967

Web based Nidhi Company software in India – NidhiExpert

Posted on by Fastlegal Team

“NidhiExpert”-A web based Nidhi Company software in India for managing financial and compliance related affairs of Nidhi Companies.

“NidhiExpert” was launched around 2 years ago and and become most popular software among Nidhi Companies in India .

Main Features of Nidhiexpert Nidhi Company Software :

  • Cloud Ready
    • Get set ready Go! Start on-boarding new customers in 12hrs.
    • Secure loan & deposit management Software to keep your data Safe.Your data is Secure
  • No Need of Pre-printed Stationery
    • Membership Form, Loan and Deposit Application Form, FD/RD Bond, Loan and Deposit Account Statements.
  • Store Documents & Cases
    • Store as many Documents and case details as you want.
  • Accounting, Tax, P&L and Auditing friendly
    • Manage & Customize all your Accounting operations on the same Software.
  • Mobile Ready Solutions
    • Easily access and manage all your data from the Mobile.
  • Create and Manage Multiple Branches with ease
  • Multiple User Software with Single Point Admin Control
  • Manage Multiple Loan Types
    • Opening of Branch wise Deposit & Loan Accounts.
    • Branch Wise Report of Loan and Deposit Accounts.
    • Date Wise Collection Report of Branches.
    • Date Wise Disbursement Report of Branches.
    • Create Unlimited User.
    • Manage User Rights.
    • Activation/De-activation of User Account.
    • Set Timings for Users to access the Software.
    • Gold/Jewellery Loan
    • Loan Against Deposit
    • Property/Mortgage Loan
    • Fixed EMI Loan
    • Cash Credit Limit

Manage Multiple Deposit Types, Print System Generated Forms, Receipts and Agreements

  • Statutory Compliance as per Companies Act & Nidhi Rules,2014
    • • Saving Account
    • • Fixed Deposit Account
    • • RD Account
    • • MIS Account
    • • Deposit Account Application Form(Saving,RD,FD & MIS)
    • • Loan Account Application Form (For All Loan Types)
    • • Membership Application Form
    • • Cash/Bank Receipts
    • • Share Certificates and Share Transfer Form
    • • Loan Agreement
    • • Auto Generated Share Folio Number
    • • List of Shareholders
    • • Details of Share Transfer
    • • Form NDH-3 & NDH-1
    • • Calculate amount of unencumbered deposit
    • • Statutory Compliance Calendar
  • Customer Login and Fund Transfer
  • SMS to Account Holders
  • System Generated Ledgers and Voucher Entry
    • • Create Customer Login ID & Password
    • • Customer can login and check their statements & dues
    • • Intra-Nidhi Fund Transfer
    • • OTP based authentication for Transfer of Funds
    • • Auto SMS on Account Opening, Deposit and Withdrawal of Amount with updated balance
    • • Fully Customize the message content
    • • Manage member wise message sending
    • • System generated vouchers for financial transactions
    • • Auto voucher entry for financial transactions
    • • Trial Balance
    • • Profit and Loss Account
    • • Balance Sheet
  • Ledger Creation and Voucher Entry
    • • Ledger Groups
    • • Create Ledgers
    • • Post Voucher entry
  • • Complete Accounting Solution

Request a Demo-Whatsapp or Call At +91-96641-46595

844

कंपनी Return फाइल करने के लिए नई स्कीम क्या है – बिना लेट फीस के साथ फाइल करे कंपनी की return

Posted on by Fastlegal Team
  • क्या है यह कंपनी फ्रेश स्टार्ट स्कीम – 2020 (CFSS-2020) में :

कंपनी फ्रेश स्टार्ट स्कीम -2020 ROC / MCA के साथ E फॉर्म भरने के लिए अतिरिक्त शुल्क के भुगतान के लिए छूट के लिए है और अभियोजन के लॉन्च से प्रतिरक्षा या जुर्माना लगाने की कार्यवाही

  • कौन कौन से फॉर्म करे सकते है फाइल :
  • कंपनियों जो वार्षिक Return और आरओसी / एमसीए यानी फार्म एओसी -4, एओसी-4 एक्सबीआरएल, एओसी-4 सीएफएस के लिए वित्तीय विवरण दर्ज नहीं करवाई हैलिए,फार्म MGT-7
  • कंपनियों जो किसी भी ई फार्म कि करने के लिए दायर किया जाना आवश्यक है नहीं दर्ज कराई है आरओसी / एमसीए और दायर नहीं अर्थात फॉर्म एमजीटी -14, एडीटी -1, फॉर्म डीपीटी -3, फॉर्म डीआईआर -12, फॉर्म 20 ए, आईएनसी 22
  • अवधि जिसके लिए रिटर्न सीएफएसएस-2020 के तहत तक दाखिल किया जा सकता है।
  • 01-04-2020 से 30-09-2020
  • शुल्क दस्तावेज दाखिल करने के लिए देय
  • सामान्य फाइलिंग शुल्क
  • क्या है फॉर्म सीएफएसएस -2020
  • ई फॉर्म
  • आवश्यक हैएमसीए के साथ दायर किया जाना चाहिए
  • योजना के अंत के बाद6 महीने के भीतर
  • ई फॉर्म सीएफएसएस -2020 के लिए कोई फाइलिंग शुल्क सीएफएसएस की-
  • कंपनी जो इस स्कीम का लाभ नहीं ले सकती :
  • कंपनी Strike off के तहत बंद
  • Strike off कंपनियों
  • प्रसुप्त कंपनियोंकी स्थिति प्राप्त करने के लिए दायर आवेदन
  • लुप्त कंपनियों
  • फोrm एसएच 7 अधिकृत में वृद्धि के लिए शेयर पूंजी
  • फार्म CHG -1, CHG -4, CHG -8, CHG-9 का शुल्कसे संबंधित
  • निष्क्रिय कंपनियों को क्या करना होगा :

–

  • Dormant कंपनी की स्थिति प्राप्त करने के लिए आवेदन
  • कंपनी जिसका नाम स्ट्राइक ऑफ के लिय आवेदन करना
  • आरओसी / एमसीए द्वारा एक्शन :
  • यदि लंबित रिटर्न / दस्तावेजदाखिल नहीं किए जाते हैं तो
  • एमसीए / आरओसीकंपनी अधिनियम, 2013 के प्रावधानों के अनुसार कार्रवाई करेंगे जो बहुत ही उच्च दंड का प्रावधान करता है
5

