Prince Kunal

September 5, 2015 By Prince Kunal

Frequently asked questions- FAQs on ROC Compliances

Frequently asked questions-

FAQs on ROC Compliances

Whether compliance with ROC is mandatory to Company?

Registrar of Companies (ROC) is the official agency that deals with administration of Companies Act 1956 and it falls under Ministry of Corporate Affairs. All the Companies incorporated under the Companies Act, 1956 are mandatory required to file various forms, returns and documents with the Registrar of Companies (ROC) in an electronic mode within the prescribed time along with the prescribed fees.

What are the various ROC Compliances Companies have to do?

Companies have to Comply with ROC by filing various return, forms and documents and these could be categorized in two heads.

Annual compliance filling – Compliances which are required to be made once in a year by all the companies incorporated under the Companies Act, 1956.

Other Compliance filling – Compliances which are required to be made from time to time on various events.

What is Annual Compliance Filing?

As a part of Annual Filing, Companies incorporated under the Companies Act 1956, are required to file the following e-Forms with the Registrar of Companies (ROC):

Form 23AC : For filing Balance Sheet by all Companies
Form 23ACA         : For filing Profit & Loss Account by all Companies
Form 20B                : For filing Annual Return by Companies having share capital
Form 66                      : For filing Compliance Certificate by Companies having paid up capital of Rs. 10 lakh – Rs. 2 crore
Form 21 A                : For filing Annual Return by Companies not having share capital

What is the due date for filling of annual return?

Form 66, 23AC, 23ACA should be filed within 30 days from the date of AGM. Form 20B should be filed within 60 days from the date of AGM.

What are the various events in which compliance with ROC is required?

Given below is the list of few events in which compliance with ROC is required:

Change in Authorised / Paid up Capital of the Company.
Allotment of new shares / transfer of shares / invitation to subscribe for shares.
Issue of shares to the Directors / employees of the Company.
Subdivision of face value of the shares of the Company.
Investment in share / other securities. Giving Loans to other Companies.
Change in composition of the Board of Directors.
Appointment of Managing / whole time Director and payment of remuneration.
Payment of remuneration to Director / his relative / firm of the Director etc. are contracting with any of the above.
Loans to Directors / Members or to firms / companies where they are partner / members respectively. Giving loans to Companies under same management.
Opening / closing of bank accounts or change in signatories of Bank account.
Change in terms of the Loan taken earlier.
Full payment of the amount of loan taken against the property of the Company.
Acceptance of deposits from Directors / members of their relatives.
Executing the documents under the common seal of the Company.
Sale or purchase of the fixed assets of the Company.
Entering into new business / Partnership.
Alteration of memorandum and articles of association of the company.
Doing the business with a non resident or a foreign citizen.
Convening the meetings of the Company. Submission of the resolution to any other third party / any authority, maintenance of board meeting minutes book.
Maintenance of minutes of general meetings and its attendance.
Amalgamation of the Company with other company.
Shifting the registered office of the Company from one place to other.
Appointment or change of the Statutory Auditors of the Company.
Agreement entered by the shareholders of the Company where Company is a Party.

What is the penalty imposed if a Pvt. Ltd Co. fails to file annual return on time?

As per Section 162 of the Companies Act, 1956, if a Company fails to comply with the provisions of Section 159, then the Company and every officer who is in default shall be punishable with fine for the period for which default continues.

Can an Annual filing e-Forms already filed be revised?

Yes, revised filing of all Annual filing e-Forms except Form 23AC/ACA can be done in respect of the Forms already filed but the fees for subsequent revised filing shall be charged, assuming it as a new filing.

How to know the status of e-forms filed with ROC?

On Successful e-filing and payment of e-form a SRN (Service Request Number) is provided and with the help of this number one can view the status of transaction using the “Track your transaction status” link in the website of MCA. Moreover, once the form has been approved by the concerned official of the Ministry, one will receive an email regarding the same and the status of the form will get changed to Approved. In case the status is other than approved, necessary action need to be taken.

Topic of the page:

Frequently asked questions-

FAQs on ROC Compliances

Article written and compiled by: ACS Prince Kunal

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September 5, 2015 By Prince Kunal

FAQ ON COMPANY REGISTRATION IN PATNA-COMPANY REGISTRATION RANCHI

FAQ ON COMPANY REGISTRATION IN PATNA-COMPANY REGISTRATION RANCHI-COMPANY REGISTRATION PROCEDURES IN PATNA-RANCHI-FREQUENTLY ASKED QUESTIONS

Company Registration in India – FAQs

1) What are the type of companies that I can register in India?

