LAW DECODED

Though both private limited and public limited are registered as a company under the Companies Act, 2013, there are some subtle differences which distinguish one from another. You can notice the difference on the basis of followings points:

TDS means Tax deducted at Source. It is the amount withheld from payment of various kinds such as salary, contract payment, commission, etc. This withheld amount can be adjusted against your tax due.

SPICe+ FORM provides the following services viz. 1. Incorporation 2. DIN allotment 3.Mandatory issue of PAN 4. Mandatory issue of TAN 5. Mandatory issue of EPFO registration 6. Mandatory issue of ESIC registration 7. Mandatory issue of Profession Tax registration(Maharashtra) 8. Mandatory Opening of Bank Account for the Company and  9. Allotment of GSTIN (if so applied for).

Section 464 of Companies Act, 2013 defines  that no association or partnership consisting of more than 50 persons  [fixed vide rule 10 of Misc Rules 2017] shall be formed to carry on any business for gains unless it is registered under the companies Act 2013.

Few Important points regarding stamp duty on share certificate: 1. Stamp duty is payable on issue price not on the value of the security. 2. In a case of a large number of shares, stamp duty can be payable in a lump sum and this fact should be mentioned on share certificate. 3.  STAMP DUTY ON SHARE IS STATE SUBJECT BUT STAMP DUTY ON DEBENTURE IS UNION SUBJECT . 4. The company should pay the stamp duty according to the state in which the registered office of the company is situated, not in the state where Board Meeting is held to consider an issue of shares. 5. One issue is whether the stamp duty is  payable on duplicate/split share certificate  or not. Section3 of the Indian Stamp Act states that every instrument mentioned in the schedule of the Indian stamp act which, not having been previously executed by any person is executed in India; shall be chargeable with stamp duty of the amount indicated in  schedule I . 6. Stamp duty is payable on a face value of shares

Yes Bank failure is not something which is quite normal. Failure of a bank has serious repercussions on the economy as a whole.

A large number of LLPs have defaulted in filing Form-3 viz. LLP Agreement and changes therein and statutory return viz. Form-8 Statement of Accounts & Solvency (Annual or Interim) and Form-11 Annual Return of LLP.