learn

When stepping down from a director position, it’s useful to offer a letter of resignation as formal documentation of your intent to leave. This letter may ease the transition in your departure and help you maintain a healthy relationship with the organization.The Director of a company may resign from their position in writing at any time. The resignation must be addressed to the Board of Directors and must state the date on which the resignation is to take effect. Once the Board has received the resignation, they must record it in the minutes of their next meeting. The Director may also resign by orally informing the Board of their intention to do so. However, this oral resignation can only be accepted if it is unanimously agreed upon by all members of the Board. If there is even one dissenting vote, then the Director must submit their resignation in writing. Once a Director has resigned, they are no longer able to exercise any of their powers or perform any of their duties as Director. However, they remain liable for any wrongful acts that they have committed while in office. The Companies Act 2013 does not prescribe any particular format for the notice of resignation. However, it is advisable to include the following information in the notice: The date on which the resignation will take effect; The director’s name and address; The reason for resignation (if any); and A declaration that the director has no claims against the company. What is a director resignation letter? A director resignation letter is a statement that declares your intent to leave your position as the director of a board, company or other organization. The letter clarifies your intention to leave your job as director and set a final date of service. It can also help to maintain a positive professional relationship with the organization you’re leaving by giving them time to find a replacement before your departure. Resignation Under Section 168 There are a few key things to keep in mind when resigning as a director under section 168 of the Companies Act, 2013. Firstly, you must ensure that your resignation is in writing and submitted to the company’s registered office. Secondly, you must give at least one month’s notice of your resignation, unless the articles of association of the company stipulate a different notice period. Thirdly, you may be liable to pay damages to the company if you breach your contractual obligations by resigning without giving proper notice.  What Are the Documents Required for Filling Form DIR11 With the ROC The original copy of Form DIR11 duly signed by the director. A duly attested copy of the director’s resignation letter addressed to the company. An affidavit from the director in the prescribed format, declaring that they are not holding any office or position in any other company. A board resolution approving the director’s resignation. Copy of PAN Card Copy of Address Proof What Is the Procedure for the Company for the Resignation of the Managing Director as per Companies Act 2013 The managing director must give notice of resignation in writing to the company. The managing director must also submit a copy of resignation letter to the Registrar of Companies (ROC). After receiving the resignation letter, the board of directors must take necessary steps to appoint a new managing director within two months from the date of receipt of the resignation letter. Director’s notice of resignation to the company Director Resignation Letter Format Date, Month, Year To,The Chairman / SecretaryCompany Name Private LimitedCity, State, Pin Code Subject: Resignation from the Office of Director of the Company Dear Sir/Madam, I, [your name], submit this letter as an official notification of my intent to resign from my position as director of [specific organization or group]. I propose [date] as my final day of service in this position. This decision is due to [brief statement of the reason for resignation]. It has been a pleasure to serve as director for the past [amount of time you held the position], and it’s with overwhelming gratitude that I step down.I hereby release any and all the company’s claims for compensation for the remainder of my original term as director following my date of departure. I also acknowledge that upon my stepping down, I will no longer qualify for the benefits of this position as stated in my contract, including but not limited to office space, company shares and classified organizational information. Please consider this letter as an official release for the company of these and any other outstanding obligations pertaining to myself.In my time as director, I’ve had the opportunity to [specific example of opportunity]. I’m proud of what we as an organization have accomplished over the past [number] years, including [list accomplishments]. I look forward to watching this organization and community continue to flourish long after my departure.I’m happy to assist in any way I can with your upcoming efforts to recruit a new person for this position, including making recommendations, attending interviews or offering assistance with onboarding and training. If you’d like to contact me in the future for any reason, feel free to reach me via phone or email using the information listed above. Thanking You. Yours faithfully,DIRECTOR NAME FAQs How much notice must a director give to the company of his intention to resign? A director must give at least 7 days’ notice to the company of his intention to resign. Where should the notice of resignation be sent? The notice should be sent to the registered office of the company.

A birth certificate in India is an essential official record that documents an individual’s birth. It includes important details such as the person’s full name, their parents’ names, date of birth, place of birth, and gender. It is issued under the Registration of Births and Deaths Act, 1969 and must be registered within 21 days in India. It provides legal proof of identity, age, and citizenship, with fines applicable for late registration. Legality of Birth Certificate In India it is mandatory under the Law (as per the Registration of Births and Deaths Act, 1969), to register every birth with the concerned State/UT within 21 days of its occurrence. The government accordingly has provided a very structured system for registration of birth, with the Registrar General at the Centre and Chief Registrars in the states, running through district registrars to the village and town registrars at the periphery. Reason to Obtain Birth Certificate To register for marriage certificate, one can submit the birth certificate to prove age. To obtain documents like Passport, Voter ID, Driving license, etc. birth certificate can be used. To get admission in educational institutions. To claim insurance benefits. As per the Registration of Birth Act, 1969 it is required that every birth is to be documented within 21 days at the place of the event in the prescribed form of reporting. If the birth registration is not done within 21 days from its occurrence, then an affidavit must be filed stating the reason for the delay in registration. Eligibility criteria to avail Birth Certificate Any individual who is the citizen or NRI born in the state are eligible for availing the birth certificate. The birth certificate is issued to the parents in favour of child on the basis of application and specific amount deposited with application form to the concerned authority. Registration of Birth in Uttarakhand If the birth takes place in a hospital, nursing home or medical institution, such birth is to be reported by the institutions. If the birth occurred at home, it is the responsibility of the head of the family, or any other family member to report such births. Online Application Procedure Step 1: The applicant has to visit the official website of Uttarakhand to register the birth. Step 2: In case you are a new user of the e-District portal, you have registered in the portal for avail certificate services. Click on “Register” option on the home page. Step 3: You have to fill the required details and click on the “Activate account” button. Once the account has been activated, login to the e-District portal using your user id and user password. Step 4: Now click on the “Download” link on the menu bar and select the Application form option from the dropdown list. Step 3: You have to fill the required details and click on the “Activate account” button. Once the account has been activated, login to the e-District portal using your user id and user password. Step 4: Now click on the “Download” link on the menu bar and select the Application form option from the dropdown list. Step 6: Now you can fill the online birth registration form and attach the scanned documents along with the form. Step 7: After completing the application form successfully, submit it to the concerned authority along with the prescribed fee for the registration. Step 8: On submission of application, an acknowledgement slip will be given to verify the status of your application. FAQs Why is a birth certificate important? It is essential for availing benefits under social welfare schemes, validating identity, obtaining a driving licence, getting school admission, and acting as proof for the right to vote. Who is responsible for birth certificate registration in India? The Chief Registrar of births and deaths, along with local registrars and sub-registrars, is responsible for unifying, coordinating, and supervising birth certificate registrations.