YouTube चैनल विज्ञापन व्यवसाय के लिए कानूनी पंजीकरण के लिए आवेदन कैसे करें

Posted on by Fastlegal Team

YouTube चैनल विज्ञापन व्यवसाय के लिए कानूनी पंजीकरण के लिए आवेदन कैसे करें

यदि आप YouTube चैनल चलाते हैं और विज्ञापनों या किसी अन्य रूप से अपने YouTube चैनल को व्यवसाय के रूप में पंजीकृत करने के लिए धन कमाते हैं, तो विज्ञापनों के माध्यम से पैसा कमाना एक विज्ञापन व्यवसाय है और आपको अपना पंजीकरण करना होगा भारत में पंजीकरण के लिए उपलब्ध किसी भी व्यावसायिक संरचना के साथ व्यापार, इस पोस्ट में मैं आपको भारत में YouTube चैनल के लिए कानूनी पंजीकरण प्रक्रिया के बारे में बताऊंगा:

व्यवसाय संरचना चुनना:

भारत में व्यवसाय विभिन्न प्रकार के व्यवसाय संरचनाओं के माध्यम से किया जा सकता है YouTube चैनल के पंजीकरण के लिए उपलब्ध है जो आपको उपलब्ध व्यावसायिक संरचनाओं के बारे में पता होना चाहिए:

प्रोपराइटरशिप फर्म व्यवसाय:

प्रोपराइटरशिप कोई भी एकल व्यक्ति जो व्यवसाय कर रहा है, अपने स्वयं के नाम के तहत पंजीकरण कर सकता है और प्रोपराइटरशिप फर्म अपने स्वयं के नाम से अलग इकाई में नहीं होगा। मालिक। यदि आप एक अकेले व्यक्ति हैं और YouTube पर विज्ञापनों के माध्यम से कुछ पैसा कमा रहे हैं, तो आप एक प्रोपराइटरशिप फर्म को पंजीकृत कर सकते हैं।

भारत में प्रोपराइटरशिप फर्म का पंजीकरण अनिवार्य नहीं है, लेकिन बैंक खाता खोलने के लिए बैंक आपसे आपके व्यवसाय के नाम पर कुछ पंजीकरण मांगेगा, जैसे यदि आपके व्यवसाय का नाम आपके व्यवसाय बैंक खाते की तुलना में “मेरा अध्ययन” होना चाहिए के “MY STUDIO”नाम पर

एक विज्ञापन व्यवसाय के रूप में एक नए स्वामित्व वाली फर्म पंजीकरण केआप उद्योग आधार पंजीकरण प्राप्त कर सकते हैं और अपने बैंक को अपने केवाईसी दस्तावेज के साथ अपना आधार पंजीकरण पंजीकरण प्रमाण पत्र प्रस्तुत कर सकते हैं जिसमें आप बैंक खाता खोलना चाहते हैं। अपनी फर्म का नाम।

अब आप अपनी कंपनी के तहत प्रोपराइटरशिप फर्म के तहत फर्म बैंक खाते में भुगतान स्वीकार करके अपना व्यवसाय शुरू करते हैं।

अब आपको व्यक्तिगत नाम के तहत अपना आयकर रिटर्न दाखिल करना होगा क्योंकि व्यवसायिक आय प्रारंभिक आधार और आवश्यक करों का भुगतान करती है, यदि भुगतान करना आवश्यक है, तो प्रोपराइटरशिप फर्म के लिए अलग से पैन नंबर की आवश्यकता नहीं है, प्रोपराइटर का पैन नंबर पैन होगा एक फर्म की संख्या।

यदि आप एक ब्लॉग चलाते हैं, तो भी आपको प्रत्येक प्रकार के व्यवसाय के लिए अलग पंजीकरण प्राप्त करने की आवश्यकता नहीं होती है और उसी व्यवसाय या फर्म के तहत आप विज्ञापनों के लिए अपना भुगतान प्राप्त कर सकते हैं, या सेवाओं के लिए अन्य चालान कर सकते हैं।

साझेदारी फर्म:

यदि आप एक एकल विज्ञापन व्यवसाय, YouTube चैनल या ब्लॉग या किसी अन्य प्रकार के विज्ञापन व्यवसाय में चल रहे दो या अधिक व्यक्ति हैं, तो आपकोको परिभाषित

  • लाभ साझाकरण अनुपात,
  • पूंजी योगदान और
  • अपने व्यवसाय मेंकार्यकरना होगा जिसके लिए आप यह कर सकते हैं

साझेदारी विलेख में विवरणों का उल्लेख करके कि लाभ साझा करने का अनुपात क्या होगा, प्रत्येक भागीदार द्वारा कितना पूंजी योगदान किया जाएगा और

फर्म के बैंक खाते को कैसे संचालित किया जाएगा, फर्म के बैंक खाते को किसी भी द्वारा संचालित किया जाएगा। फर्म या बैंक खाते के साझेदारों को फर्म के नाम से संयुक्त रूप से सभी भागीदारों द्वारा संचालित किया जाएगा

और साझेदारी फर्म शुरू करने के लिए निम्नलिखित चरणों का पालन करना आवश्यक है

  • साझेदारी का मसौदा तैयार करना भागीदारी
  • की डीड पर
  • हस्ताक्षर करना साझेदारी का हस्ताक्षर
  • करना पार्टनरशिप फर्म के पैन नंबर के लिए
  • पंजीकरण दस्तावेजों पर हस्ताक्षर करना पंजीकरण
  • फर्म के रजिस्ट्रार के साथ साझेदारी फर्म का पंजीकरण

एक बार सभी के लिए रैलियाँ अब पूरी हो चुकी हैं, आपको फर्म के नाम से एक बैंक खाता खोलना होगा और विज्ञापन शुल्क या किसी भी अन्य सेवाओं के लिए इनवॉइस के भुगतान को स्वीकार करना शुरू करना चाहिए, जिसमें शामिल हैं और साझेदारी विलेख।

एक साझेदारी फर्म की आय एक फर्म की आय है और साझेदार साझेदारी फर्म से पारिश्रमिक ले सकते हैं, साथी द्वारा प्राप्त पारिश्रमिक को एक व्यावसायिक आय के रूप में माना जाएगा और साझेदार

सीमित देयता भागीदारी (एलएलपी)

लिमिटेड देयता भागीदारी का हाथ है सीमित देयता के साथ साझेदारी के रूप में भी, सभी एलएलपी एक अलग कानूनी इकाई है।

LLP को कॉर्पोरेट मामलों के मंत्रालय द्वारा विनियमित किया जाता है और LLP का पंजीकरण भारत में केंद्रीय पंजीकरण केंद्र crc के लिए किया जाता है, LLP के अधिकार क्षेत्र राज्य की कंपनियों के रजिस्टर के साथ निहित होते हैं, जिसमें LLP का पंजीकृत कार्यालय