One Person Company (OPC) – It is a form of company with only one member.The process of starting up an OPC is same as that of a general private limited company. It is a hybrid structure that infuses the benefits of a sole proprietorship business with a company form of business.

Private Limited Company– A separate legal entity with perpetual succession. A minimum of two persons are required for a company registration. Interestingly, no MINIMUM PAID UP CAPITAL is required to start a company.

Public Limited Company– At least least three directors. A public limited company can start its operations only after obtaining a Certificate of Commencement from the Registrar in addition to Certificate of Incorporation.

Company Limited by Guarantee – A major difference of this form of company with other forms is that it does not have a share capital or any shareholders. Incidentally, the company is governed by its members, and the extent of their liability is defined by the Memorandum of Association.

Non-profit Organizations (Generally known as Sec.8 Companies) – In India, popularly called Non-Profit organizations, come in three flavors, namely Trusts, Societies, Section 8 companies.

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2) What is a One Person Company (OPC)?

A One Person Company (OPC) is a hybrid structure, wherein it combines most of the benefits of a sole proprietorship and a company form of business. It has only one person as a member who will act in the capacity of a director as well as a shareholder. Section 2(62) defines One Person Company as a company which has only one person as a member.

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3) What will be the form of One Person Company?

One Person Company will be formed as a “Private Limited Company”. It can be formed as company limited by share capital or limited by guarantee or unlimited company. The words “One Person Company” will have to be mentioned in brackets below the name of such company, wherever its name is printed, engraved or affixed.

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4) What is the minimum authorized capital for starting up a One Person Company?

The process of starting an One Person Company is the same as that of a general private limited company. Hence, the minimum authorized capital of the One Person Company would be Rs. 1, 00,000. However, there is no minimum paid up capital requirement.

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5) What is the minimum number of directors and shareholders to form a One Person Company?

An One Person Company can be started with one director and shareholder only.

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6) Who is a nominee in a One Person Company?

A nominee is a person who in the event of death or disability of the subscriber of the One Person Company shall assume his position. Memorandum of Association of an One Person Company will mandatorily prescribe the name of the person. __________________________________________________________________________________________________________________________________

7) Can I appoint my wife as my nominee for my One Person Company?

Yes. Anyone can be appointed as a nominee, provided he or she holds a correct PAN in his or her name. __________________________________________________________________________________________________________________________________

8) How many One Person Companies can I form?

One individual can form only one One Person Company. __________________________________________________________________________________________________________________________________

9) Can a foreign national form an One Person Company?

No. Only an Indian citizen and resident can form an One Person Company. __________________________________________________________________________________________________________________________________

10) Who is considered as resident for the purpose of forming an One Person Company or being appointed as a nominee?

For the purposes of this rule, the term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one calendar year. __________________________________________________________________________________________________________________________________

11) In how many One Person Companies can a person become a nominee?

A person can become a nominee in not more than 1 One Person Company. __________________________________________________________________________________________________________________________________

12) What are the advantages that I will get if I incorporate a company in India?

Liability of the subscribers (the directors and shareholders) is limited to the amount of money they have paid for shares, thus Stakeholders are not typically liable for corporate debts and liabilities.
Extra capital can be raised by selling shares either privately or in the market. Members can leave or join without any restriction.
The death, bankruptcy or withdrawal of capital by one member does not affect the company’s ability to trade.
The disposal of the whole or part of the business is easily arranged.
Enjoys high credibility as the books of accounts and other documents are available for public vigilance.
ESOPs sweat equity and other incentives can be issued, which help attract and attain best of talents.
Overall transparency at various levels.
Separate Legal Entity from its owners. A company can sue or be sued on its own name.
Broader capital base than proprietorship firms. Usually attracts venture capitalists, angels and merchant bankers.

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13) I wish to register a company in India. Which type of company will be best suited for me?

The choice of the entity depends on the circumstances of the case.

Private Limited Company has lesser legal compliances.
It is relatively less cumbersome to incorporate, organize and operate a Private Limited Company as it has been exempted from many regulations and restrictions to which public limited company is subjected to.
There is no requirement of raising finance through public issue in case of Private Limited Company.
A Private Company can commence its business immediately after its incorporation, whereas a Public Limited Company cannot start its business until a Certificate of commencement of business is issued to it.
If limited capital is available, scale of operation is relatively low and ownership is intended to be held by limited people, then Private limited company is the best choice.

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14) What is Authorized Capital ?

The authorized capital of a company is the maximum amount of share capital that the company is authorized by its constitutional documents to issue to shareholders. It can be altered from time to time. __________________________________________________________________________________________________________________________________

15) What should be the minimum authorized capital for registering my company?