The Statement of Financial Translations (SFT), formerly known as Annual Information Return (AIR), is a crucial tool in India’s fight against tax evasion and black money. It acts as a window into the financial activities of individuals and entities, revealing previously hidden transactions and ensuring transparency in the financial system. What is a Statement of Financial Transaction (SFT)? Filers must provide a statement of financial transaction or reportable account for their defined financial transactions. Such information reported will be reflected in the AIS – Annual Information statement of the taxpayer. This helps the taxpayer identify all the transactions reported to the income tax department and file their ITR accurately.  What is Form 61A of Income Tax Act? Form 61A is the form in which the details of specified financial transactions are to be filed under section 285BA of the Income Tax Act, 1961, read with Rule 114E of the Income Tax Rules, 1962. Form 61A is used to report all the Specified Financial Transactions to the Income Tax Department. This helps the tax department to identify high-value transactions and compare them with the income reported by such persons(that are executing such high-value transactions) in their income tax returns. The tax department sends notices to such persons if there is a mismatch. Thus, it helps in avoiding tax evasion. In simple words, Form 61A acts as a bridge between the Income Tax Department and reporting entities, providing transparency and enabling the department to identify discrepancies between reported income and high-value transactions. Who must file Form 61A? The following persons/entities are required to file SFT when they enter into specified transactions as discussed below – Person liable for audit u/s 44AB of the Income Tax Act Banking Company Co-operative Bank Post Master General of Post Office Nidhi Company referred u/s 406 of the Companies Act 2013 NBFC(Non-banking Financial Company) Company or Institution issuing bonds or debentures Company issuing shares Listed Company (listed on a recognized stock exchange) purchasing its own securities u/s 68 of Companies Act 2013 Trustee of a Mutual Fund or such other person managing the affairs of the MF Authorized Person under FEMA(Dealer, Money Changer, Off-shore Banking Unit, or any other person defined in FEMA, 1999) Inspector-General/Registrar/ Sub-Registrar appointed under Registration Act, 1908 A banking company, a bank, or any other company or institution issuing a credit card Nature, Value and Person Responsible to Report a Specified Transaction Section 285BA authorises the Central Board of Direct Taxes (CBDT) to prescribe different values with respect to different specified financial transactions in respect of different specified persons having regard to the nature of such transactions. The same prescribed by CBDT via Rule 114E is given below: SI. No Nature of transaction to be reported Monetary threshold of transaction Specified person required to submit SFT 1 Cash payment purchase of bank drafts or pay orders or banker’s cheque, Aggregating to Rs.10 lakh or more in an FY A banking company or co-operative bank to which the banking regulation applies. Cash payments for the purchase of pre-paid instruments issued by the Reserve Bank of India, Aggregating to Rs.10 lakh or more during the FY,  Cash deposits or withdrawals from one or more current accounts of a person Aggregating to Rs.50 lakh  or more in an FY 2 Cash deposits in one or more accounts other than a current account and time deposit of a person Aggregating to Rs.10 lakh or more in an FY A banking company or co-operative bank to which the banking regulation applies, Post-Master General of a post office 3 One or more time deposits (other than renewed time deposit of another time deposit) of a person Aggregating to Rs.10 lakh or more in an FY A banking company or co-operative bank to which the banking regulation applies, Post-Master General of a post office,  Nidhi Company as per Section 406 of the Companies Act, 2013,  NBFC – Non-banking financial company holding a certificate of registration under RBI Act to hold or accept deposit from public 4 Credit card payments made by any person either in cash or by any other mode in a FY. Aggregating to Rs.1 lakh or more in cash OR  Rs.10 lakh or more by any other mode in an FY A banking company or Co-operative bank to which Banking Regulation applies or any other company or institution issuing credit card 5 Receipt from any person for acquiring bonds or debentures issued by the company or institution (other than renewal) Aggregating to Rs.10 lakh or more in an FY A company or institution issuing bonds or debentures. 6 Receipt from any person for acquiring shares (including share application money) issued by the company Aggregating to Rs.10 lakh  or more in an FY A company issuing shares 7 Buyback of shares from any person (other than the shares bought in the open market) Aggregating to Rs.10 lakh  or more in an FY Listed company purchasing its own securities under Section 68 of the Companies Act, 2013 8 Receipt from any person for acquiring units of one or more schemes of a mutual fund (other than transfer from one scheme to another) Aggregating to Rs.10 lakh or more in an FY A trustee of a mutual fund or any such other person authorised to manage the affairs of the mutual fund 9 Receipt from any person for sale of foreign currency including any credit of such currency to a foreign exchange card or expense in such currency through a debit or credit card or through the issue of travellers cheque or draft or any other instrument Aggregating to Rs.10 lakh or more during an FY Authorised person as referred to in Section 2(c) of the Foreign Exchange Management Act, 1999 10 Purchase or sale of immovable property Transaction value or valuation of stamp duty authority referred in Section 50C for an amount of Rs.30 lakh or more. Inspector-General appointed under Section 3 of the Registration Act, 1908 or Registrar or Sub-Registrar appointed under section 6 of that Act. 11 Cash receipt

