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The document defines key terms related to companies under the Indian Income Tax Act 1961. It discusses the definitions of an Indian company, foreign company, and domestic company. It also summarizes the criteria for a company to be considered a resident or non-resident in India. Finally, it outlines various types of companies that are considered "in which the public are substantially interested" according to the Act.
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Process to register private Company in India
This document provides information on types of companies that can be formed in India and the steps to incorporate a private limited company. The main types of companies are private, public, foreign, and government companies. A private company requires a minimum of 2 directors and paid-up capital of Rs. 1 Lac, while a public company requires a minimum of 3 directors and paid-up capital of Rs. 5 Lac. The steps to incorporate a private limited company include obtaining PAN, DIN, digital signature, deciding on name, capital and objects, filing forms like Form 1A, 1, 18 and 32 with the Registrar of Companies and obtaining certificates of incorporation and commencement of business.
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incorporation of companies
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Company form of entity is best preferred for establishing business in India. Here are Steps for incorporating a company in India under companies Act, 1956. There are other compliance requirements of Foreign Direct Investment and FEMA which needs to be fulfilled while incorporation of a subsidiary in India. We at Rayvat Accounting Specialize in providing incorporating a company in India.
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The document discusses different types of business entities in India including sole proprietorships, partnerships, and companies. It provides details on private limited and public limited companies, outlining key differences such as minimum shareholder requirements, transferability of shares, and regulations. The procedures for incorporating a company in India are also summarized, including pre-registration steps and required registration forms and documents. Restrictions on foreign investment through automatic and approval routes are briefly mentioned.
Presentation on formation of company (pakistan)
The document outlines the steps and requirements for registering a new company in Pakistan. It discusses the key stages in company formation: promotion, incorporation, subscription, and commencement. It provides details on the legal documents required like the memorandum of association, articles of association, and documents needed for registration with the registrar including capital structure, director information, and prospectus. Once minimum share subscription levels are met and director shares are paid, a certificate of commencement can be obtained to legally operate the business. The Securities and Exchange Commission of Pakistan oversees company registration through regional Company Registration Offices.
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The document discusses different types of companies under corporate law. It defines statutory companies as those formed under special statutes and governed by relevant Acts. Chartered companies are formed by royal charter granting special rights. Government companies have at least 51% capital held by the government. Registered companies include companies limited by shares, guarantee, or unlimited liability. Private limited companies restrict member and share transfer rights while public companies do not. Listed companies have shares traded on stock exchanges.
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Process to register private Company in India
This document provides information on types of companies that can be formed in India and the steps to incorporate a private limited company. The main types of companies are private, public, foreign, and government companies. A private company requires a minimum of 2 directors and paid-up capital of Rs. 1 Lac, while a public company requires a minimum of 3 directors and paid-up capital of Rs. 5 Lac. The steps to incorporate a private limited company include obtaining PAN, DIN, digital signature, deciding on name, capital and objects, filing forms like Form 1A, 1, 18 and 32 with the Registrar of Companies and obtaining certificates of incorporation and commencement of business.
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The document outlines the steps and requirements for registering a new company in Pakistan. It discusses the key stages in company formation: promotion, incorporation, subscription, and commencement. It provides details on the legal documents required like the memorandum of association, articles of association, and documents needed for registration with the registrar including capital structure, director information, and prospectus. Once minimum share subscription levels are met and director shares are paid, a certificate of commencement can be obtained to legally operate the business. The Securities and Exchange Commission of Pakistan oversees company registration through regional Company Registration Offices.
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Company registration services in chennai India for new company registration process and Company Incorporation in chennai with effective quality services."
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The document discusses different types of companies under corporate law. It defines statutory companies as those formed under special statutes and governed by relevant Acts. Chartered companies are formed by royal charter granting special rights. Government companies have at least 51% capital held by the government. Registered companies include companies limited by shares, guarantee, or unlimited liability. Private limited companies restrict member and share transfer rights while public companies do not. Listed companies have shares traded on stock exchanges.
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1. Ahmad Hassan Limited is a textile company located in Multan, Pakistan that manufactures and sells yarn and fabric. It has been operating since the late 20th century.