There is NO requirement of a minimum paid-up capital! You can start with any amount as you are comfortable with. __________________________________________________________________________________________________________________________________

16)What is the tax structure of an One Person Company?

An OPC is taxed at the corporate tax rate of 30%. __________________________________________________________________________________________________________________________________

17) What is Paid-Up Capital for registering my company?

Paid-Up Capital is the amount that has been received by shareholders who have completely paid for their purchased shares. This would not include any shares that have been bid on, but not yet purchased. __________________________________________________________________________________________________________________________________

18) Which city is best for registering company in India?

It will depend upon the nature of business you intend to pursue. However, after registering over hundreds of companies, it is our practical advice to keep note of few of many factors before registering your company in any city:

The local registrations that will be required to be obtained for the company after its registration.
Nature of your business and the demographic advantage that the city is expected to provide.

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19) Is it possible for two foreign nationals to register a company in India?

Yes, an Indian company can be incorporated with one or more foreign nationals as Directors. However, in private company wherein there are 2 directors and both of them are foreign nationals, one of them has to be a resident in India for a period of at least 182 days in the calendar year(as per Companies Act 2013). Also, wherein both the directors are foreign nationals, then disclosure has to be made whether 100 % FDI is allowed in the desired sector or not. However, foreign nationals cannot form an OPC in India. __________________________________________________________________________________________________________________________________

20) Can I, as an individual register a company solely on individual basis?

As per Companies Act, 2013, you can. The new Act provides for the concept of One Person Company, wherein an individual can start a company on individual basis. __________________________________________________________________________________________________________________________________

21) How to know if the desired name for the proposed company is available or not?

Before fixing on any name, one should always avail the public search of existing company/LLP name along with trademark search. More unique the name more is the chances of their quick reservation. __________________________________________________________________________________________________________________________________ 22) What is a DIN Number? DIN Number is a unique identification number allotted to the directors by the Government. For obtaining a DIN number, application is made to the Government in Form DIR-3 with requisite documents. The prescribed Government fees for obtaining one DIN are Rs.500. __________________________________________________________________________________________________________________________________

23) I already have a DIN number allotted to me. Do I need to obtain another one for the new company I wish to register?

No, DIN is a one-time formality. __________________________________________________________________________________________________________________________________

24) I already have a DIN and I wish to update my address in my DIN records.

The name, address, e-mail ID, phone number, residential status, all can be updated by making an application in Form DIR-6, along with requisite documents and declaration. There are no prescribed Government fees for the purpose. __________________________________________________________________________________________________________________________________

25) Is DIN and PAN connected?

Yes, the basic personal details, namely the name of the applicant, father’s name of the applicant and his/her Date of Birth are verified by the DIN authorities from the PAN database. __________________________________________________________________________________________________________________________________

26) Does Shareholders have to be directors as well?

There is no such compulsion as to the point that shareholders have to be directors as well. There can be a separate group of persons acting as directors and a separate group of persons acting as shareholders. Directors are the hands and brains of a company where as shareholders are the owners of the company. __________________________________________________________________________________________________________________________________

27) Can an existing company be director and shareholder in another company that is to be incorporated?

An existing company can be a shareholder in another company that is to be incorporated. For this purpose, a clear distinction has to be made as to whether the existing company is acting as a holding company or not. Also, the company will have to nominate a natural person to act as its representative. However, it cannot be a director in the same. __________________________________________________________________________________________________________________________________

28) What is the minimum qualification to act as a director in a private limited company?

There is no such prescribed qualification. __________________________________________________________________________________________________________________________________

29) What is DSC?

DSC is Digital Signature Certificate. DSC is required for at least one director for the purpose of Company Registration of a private company. It is required to file the forms electronically with the department. __________________________________________________________________________________________________________________________________

30) Can DSC be obtained by an NRI acting as a director?

Yes, DSC can be obtained by NRI acting as a director. __________________________________________________________________________________________________________________________________

31) Can the directors use their residential address as the registered office of the company?

For registered office address of the proposed company, directors can use their own residential address or their relative’s address or any address for which they can furnish valid documents as proof consisting of a No Objection Certificate from the respective owner. __________________________________________________________________________________________________________________________________

32) What is the duration of getting a private limited company registered?

The time limit to get a company registered is twenty-twenty five days provided all the valid documents are provided and uploaded with the department. __________________________________________________________________________________________________________________________________

33) When can a Bank Account for the company be opened?

Bank Account for the company can be opened after receipt of the Certificate of Incorporation and generation of PAN Acknowledgement. __________________________________________________________________________________________________________________________________

34) What is the validity of a name once reserved?