An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process wherein a company exports a product at a price that is significantly lower than the price it normally charges in its home (or its domestic) market What is Anti-Dumping Duty? Anti-dumping duty is a tariff imposed on imports manufactured in foreign countries that are priced below the fair market value of similar goods in the domestic market. The government imposes anti-dumping duty on foreign imports when it believes that the goods are being “dumped” – through the low pricing – in the domestic market. Anti-dumping duty is imposed to protect local businesses and markets from unfair competition by foreign imports. Normal Customs Duty vs Anti-Dumping Duty While anti-dumping measures are linked with the notion of fair trade, customs duties aim at the overall development of the economy. Customs duties fall under the ambit of trade and fiscal policies of the Government, whereas anti-dumping is a remedial measure. Anti-dumping is implemented to offset the injurious effect of international price discrimination, while customs duties have implications for the government revenue and the overall development of the economy. Anti-dumping measures may not necessarily be in the form of duties/tax. Anti-dumping duties are imposed against exporter/country inasmuch as they are country specific and exporter specific, in contrast to customs duties which are universally applicable to all imports irrespective of the country of origin or the exporter. Initiating Anti-Dumping Investigation There is sufficient evidence to prove the existence of dumping. Dumping exists if there is adverse impact on the domestic industry, and the dumped imports led to the alleged adverse impact on domestic industry. The domestic producers expressly supporting the anti-dumping application must account for at-least 25% of the total production of a similar article by the domestic industry. FAQs What is anti-dumping duty? Anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. This measure aims to protect local industries from unfair competition by foreign companies. Why is anti-dumping duty imposed? Protect domestic industries from unfair trade practices. Prevent the flooding of the market with cheaper foreign goods. Ensure fair competition between domestic and foreign manufacturers.

Established in 2008, National Skills Development Corporation (Which is the NSDC full form) is a not-for-profit public limited company, incorporated under Section 25 of the Companies Act 1956. NSDC was set up by the Ministry of Finance, as an entity named ‘Public-Private Partnership’. NSDC’s primary focus is to promote skill development throughout the country. Funding provided by NSDC can be used for the working capital requirement for skill development activity and is not provided for buying or constructing any type of immovable property that includes land or building, etc. Not-for-profit public limited company established on July 31, 2008, as a Private Public Partnership (PPP) model by the Ministry of Finance. The Government of India under Ministry of Skill Development and Entrepreneurship (MSDE) is obliged to get 49% of the share capital of NDSC, and private sectors get the remaining 51% share. The organization provides funds to build scalable and profitable vocational training institutions. NSDC acts as a catalyst by rendering funds to enterprises, companies and organizations that provide skill training. Moreover, innovative models have been developed to enhance, support and coordinate private sector initiatives. Key Functions of NSDC Provides funding to build accessible and profitable vocational training centers Develop low-cost and high-quality business models Enables a support system that emphasizes quality assurance and information systems Directly training the trainer academies or via partnerships Provides funding support to companies, enterprises, and organizations that promote and provide skill training and development Develops suitable models to improve, support, and coordinate private sector initiatives Objective The organization contributes significantly to the overall target of skilling up of people across the nation by fostering private sector initiatives through skill development programmes. It enables support system that emphasis on quality assurance, information systems and train academies either directly or through partnerships. Mission The mission of NSDC is to Upgrade skills to international standards and develop mandatory frameworks for curriculum, standards and quality assurance. Enhance, coordinate and support private sector initiatives for skill development through appropriate Public-Private Partnership (PPP) model and strive for significant financial and operational involvement from the private sector. Acts as a ‘market-maker’ by bringing funds to sectors where market mechanisms are lacking or ineffective. Prioritize initiatives that can provide multiplier or catalytic effect as opposed to one-off impact. Vision NSDC was established as part of a National Skill Development Mission to meet the growing requirements in India for skilled human resources and narrow the existing gap between demand and supply of skills. Key Roles National Skill Development Corporation plays three key roles that are Funding and incentivising Enabling support services Shaping/creating Funding and Incentivising This includes providing loan/equity, grants and supporting financial incentives to select private sector initiatives to improve financial viability through tax breaks. The exact nature of funding (equity, loan and grant) depends on the viability or attractiveness of the segment and to the type of player, for-profit private, non-profit industry association or non-profit NGO. Gradually, NSDC aspires to create strong, viable business models and reduces its grant-making role. Enabling Support Services A skill development institute requires several inputs or support services such as curriculum, faculty training standards, quality assurance, technology platforms, student placement mechanisms etc. NSDC contributes to these support services to set up standards and accreditation systems in partnership with industry associations. Shaping/creating NSDC proactively provides momentum for large-scale participation by private players in skill development. NSDC identifies critical skill groups, develop models for skill development and attracts potential private players. NSDC Schemes and Initiatives Pradhan Mantri Kaushal Vikas Yojana (PMKVY) Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a scheme initiated by Government of India under Ministry of Skill Development & Entrepreneurship (MSDE) and implemented by NSDC. PMKVY enables Indian youth to undertake industry-related skill training that will help them to do job and earn money for better living. Key components of PMKVY Recognition of Prior Learning (RPL) Short-term training programs Placement assistance for youth Special projects and continuous monitoring Kaushal and Rozgar Mela Standardized branding and communication Pradhan Mantri Kaushal Kendra (PMKK) Pradhan Mantri Kaushal Kendra (PMKK) promotes vocational