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Companies Act of 2013 specifically provides for the incorporation of entities established for charitable or not-for-profit purposes under Section 8. For a company to be incorporated as a Section 8 company, it must have been established for philanthropic objects like “promotion of commerce, art, research, social welfare, religion, science, sports, education,charity, protection of environment or […]
The Income Tax Act of 1961 grants many exemptions to institutions established to advance social welfare. Any tax which is levied on such institutions is dependent on the nature of their income. Section 11 of Income Tax Act 1961 grants exemptions to income received from a trust held for charitable or religious purposes. The Income […]
Private Placement (PP) refers to an act of a company to raise funds without issuing securities publicly. Companies offer securities or invite certain specific people to subscribe to the securities by providing a Private Placement Letter. A company can issue securities like shares, preference, and equity shares by employing Private Placement to raise capital. Private […]
Woven sacks made from high-density polyethylene or polypropylene are often used for packaging and carrying vast amounts of sugar, food grains, sand, and other materials. These high-density polyethylene or polypropylenes (HDPE or PP) woven sacks are steadily becoming the proven choice to contain materials which require sturdy packaging. This is because HDPE or PP woven […]
A Section 8 company is a not-for-profit or charitable entity which is formed for charitable objects like “promotion of commerce, social welfare, religion, charity, art, science, sports, education, research, protection of environment or any other such object”. For a company to be incorporated under Section 8, it should be created keeping any of the above […]
The BIS or Bureau of Indian Standards, was established by the Ministry of Consumer Affairs, Food and Public Distribution. It is a national certification body which lays down specific standards for products to be deployed in India and has mechanisms to regulate and assess such standards to ensure optimum levels of quality and safety of […]
The Telecommunication Engineering Centre was instituted by the Ministry of Communication and Information Technology in 1991 to aid the Department of Telecommunication in creating, implementing, monitoring, and regulating the standards and developing policies concerning the safe and secure use of new innovative technologies in the telecommunications sector. The Telecommunication Engineering Centre or TEC provides certain […]
The Goods and Services Tax or GST was introduced by the Government of India on 1 July 2017 with the aim to put in place a single consistent tax system which is destination based. GST is the tax which is levied on the goods and services provided for in the Indian economy and it was […]
The BEE or the Bureau of Energy Efficiency, was set up under the Energy Conservation Act, 2002 by the Ministry of Power. The BEE was instituted to ensure that electrical appliances and products in the Indian market meet optimum standards of energy efficiency and are economical from the perspective of the usage of energy. The […]
India has seen steady growth in the rise of software companies in the last decade. The startup ecosystem of India is the 3rd largest in the world and this has been made possible by globalization and various technological advancements. The Government of India has provided various funding schemes and other offers to encourage the establishment […]
The Food Safety & Standards Authority of India or FSSAI, is an autonomous body instituted by the Ministry of Health & Family Welfare to certify the safety and quality standards of food products, and help reduce adulteration of food and substandard food products in India. It has been established under the Food Safety and Standards […]
Pathology is the branch of medicine that deals with the diagnosis and study into the root cause and effect of diseases facilitated through laboratory testing of samples of bodily fluids and body tissues. Pathology labs help in providing accurate patient diagnosis by providing evidence and insights into any disease or imbalance existing in the human […]
Section 455 of the Companies Act, 2013 introduced the concept of Dormant Companies under Indian law as the concept of dormant companies was absent from the erstwhile Companies Act, 1956. Dormant refers to the state of being temporarily inoperative or dormant. A dormant company is one which has been registered under the Companies Act, 2013 […]
The Policy Guidelines for Fixed Dose Combinations in India was released by the Ministry of Health and Family Welfare in 2013. The policy defines co-packaged products as “a product consisting of two/more separate pharmaceutical products or items in their final dosage form that are packaged together for distribution to patients in the co-packaging”. The United […]