Chhota CFO

To carry   on the business of Software designing, development, customisation,   implementation, maintenance, testing and benchmarking, designing, developing   and dealing in computer software and solutions, and to import, export, sell,   purchase, distribute, host (in data centers or over the web) or otherwise   deal in own and third party computer software packages, programs and   solutions, and to provide internet / web based applications, services and   solutions, provide or take up Information technology related assignments on   sub-contracting basis, offering services on-site/ offsite or through   development centers using owned /hired or third party infrastructure and   equipment, providing solutions/ Packages/ services through applications   services provider mode via internet or otherwise, to undertake IT enabled   services like call Centre Management, Medical and legal transcription, data   processing, Back office processing, data warehousing and database management. For more details visit our blog : https://bit.ly/3HUVVaD

The first Auditor   shall be appointed in the company by Board of Director under Section 139(6)   or 139(7) of the Companies Act, 2013. For more details visit our blog : https://bit.ly/3nNRx56

XBRL stands for   eXtensible Business Reporting Language, a language for the electronic   communication of business and financial data that has   revolutionized business reporting around the world. XBRL major   benefits include ease in preparation, analysis and communication of business   information by the corporates. XBRL offers cost savings, greater efficiency,   improved accuracy as well as reliability to all those involved in supplying   or using financial data. For more details visit our blog : https://bit.ly/3DJ30bU

PAN is   an electronic system through which, all tax related information for a   person/company is recorded against a single PAN number. This acts as the   primary key for storage of information and is shared across the country.   Hence no two tax paying entities can have the same PAN. For more details visit our blog : https://bit.ly/3Do0l7b

Every   Director resigning from the Board of the Company must submit his resignation   letter to the Board of the Company for their acceptance. For more details visit our blog : https://bit.ly/3ot8bWG

The Ministry   of Corporate Affairs has notified an amendment in the Companies   (Specification of Definitions Details) Rules, 2014 that came into force on   1st April 2021. For more details visit our blog : https://bit.ly/3n2RBh8

Every   entity must present its financial information to all its stakeholders.    The information provided in the financials must be accurate and present a   true picture of the entity. For this presentation, it must account for all   its transactions. Since economic entities are compared to understand their   financial status, there has to be uniformity in accounting. For more details visit our blog : https://bit.ly/3qbX6vU

“Prevention   is better than cure”, Well ! All of us have heard   this quote very often, taking preventive measures to avoid notices from   department is definitely a better way-out than curing the defects with   consequences. Planning your taxes well will elucidate the matter than   thinking to evade taxes. “Tax Planning is better than Tax Evasion” For more details visit our blog : https://bit.ly/3w0pXEr

You’ve always wanted   to sell something on the internet, right? Accept the fact that not everyone   can build a successful ecommerce business like Amazon’s Jeff Bezos   or Flipkart’s Sachin Bansal, but anyone can join their journey and make it   big. For more details visit our blog : https://bit.ly/3DApXgH

Employees Stock Option Scheme and Sweat Equity Shares are two methods of issuing shares by a company to its employees and also can increase the share capital of the Company.

As per Section 2(37) of the Companies Act, 2013 employees stock option means the option given to the directors, officers or employees of a company or of its holding company or subsidiary company or companies, if any, which gives such directors, officers or employees, the benefit or right to purchase, or to subscribe for, the shares of the company at a future date at a pre-determined price.

As per Section 2(88) of the Companies Act, 2013 Sweat Equity Shares means that such equity shares as are issued by a company to its directors or employees at a discount or for consideration, other than cash for providing them know how or making available rights in the nature of intellectual property rights or values addition, by whatever name called.