training to develop skills among people of India. Under NSDC, Ministry of Skill Development and Entrepreneurship (MSDE) plans to establish Model Training Centres (MTCs) in almost every city and district of the nation. Funding Support NSDC shall offer concessional secured loan funding up to 75% of the project investment for each centre. The corporation offers funding to cover expenditure only concerned with the following: Training infrastructure that include purchase of plant, equipment and machinery Civil work such as setting up prefabricated structures and retrofit existing structures Training aid and associated items Udaan Implemented by NSDC and funded by Ministry of Home Affairs, Udaan is a Special Industry Initiative (SII) for the youth of J&K. Udaan program fulfills the requirements of educated unemployed youth of J&K by providing skills and job opportunities. The prime focus lays on graduates, post graduates and 3 year diploma engineers. Udaan program has a target of fulfilling the needs  FAQs How can NSDC support my organization? NSDC shall provide a loan depending on the type and nature of the proposal and the loan amount and interest rate will depend after the proposal is read by the corporation. What is the interest rate offered by NSDC for loans offered to applicants? The interest rate offered by NSDC is as low as 6% per annum.

The Urban Administration & Development Department started the E-Nagar Palika project in June 2015. It’s a fully integrated web-based uniform e-governance solution provided to all ULBs on turnkey basis. The project aims to improve the municipal decision-making process, provide a better level of services to citizens and enhanced transparency, accountability and inclusiveness through the provision of relevant, accurate and up-to-date information at all levels within the Urban local bodies of M.P. E- nagar palika is an SAP based ERP platform ,deployed by department in April 2017 across all ULBs in state. Through portal mpenagarpalika.gov.in, citizens and ULB can avail online services. citizens can also avail services through mobile app mpenagarpalika.gov.in, thus getting services on “anytime–anywhere” concept. Through e-Nagar Palika, many municipal services like payment of taxes, fees, marriage registration, license etc are made online, and it provided citizens with ease to avail of all the related services while sitting at home. Through e-nagar palika, ULBs are now discharging their duties online through implementation of various modules like Finance, HR, Project system, Material management etc. which has increased transparency, accountability and disposal of functions/ duties in specified time by ULB. Prominent features of the e-nagar palika system Revenue and non revenue collection like property tax, water rate, shop rent, license etc made online. Citizens can make online payment of taxes/fees through e-nagar palika portal www.mpenagarpalika.gov.in Citizens can also make payment through mobile app,mp enagarpalika.gov.in. Thus facilitating the concept of payment “Anytime-anywhere”. Payments of taxes/ fees through various modes like Debit card, credit card, UPI, QR code , Net banking etc. Citizen centric services like Water Connection, Sewerage Connection, Marriage Registration, Licence, Tree Cutting, Fire Noc etc can be availed online by citizens through e-nagar palika portal. Provision of making online complaints/ grievances like debris collection, litter collection, tubelight repairing through e-nagar palika. All types of payments and purchases made online in ULBs. Salary and wages of municipal employees and staff is online through e-Nagar Palika system. Provision of Leave records, maintaining service book etc through the e-nagar palika system. Provision of issuing digitally signed certificates like Marriage Certificate, Fire Noc, Trade Licence etc through the e-Nagar Palika. Accounting and budgeting system made online. Provision of e-cash book, generation of trail balance , opening balance sheet etc through the system. Project system and material management made online. Now online preparation of work estimates, technical sanction, work order etc through e-nagar palika. Data maintained under e-nagar palika is accessible to other government departments through API. Integration of services has also been done with other departments. To facilitate smooth online working in ULBs and to help citizens, Help desk service provided on 24 x 7 basis. Toll free no . 1800 2335522 is available to citizens for lodging their complaints. ULBs can also raise their complaints by generating SOLOMAN tickets in the system , which are resolved regularly. Through various MIS reports in system, now effective monitoring of ULBs is being done by UADD. This has resulted in the speedy implementation of various government schemes and projects. Provision of an Online system has helped in timely disposal of services, which has brought transparency and accountability in ULBs. e-Nagar Palika Citizen Service Birth Registration Death Registration Marriage Registration Property Tax Water Connection Bill Payment Fire NOC Request for Litter Collection (Paid Service) Request for Debris Collection (Paid Service) Request for Evidence Certificate and Fire Extinguishing Service (Paid Service) Request for Septic tank and Sewerage Cleaning (Paid Service) Request for Water Tanker (Paid Service) Request for Ambulance (Free Service) Request for Mobile Toilet (Free Service) Request for Funeral Van (Hearse) (Free Service) e-Nagar Palika Businesses Service Hoarding Registration Hoarding New Application Payment for Hoarding Trade License Online form- Trade License Payment for Trade License Download Trade License Certificate Online form – Trade License Renewal Trade Ledger Report e-Nagar Palika Tree Cutting/ Tree Transit  This service benefits the user with the list of services mentioned below. Tree cutting Procedure REquest for Tree Cutting (Paid SErvice) TRee cutting Login Status Check and Payment (Tree Cutting Application) Download Tree Cutting Certificate Tree Transit Procedure Request for Tree Transit (Paid Service) Tree Transit Payment Download Tree Transit Certificate e-Nagar Palika Grievance This portal provides the user with the grievance service. If the user has any grievance against any of the departmental services you can apply for your grievance through New Grievance and also can track the complaint by track grievance. e-Nagar Palika Portal Registration Choose the Service Step 1: The applicant has to select the appropriate services from the list of functions described above. Select the City Step 2: After selecting the service the page will be redirected to the next page, where you have to choose your city and then click on the “Continue” button. Application Form Step 3: After selecting your city, on the next page the application form will open up for availing the service. FAQs What is e-Nagar Palika? e-Nagar Palika is an initiative aimed at digitizing municipal services to enhance transparency, efficiency, and accessibility. It allows citizens to access various municipal services online. How can I access e-Nagar Palika services? You can access e-Nagar Palika services through the official website or mobile app. Register or log in to your account to use the available services.