2. The company aims to sustain its reputation in domestic and international markets through producing quality yarn and fabric. It is a public limited company with a registered share capital of Rs. 200 million.
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This document provides an overview of business law and the provisions of the Indian Companies Act of 1956 and 2013. It discusses the objectives of the Companies Act, defines what constitutes a company, outlines the various types of companies based on incorporation, liability, control, ownership, and other factors. It also explains the process of forming a company, which involves promotion, registration, capital raising, and business commencement. The roles and duties of promoters in the formation process are defined. Key sections of the Companies Act regarding classification, formation, memorandum, articles of association, and capital are also summarized.
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The document discusses various types of companies under Indian law. It defines a company and outlines key principles like separate legal entity, perpetual succession. It discusses landmark cases that established these principles. It also describes different types of companies like private, public, government, holding, subsidiary, investment and finance companies. Key characteristics, provisions and differences between these company types are summarized.
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An individual Indian citizen can incorporate a one person company (OPC) to enjoy the benefits of limited liability. To incorporate an OPC, the individual must have a minimum capital of Rs. 1 lakh and appoint a nominee. The incorporation process involves applying for director identification numbers, a digital signature certificate, name availability, and filing memorandum of association, articles of association, and other documents with the registrar of companies. After receiving a certificate of incorporation, the OPC must file forms regarding its registered office location and commencement of business within 30 and 180 days respectively.
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The document outlines the 4 stages of forming a company: promotion, incorporation, subscription of capital, and commencement of business.
[1] Promotion involves conceiving a business opportunity and taking steps to legally form a company like conducting feasibility studies and drafting required documents.
[2] Incorporation requires submitting documents like the memorandum of association and articles of association, consent from directors, and paying registration fees.
[3] Subscription of capital involves activities like getting SEBI approval and issuing a prospectus to raise funds through share capital.
[4] Commencement of business requires declarations that shares have been allotted and directors have paid for their shares.
Registration of companies
The document provides information on registering different types of companies under the Companies Act in India. It discusses the requirements and procedures for registering public limited companies, private limited companies, Section 8 companies, companies registered under Part IX, and producer companies.
The key steps outlined are applying for name approval, drafting the memorandum of association and articles of association, e-filing required forms like INC-7, INC-22, and DIR-12, paying registration fees, and obtaining the certificate of incorporation. Specific requirements for different company types like minimum number of members, minimum capital, and approvals needed from authorities are also explained.
Introduction of company law (1)
Company legislation in India originated from English company law. The various Companies Acts passed in India have largely followed the English Acts with some modifications. Early forms of companies included merchant guilds from the 11th-13th centuries and commenda and societas partnerships. Regulated companies with royal charters granting trade monopolies emerged in the 14th century, such as the East India Company. India's first company law was passed in 1850 based on the English 1844 Act, with limited liability first recognized in 1857. Subsequent Acts in 1866, 1913, and 1956 further developed company law, largely mirroring equivalent English Acts. The Companies Act of 1956 and subsequent amendments have shaped modern Indian company law.
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The document discusses company registration in Pakistan. It outlines the process for registering a company in Pakistan according to the Companies Ordinance 1984. The key steps include: 1) Applying for company name availability, 2) Preparing required documents like Memorandum of Association, Articles of Association, forms, 3) Submitting documents to the registrar, 4) Receiving a certificate of incorporation, 5) Receiving a certificate of commencement of business if a public limited company. It also discusses types of companies that can be registered and relevant laws governing company registration in Pakistan. The case discusses promoter liability for pre-incorporation contracts.
Guarantee Limited Company
The document provides information about guarantee limited companies including:
1. Guarantee limited companies have members who guarantee a set amount if the company is wound up, rather than shareholders.
2. They must have a memorandum of association outlining their objectives and powers, and articles of association establishing rules for governance.
3. Membership in guarantee limited companies provides voting rights at annual general meetings and receipt of annual accounts. Becoming a member requires approval by the company's directors.