पंजीकरण के लिए प्रक्रिया है। सीमित देयता भागीदारी (एलएलपी)(साझेदारी साझेदारी के

  • के डिजिटल हस्ताक्षर प्राप्त करने के लिए आवेदन
  • एलएलपी समझौतेरूप में एक ही)
  • सीआरसीसाथ आवेदन
  • हस्ताक्षर और एलएलपी समझौते के मुद्रांकन केएलएलपी समझौते के
  • एलएलपी पंजीकरण के 30 दिनों के भीतर आरओसी के साथदाखिल।

प्राइवेट लिमिटेड कंपनी

प्राइवेट लिमिटेड कंपनी व्यवसाय के लिए सबसे लोकप्रिय संरचना है। प्राइवेट लिमिटेड कंपनी बाहर से फंडिंग और फॉरेन डायरेक्ट इन्वेस्टमेंट की आसानी से अनुमति देती है।

प्राइवेट लिमिटेड कंपनियों के लिए बोर्ड मीटिंग, कॉर्पोरेट मामलों के मंत्रालय के साथ पंजीकृत सुरक्षित ऋण, महत्वपूर्ण मामलों के लिए सदस्यों की बैठक आयोजित करना, उनकी बोर्ड रिपोर्ट में महत्वपूर्ण मामलों के बारे में पूरा खुलासा करना आवश्यक है। कंपनी कानून द्वारा प्राइवेट लिमिटेड कंपनी पर लगाए गए इन सभी विनियामक खुलासों और आवश्यकताओं के कारण, वे एक सीमित देयता भागीदारी (एलएलपी), एक व्यक्ति कंपनी (ओपीसी) या सामान्य साझेदारी की तुलना में अधिक विश्वसनीयता के साथ देखे जाते हैं।

प्रक्रिया निजी लिमिटेड कंपनी के पंजीकरण के लिए

  • डिजिटल हस्ताक्षर प्राप्त करने के लिए आवेदनहस्ताक्षर
  • । निगमन दस्तावेजों पर
  • कंपनी के निगमन के लिए आवेदन

इन दिनों भारत सरकार ने निजी कंपनियों के पंजीकरण को काफी हद तक सरल कर दिया है और अब निजी सीमित कंपनी के लिए आवेदक पैन कर सकते हैं। कंपनी का पंजीकरण प्रमाण पत्र प्राप्त करते ही TAN, ESIC EPFO ​​और कंपनी का बैंक खाता।

निजी लिमिटेड कंपनी में दो या दो से अधिक व्यक्तियों की आवश्यकता होती है और इस अधिनियम में एक निदेशक और कंपनी के शेयरधारक होते हैं, जबकि निजी लिमिटेड कंपनी के रूप में एक व्यक्ति कंपनी को एकल व्यक्ति के साथ एकीकृत किया जा सकता है, जिसके पास एकल व्यक्ति होगा, जिसमें निदेशक और शेयरधारक होंगे। कंपनी का।

निदेशक और शेयरधारक कंपनी में एक ही या अलग-अलग व्यक्ति हो सकते हैं।

जीएसटी पंजीकरण

जीएसटी पंजीकरण उपरोक्त सभी व्यावसायिक संरचनाओं के लिए समान है, दो प्रकार के हैं और जीएसटी पंजीकरण एक अनिवार्य जीएसटी पंजीकरण है और अन्य अनिवार्य पंजीकरण के तहत स्वैच्छिक पंजीकरण है यदि आपका टर्नओवर एक विशेष वर्ष के 20 रुपये से अधिक है सीमा पार करने के 30 दिनों के भीतर पंजीकरण प्राप्त करें और यदि आवश्यक हो तो आप जीएसटी पंजीकरण स्वैच्छिक भी प्राप्त कर सकते हैं।

FASTLEGAL आपको सभी प्रकार के व्यवसायों के लिए व्यवसाय पंजीकरण और पेशेवर परामर्श सेवाएँ प्रदान करता है यदि आपको किसी भी प्रकार की सहायता की आवश्यकता हो तो आप सीधे हमसे 9782280098 पर संपर्क कर सकते हैं या हमें mail@fastlegal.in पर ईमेल कर सकते हैं।

20

How to Apply for Legal Registration for Youtube Channel Advertisement Business

Posted on by Fastlegal Team

How to Apply for Legal Registration for Youtube Channel Advertisement Business

If you run YouTube channel and earning money through advertisements or any other form you are required to register your YouTube channel as a business, Earning money through advertisements is an advertisement business and you must register your business with any of the business structures available for registration in India,

In this post I will let you know about the legal registration procedure for YouTube channel in India:

Choosing the right business structure or Firm:

In India the business can be done through various types of business structures available for the registration of an YouTube channel you must know about the available business structures:

Proprietorship firm business:

Proprietorship form any single individual who is doing business can register and firm under his own name the proprietorship firm will not be in a separate entity from its owner. If you are a single person and run a YouTube channel earning some money through advertisements on YouTube then you can register a proprietorship firm.

Registration of proprietorship firm is not mandatory in India but for opening open a bank account bank will ask you for or some registration in the name of your Business, e.g. If the Name of Your Business is “MY STUDIO” than your Business Bank account should be in the Name of “MY STUDIO”

Registration of a new proprietorship firm as an advertisement business you can obtain Udyog Aadhar registration and submit your Udyog Aadhaar registration certificate along with your KYC document to your Bank in which you want to open a bank account in the name of your firm.

Now you start your business under your firm by accepting payments to Firm Bank Account, under the Proprietorship firm.

Now you are required to file your income tax return under the personal name as business income early basis and pay required taxes, if required to be paid , There is no separate PAN number required for proprietorship firm, the PAN number of proprietor will be the PAN number of a firm.

Also if you run a blog then also you are not required to obtain the separate registration for each and every kind of business and under the same business or firm you can receive your payment for the advertisements, or other invoices for services.

Partnership Firm :

If you are two or more person running in a single advertisement business , YouTube Channel or blog or any other type of advertisement business , you have to define

  • profit sharing ratio,
  • capital contribution and
  • work in your business for which you can do this

by mentioning the particulars in the partnership deed like what will be the profit sharing ratio how much capital contribution will be done by each partner and

how the bank account of the firm will be operated will the bank account of the firm will be operated by any of the partners of the firm or bank account will be operated by all of the partners jointly in the name of the firm

Registration and starting of a partnership firm following steps are required to be followed

  • Drafting of partnership Deed
  • Stamping of Partnership Deed
  • Signing of Partnership Deed
  • Applying for PAN no of Partnership Firm
  • Signing of Registration documents
  • Application of Registration of partnership firm with Registrar of Firm

Once all the formalities are completed now you are required to open a bank account in the name of the firm and start accepting the payment of invoices for advertisement fees or any other services which are included and the partnership deed.