A One Person Company (OPC) registration in Chennai, Tamil Nadu is the latest form of business structure in India which was introduced by the Companies Act, 2013 and abbreviation OPC stands for a One Person Company. This business structure was launched to give a boost to entrepreneurial ideas of the people who have a higher potential to begin their business venture as a one member army. These businesses are usually micro- businesses where the turnover is not likely to surpass Rs. 2 crores even in the best case scenarios. Requirements for One Person Company Registration in Tamil nadu First of all, a strong financial base for the company is given by the ₹1 lakh minimum paid-up capital needed for an OPC registration in Chennai online. Second, to ensure obedience to the legal framework, the OPC’s only shareholder and member must be a resident Indian person. Furthermore, meeting the age standard requires the single member and chairman to be at least eighteen. To show a real presence and obedience to the state’s rules, the OPC must also have a recognised office in Tamil Nadu. Finally, according to Registrar of Companies (ROC) rules, the suggested name of the OPC must be original and not the same or similar to any name of a current business. Entrepreneurs in Chennai can form a One Person Company and take use of its benefits, which include limited responsibility and a different legal body. Benefits of OPC Registration in Tamil nadu Legal Identity: OPCs are treated as separate legal entities, providing protection to the owner’s assets against business liabilities. Capital Acquisition: OPCs have a better standing than sole proprietorships when raising funds from investors and banks. Regulatory Relaxations: OPCs benefit from certain exemptions in compliance, reducing the administrative burden. Efficient Management: With a single individual making all decisions, the management process is streamlined and more efficient. Business Continuity: The structure of an OPC ensures its continuity despite changes in membership. Eligibility Criteria for OPC Formation in Tamil nadu The promoter must be an Indian citizen and have resided in India for at least 182 days in the preceding year. The OPC is required to have a minimum authorised capital of Rs 1 lakh. During incorporation, the promoter must nominate a person who will take over in case of the promoter’s incapacity or death. OPCs are restricted from operating in certain sectors, such as banking and investments. An OPC must convert into a private limited company if it exceeds specific financial thresholds. Documents Needed for OPC Registration Name Proof: To prove their name and meet legal requirements, the single shareholder and director must send a copy of their PAN or Aadhaar card. ● Evidence of Address: To prove the home address for official papers, the single shareholder and director must send a copy of their address proof, like a utility bill or bank account. ● Proof of Registered Office Address: To show the real location of the OPC in Chennai, a copy of the proof of the registered office address—such as a power bill or lease agreement—must be given. ● Memorandum of Association (MOA): The OPC’s actions and formal structure are described in large part by the MOA, which describes the company’s goals and power. ● Articles of Association (AOA): To build the OPC’s working standards and control framework, the AOA—a document describing the company’s internal rules and regulations—must be given. ● Director Identification Number (DIN): One important step in easing the tasks of the sole member and director in the OPC and uniquely identifying them in official records is to receive their DIN. Important Documents: ● PAN & Aadhaar self-attested ● Nominee’s phone number and email address ● Nominee’s Voter ID/Passport/Driving licence ● Passport-sized photos ● Memorandum of Association ● Articles of Association ● Aadhar Card or Voter ID copy ● Copy of PAN card ● The proof of the ownership of the Registered Office and NOC of the owner Registration Process Overview for OPC in Tamil nadu Digital Signature Acquisition Obtain a Digital Signature Certificate for the director to Digital Signature Certificate (DSC): Obtain a DSC for the intended director. This digital signature is essential for submitting documents electronically to the Ministry of Corporate Affairs (MCA). Director Identification Number (DIN) Apply for a DIN for the sole director of the OPC. This unique number is required for anyone intending to be a director within an Indian company. Name Reservation (RUN Form or SPICe+ Part A) Reserve a name for your OPC using the Reserve Unique Name (RUN) service or directly through the SPICe+ Part A form. Ensure the name is unique and not infringing on existing trademarks or company names. Preparation of Key Documents Draft the Memorandum of Association (MoA) and Articles of Association (AoA), which are crucial documents outlining the objectives and rules of your OPC. Nominee Appointment Select a nominee who will take over the OPC in the event of the sole member’s death or incapacity. Obtain consent from the nominee, which is a mandatory step in the OPC incorporation process. Filling SPICe+ Form (Part B) Attach necessary documents to the SPICe+ form, including the MoA and AoA, identity and address proofs of the member and nominee, registered office proof, and the nominee’s consent in Form INC-3. Attachments to the SPICe+ Form Attach necessary documents to the SPICe+ form, including the MoA and AoA, identity and address proofs of the member and nominee, registered office proof, and the nominee’s consent in Form INC-3. Submission and Review Submit the completed SPICe+ form and all attachments to the MCA portal. The Registrar of Companies (RoC) in Tamil nadu will review the application. Certificate of Incorporation Upon approval, the RoC will issue a Certificate of Incorporation, marking the official registration of your OPC. This certificate includes the company’s CIN (Corporate Identity Number). The PAN and TAN for the OPC will be automatically generated along with the certificate. Post-Incorporation Compliance: After incorporation, there are a few compliance requirements, such as the appointment of the first auditor within 30 days, opening a bank account, and any applicable registrations like GST, depending on the business activities and