A name once reserved by filing Form INC-1 is valid for a period of sixty (60) days from the date of the filing of the name approval form. However, RoC has the power to revoke the granted name at any time, after giving due notice to be heard. __________________________________________________________________________________________________________________________________

35) Difference between rejection and resubmission.

When a particular form comes for resubmission, then the same can be submitted again vide the same SRN number. Its like chances that are given by the ROC to rectify the documents that are submitted without any additional Government fees. However, if the Forms get rejected then fresh filings for the same has to be done. __________________________________________________________________________________________________________________________________

36) Can a person residing in Kerala incorporate a company in Bangalore?

Yes. He can, provided he can furnish satisfactory documents as registered office address proof. __________________________________________________________________________________________________________________________________

37) Can same address be used as registered office address proof for two different companies?

Yes, it can be used but only after obtaining No Objection Certificate from the owner. __________________________________________________________________________________________________________________________________

38) What is the process to validate the documents for foreign nationals?

All the documents provided by foreign nationals, ranging from DIN declaration to subscriber’s sheets of the MOA and AOA either needs to be notarized by a notary public and subsequently apostilled OR notarized by a notary public and stamped by the Indian Consul of their respective countries. __________________________________________________________________________________________________________________________________

39) Mr. X, a director of a said company had used his residential property as registered office address. Will the property be treated as company’s property?

No. A company has a separate legal entity from its owners. Mere use of the owner’s property does not make establish ownership. Hence, the property will remain Mr.X’s. __________________________________________________________________________________________________________________________________

40) A company has a registered office in Bangalore. However, the directors wish to conduct the business from Kerala. Do they need to change their registered office?

No. There is no such compulsion. A company might have its registered office in one particular state and any number of corporate offices all over the country. __________________________________________________________________________________________________________________________________

41) Can a subsidiary of a foreign company be incorporated in India?

Yes. However, decision has to be made regarding the percentage of shares held by the holding company (foreign company) and the sector in which it is to be established since 100 % FDI is allowed only in selective sectors as of now. __________________________________________________________________________________________________________________________________

42) What are the additional requirements in case of subsidiary of a foreign company to be incorporated in India?

Apart from the usual notary and apostillation requirements, two Board Resolutions will have to be filed with the concerned ROC while filing Form INC-1 and Form INC-7, stating the resolutions that are held by the holding company with respect to its intention of forming a subsidiary company and stating the number of shares to be held by it, respectively. The same has to be notarized and apostilled. __________________________________________________________________________________________________________________________________

43) Shall a separate ID be created for the proposed company?

Its not a mandate. However, it is always advisable to formulate a separate ID for the company for the purpose of maintaining integrity and future confidentiality. __________________________________________________________________________________________________________________________________

44) Is just rent agreement considered a valid address proof for company registration?

No. For company registration, utility bill or tax receipt is mandatory. __________________________________________________________________________________________________________________________________

45) What is Memorandum of Association (MOA)?

MOA is the fundamental incorporation document. It defines the name and address of the registered office of the company. It also defines the main objects for which the company is formed. The activities of the company are bound by MOA and is likely to attract penalties if goes ultra-vires. __________________________________________________________________________________________________________________________________

46) What is Articles of Association (AOA)?

AOA is more of an internal document for the company. It defines the matters relating to conducting the business of the company, procedure and limitations of altering the structure of the company. __________________________________________________________________________________________________________________________________

47) How do I register my MOA and AOA with the Government?

MOA and AOA are registered with the Government at the time of incorporating the company. An application is made through e-form 1, in which the MOA and AOA are attached and applied for approval. The requisite stamp-duty is to be paid depending on the state-wise Stamping Rules and authorized capital of the company. __________________________________________________________________________________________________________________________________

48) What are the forms that are filed to register a company?

Application form for availability or change of a name e- Form INC-1 Application or declaration for incorporation of a company (other than OPC) e- Form INC-7 Application or declaration for incorporation of a company (OPC) e-Form INC-2 Notice of situation or change of situation of registered office e-Form INC – 22 __________________________________________________________________________________________________________________________________

49) I wish to register my Company as an educational institute for non-profit organizations. What are the additional requirements for that?

In this case, a license has to be obtained in Form 24A to operate as a non-profit making organization. The said license is to be obtained after name approval of the company and before filing the incorporation forms as stated above. __________________________________________________________________________________________________________________________________

50) I registered my company in Pune. However, in order to shift my operations, I wish to change my registered office to Bangalore. What is the process to do so?

