Equity Linked Savings Scheme

Equity Linked Savings Scheme are equity funded type of mutual fund. Mutual funds can be largely categorised into three types on the basis of the asset classes they invest in. Equity and debt are the principal asset classes that mutual funds deposit their collected funds in. The following are the three main types of mutual funds present at the moment:

1. Equity funds
2. Debt funds
3. Hybrid funds …

Surrender of DIN via Form DIR-5

An entity, who is the Director or partner of a corporation or LLP registered in India, requires a DIN or Director Identification Number. When the company registration or LLP incorporation process is ongoing, DIN can only be acquired subsequent to the attainment of a digital signature for the proposed director or partner. Under certain circumstances, DIN is obtained in a wrongful manner by a …

Penalties for late filing of TDS returns

The following penalties are applicable when an entity has not deposited TDS by the accurate date.

1. When an individual fails to file the return by the deadline, then a late filing fee is applicable.
2. An Interest has to be paid when an individual fails to deposit the TDS amount on time.
3. There is a penalty for individuals when TDS is not filed within …

Can Private Limited Company take Loan from Public?

The Companies Act, 2013 as well as the set of laws laid by the Reserve Bank of India impedes the approval of deposit in case of a Private Limited Company. As per the Companies Act, 2019, only banking companies, non-banking monetary companies, housing finance company, as well as company enumerated by the Central Government, are permitted to acknowledge invitation, recognize or …

Foreign Company Compliance in India

In India, the registered foreign companies are required to uphold a variety of supplementary compliances as per the Companies Act, 2013.

What is Form FC-1?

In India, the registered foreign companies are required to file Form FC-1 within the duration of thirty days of the formation of its position of business in India. The application must be submitted along with an attested copy of the …