Income of a partnership firm is a income of a firm and partners can take remuneration from the partnership firm, the remuneration received by the partner will be treated as a business income and the hand of partner

Limited Liability Partnership (LLP)

Limited liability partnership is the same as is the partnership with limited liability, all also LLP is a separate legal entity.

LLP is regulated by the Ministry of Corporate Affairs and the registration of LLP is done for Central registration centre crc in India, jurisdictions of the LLP vests with the register of Companies of the state in which the registered office of the LLP is situated

Procedure for registration of limited liability partnership (LLP) for Youtube Channel

  • Application for obtaining of Digital Signature
  • Drafting of LLP Agreement (Same as Partnership Deed)
  • Application for Registration with CRC
  • Signing and Stamping of LLP Agreement
  • Filing of LLP Agreement with ROC within 30 Days of Registration of LLP

Private Limited Company

Private Limited Company is the most popular structure for businesses and startups. Private Limited Company allows outside funding & Foreign Direct Investment easily. Private Limited Companies are required to hold Board Meetings,Register Secured Loans with the Ministry of Corporate Affairs,Hold Members Meeting for Important matters,Make complete disclosures about important matters in their Board Report. Due to all these regulatory disclosures and requirements imposed on Private Limited Company by Company Law they tend to be viewed with more credibility than a Limited Liability Partnership (LLP), One Person Company (OPC), or General Partnership.

Procedure for registration of Private limited company for Youtube Channel

  • Application for obtaining of digital signature
  • Signing of Incorporation Documents
  • Application for Incorporation of Company

These days the Government of India simplified the registration of private companies to much extent and now the applicants to the private limited company can now PAN, TAN, ESIC EPFO and bank account of the company as soon as they get the registration certificate of a company.

In private limited company two or more persons are required and the act has a directors and the shareholders of the company while the one person company as private limited company can also be integrated with the single person the single individual person will whole has a directorship and shareholder of the company.

Directors and shareholders can be the same or different persons in the company.

GST Registration

GST registration is the same for all of the above business structures, There are two types and the GST registration one is a compulsory GST registration and other is voluntary registration under compulsory registration if your turnover exceeds Rupees 20 lakin a particular year you have to obtain the registration within 30 days of crossing the limit and you can also obtain the GST registration voluntary if you required so.

Fastlegal provides business registration and professional Consulting Services to all type of businesses if you need any help you can directly contact us at 9782280098 or email us at mail@fastlegal.in

757

How to Apply for Udyog Mitra Registration in Rajasthan

Posted on by Fastlegal Team

In this article we will discuss about the main requirement for registration in Rajasthan Udyog Mitra, 

Udyog Mitra is the new concept that the Rajasthan government has come for setting up in MSME without approval under state Act’s . Udyog Mitra provides the new establishment or Enterprises the benefits for 3 years for any mandatory registrations required under the Rajasthan state acts for setting up of their Enterprises like shop and Establishment Act etc

 

The indicative list of approvals and inspections there under, for which the enterprise shall be exempted under the said Act after availing the Acknowledgement Certificate under Udyog Mitra, is following:

(i) Registration under the Rajasthan Shops and Commercial Establishments Rules, 1959
(ii) Building Plan Approval, Completion Certificate and Occupancy Certificate under Unified Building Byelaws- 2017 (Rajasthan Building Byelaws- 2017)
(iii) Building Plan Approvals under RIICO Disposal of Land Rules, 1979
(iv) Conversion of land (section 90 A) under The Rajasthan Urban Areas (Permission for use of Agricultural Land for Non – agricultural Purposes and Allotment) Rules – 2012
(v) Change in land use under The Rajasthan Urban Areas Change in Land Use Rules – 2010
(vi) Sub-division reconstitution and improvement of plots under The Rajasthan Urban Areas (Subdivision, Reconstitution and Improvement of Plots) Rules, 1975
(vii) Land Conversion under (Section 90A) of Land Revenue Act 1956
(viii) Layout plan approval under Rajasthan Township Policy 2010
(ix) Change in land use under Rajasthan Land Use Change Rules 2010
(x) Issuance of Trade license for Hotel, restaurants etc. under Rajasthan Municipality Act, 2009
(xi) Conversion of Land under Rajasthan Land Revenue (Conversion of Agricultural Land for Non-Agricultural Purposes) Rules, 2007
(xii) Transfer of interest in the land, as per section 27 under Rajasthan Gram Dan Act, 1971(Act No. 12 of 1971);

 

This is an indicative list and not the exhaustive list of approvals & inspections under Rajasthan Law which are covered under the Act. Besides these, the State Government or any authority under it is empowered to exempt enterprises from any approval or inspection or any provisions relating thereto under any Central Act as mentioned in section 7 of the Act by publishing in gazette notification

 

Udyog Mitra registration is very simple process and the applicant must have an Aadhaar number with mobile OTP enabled and he has to enter the details of the proposed your existing Enterprises that you want to start and can obtain their acknowledgement Certificate online.

Once the Acknowledgement certificate has been generated by the applicant now open a bank account in the name of the entity  and start the business operations.

The business is not require any special registration under Rajasthan state act and can be carried on for a period of 3 years from the commencement of their business

 

733

How to Make Application for Obtaining Status of Dormant Company

Posted on by Fastlegal Team

Meaning of Dormant Company

A Company which is formed and registered under Companies Act for a future project or to hold an asset or intellectual property and has no significance accounting transaction, such a company is an inactive company may make an application to application to Registrar of Companies for obtaining status of dormant Company.

Inactive Company – Means a Company which has not been carrying on any business or operation or has not made any significant accounting transition during the last 2 financial year or has not filed financial statements and annual return during the last two financial years.

Significance Accounting Transaction-   Means any Transition Other than :

  • Payment of Fee by a Company to Registrar
  • payment made by it to fulfill the requirements of Companies Act or other laws
  • Allotment of shares
  • payment for maintenance of its office and records

Application for Obtaining Status of Dormant Company :

#Obtaining Digital Signature Certificate (DSC) of any Director

# Pass Board Resolution for authorizing a Director to make application to ROC for obtaining status of dormant company

#Pass Special Resolution at EGM for authorization for obtaining status of dormant Company

#File MGT-14 to ROC for Special Resolution

#File MSC 1 for application to ROC for Obtaining the status of dormant Company

 

Mandatory Documents to be attached with form MSC 1: 

  • Copy of Resolution Authorizing application
  • Copy of Special Resolution
  • Auditors Certificate
  • Statement of Affairs duly certified by Auditor
  • Consent of Lender , if any loan is outstanding
  • Certificate Regarding No Dispute in the Management or Ownership
  • NOC from Regulators , if company is regulated by such authority

 

1

Procedure for making Contribution to Charitable Funds

Posted on by Fastlegal Team

Companies Contributing to Charitable and other funds may do so by following the rules laid down under the Companies.