Formation of Company & Steps involved in it
The formation of a company involves several key stages and processes. A company is formed when a group comes together to exploit business opportunities by combining resources. The main stages are promotion, selection of a company name, incorporation by registering the memorandum of association and articles of association with the registrar of companies, raising capital, and obtaining the certificate of commencement to officially begin business operations. The memorandum of association outlines the fundamental rules and objectives of the company, while the articles of association contain internal regulations. A prospectus may also be issued to publicly offer shares or debentures for subscription.
Origin of company law
This document provides an overview of Company Law in India, including the origins and evolution of the Companies Act. It discusses how the first Companies Act was modeled on British law and was later amended after independence. The key highlights are:
- The Companies Act of 1956 was passed based on recommendations to amend the previous legislation. It came into force in April 1956 with 658 sections and 14 schedules.
- The Companies Act of 2013 replaced the 1956 act after 57 years. It has 470 sections and 7 schedules and aims to strengthen shareholder rights and regulation of companies.
- A company is defined as an association formed and registered under the Companies Act, with features like separate legal identity, limited liability, transferable shares,
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This document provides an overview of the different types of company incorporations under Indian law, including private limited companies, public limited companies, one person companies, limited liability partnerships, part IX companies, section 25 companies, and foreign companies. It describes the basic registration procedures and requirements for incorporation for each company type, such as minimum number of directors and capital levels. Corporate legal services can assist with navigating the incorporation process and ensuring all legal requirements are met.
Im 84-bc
This document discusses different types of companies according to their mode of incorporation, number of members, liability of members, and other characteristics. It defines statutory companies, registered companies, private companies, public companies, one person companies, companies limited by shares, companies limited by guarantee, unlimited companies, not-for-profit companies, foreign companies, government companies, holding companies, subsidiary companies, associate companies, small companies, dormant companies, and producer companies. It provides details on the key features and requirements for each type.
A Complete guide types of company registration in India | Legal Salaah
A company is a legal organization created by laws to promote various purposes such as business. There are five main types of companies: proprietorship, partnership, private limited, LLP, and OPC. Proprietorship is owned by one person while partnership allows multiple partners. Private limited, LLP, and OPC require more formal registration with the Ministry of Corporate Affairs and have separate legal identities from their owners/members. When registering a company, the name must be unique for private limited, LLP, and OPC and suffixes like "Pvt Ltd" are required. All company types provide limited liability for owners/members depending on their investment level.
Formation and incorporation of company
This document discusses the process of forming and registering a company in Pakistan. It explains that upon registration, a company becomes a separate legal entity with its own rights and liabilities. There are three types of companies that can be registered: limited by shares, limited by guarantee, or unlimited liability.
The registration process involves selecting a name, preparing documents like the Memorandum of Association, Articles of Association, and Form 1, paying registration fees, submitting documents to the Securities and Exchange Commission of Pakistan (SECP), and receiving a Certificate of Incorporation. Once incorporated, the company gains benefits like the ability to own property, sue and be sued, and have perpetual succession separate from its members.
incorporation of private limited company
The document discusses the process of forming a private limited company under Pakistan law. It goes through the four main stages: promotion, incorporation, subscription, and commencement. Key documents required include the memorandum of association, articles of association, forms 1, 21 and 29, and documents establishing minimum capital, shares, and directors. The roles of the Securities and Exchange Commission of Pakistan and registrar are outlined in reviewing and approving the application and documents.
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The document discusses the key provisions around One Person Companies (OPCs) as per the Companies Act, 2013 and Companies (Incorporation) Rules, 2014 in India. Some key points:
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- The member must be an Indian citizen residing in India. OPCs can be limited by shares, guarantee, or unlimited.
- Provisions around incorporation, memorandum of association, conversion if thresholds are exceeded, and other compliance requirements are explained.
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This Article covers the topics related to Small Company , Associate Company, Subsidiary Company and Holding Company etc.
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The company registration steps are required to be taken for incorporation of a company other than a producer company.
One Person Company
This document provides information about One Person Companies (OPCs) as established under Section 2(62) of the Indian Companies Act of 2013. It defines an OPC as a company with one shareholder and one director who can be the same person. The key points covered include:
- An OPC allows sole proprietors to take advantage of limited liability as a company.
- Only Indian citizens/residents can open an OPC. An individual cannot own two OPCs.
