KraftBusiness

  Increasing the authorised share capital of a company is a common strategy that helps businesses raise additional funds, support growth, and expand operations. However, this process requires a clear understanding of the legal requirements and compliance under the Companies Act . Below, we’ll walk through the five key steps involved in increasing authorised share capital and ensure your company remains compliant throughout the process. What is Authorised Share Capital? Authorised share capital is the maximum amount of share capital a company can issue to its shareholders as stated in its Memorandum of Association. Increasing authorised share capital allows a company to issue more shares, which can be beneficial when seeking additional investment. Importance of Compliance under the Companies Act Under the Companies Act, increasing authorised share capital involves specific procedures, documentation, and approvals to ensure legal compliance. Adhering to these requirements helps compa...

  Cheques remain a popular method for transferring money, despite the rise of online banking and digital payments. Occasionally, you might need to cancel a cheque for various reasons such as errors in filling out the details, loss of the cheque, or preventing misuse. In this guide, we’ll walk you through the steps on how to cancel a bank cheque properly and safely. What is a Bank Cheque? Before diving into the cancellation process, it's essential to understand the main features of a cheque . A cheque is a written order instructing a bank to pay a specific amount from the issuer's account to a person or organization. It includes details like the date, payee's name, and the amount in words and numbers. Now that you know the structure of a cheque, let's explore the process of cancellation. When Should You Cancel a Cheque? You may want to cancel a cheque in the following situations: Mistakes in writing the cheque (wrong payee or amount). The cheque is lost or stolen. You c...

  Banking is an essential part of the global financial system, serving both individuals and businesses. Understanding the key differences between public and private sector banks can help consumers make informed decisions based on their financial needs. In this guide, we will delve into the structure, operations, and customer experience in both public and private banking. What Are Public and Private Sector Banks? Before diving deeper, it's crucial to define what separates public sector banks from private sector banks . These two types of banks differ primarily in ownership, management, and the way they serve customers. Public Sector Banks Public sector banks are owned and operated by the government. These banks are often established with the goal of serving the public interest, focusing on wider accessibility and financial inclusion. The government has a majority stake (more than 50%) in these banks, making them responsible for implementing various governmental financial policies....

  Section 8 companies in India are primarily formed for promoting commerce, arts, science, sports, education, research, social welfare, religion, charity, and environmental protection. These companies operate without the intention of making profits and are recognized as non-profit organizations (NPOs). If you're planning to register a Section 8 company in India, here's a detailed guide on the steps involved. What is Section 8 Company Registration? Section 8 Company Registration refers to the process of establishing a non-profit organization under the Companies Act, 2013. These companies are formed for charitable or social purposes, with profits reinvested to fulfill their mission rather than distributed as dividends. The registration process for such companies is regulated and requires specific compliance with the law. Key Benefits of a Section 8 Company Tax Exemptions: A Section 8 company can enjoy various tax benefits, including exemptions under the Income Tax Act. Legal Re...

  Registering a partnership firm is an essential process for entrepreneurs who wish to start a business with shared ownership. It provides a legal structure that defines the responsibilities, profits, and liabilities between partners. In this guide, we will walk you through the entire process of partnership firm registration , ensuring that your business gets a solid legal foundation. What is Partnership Firm Registration? Before diving into the process, it’s essential to understand what is partnership firm registration . It refers to the formal process of legally recognizing a partnership between two or more individuals who agree to run a business together. While it is not mandatory in all jurisdictions, registering a partnership provides legal benefits such as protection under the Partnership Act and easier access to financial support. Why Register a Partnership Firm? While registration is optional, it comes with significant benefits, such as: Legal protection and the ability to ...