The Board of Directors of a Company may Contribute to bona fide charitable and other funds up to 5% of its Average net profits for the 3 immediately preceding financial years.

If Contribution is more than 5% prior permission of the Company in General Meeting is required.

Procedure for making Contribution to Charitable Funds :

#Notice of Board Meeting –

Draft a Notice Convening a Board Meeting along with Necessary Resolutions

#Conducting Board Meeting –

Pass Resolution regarding making contribution to the charitable funds, if Contribution is in excess of 5% of average net profits , also make necessary procedure regarding holding EGM of the Company for approval of Members.

#Notice of EGM

Send Notice of EGM to members of the Company

 #Hold EGM and Pass Ordinary Resolution

 #File form MGT-14 to ROC under Section 117 of the Companies Act, 2013

 

 

 

 

1

Issue of Share at Discount

Posted on by Fastlegal Team

Section 53 of the Companies Act, 2013, prohibits a company to issue shares at discount except in the case of issue of sweat equity shares. Any shares issued by a Company at a discounted price shall be void.

Where a company contravenes the provisions of section 53, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees and every officer in default shall be punishable with imprisonment for a term of which may extend to six months or with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees, or with both.

 

797

Procedure For Incorporation Of Subsidiary Company Of An Existing Company

Posted on by Fastlegal Team

Procedure For Incorporation Of Subsidiary Company Of An Existing Company

As per provisions of Section 2(87) of the Companies Act, 2013, “Subsidiary Company” or “subsidiary”, in relation to any other company (that is to say the holding company), means a company in which the holding company –
(i) controls the composition of the Board of Directors; or

(ii) exercises or controls more than one-half of the total share capital either at its own or together with one or more of its subsidiary companies:

As per provisions of the Act, in order to make the proposed company, CD Ltd., a subsidiary of the existing
company, AB Ltd., AB Ltd. must control the composition of the Board of Directors of CD Ltd. or it must exercise or control more than half of the total Share Capital in CD Ltd.
Keeping the above provisions in view, CD Limited shall become a subsidiary of AB Ltd. by a legal fiction and no separate application for registration of the subsidiary is required.
Section 186(1) prohibits a company to make investment through more than two layers of investment companies.

 

Important Points :

  1. The New Company Should be formed as such that the existing company must subscribes more than half of share capital of the Company
  2. Incorporation Procedure will remain same as Normal Company.
0

New Procedure for online IEC ( Import Export Code ) application/modification

Posted on by Fastlegal Team
New Procedure for online IEC application/modification has been introduced vide Trade Notice No 23/2018-19 New Delhi, Dated the 8 th August,2018 . Kindly see the following:
(i) Mandatory Documents to be uploaded for new IEC
(a)   Bank Certificate / Pre-printed Cancelled Cheque – Required  *
(b)  Address Proof of the firm – Required  *
 Any of the Following Documents: Sale deed | Rent agreement | Lease Deed | Electricity bill | Telephone Land line bill | Mobile Postpaid bill | MOU | Partnership Deed
 Other acceptable documents(for Proprietorship only): Aadhar Card | Passport | Voter Id
 In case the address proof is not in the name of the applicant firm, a No Objection Certificate(NOC) by the firm premises owner in favour of the firm along with the address proof is to be submitted as a single PDF document
(ii) Digital Signature Certificate – Now Not Required
Copy of PAN Card – Now Not Required
Photograph – Now Not Required
650

How to Register LLP with New LLP Incorporation Procedure

Posted on by Fastlegal Team

MCA has recently introduced the new process for incorporation of LLP in India, this process was much awaited as company incorporation procedure with single e form and centralized processing with Central Registration Center (CRC)  was already in place. Now LLP incorporation will also be done through CRC. Once the LLP is Incorporated the LLP Jurisdiction will vest with respective Registrar of Companyies (ROC) office.

How the New Incorporation procedure will work:-

  • Name Approval Application in RUN-LLP (Reserve Unique Name – Limited Liability Partnership)-  RUN-LLP is a web based e form , through which name approval application can be filed to CRC, Maximum two Name can be applied for approval. Before applying the name of LLP applicant must ensure that same login id will be used for filing the LLP Incorporation form.
  •  Obtaining Digital Signature for Designated Partners of LLP: – Designated Partners are required to obtain DSC with Certifying Authority in India.
  • LLP Incorporation application in Form FiLLiP (Form for incorporation of
    Limited Liability Partnership) :- This LLP Incorporation form is for following services

    • a) Name reservation ( We can Directly Apply for Name Approval Application if we are sure to get the name, it is very much advisable to get the Name Approval first as the cost for Name Approval Application is Just Rs. 200/- , this will help us to file the Application confidently without worry of name approval.
      b) Allotment of Designated Partner Identification Number(DPIN/DIN).
      c) Incorporation of the LLP
  • Approval of LLP Incorporation form : Once the LLP Incorporation form get approved , LLP Incorporation Certificate will be issued by MCA and LLP is Registered.
  • Drafting, Signing and Filing of LLP Agreement:- LLP is required to File LLP Agreement, duly signed, Stamped and notarized within 30 days of registration of LLP. Filing of LLP Agreement is Mandatory and late filing of form will cost you Rs. 100 per day.
  • Application for PAN and TAN of LLP : PAN and TAN is  must for every LLP as LLP is required to file its Income Tax Return and TDS return and is also required to quote the PAN for various transitions as prescribed under Income Tax Act and Rules. Unlike Companies where SPICE form for incorporation has facility to get PAN and TAN along with Certificate of Incorporation, LLP Form FiLLiP (Form for ncorporation of Limited Liability Partnership) do not have such facility right now, so PAN and TAN application is required to be made separately as soon as LLP gets incorporated.

 

  Get Free Quote on LLP Registration

Place your request here

Call: +91-9782280098 , Email : Mail@fastlegal.in

 

0

Private Limited Company Annual ROC And Tax Filing for Financial Year 2017-18

Posted on by Fastlegal Team

Private Limited Company is required to make various legal and tax related filings as par Companies Act and Income Tax Act every year mandatory, even Private Limited Companies having zero turnover are required to file its Income Tax Return to Income Tax Department and Financial Statement and Annual Return to Registrar of Companies, Private Limited Company is also required to appoint Chartered Account within 30 days of its Incorporation  and there at First Annual General meeting of the company for a period of five years as Statutory Auditor to audit the Accounts of the company.

Every Private Limited Company is required to maintain books of accounts either in electronic form or physical and all the documents including vouchers, invoices  of all the financial transitions for the period of eight years.