- OPCs have certain exemptions from compliance requirements like holding annual meetings.
- OPCs are similar to private limited companies but have more restrictions on foreign ownership and require mandatory conversion once certain thresholds are met.
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1. The document defines various types of companies under Indian law such as Indian company, domestic company, foreign company, and company in which the public are substantially interested.
2. It explains the residential status of companies in India, noting that an Indian company is always resident in India regardless of control or location, while a foreign company's residence is determined by its place of effective management.
3. Tax planning tips are provided for the Minimum Alternate Tax (MAT) under section 115JB, such as recognizing revenue conservatively, using written down value depreciation, timing asset sales, writing off goodwill, and amortizing certain expenditures.
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Income tax is a direct tax that is levied on the total income of an individual in the previous year. It is governed by the Income Tax Act of 1961 which applies to all of India. The Act defines key terms like assessee, assessment year, and previous year. An assessee refers to any person who is liable to pay tax under the Act. The previous year is the financial year prior to the assessment year in which the income is taxed. Tax planning helps individuals minimize their tax liability and reduce litigation by utilizing available exemptions, deductions and benefits.
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AZGARD NINE LIMITED, EXIDE PAKISTAN LIMITED, Ahmad Hassan (Private) l...
1. Ahmad Hassan Limited is a textile company located in Multan, Pakistan that manufactures and sells yarn and fabric. It has been operating since the late 20th century.
2. The company aims to sustain its reputation in domestic and international markets through producing quality yarn and fabric. It is a public limited company with a registered share capital of Rs. 200 million.
3. The financial statements for the year ended June 30, 2016 were prepared in accordance with approved accounting standards and give a true and fair view of the company's financial position and performance.
1.introduction , features & formation of copanies (1)
This document provides an overview of business law and the provisions of the Indian Companies Act of 1956 and 2013. It discusses the objectives of the Companies Act, defines what constitutes a company, outlines the various types of companies based on incorporation, liability, control, ownership, and other factors. It also explains the process of forming a company, which involves promotion, registration, capital raising, and business commencement. The roles and duties of promoters in the formation process are defined. Key sections of the Companies Act regarding classification, formation, memorandum, articles of association, and capital are also summarized.
Company Law In India
The document discusses various types of companies under Indian law. It defines a company and outlines key principles like separate legal entity, perpetual succession. It discusses landmark cases that established these principles. It also describes different types of companies like private, public, government, holding, subsidiary, investment and finance companies. Key characteristics, provisions and differences between these company types are summarized.
Incorporation of One Person Company under Companies Act 2013
An individual Indian citizen can incorporate a one person company (OPC) to enjoy the benefits of limited liability. To incorporate an OPC, the individual must have a minimum capital of Rs. 1 lakh and appoint a nominee. The incorporation process involves applying for director identification numbers, a digital signature certificate, name availability, and filing memorandum of association, articles of association, and other documents with the registrar of companies. After receiving a certificate of incorporation, the OPC must file forms regarding its registered office location and commencement of business within 30 and 180 days respectively.
Formation of a company
The document outlines the 4 stages of forming a company: promotion, incorporation, subscription of capital, and commencement of business.
[1] Promotion involves conceiving a business opportunity and taking steps to legally form a company like conducting feasibility studies and drafting required documents.
[2] Incorporation requires submitting documents like the memorandum of association and articles of association, consent from directors, and paying registration fees.
[3] Subscription of capital involves activities like getting SEBI approval and issuing a prospectus to raise funds through share capital.
[4] Commencement of business requires declarations that shares have been allotted and directors have paid for their shares.
Registration of companies
The document provides information on registering different types of companies under the Companies Act in India. It discusses the requirements and procedures for registering public limited companies, private limited companies, Section 8 companies, companies registered under Part IX, and producer companies.
The key steps outlined are applying for name approval, drafting the memorandum of association and articles of association, e-filing required forms like INC-7, INC-22, and DIR-12, paying registration fees, and obtaining the certificate of incorporation. Specific requirements for different company types like minimum number of members, minimum capital, and approvals needed from authorities are also explained.
