Registered Office Change: Within City, State & Interstate — ROC Filing 📌 Quick Answer: A company may change its registered office within the same city (by Board resolution and INC-22 filing), within the same state but to another ROC jurisdiction (by special resolution and INC-23 filing requiring Regional Director approval), or from one state to […]
Category Archives: Business Model
Business Model
MOA Amendment: Objects, Name, Capital & Registered Office Changes Under Companies Act 2013 Featured Answer: The Memorandum of Association (MOA) can be altered under Sections 13 and 14 of the Companies Act, 2013, by passing a special resolution (or ordinary resolution for specific clauses). The procedure varies by clause — name changes require RoC approval […]
Statutory Registers: Which Are Mandatory & How to Maintain for a Private Company Featured Answer: Every private company incorporated under the Companies Act, 2013 must maintain at least six statutory registers — Register of Members (MGT-1), Register of Directors & KMP (MBP-4), Register of Charges, Register of Significant Beneficial Owners (BEN-1/BEN-2), Register of Loans & […]
Charge Registration: CHG-1 Filing, Modification & Satisfaction Under Companies Act 2013 When a company borrows money and pledges its assets as security, a charge is created. The Companies Act 2013 mandates that every such charge must be registered with the Registrar of Companies (ROC) to protect the interests of lenders and ensure transparency. Failure to […]
CSR Under Section 135: Applicability, Spending & Reporting Featured Answer: Corporate Social Responsibility (CSR) under Section 135 of the Companies Act, 2013 mandates that every company meeting prescribed thresholds—net worth of ₹500 crore or more, turnover of ₹1,000 crore or more, or net profit of ₹5 crore or more during the immediately preceding financial year—must […]
AI Model Auditing: Risk Assessment, Bias Testing & Compliance Framework Featured Answer: AI model auditing is a structured, independent examination of artificial intelligence and machine learning systems to evaluate data quality, algorithmic fairness, model risk, explainability, and regulatory compliance. In India, AI model audits draw from NITI Aayog’s Responsible AI principles, RBI guidelines on AI/ML […]
Section 148/148A Reassessment: Defence Strategy & Response Guide Quick Answer A Section 148 reassessment notice means the Income Tax Department believes your income has escaped assessment for a past year. Since 1 April 2021, every Section 148 notice must be preceded by a Section 148A inquiry — a mandatory procedural safeguard where you get a […]
Section 271(1)(c) Penalty Appeal: Defence Strategy & Procedure Quick Answer Section 271(1)(c) of the Income Tax Act imposes a penalty of 100% to 300% of tax sought to be evaded for concealment of income or furnishing inaccurate particulars. For AY 2017-18 onwards, the equivalent provision is Section 270A (penalty at 50% for under-reporting, 200% for […]
GST for Foreign Companies: Registration, OIDAR & Compliance 📌 Quick Answer: Do Foreign Companies Need GST Registration in India? Yes — foreign companies supplying goods or services in India must register under GST as a Non-Resident Taxable Person (NRTP) under Section 24(v) of the CGST Act or through the Simplified Registration Scheme for OIDAR (Online […]
GST Composition Scheme: Eligibility, Rate & Limitations 📌 Quick Answer: What Is the GST Composition Scheme? The GST Composition Scheme under Section 10 of the CGST Act is a simplified tax payment and compliance mechanism for small taxpayers with aggregate turnover up to ₹1.5 crore (₹75 lakh for special category States). Composition taxpayers pay tax […]