Company- During and after incorporation
Inspection of Company’s Books of Account and Penalty for not maintaining
In our last article we have discussed about books of accounts that a private or public limited company is required to maintain and time limit to maintain it. In this article we will be discussing who and when books of accounts can be inspected and penalty provisions if books of accounts are not maintained as required by law. Section 128 of Companies Act 2013 talks about … [Read more...] about Inspection of Company’s Books of Account and Penalty for not maintaining
Where to keep Company’s Books Of Account – Section 128 of Companies Act 2013
Section 209 of old Companies Act 1956 which deals with Books of account to be kept by a company now replaces with the new section 128 of Companies Act 2013. As per the provisions of section 128 of Companies Act 2013, every Company shall prepare and keep at its registered office, books of account and other relevant books and papers and financial statements for every financial … [Read more...] about Where to keep Company’s Books Of Account – Section 128 of Companies Act 2013
Atal Pension Yojana or APY – How to get Rs 5000 guaranteed pension every month
In Budget for the year 2015-16, Indian Government has announced the introduction of universal social security schemes in the Insurance and Pension sectors for all Indians, especially for the poor and the under-privileged. In our previous article we have discussed about Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana. One of the scheme that is … [Read more...] about Atal Pension Yojana or APY – How to get Rs 5000 guaranteed pension every month
Pradhan Mantri Jeevan Jyoti Bima Yojana – Life insurance coverage of Rs 2 Lakhs @ 330 per year
In our last article we have discussed about Pradhan Mantri Suraksha Bima Yojan, accidental death and disability coverage @ Rs 12 per year. In this article we will let you know about Pradhan Mantri Jeevan Jyoti Bima Yojana, life insurance coverage of Rs 2 laksh by paying Rs 330 per year Pradhan Mantri Jeevan Jyoti Bima Yojana or PMJJBY offers life insurance coverage of Rs.2 … [Read more...] about Pradhan Mantri Jeevan Jyoti Bima Yojana – Life insurance coverage of Rs 2 Lakhs @ 330 per year
Pradhan Mantri Suraksha Bima Yojana – Accidental death and disability coverage @ Rs 12 per year
Prime Minister Narendra Modi has launched three schemes for the benefits of Indians. All saving bank account holders must have received SMS from their bank to enroll for the schemes. Here are these three schemes; Pradhan Mantri Suraksha Bima Yojana (PMSBY) Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Atal Pension Yojana (APY) Pradhan Mantri Suraksha Bima … [Read more...] about Pradhan Mantri Suraksha Bima Yojana – Accidental death and disability coverage @ Rs 12 per year
Appointment of cost auditor in a company – Procedure and Reporting as per Companies Act 2013
In our last articles, we have discussed who can be appointed as cost auditor for a company and what are the companies required to maintain cost records and get them audited as per companies act 2013. In this article we will be discussing the procedure or process of cost auditor appointment and to whom cost auditor has to report as specified in Companies act 2013 and … [Read more...] about Appointment of cost auditor in a company – Procedure and Reporting as per Companies Act 2013
Qualification and Disqualification of Cost Auditor – Who can be appointed
In our last articles we have discussed sectors or industry to which cost audit and cost records are mandatory as per new companies act 2013 and how to appoint cost auditor in companies. In this article we will be discussing who can be appointed as cost auditor, qualification and disqualification of cost auditor. Qualification - Who can be appointed as a cost … [Read more...] about Qualification and Disqualification of Cost Auditor – Who can be appointed
Applicability of Cost Records and Cost Audit to Companies
Pursuant to Companies Act 2013, on 30th June 2014, MCA has notified Companies (Cost Records and Audit) Rules 2014. This rule has further been amended on 31st December 2014 vide Companies (Cost Records and Audit) Amendment Rules 2014. From financial year 2014-15 onwards, maintenance of cost records, cost audit and appointment of cost auditor shall be in accordance to new … [Read more...] about Applicability of Cost Records and Cost Audit to Companies
Integrated Process of Company Registration – Form INC29
With effect from 1st May 2015, government has introduced a new process of incorporation called Integrated Process for Incorporation. For this purpose a new form INC29 has been introduced. Please remember that the facility to file integrated application for incorporation of a company in Form INC29 is available as an option not mandatory. One can still follow the old procedure … [Read more...] about Integrated Process of Company Registration – Form INC29