Introduction of company law (1)
Company legislation in India originated from English company law. The various Companies Acts passed in India have largely followed the English Acts with some modifications. Early forms of companies included merchant guilds from the 11th-13th centuries and commenda and societas partnerships. Regulated companies with royal charters granting trade monopolies emerged in the 14th century, such as the East India Company. India's first company law was passed in 1850 based on the English 1844 Act, with limited liability first recognized in 1857. Subsequent Acts in 1866, 1913, and 1956 further developed company law, largely mirroring equivalent English Acts. The Companies Act of 1956 and subsequent amendments have shaped modern Indian company law.
Formation and incorporation of companies in pakistan
The document discusses company registration in Pakistan. It outlines the process for registering a company in Pakistan according to the Companies Ordinance 1984. The key steps include: 1) Applying for company name availability, 2) Preparing required documents like Memorandum of Association, Articles of Association, forms, 3) Submitting documents to the registrar, 4) Receiving a certificate of incorporation, 5) Receiving a certificate of commencement of business if a public limited company. It also discusses types of companies that can be registered and relevant laws governing company registration in Pakistan. The case discusses promoter liability for pre-incorporation contracts.
Guarantee Limited Company
The document provides information about guarantee limited companies including:
1. Guarantee limited companies have members who guarantee a set amount if the company is wound up, rather than shareholders.
2. They must have a memorandum of association outlining their objectives and powers, and articles of association establishing rules for governance.
3. Membership in guarantee limited companies provides voting rights at annual general meetings and receipt of annual accounts. Becoming a member requires approval by the company's directors.
Formation of Company & Steps involved in it
The formation of a company involves several key stages and processes. A company is formed when a group comes together to exploit business opportunities by combining resources. The main stages are promotion, selection of a company name, incorporation by registering the memorandum of association and articles of association with the registrar of companies, raising capital, and obtaining the certificate of commencement to officially begin business operations. The memorandum of association outlines the fundamental rules and objectives of the company, while the articles of association contain internal regulations. A prospectus may also be issued to publicly offer shares or debentures for subscription.
Origin of company law
This document provides an overview of Company Law in India, including the origins and evolution of the Companies Act. It discusses how the first Companies Act was modeled on British law and was later amended after independence. The key highlights are:
- The Companies Act of 1956 was passed based on recommendations to amend the previous legislation. It came into force in April 1956 with 658 sections and 14 schedules.
- The Companies Act of 2013 replaced the 1956 act after 57 years. It has 470 sections and 7 schedules and aims to strengthen shareholder rights and regulation of companies.
- A company is defined as an association formed and registered under the Companies Act, with features like separate legal identity, limited liability, transferable shares,
incorporation of company
This document provides an overview of the different types of company incorporations under Indian law, including private limited companies, public limited companies, one person companies, limited liability partnerships, part IX companies, section 25 companies, and foreign companies. It describes the basic registration procedures and requirements for incorporation for each company type, such as minimum number of directors and capital levels. Corporate legal services can assist with navigating the incorporation process and ensuring all legal requirements are met.
Im 84-bc
This document discusses different types of companies according to their mode of incorporation, number of members, liability of members, and other characteristics. It defines statutory companies, registered companies, private companies, public companies, one person companies, companies limited by shares, companies limited by guarantee, unlimited companies, not-for-profit companies, foreign companies, government companies, holding companies, subsidiary companies, associate companies, small companies, dormant companies, and producer companies. It provides details on the key features and requirements for each type.
A Complete guide types of company registration in India | Legal Salaah
A company is a legal organization created by laws to promote various purposes such as business. There are five main types of companies: proprietorship, partnership, private limited, LLP, and OPC. Proprietorship is owned by one person while partnership allows multiple partners. Private limited, LLP, and OPC require more formal registration with the Ministry of Corporate Affairs and have separate legal identities from their owners/members. When registering a company, the name must be unique for private limited, LLP, and OPC and suffixes like "Pvt Ltd" are required. All company types provide limited liability for owners/members depending on their investment level.
Formation and incorporation of company
This document discusses the process of forming and registering a company in Pakistan. It explains that upon registration, a company becomes a separate legal entity with its own rights and liabilities. There are three types of companies that can be registered: limited by shares, limited by guarantee, or unlimited liability.
