CS Tanuj Saxena

is a Qualified Company Secretary from Lucknow having a rich and Core expertise in Secretarial compliances of Companies, Nclt matters and Corporate Litigation matters.

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US Securities and Exchange Commission (SEC) Annual Report

What is a 10K report? A 10K report also known as Form 10K which is a document that US public companies must submit to the Securities Exchange Commission annually. It is a summary of an organization’s financial performance that keeps the company’s investors or prospective investors informed about the company’s financial stature and business activities. What kind of companies files …

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Auditing Standard on Secretarial Audit- CSAS-1

Scope This Auditing Standard is applicable to Auditor undertaking any audit engagement under the Companies Act, 2013 or SEBI Act, 1992 or any other law for the time being in force. The Standard deals with Auditor’s roles and responsibilities in agreeing to the terms of audit engagement and entering into an understanding/agreement with the Management …

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CSAS-4 Auditing Standard on Secretarial Audit

It deals with responsibilities of the auditor while carrying out Secretarial Audit of a Company. The Standard is in addition to other Auditing Standards, as may be applicable with regard to Secretarial Audit. Contents:- Scope Effective Date Objective Definitions Auditor Audit Procedure Board process Systems and process Trigger test Requirements 1. Identification of applicable laws …

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Role of Virtual CFO in this Dynamic Corporate World

  What is a Virtual CFO? A business that does not have an in-house finance department can utilize alternatives such as outsourcing the finance function to another firm. Apart from this, the business can also utilize virtual CFO services. Virtual CFO services can be offered either remotely or through an external consultant.  Due to digitization, …

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FAQ ON FAST TRACK MERGER AS PER COMPANIES ACT 2013

FAQs on Fast Track Merger U/s 233 of Companies Act, 2013 Q 1. What is the Wholly Owned Subsidiary Company? Ans. It means a subsidiary company whose 100% shares are held by its holding company. The Transferor company needs to be an wholly owned subsidiary of the holding company as on appointed date of the scheme. …

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Tax Audit under Section 44AB

STATUTORY AUDITOR APPOINTMENT IN A NIDHI COMPANY

As per the provisions of the section 406(1) of the Companies Act, 2013 ‘Nidhi Company’ means a ‘company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit’.  After being incorporated as a …

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IMPORT EXPORT CODE REGISTRATION PROCEDURE

Following are all the documents for complete application Procedure of IEC Registration. There are 12 steps associated with the IEC code application procedure. Steps for IEC Registration Process:- Step 1: Go to the DGFT Website:- First step go to http://www.dgft.gov.in You will show welcomed home page by a bright and informational page. There you will see the …

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ITS ALL ABOUT STAR EXPORT HOUSES (CHECKLIST AND REGISTRATION PROCEDURE)

The main objective of foreign trade policies is to make the import-export process simple and attractive for importers, exporters, and traders. There are various export promotion schemes, and Status Holder Certificate is one of them. The Objective of the Star Export House Certificate or Status Holder Certificate is to boost export performance. As per the …

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C-CORP INCORPORATION AND ITS CHECKLIST PROCEDURE IN UNITED STATES OF AMERICA

  CHECKLIST FOR THE INCORPORATION OF C-CORP IN USA:- 1-Why US C-CORP? United States Corporation (US C CORP) Has Got 1st Priority Around The World. Any person residing outside the United States and willing to make a company in the United States can make it any form of Sole Proprietorship, Partnership, Corporation and Limited Liability …

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Small Finance Bank License- Have a Look

There are particularly some banks which are regulated by the Reserve Bank of India (RBI). These banks are started with the main motive to serve particular sectors of the society. Though large based banks would also carry out activities, however small banks such as the above would only cater needs to small sections of the …

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Listing of Global Securities on London Stock Exchange

The London Stock Exchange is one of the world’s most international capital markets, home to approximately 2,200 companies from more than 70 countries around the world. More than 500 of these companies are Global. The markets of the London Stock Exchange put UK and international companies in touch with one of the world’s deepest pools …

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SECTION 185 OF COMPANIES ACT (LOAN TO MANAGING DIRECTORS AND WHOLETIME DIRECTORS BY THE COMPANY)

Section 185(1) of the Companies Act, 2013 No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by,— (a) Any director of company, or of a company which is its holding company or any partner or …

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DRAFT FORMAT OF DIRECTORS REPORT OF A PRIVATE LIMITED

Dear Members, XYZ PRIVATE LIMITED Your Directors have pleasure in presenting the (No. of AGM) Annual Report together with the Audited Statement of Accounts of your Company for the Year ended March 31, 2021. 1. FINANCIAL SUMMARY The Company’s financial performance, for the year ended March 31, 2021:                    …

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COMPLIANCE DESK AND CORPORATE COMPLIANCES OF A LISTED COMPANIES

a. Annual Compliances of Listed Companies S. No.   Regulations Timeline Brief Particulars 1. 34 Within 21 working days of it being approved and adopted. Submission of Annual Report 2. 44 Within 48 hours of conclusion of general meeting Submission of voting results 3. 24A Within 60 days of end of financial year Submission of …

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Introduction to Tonnage Tax Scheme

