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Can a salaried person be a director in a company? Yes, a salaried person can become a Director in a company, but there are some legal and contractual points to keep in mind: Types of Directors a Salaried Person Can Become Executive Director (Whole-Time Director) – If the salaried person wants to be actively involved … Read more
Board Resolution Format for Appointment of Director Appointing a new director is an important step for any company. Directors play a key role in guiding the company’s growth, ensuring legal compliance, and protecting the interests of shareholders. Whether it’s to fill a vacancy, bring in new skills, or strengthen the leadership team, choosing the right … Read more
Main Objects (MOA) of a Drone Manufacturing Company Drone manufacturing is a dynamic and forward-thinking industry that represents the convergence of advanced technology, innovation, and real-world utility. The global demand for drones is surging across industries such as agriculture, construction, logistics, healthcare, defense, and public safety. Drones offer unmatched efficiency, cost-effectiveness, and precision, making them … Read more
GST Registration in Jamui, Bihar: A Simple Guide Jamui, located in Bihar, is growing as a hub for small businesses and entrepreneurs. Whether you’re starting a new business or already running one, getting GST registration is an important step to comply with tax laws and grow your business. Here’s a simple guide to help you … Read more
Cash Balance Confirmation Certificate format A Cash Balance Certificate is an essential document used to confirm the cash balance of a company as of a specific date, providing reliable evidence of cash holdings for auditors. This guide offers a ready-to-use format for a Cash Balance Certificate, along with key points to ensure it meets audit … Read more
Salary paid to the director’s relative as a full-time employee is related party transaction? Yes, salary paid to the relative of the Director or a related party who is employed as a full-time employee is considered a related party transaction (RPT). Even if the related party is employed full-time, the transaction (salary payment) must be … Read more
Depreciation chart as per Income Tax Act: A Comprehensive Guide Depreciation is a key element in calculating taxable income under the Income Tax Act, 1961. It refers to the decline in the value of an asset due to wear and tear, usage, or obsolescence over time. The Income Tax Act allows businesses to claim depreciation … Read more