Corporate Identification Number or Corporate Identity Number (CIN) is a 21-digit alpha-numeric number provided to all Private Limited Companies (PLCs), One Person Companies (OPCs), Companies owned by the Government of India, State Government Companies, Not-for-Profit, National Initiative for Developing and Harnessing Innovations (NIDHI) Companies, etc. registered in India. CIN number is a unique identification number that is given by the Registrar Of Companies (ROC) of various states under the Ministry of Corporate Affairs (MCA). CIN number is assigned to companies registered in India by the ROC located in states across the nation. CIN number is used to track all the activities of an enterprise after its registration by the ROC. This number contains the identity of an organization and additional information regarding the registered company under the ROC. The company’s information can be accessed using a 21-digit alphanumeric unique identification number by the ROC. What is Corporate Identification Number (CIN)? Corporate Identification Number (CIN) is a 21 digits alpha-numeric code issued to companies incorporated within the country on being registered by the ROC situated in different states across India under the MCA. CIN is provided to all companies registered in India, which include: Private Limited Companies (PLCs)  One Person Companies (OPCs)  Companies owned by the Government of India State Government Companies  Not-for-Profit Section 8 Company Nidhi Companies, etc.  However, CIN is not given to the Limited Liability Partnerships (LLP) registered in India. For the LLPs, the ROC gives the LLPIN (Limited Liability Partnership Identification Number) that acts as a unique 7-digit identification number of the LLP.  Breaking down Corporate Identification Number Section-1: The first character – L Section-2: The next five digits – 01631 Section-3: The next two letters – KA Section-4: The next four digits – 2010 Section-5: The next three characters – PTC Section-6: The last six digits – 096843 Each section provides the following information: Section-1: Consists of the first character of CIN that reveals whether a company is “Listed” or “Unlisted” on the Indian stock market. In other words, the first character implies the Stock Market listing status. In case a company is listed, the CIN would start with the letter ‘L’ and in case a company isn’t listed it would start with the letter ‘U’. Section-2: Consists of the next set of five numeric digits that categorizes the economic activity of a company or to which industry the company belongs to. This classification is based on the nature of the economic activities which would be carried out by such an establishment. The Ministry of Corporate Affairs (MCA) has allotted a number to every category or industry. Section-3: Consists of the next two letters that denote the Indian state where the company is registered. For instance, KA is for Karnataka, MH is for Maharashtra, DL is for Delhi, etc. It works in a similar fashion as the car registration number. Section-4: Consists of the next set of four numeric digits that signifies the year of incorporation of a company. Section-5: Consists of the following three letters that denote the company classification. These three letters help to identify whether a company is a private limited company or a public limited company. If the CIN number here is FTC, it would mean that such a company is a subsidiary of any foreign company or if it’s GOI, it would imply that such company is owned by the Indian Government. Section-6: Consists of the remaining six numeric digits that denote the registration number provided by the respective Registrar of Companies (ROC). Abbreviations in CIN number FLC: Financial Lease Company as Public Limited FTC: Subsidiary of a Foreign Company as Private Limited Company GAP: General Association Public GAT: General Association Private GOI: Companies owned by the Government of India NPL: Not-for-Profit License Company (Section 8 Company) OPC: One Person Company PLC: Public Limited Company PTC: Private Limited Company SGC: Companies owned by State Government ULL: Public Limited Company with Unlimited Liability ULT: Private Company with Unlimited Liability Usage of Corporate Incorporation Number On invoices, bills and receipts On notice On memos On letterheads Annual Reports and audits Every e-form submission on the MCA portal Company’s official publications Any other company publications Importance of Corporate Identification Number CIN is used for tracking all the aspects and activities of a company from its incorporation by the ROC and is required to be provided on all the transactions with the respective ROC. The 21 digit CIN has its own meaning which is easily translatable and which helps in finding basic information relating to a company. It is used for finding the primary details of the companies which are registered within the country under MCA. CIN is a unique number that can be used for identifying or tracking companies for several levels of information that ROC / MCA holds. The CIN contains the identity of an organisation and additional information regarding the registered company under the ROC.  Penalty for Non-Compliance If the above-mentioned requirements are not met or if a company does not apply for a CIN number, there is a penalty charge of Rs. 1000/day on the company and every officer and the maximum penalty charge is limited to Rs. 1 lakh. FAQs Are CIN and GST the same? No. A CIN is the identification number allotted to registered companies by the Registrar of Companies at the time of issue of the company registration certificate. On the other hand, GSTIN is the identification number issued to companies and businesses registered under the GST law. Hence, both are different and have different functions. Is CIN mandatory to be mentioned on the company’s invoices, bills, and receipts? Yes. As per section 12(3)(c) of the Companies Act, a company must print its name, address of its registered office and the CIN in all its business letters, billheads, letter papers, notices and other official publications. Thus, a company must mandatorily mention its CIN on its bills, invoices, receipts and e-mails sent to outside parties.