Private Limited Companies are required to maintain various registers of its Members, Share Transfers, Directors, Charges, Debenture Holders etc

Process for Private Limited Company Annual ROC and Tax Filings for Financial year 2017-18

  1. Finalization of Accounts of the Company : Director of the Company are required to Finalize the Accounts as soon as  financial year get end for the purpose of audit of accounts.
  2. Audit of Accounts : Statutory Auditor will audit the Accounts and will issue audit report in  respect of financial Statements.
  3. Finalization of Directors Report – Directors of the company are required to prepare and approve the Directors report.
  4. Issue of notice for holding Annual General Meeting : Every Private Limited is required to hold its shareholders meeting for each year within 6 months form the end of Financial year, first annual general meeting of the company may be held within 9 months form the date date of end of financial year.
  5. Holding Annual General Meeting
  6. Filing of form ADT-1 for appointment of statutory auditors at first annual general meeting of the company for a period of 5 years, auditor can also be reappointment at next Annual General Meeting after end of 5th AGM. Form ADT-1 is required to filed within 15 days form the date of AGM
  7. Filing of Form AOC-4 – Form AOC-4 is required to be filed within 30 days form the date of Annual General Meeting of the Company. Financial statement including Directors Report is required to attached with Form AOC-4 and this form is required to be certified by Practicing Professional Company Secretary, Chartered Accountant or Cost Accountant. Non Filing of e Form will attract additional fee of Rs. 100 every day.
  8. Filing of form MGT-7-  Form MGT-7 is required to be filed within 60 days of Annual General Meeting of the Company, List of Shareholders and Directors information is basically given in Annual Return. Non- filing will attract additional Fee of Rs. 100 per day.
  9. Filing of income Tax Return : Last date for filing Income Tax return  is 30th September.

Directors KYC : Every Director of the Company is required to file e form DIR-3 KYC upto 30th April Every year, in year 2018 this form can be filled upto 30th August 2018 without any fee and Rs. 5000 is payable after due date.

 

Complete your Company Filings with Fastlegal , Please email us your requirements at mail@fastlegal.in  or Place your request.

Call us at 9782280098

 

806

Full List of Items Rates Revised by GST Council on 21st July 2018

Posted on by Fastlegal Team

Full List of Items Rates Revised by GST Council on 21st July 2018

1. Rates for 17 consumer goods including washing machines, refrigerators, TVs, video games, vacuum cleaners, trailers, juicer mixer, grinders, shavers and hair dryers, water coolers, water heaters, lithium-ion batteries and electric iron slashed from 28 percent to 18 percent.

2. GST rate of 18 percent will be applicable on TVs up to 68 cm (27 inch) in size

3. Small handicraft exempted under GST

4. Deities made of stone, marble and wood exempted under GST

5. Rakhis exempted under GST

6. Knitted caps or otherwise under Rs 1,000/Unit now at 5 percent

7. Ethanol for oil companies now under 5 percent slab

8. Footwear under Rs 1,000 now under 5 percent slab

9. Actual bill of hotel stay above Rs 7,500 will attract 28 percent GST. Actual hotel bill below Rs 7,500 will, however, attract only 18 percent GST

10. Fortified milk will be exempted from GST

11. Rates on paints, wall putty and varnish down to 18 percent from 28 percent

12. Perfumes, toilet spray now under 18 percent slab

13.  GST on handbags, jewellery box, wooden box for paintings, artware of glass, stone endeavour, ornamental framed mirrors, handmade lamps etc reduced to 12 percent

14.  Simpler return filing process approved. Quarterly returns for business turnover up to Rs 5 crore instead of monthly filings. However, tax payment will be monthly. Nearly 93 percent traders and small businesses will get benefited from this. Exemption limit for traders in Assam, Arunachal Pradesh, Himachal Pradesh, Himalaya, Sikkim, increased from Rs 10 lakh to Rs 20 lakh

15.  No decision on sugar cess, to be decided in next meeting

The GST Council will meet next on August 4 to discuss the problems faced by small traders and businesses and entrepreneurship. The meeting will be completely focussed on the MSME sector, Goyal said.

 

Source : Moneycontrol

704

Mobile Phone Repair and Mobile Phone Accessories Business Registration in India

Posted on by Fastlegal Team

India will have nearly 700 million smartphone users by the end of 2020. Further, this figure will grow exponentially as more brands and cheaper variants enter the market.
Consequently, the demand for outlets and persons who offer repairs of mobile phones is expected to increase manifold. You can also sell accessories and credit recharge.

Mobile Phone Repair and Mobile Phone Accessories Business Registration in India comes under a small business  and one should still go for Shop and Establishment Registration to do it in Legal way and also go for current bank Account in the name of firm.

If your turnover exceed Rs. 20 Lakh during any time in any year then you are required to Register your  Firm under GST.

If you are doing business under Partnership than you may register Partnership Firm , LLP or Private Limited Company.

 

 

0

Sectors in which 100% FDI is permitted under Automatic Route

Posted on by Fastlegal Team

Sectors in which 100% FDI is permitted under Automatic Route:

  • Agriculture & Animal Husbandry

    • a) Floriculture, Horticulture, and Cultivation of Vegetables & Mushrooms under controlled conditions;
      b) Development and Production of seeds and planting material;
      c) Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture, Apiculture; and
      d) Services related to agro and allied sectors

  • Plantation Sector

    • (i) Tea sector including tea plantations
      (ii) Coffee plantations
      (iii) Rubber plantations
      (iv) Cardamom plantations
      (v) Palm oil tree plantations
      (vi) Olive oil tree plantations
      Note: Besides the above, FDI is not allowed in any other plantation sector/activity

  • Mining and Petroleum & Natural Gas

    • Mining and Exploration of metal and non-metal ores including diamond, gold, silver and precious ores but excluding titanium bearing minerals and its ores; subject to the Mines and Minerals (Development & Regulation) Act, 1957.Coal & Lignite
      (1) Coal & Lignite mining for captive consumption by power projects, iron & steel and cement units and other eligible activities permitted under and subject to the provisions of 100% Automatic Coal Mines (Nationalization) Act, 1973.
      (2) Setting up coal processing plants like washeries subject to the condition that the company shall not do coal mining and shall not sell washed coal or sized coal from its coal processing plants in the open market and shall supply the washed or sized coal to those parties who are supplying raw coal to coal processing plants for washing or sizing.

Mining and mineral separation of titanium bearing minerals & ores, its value addition and integrated                          activities subject to sectoral regulations and the Mines and Minerals (Development and Regulation Act                        1957).

  • Petroleum & Natural Gas

    • Exploration activities of oil and natural gas fields, infrastructure related to marketing of petroleum products and natural gas, marketing of natural gas and petroleum products, petroleum product
      pipelines, natural gas/pipelines, LNG Regasification infrastructure, market study and formulation and Petroleum refining in the private sector, subject to the existing sectoral policy and regulatory
      framework in the oil marketing sector and the policy of the Government on private participation in exploration of oil and the discovered fields of national oil companies.