The registration process involves selecting a name, preparing documents like the Memorandum of Association, Articles of Association, and Form 1, paying registration fees, submitting documents to the Securities and Exchange Commission of Pakistan (SECP), and receiving a Certificate of Incorporation. Once incorporated, the company gains benefits like the ability to own property, sue and be sued, and have perpetual succession separate from its members.
incorporation of private limited company
The document discusses the process of forming a private limited company under Pakistan law. It goes through the four main stages: promotion, incorporation, subscription, and commencement. Key documents required include the memorandum of association, articles of association, forms 1, 21 and 29, and documents establishing minimum capital, shares, and directors. The roles of the Securities and Exchange Commission of Pakistan and registrar are outlined in reviewing and approving the application and documents.
One person company
The document discusses the key provisions around One Person Companies (OPCs) as per the Companies Act, 2013 and Companies (Incorporation) Rules, 2014 in India. Some key points:
- An OPC is a company with only one person as a member and a natural person as a nominee in the event of the member's death.
- The member must be an Indian citizen residing in India. OPCs can be limited by shares, guarantee, or unlimited.
- Provisions around incorporation, memorandum of association, conversion if thresholds are exceeded, and other compliance requirements are explained.
Types of Companies
This Article covers the topics related to Small Company , Associate Company, Subsidiary Company and Holding Company etc.
Company registration steps
The company registration steps are required to be taken for incorporation of a company other than a producer company.
One Person Company
This document provides information about One Person Companies (OPCs) as established under Section 2(62) of the Indian Companies Act of 2013. It defines an OPC as a company with one shareholder and one director who can be the same person. The key points covered include:
- An OPC allows sole proprietors to take advantage of limited liability as a company.
- Only Indian citizens/residents can open an OPC. An individual cannot own two OPCs.
- OPCs have certain exemptions from compliance requirements like holding annual meetings.
- OPCs are similar to private limited companies but have more restrictions on foreign ownership and require mandatory conversion once certain thresholds are met.
- OPCs
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A Complete guide types of company registration in India | Legal Salaah
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Subsidiary company
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Assessement of companies
This document defines key terms related to companies under the Income Tax Act such as company, Indian company, company in which public are substantially interested, domestic company, foreign company, industrial company, and investment company.
It also summarizes provisions related to Minimum Alternative Tax (MAT) under section 115JB, which specifies that the tax payable for any assessment year cannot be less than 18.5% of the company's book profit. It provides details on how book profit is computed for MAT purposes.
Finally, it outlines rules around carrying forward and set off of losses for closely held companies under section 79 when there is a change in shareholding.
Indian company law- AN INTRODUCTION ; CALCUTTA UNIVERSITY CBCS SEMESTER 4
INDIAN COMPANIES ACT A BASIC INTRODUCTION; TYPES OF COMPANIES AND THEIR BRIEF DESCRIPTION AND THEIR MAIN CHARACTERISTICS; STRUCTURAL CHANGES IN THE COMPANIES ACT
Companies act ,( 2013 new concepts_13.09.2013 (final)
companies act 2013, new concepts like secretarial audit, auditing standard, secretarial standard, One person company, associate comapny, consolidation of accounts, control, class action suits, dormant company etc
Section 25 companies
Section 25 companies under the Indian Companies Act 1956 are formed for the sole purpose of promoting commerce, art, science, religion, or charity. They must apply their profits only to promoting their objectives and cannot pay dividends. They require a license from the central government. Section 25 companies offer benefits like limited liability without disclosing member details, exemption from statutory requirements like minimum capital and annual return disclosures. However, they must still comply with provisions of the Companies Act unless expressly exempted and cannot alter their objectives without government approval.
Company’s act 2013
The document defines a company as an association of persons who contribute money or assets to a common stock to carry out a business. A company is an artificial legal person, separate from its members, with perpetual succession and common seal. It can sue and be sued in its own name.
The document outlines the key documents required for company registration and lists the main types of companies based on incorporation, liability, and control. Private and public companies are the main types based on incorporation, while companies limited by shares and guarantee differ based on members' liability. Small companies, government companies, and holding/subsidiary companies vary according to control characteristics.