Live-in relationships, once considered taboo in Indian society, are gaining acceptance as an alternative to traditional marriage. However, despite the increasing prevalence, there is still ambiguity surrounding the rules and regulations governing live-in relationships in India. The concept of a live in relationship was a practice avoided by Indian society for a long time. Living together before tying the knot is an offence or crime to Indian culture previously. Most importantly, the Hindu Dharma prefers ‘One Man, One Wife’ as the most sacred form of matrimony. But as people start to evolve mentally, successive generations are ready to accept a few refusing practices. Lets have a look at the Live in relationship laws in India. Living together For example, cohabitation is a situation in which two people choose to live together for an extended period or permanently while maintaining an emotionally and/or sexually involved connection. The phrase is most usually used to refer to unmarried couples. For instance, let’s take the case of decriminalization of homosexual cohabitation. The recent judgments, like the decriminalising sections 377 and 497 of the IPC, show how Indian laws have also evolved along with society. What is the meaning of a Live in Relationship? A live-in relationship is an arrangement where a couple lives together in a long-term relationship that resembles a marriage. However, unlike marriage, it is not legally recognized. The couple lives together to understand compatibility before deciding on marriage. A living relationship couple are the ones who cohabit, with no expectations being the bottom line. However, there is no legal definition to describe the concept in Indian law. It is more of a Westernised theory with very little relevance with the Indian tradition. So the Supreme Court, at various instances, took the liberty to elaborate on the concept through their judgements. It is different from a marriage. (Marriage or wedlock or matrimony, is a socially/ritually knowledgeable union of a couple). Live in relationship partners don’t force on obligations. When asked if a live-in relationship is good or bad, there is no proper explanation on if it is good or bad. It merely depends on the person and one’s personality on looking from a different perspective. Live-in relationship under Indian law A domestic cohabitation between a major unmarried female and a major unmarried male. It is considered as the simplest kind of relationship between all. A domestic cohabitation between that was entered mutually by a major unmarried woman and a married man. A domestic cohabitation between that was entered mutually by a major unmarried man and a married woman. These two are the most acknowledged type of live-in relationship in India. Moreover, adultery is a type of relationship, and it is punishable under the Indian Penal Code, 1860. A domestic cohabitation between that was entered unknowingly by a major unmarried woman, and a married man is also punishable under Indian Penal Code, 1860. A domestic cohabitation between partners who are homosexual, cannot lead to a marital relationship. As in India, any matrimonial law for homosexuality is not defined yet. The legal status of live-in relationship in India Live-in relationships are not explicitly recognized under Indian law. However, the Supreme Court of India has recognized them as valid relationships and provided certain rights and protections to couples in live-in relationships. In western countries, there is a broader acceptance of a couple in a relationship. This can be understood by their civil and union agreements, legal recognition, prenuptial between couples. However, it is not similar in India. In most of the western Apex Courts, it was ruled that if a man and a woman has lived in a live-in relationship for a long term and even has children, same marital laws as a husband and a wife will be applicable on them. In India, the Apex Court even stated that a woman and a man living together is a choice and lies under the right to life. Hence, it is not a criminal offence. So, live-in relationships in India are legal. In a typical marriage, the partners are given certain rights and duties to be performed by either of them. There are several personal laws such as Hindu laws, Muslim laws, Christian Laws, etc. that govern and protect the marital bond of a recognized couple. Live In Relationship, being an alien concept to the Indian legislature, does not have any live in relationship laws for couples who live together without marriage involved in the relationship. Since living relationship also support pre-marital sex, there are high chances of a child being born. These children, unlike the successors born out of wedlock, do not have any rights over the inheritance. Besides this, society treats them as illegitimate children, which is unacceptable. However, the Hon’ble Supreme Court cleared them of this ill-fated. And granted them the status of a legitimate child along with the right to property. Live in relationships were legally considered void-ab-initio. But in a judgement in 1978, such relationships are valid for the first time because of the Supreme Court. If the requisites of a marriage such as mental soundness, the fulfilment of the legal age of marriage, consent, etc. are all satisfied, the couple is considered following live in relationship laws. The couple is also regarded as married if they live together for a considerably long period until proven otherwise. The apex court has given five different types of living together in the excellent judgement of Indra Sarma Vs V.K.V.Sarma in 2013. It also stated that such relationships fall within the ambit of Section 2(f) of the Protection of Women Against Domestic Violence Act, 2005 that provides an insight into the said concept. In living relationship, the facets of the relationship might come to a conclusion, irrespective of any decision made by the couple. Marriage and live-in relationship Marriage- Marriage in India is an institution that is ritually and socially accepted. Basically, it is a contract between the partners that imposes rights, duties and legal obligation towards each other. Because of the diverse culture in India, different laws have