  • Manufacturing

    • Subject to the provisions of the FDI policy, foreign investment in ‘manufacturing’ sector is under automatic route. Further, a manufacturer is permitted to sell its products manufactured in India through wholesale and/or retail, including through e-commerce, without Government approval.
    • Notwithstanding the FDI policy provisions on trading sector, 100% FDI under Government approval route is allowed for retail trading, including through e-commerce, in respect of food products manufactured and/or produced in India.

  • Broadcasting

    • (1)Teleports(setting up of up-linking HUBs/Teleports);
      (2)Direct to Home (DTH);
      (3)Cable Networks (Multi System operators (MSOs) operating at National or State or District level and
      undertaking upgradation of networks towards digitalization and addressability);
      (4)Mobile TV;
      (5)Headend-in-the Sky Broadcasting Service(HITS)
    • Cable Networks(Other MSOs not undertaking upgradation of networks towards digitalization and addressability and Local Cable Operators (LCOs))Note:
      Infusion of fresh foreign investment, beyond 49% in a company not seeking license/permission
      from sectoral Ministry, resulting in change in the ownership pattern or transfer of stake by
      existing investor to new foreign investor, will require Government approval.

  • Broadcasting Content Services

    • Up-linking of Non-‘News & Current Affairs’ TV Channels/ Down-linking of TV Channels

  • Civil Aviation

    • FDI allowed under automatic route for both Greenfield and Brownfield projects for Airports.

  • Construction Development: Townships, Housing, Built-up Infrastructure

    • Construction-development projects (which would include development of townships, construction of
      residential/commercial premises, roads or bridges, hotels, resorts, hospitals, educational institutions,
      recreational facilities, city and regional level infrastructure, townships)

  • Industrial Parks

  • Cash and Carry Wholesale Trade/Wholesale Trading

  • E-Commerce Activities
    • 100% FDI is allowed under automatic route under Marketplace Model.
0

FDI in Limited Liability Partnership (LLP)

Posted on by Fastlegal Team

FDI in Limited Liability Partnership (LLP) is permitted in India subject to following conditions:

  1. FDI is permitted under Automatic Route in LLP operating in Sectors where 100% FDI is allowed
  2. Downstream Investment in other LLP or Company in Sectors where 100% FDI is permitted

Investment can be made by persons resident outside India ( other than Citizens of Pakisthan and Bangladesh) but not by FII, FPI and FVCI.

 

Sectors in which 100% FDI is permitted under Automatic Route:

  • Agriculture & Animal Husbandry

    • a) Floriculture, Horticulture, and Cultivation of Vegetables & Mushrooms under controlled conditions;
      b) Development and Production of seeds and planting material;
      c) Animal Husbandry (including breeding of dogs), Pisciculture, Aquaculture, Apiculture; and
      d) Services related to agro and allied sectors

  • Plantation Sector

    • (i) Tea sector including tea plantations
      (ii) Coffee plantations
      (iii) Rubber plantations
      (iv) Cardamom plantations
      (v) Palm oil tree plantations
      (vi) Olive oil tree plantations
      Note: Besides the above, FDI is not allowed in any other plantation sector/activity

  • Mining and Petroleum & Natural Gas

    • Mining and Exploration of metal and non-metal ores including diamond, gold, silver and precious ores but excluding titanium bearing minerals and its ores; subject to the Mines and Minerals (Development & Regulation) Act, 1957.

      Coal & Lignite
      (1) Coal & Lignite mining for captive consumption by power projects, iron & steel and cement units and other eligible activities permitted under and subject to the provisions of 100% Automatic Coal Mines (Nationalization) Act, 1973.
      (2) Setting up coal processing plants like washeries subject to the condition that the company shall not do coal mining and shall not sell washed coal or sized coal from its coal processing plants in the open market and shall supply the washed or sized coal to those parties who are supplying raw coal to coal processing plants for washing or sizing.

Mining and mineral separation of titanium bearing minerals & ores, its value addition and integrated                          activities subject to sectoral regulations and the Mines and Minerals (Development and Regulation Act                        1957).

  • Petroleum & Natural Gas

    • Exploration activities of oil and natural gas fields, infrastructure related to marketing of petroleum products and natural gas, marketing of natural gas and petroleum products, petroleum product
      pipelines, natural gas/pipelines, LNG Regasification infrastructure, market study and formulation and Petroleum refining in the private sector, subject to the existing sectoral policy and regulatory
      framework in the oil marketing sector and the policy of the Government on private participation in exploration of oil and the discovered fields of national oil companies.

  • Manufacturing

    • Subject to the provisions of the FDI policy, foreign investment in ‘manufacturing’ sector is under automatic route. Further, a manufacturer is permitted to sell its products manufactured in India through wholesale and/or retail, including through e-commerce, without Government approval.
    • Notwithstanding the FDI policy provisions on trading sector, 100% FDI under Government approval route is allowed for retail trading, including through e-commerce, in respect of food products manufactured and/or produced in India.

  • Broadcasting

    • (1)Teleports(setting up of up-linking HUBs/Teleports);
      (2)Direct to Home (DTH);
      (3)Cable Networks (Multi System operators (MSOs) operating at National or State or District level and
      undertaking upgradation of networks towards digitalization and addressability);
      (4)Mobile TV;
      (5)Headend-in-the Sky Broadcasting Service(HITS)
    • Cable Networks(Other MSOs not undertaking upgradation of networks towards digitalization and addressability and Local Cable Operators (LCOs))

      Note:
      Infusion of fresh foreign investment, beyond 49% in a company not seeking license/permission
      from sectoral Ministry, resulting in change in the ownership pattern or transfer of stake by
      existing investor to new foreign investor, will require Government approval.

  • Broadcasting Content Services

    • Up-linking of Non-‘News & Current Affairs’ TV Channels/ Down-linking of TV Channels

  • Civil Aviation

    • FDI allowed under automatic route for both Greenfield and Brownfield projects for Airports.

  • Construction Development: Townships, Housing, Built-up Infrastructure

    • Construction-development projects (which would include development of townships, construction of
      residential/commercial premises, roads or bridges, hotels, resorts, hospitals, educational institutions,
      recreational facilities, city and regional level infrastructure, townships)

  • Industrial Parks

  • Cash and Carry Wholesale Trade/Wholesale Trading

  • E-Commerce Activities
    • 100% FDI is allowed under automatic route under Marketplace Model.
0

Form DIR-3 KYC Mandatory Required to be Filed on or Before 30th April Year Every Year

Posted on by Fastlegal Team

As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through the eform DIR-3 KYC. Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August,2018.

eForm DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of The Companies (Appointment and Qualification of Directors) Rules, 2014 which is reproduced for your reference.