Tonnage Tax Scheme– Government of India has introduced Tonnage Tax System (TTS) for taxation of income from shipping activities by an Indian Company. Tonnage Tax Scheme is an optional scheme for qualifying Indian shipping company. Only after satisfying certain conditions a company is eligible to be enrolled under the scheme. Eligibility Criteria for Tonnage Tax …

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NOC FROM UP POLLUTION CONTROL BOARD

  About Uttar Pradesh Pollution Control Board U.P Pollution Control Board is a statutory organization entrusted to implement Environmental Laws and rules within the jurisdiction of the state of Uttar Pradesh, India. U.P. Water Pollution Prevention and Control Board, constituted on February 3, 1975, initially under the Water (Prevention and Control of Pollution) Act., 1974, …

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ROLE OF A COMPANY SECRETARY AS A FORENSIC AUDITOR

ROLE OF A COMPANY SECRETARY AS A FORENSIC AUDITOR A Forensic Auditor is appointed to analyze, interpret, summarize and present complex financial and business-related issues in a manner that is both understandable and properly supported. Forensic Auditors can be engaged in Practice or employed by Insurance companies, banks, police forces, government agencies and other organizations. …

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Quality Control for Firms that Perform Audit and Reviews of Historical Financial Information and other Assurance and Related Services Engagements

  Quality Control for Firms that Perform Audit and Reviews of Historical Financial Information and other Assurance and Related Services Engagements Introduction:- The purpose of SQC 1 Standard on Quality Control is to offer guidance with respect to the responsibilities of a firm for the system of quality control for its audits and reviews and various …

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Appointment of Auditor in Casual Vacancy due to resignation of Auditor under Companies Act 2013

Appointment of Auditor in Casual Vacancy due to resignation of Auditor under Companies Act 2013 The term Casual Vacancy not defined in Companies Act but any Vacancy caused due to death, resignation, and disqualification of Auditor may be referred as casual vacancy. Different situations for Casual Vacancy of Auditors The Casual Vacancy situation can be …

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DIFFERENT TYPES OF DIRECTORS

Director:- As per the Companies Act 2013  Any Person Who Occupies the position of a director by whatever name called, Director appointed to the Board of a company.  In literal sense, it is natural person who has certain qualifications and/or experience which adds up to the growth of company. The collective group of these individual directors are …

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Amended Technology Upgradation Fund Scheme (ATUFS)

With Aim of ‘Make in India’, Digital India, ‘Zero Defect and Zero Effect’ in manufacturing Sector, government of India provides credit linked capital investment subsidy. This scheme would facilitate Opportunities of investment, productivity, quality, employment, exports and import substitution in textile industry. It will also indirectly promote investment in textile machinery manufacturing. Scheme Benefits & …

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FORMS OF CORPORATE ENTITIES IN NEW ZEALAND

NEW ZEALAND COMPANIES ACT 1993 1. Introduction Forms of Corporate or Business Organisations in New Zealand:- The principal forms of business organisations are the following. Bodies Corporate – Body Corporate are the separate legal persons from their- Owners companies, formed under the Companies Act 1993; limited partnerships, formed under the Limited Partnerships Act 2008; and …

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CONCISE STUDY ON SARBANES OXLEY (SOX) RULES

In 2002, the Sarbanes-Oxley (SOX) Act was passed by Congress in response to the fallout and uncertainty following frauds at World-Com and Enron. The Act introduced major reforms to the regulation of financial disclosure and corporate governance, with the goal of restoring the public’s confidence in auditing and financial reporting. The SOX Act 2002, also …

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INCORPORATION OF A COMPANY IN ENGLAND AND WALES

1.1 Incorporation: – Incorporation is the process by which a new or existing business registers as a limited company. A company is a legal entity with a separate identity from those who own or run it. The vast majority of companies are limited liability companies where the liability of the members is limited by shares or …

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HOW TO CREATE A HEALTHY AND DIVERSIFIED CORPORATE CULTURE AND ENVIORNMENT

Small businesses often overlook aspects like corporate culture or company culture that help keep the company stable. The focus of small businesses is to escalate the success ladder faster. But for the sustainance of this corporate culture, one needs to keep in mind building a conducive corporate culture. So how can SMEs build a good …

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FACTORING AMENDMENT BILL 2021

Factoring business:- Factoring business is a business where an entity acquires the receivables of another entity for an amount. Note that credit facilities provided by a bank against the security of receivables are not considered as factoring business. Factor can be a bank, a registered non-banking financial company or any company registered under the Companies Act 2013. Receivables is the total …

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TAXATION REGIME ON STARTUPS IN INDIA

1. Start-up Entity Forms Recognised under the Start-up India Scheme The definition of start-up recognises three entity forms for start-ups for the purpose of benefits under Income-tax Act,1961 as well as other benefits:- a partnership firm registered under section 59 of the Partnership Act, 1932 a limited liability partnership under the Limited Liability Partnership Act, …

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GST AND INCOME TAX ON CRYPTOCURRENCIES

What is Crypto currency? Crypto currency is a virtual or digital representation of money’s worth. Crypto currency is a digital currency that can be exchanged online for goods and services, but uses an online ledger with strong cryptography to secure online transactions. Crypto currency work using a technology called Block chain. A crypto currency is …

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