In this age of cut-throat competition, everyone wants to grow their business beyond the limits of the domestic market. Doing business globally is more easy now-a-days due to the advent of internet and technology. However, before going business globally, you need to follow several procedures and laws and get various registration and license. IEC (Import Export Code) license is one of such prerequisites when you’re thinking of importing into or exporting from India. It is also known as Importer- Exporter Code. IEC (Import Export Code) is required by anyone who is looking to kick-start his/her import/export business in the country. It is issued by the DGFT (Director General of Foreign Trade). IEC is a 10-digit code that has lifetime validity. Predominantly importer merchants cannot import goods without the Import Export Code and similarly, the exporter merchant cannot avail benefits from DGFT for the export scheme, etc., without IEC. Import Export Code (IE Code) Import & Export Code is to be obtained by the business entity for import into or export from India. Import & Export Code is popularly known as the IEC number. Import & Export Code is a ten-digit unique number issued by the Directorate General of Foreign Trade (DGFT). IEC registration certificate is mandatory for a business involved in import and export. Hence, before initiating an import of goods into India, an importer must ensure that the importing entity has GST registration and IE code, both of which are required to clear customs. If an importer does not have both GST and IEC Code Registration, the goods will be stuck at the port and start incurring demurrage charges or could be destroyed. Situations where IEC is required When an importer has to clear his shipments from the customs then it’s needed by the customs authorities. When an importer sends money abroad through banks then it’s needed by the bank. When an exporter has to send his shipments then it’s needed by the customs port. When an exporter receives money in foreign currency directly into his bank account then it’s required by the bank. Importance of Import Export Code International market unlocks: As the IE Code is a requirement for the import and export business, they allow the products to reach the global market. IE code makes the entry of the international Indian company smoother and opens doors for growth and expansion. Online IEC registration: The process to find the IE Code is entirely online and hassle-free with short document submission. Less document requirement: It is not required to submit many documents to obtain an IEC. Lifetime Validity: IE Code is a lifetime registration valid as long as the business exists. Hence, there are no issues with updating, filing, and renewing Import Export Code registration. The IEC registration is valid until the company exists or the registration is not revoked or surrendered. Reduces illegal goods transportation: The most basic requirement for the Import-Export code is that you need to provide authentic information. Without giving proper information, IE code cannot be obtained. This criterion makes the transportation of illegal goods impossible. Availing Several Benefits: IEC code registration has enormous benefits for importers and exporters. The registered business entities can get help through subsidies from the Customs, Export Promotion Council or other authorities. With LUT filing under GST, the exporters can make exports without paying taxes. If the exports are made with tax payment, the exporter can claim the refunds of the paid tax amount. Compliances: Unlike other tax registration, the person carrying import or export does not require to fulfill any specific compliance requirements such as the annual filing or the return filings. Documents required for IEC Individual’s, firm’s or company’s copy of PAN Card. Proprietor’s voter ID, Aadhaar card or passport copy. Proof of establishment, incorporation or registration of the partnership, society, proprietorship firm, company, HUF, etc.  Proof of address of business premise, such as sale deed, lease deed, rent agreement or utility bills (electricity bill, telephone bill or mobile bill). Individual’s or company’s or firm’s cancel cheque copies of current bank accounts. A self-addressed envelope for delivery of IEC certificate by registered post. Steps involved in IEC (Import/Export Code) registration Visit the DGFT website. Click on the ‘Services’ tab on the homepage. Select the ‘IEC Profile Management’ option from the drop-down list. A new page will open. Click on the ‘Apply for IEC’ option on the page. Click on the ‘Register’ option. Enter the required details and click on the ‘Sent OTP’ button. Enter the OTP and click on the ‘Register’ button. Upon successful validation of the OTP, you will receive a notification containing the temporary password which you can change after logging into the DGFT website. After registering on the DGFT website, login to the website by entering the user name and password. Click on the ‘Apply for IEC’ option on the DGFT website dashboard. Click on the ‘Start Fresh Application’ button. Enter the general information, details of proprietor/partner/director/Karta/managing trustee, bank information, other details, attach Digital Signature Certificate (DSC) and make the payment. After successful payment, it will be redirected to the DGFT website. The receipt will be displayed. Download the receipt for future reference. The IEC Certificate will be sent in the email. It can be downloaded after logging in to the DGFT website and clicking the ‘Print IEC’ option under the ‘IEC Profile Management’. FAQs Is IEC mandatory? Yes. An Importer-Exporter Code (IEC) is mandatory for import to India or export from India. It is a significant business identification number for an import/export business. A person/entity cannot export or import without obtaining an IEC unless specifically exempted. However, IEC is not necessary for services exports, except when the service provider is taking benefits under the Foreign Trade Policy. Can individuals obtain IEC? Yes, individuals acting as proprietors of a business can obtain IEC registration. Individuals can use either the name or the name of their company to apply for IEC registration.