Interest Under Section 234A, 234B, 234C: Computation & Waiver 📌 Quick Answer: The Income Tax Act levies penal interest under three sections — Section 234A (delay in filing return), Section 234B (default in payment of advance tax), and Section 234C (deferment of advance tax instalments). Interest is charged at 1% per month or part thereof […]
Category Archives: Company Law Compliance
Company Law
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 […]
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 […]
Cryptocurrency & Digital Asset Valuation: Methods, Tax & RBI/SEBI Framework Featured Answer: Cryptocurrency and digital asset valuation in India involves applying market, cost, and income approaches to virtual digital assets (VDAs) including cryptocurrencies, NFTs, and DeFi protocol tokens. The valuation must account for extreme volatility, liquidity constraints, forked coins, and regulatory uncertainty. Under Indian tax […]
TDS Default Notice: Section 201 Response Strategy, Penalties Under Section 234E & 271C Quick Answer A TDS default notice under Section 201(1) of the Income Tax Act, 1961 declares the deductor as an “assessee in default” for failing to deduct TDS or for deducting but not depositing it with the government. This triggers interest under […]
MOA & AOA Drafting: Objects Clause, Capital Clause & Articles of Association Featured Answer: The Memorandum of Association (MOA) defines a company’s identity, objects and authorised capital under Sections 4 and 5 of the Companies Act, 2013. The Articles of Association (AOA) govern internal management rules. Together, they form the constitutional documents filed with the […]
DSC for Company Registration: Class 2 vs Class 3, Process & Cost Featured Answer: A Digital Signature Certificate (DSC) is mandatory for company registration in India. Every proposed director must obtain a DSC before filing the SPICe+ incorporation form on the MCA portal. Since 1 January 2021, the MCA accepts only Class 3 DSCs with […]