Indian companies act
There are several types of companies under Indian law based on incorporation, liability, control, and other factors. The main types include private and public companies, limited by shares or guarantee, chartered companies established by royal charter, statutory companies created by legislation, and foreign companies incorporated outside of India. A company is a separate legal entity from its owners and managers that can be established for business or nonprofit purposes.
Company act abhinandan
The document discusses the key aspects of forming a company under Indian law, including defining what constitutes an Indian and foreign company, outlining the process of promotion, registration with the registrar of companies, and floatation through issuing a prospectus or statement in lieu of prospectus to raise capital and obtain a certificate to commence business.
Foreign company Registration In India
Foreign company Registration In India, Foreign Nationals looking for company registration In India, FDI FEMA Compliance for foreign Company In India, Foreign Company Registration in India. Guide on Company registration in India. FORM of FEMA , RBI Permission for company registration In India.
Registration of MicroFinance Institutions in india
The Indian microfinance sector witnessed rapid growth over last decade. A microfinance institution acquires permission to lend through registration. Each legal structure has different formation requirements & privileges. Microfinance institutions in India are registered as one of the entities: for profit & not- for profit
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Company - Definition and explain the types of company as per income tax act 1...
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- 1. ARUNKUMAR A ASSISTANT PROFESSOR OF COMMERCE KSMDB COLLEGE SASTHAMCOTTAH
- 2. ASSESSMENT OF COMPANIES COMPANY Section 2 (17) Indian company Foreign company Institution, association or body assessed under income tax act 1961 Institution association or body declared by CBDT to be a company
- 3. INDIAN COMPANY Section 2(26) Company formed and registered under companies act 2013 Includes: Company formed and registered under law of India (excluding Jammu & Kashmir and specified places) Corporation established under central state or provincial act
- 4. INDIAN COMPANY Section 2(26) Institution, association or body declared by CBDT to be a company. In Jammu &Kashmir and other specified places- formed and registered under law at that time in that state Note: Specified places: Dadra &Nagar Haveli, Goa, Daman Diu, Pondicherry.
- 5. DOMESTIC COMPANY Section 2(22 A) Includes: (i) all Indian companies (ii) a foreign company which had made prescribed arrangements for declaration and payment of dividends(out of taxable income in India) within India
- 6. FOREIGN COMPANY NON-DOMESTIC COMPANY Section 2(23A) Company which is neither an Indian company Not made prescribed arrangements for the declaration and payment of dividend within India
- 7. RESIDENTIAL STATUS 2 STATUS: 1. RESIDENT 2. NON RESIDENT
- 8. RESIDENTIAL STATUS RESIDENT It is an Indian company Its POEM (Place Of Effective Management) in that year is in India. NON RESIDENT A Company not satisfying the above conditions. Foreign company with turnover not more than 50 crores.
- 9. COMPANY IN WHICH PUBLIC ARE SUBSTANTIALLY INTERESTED GOVERNMENT COMPANY: Govt owned/RBI owned GOVERNMENT PARTICIPATING COMPANY: not less than 40% of shares held by Govt/RBI COMPANIES FOR CHARITABLE PURPOSE: Registerd under section 25 of companies act 1956 or section 8 of companies act 2013.Formed for charity, promoting art, religion etc and not for profit. No dividend to members.
- 10. COMPANY IN WHICH PUBLIC ARE SUBSTANTIALLY INTERESTED COMPANY WITHOUT SHARE CAPITAL: declared by the board MUTUAL BENEFIT FINANCE COMPANY: business of acceptance of deposits from members. Declared by Central Govt to be a mutual benefit society. CO-OPERATIVE SOCIETY PARTICIPATING COMPANY: Not less than 50%voting powers held by one or more co operative societies.
- 11. COMPANY IN WHICH PUBLIC ARE SUBSTANTIALLY INTERESTED COMPANY LISTED IN STOCK EXCHANGE: Listed in recognized stock exchange ANY OTHER PUBLIC COMPANY: not less than 50%(40%- industrial company) of voting rights held in previous year by Govt Statutory corporation Company having substantial interest Wholly owned subsidiary company(100% shares held by parent company)