Rule 12A:
Every individual who has been allotted a Director Identification Number (DIN) as on 31st march of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year.

Provided that every individual who has already been allotted a Director Identification Number (DIN) as at
31st March, 2018, shall submit eform DIR-3 KYC on or before 31st August, 2018.”

Rule 11(2):
The Central Government or Regional Director (Northern Region), or any officer authorised by the Central Government or Regional Director (Northern Region) shall, deactivate the Director Identification Number (DIN), of an individual who does not intimate his particulars in e-form DIR-3-KYC within stipulated time in accordance with rule 12A.

Rule 11(3):
The de-activated DIN shall be re-activated only after e-form DIR-3-KYC is filed along with fee as prescribed under Companies (Registration Offices and Fees) Rules, 2014.

Documents and Information Required for Filing the E form:

  1. Copy of Aadhar Card
  2. Copy of Present Address Proof – Bank Statement/ Utility Bill in the name of Individual
  3. Copy of Passport – If Individual Director have Valid Passport
  4. Personal Mobile No
  5. Personal Email Id
  6. Digital Signature of Individual

Personal Mobile and Email OTP Verification Mandatory while filing the Form DIR-3KYC 

Professional Certification Mandatory for DIR-3KYC eForm.

 

Fastlegal Provides E Form DIR-3 KYC Filing Services – Please connect at mail@fastlegal.in or call at 9782280098

 

806

Reporting of Fraud by Auditor Under Companies Act, 2013

Posted on by Fastlegal Team

Reporting of Fraud and Other Matters by Auditor, Cost Auditor and Secretarial Auditor  

#1: Amount of Fraud is more than One Crore Rupees and Above :

If an auditor of a company, in the course of the performance of his duties as statutory auditor, has reason to believe that an offence of fraud, which involves or is expected to involve individually an amount of rupees one crore or above, is being or has been committed against the company by its officers or employees, the auditor shall report the matter to the Central Government.

  • Manner of Reporting of Fraud to Central Government: 

The auditor shall report the matter to the Central Government as under:-

(a) the auditor shall report the matter to the Board or the Audit Committee, as the case may be, immediately but not later than two days of his knowledge of the fraud, seeking their reply or observations within forty-five days;

(b) on receipt of such reply or observations, the auditor shall forward his report and the reply or observations of the Board or the Audit Committee along with his comments (on such reply or observations of the Board or the Audit Committee) to the Central Government within fifteen days from the date of receipt of such reply or observations;

(c) in case the auditor fails to get any reply or observations from the Board or the Audit Committee within the stipulated period of forty-five days, he shall forward his report to the Central Government along with a note containing the details of his report that was earlier forwarded to the Board or the Audit Committee for which he has not received any reply or observations;

  • Where Report of Fraud is required to be sent :

(d) the report shall be sent to the Secretary, Ministry of Corporate Affairs in a sealed cover by Registered Post with Acknowledgement Due or by Speed Post followed by an e-mail in confirmation of the same;

(e) the report shall be on the letter-head of the auditor containing postal address, e-mail address and contact telephone number or mobile number and be signed by the auditor with his seal and shall indicate his Membership Number; and

(f) The report shall be in the form of a statement as specified in Form ADT-4.

 

#2: Amount of Fraud is less than One Crore Rupees :

In case of a fraud involving lesser than the Rs.1 Crore, the auditor shall report the matter to Audit Committee constituted under section 177 of the Companies Act, 2013 or to the Board immediately but not later than two days of his knowledge of the fraud and he shall report the matter specifying the following:-

(a) Nature of Fraud with description;

(b) Approximate amount involved; and

(c) Parties involved.

 

Disclouser of Fraud in Board Report : 

The following details of each of the fraud reported to the Audit Committee or the Board under sub-rule (3) during the year shall be disclosed in the Board’s Report:-

(a) Nature of Fraud with description;

(b) Approximate Amount involved;

(c) Parties involved, if remedial action not taken; and

(d) Remedial actions taken.

The provision of this rule shall also apply, mutatis mutandis, to a Cost Auditor and a Secretarial Auditor during the performance of his duties under section 148and section 204 respectively.

 

1

How to get Money Lending Licence in Rajasthan

Posted on by Fastlegal Team

A person who does a money lending business in Rajasthan can obtain the license for Money Lending form the SDM Office of Tehsil where he resides. Money Lending Licence is issued once the applicant fulfills the conditions of Act and Rules prescribed in Rajasthan Money Lenders Act, 1963 and Rules made thereunder :

Money Lending Licence is essential for every person who does the finance business of lending money other than for the companies which are specially regulated by other regulators like RBI for NBFC Companies.

money lending licence

Meaning of Money Lender :

Money-lender’ means-

(i) an individual or

(ii) an undivided Hindu family, or

[(iii) a company (not being a banking company as defined in section 5 of the Banking Regulation Act, 1949), body or institution other than such of them as may, by notification in the Official Gazette, be exempted from the provisions of this Act by the State Government on being satisfied that it is necessary or expedient so to do in public interest, or]

(iv) an un-incorporated body of individuals, who or which,-

(a) carries on the business of money-lending in the State; or

[(b) supplies, as a trader or dealer, goods other than agricultural goods on credit on condition of payment of interest by the buyer at a rate higher than that prescribed in section 29 in case the payment of sale price is not made within the stipulated period; or]

[(c)] has his or its principal place of such business in the State;

Documents Required and Information required obtaining for Money Lending Licence Application :

  1. PAN card of Applicant
  2. Aadhar Card of Applicant
  3. Last Three (3) Years Income Tax Return along with computation of Income
  4. Resident Certificate of Applicant
  5. Character Certificate  of Applicant duly issued by Gazette Officer  in two Copies
  6. Last 1 Year Bank Statement
  7. Details of Previous business, if any

How to Apply for Money Lending Licence in Rajasthan

  • Arrange all necessary Documents required for money lending license
  • Place your request on our website
  • Email us required documents at mail@fastlegal.in
  • We will send you required documents for signing
  • Send us the required documents at our office address
  • We will submit your application with Department
  • Follow up from Department
  • Police Verification of Applicant
  • Once the department receives all the verification done in this respect
  • Issue of Money Lending Licence

Validaty of Money Lending Licence

The Licence issued is valid for period of 3 Years. Licence can be renewed before the expiry of Validity

Maximum Interest that can be charged on the basis of Money Lending license

As per money lending act the amount of Interest on loan cannot be in excess of principal amount.

Fastlegal provides Money Lending Licence Registration Services in Jaipur, Rajasthan, If you need any help Please Call at 9782280098 or email us at mail@fastlegal.in