It is a case of change in the jurisdiction of the RoC office. In case, company wants to shift the registered office from one state to another state, it needs to file following forms to give effect to such change. These forms are: 1) Form MGT-14 for filing of special resolution with the RoC. 2) File petition with CLB and intimate ROC in Form 61 3) Form 21 (Notice of the court or the company law board order) 4) Form INC-22 ( Notice of situation or change of situation of registered office) __________________________________________________________________________________________________________________________________

51) My company has been inoperative since it was registered. There has been no income and no expenses altogether. Do I still need to file the compliance forms with the department every year? Also, what are the compliance requirements for a company?

Yes. Although there have been no operations, the company has to still file the statement of accounts with the department every year. A company which has not filed its annual return for three consecutive years are considered in the strike off list of the department. Although the new Act has brought in the provisions enabling the company to operate as dormant, the said provisions are not yet applicable. __________________________________________________________________________________________________________________________________

52) I wish to incorporate an IT company with three foreign nationals and two Indian nationals. I want to safeguard my interests in the company with respect to equity. What can I do?

The best option is to formulate and implement a shareholding agreement with vesting and cliff period clause. __________________________________________________________________________________________________________________________________

53) Is Bank statement a valid address proof for obtaining DIN?

A latest bank statement duly attested by bank manager is considered as a valid address proof. __________________________________________________________________________________________________________________________________

54) What are the documents required for filing Form INC-7?

Following are the documents required for filing Form 1: Memorandum of Association (MOA) Articles of Association (AOA) Declaration from Promoters for Non-Acceptance of Deposits.
Declaration by a Practicing Professional that all the compliances pertaining to the Companies Act, 2013 has been complied with.
Declaration by the way of affidavits from the subscribers to the MOA & AOA.
Consent to Act as Directors. Any other optional attachment case-specific. Note: This list is not exclusive. __________________________________________________________________________________________________________________________________

55) What is the difference between incorporating a company in India and incorporating abroad?

In India, it does not matter in which city you are incorporating a company. Your company will be registered under the Central Government. There is one law and uniform applicability of its provisions nationwide. Unlike in foreign countries like US, wherein registration process and formalities are guided by state laws. __________________________________________________________________________________________________________________________________

56) Which address will be used while applying for the tax numbers of the company- the branch office or registered office?

The PAN and TAN numbers are to be applied using the registered office address proof while the address of the office from where the centralized billing is done is to be used for VAT and TIN numbers. __________________________________________________________________________________________________________________________________

57) I have already trade-marked the name “Abode” for my company. But Registrar of Companies has rejected the name and asked us to file new names. I want “Abode” as my brand name.What should I do?

Legal name of the entity and trademark registration are two different things. You may avail the registration for your private limited company with a different legal name and subsequently use the trade-mark on the desired name under the incorporated company with the different legal name. __________________________________________________________________________________________________________________________________

58) What is my liability if I am appointed as a director in the registered company?

A director is the hand and brain of a company. A directors bears liability towards the company and third-parties. A director is answerable for breach of warranty and acts for his co-directors. __________________________________________________________________________________________________________________________________

59) What are the things one should keep in mind while obtaining name for registering a company?

There are a lot of things that one should keep in mind before obtaining name for registering a company. The most important being “the choice of an unique name”. To explain this, the name should not be too identical to any existing Company Name or a registered trade-mark. __________________________________________________________________________________________________________________________________

60) Which documents are considered as a valid address proof for registered office of a Company which is an owned property?

Tax Receipt.
Electric Bill (duly attested by professional).
Telephone Bill (only BSNL/MTNL or such nationalized telecom company).
Possession Letter.
Registered Property Ownership Deed.
Sale Deed.

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61) Which documents are considered as a valid address proof for registered office of a Company which is an rented property?

Tax Receipt.
Electric Bill (duly attested by professional).
No Objection Certificate from Owner.

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62) Can I attach my bank statement as an address proof for the registered office my Company?

You can only provide a bank statement which is of a nationalized bank, like SBI, after getting it attested by the bank manager. __________________________________________________________________________________________________________________________________

63) I am an Australian citizen, but resident in India. I want to apply for my DIN without my Australian address. I only have an Overseas Citizen of India (OCI) card. What will be my status while filing for DIN?

An OCI Card is equivalent to citizenship in India. Hence, if you do not want your Australian address to be put while applying in DIN, you can apply as a citizen of India, by virtue of the OCI Card. __________________________________________________________________________________________________________________________________

64) Who allots DIN?

Central Government (Office of Regional Director (Northern Region), Ministry of Corporate Affairs) will allot the DIN. __________________________________________________________________________________________________________________________________

65) What are the additional requirements for DIN of a foreign national?

All documents (including photo) shall be certified by the Indian Embassy or a notary in the respective country of the individual. __________________________________________________________________________________________________________________________________

66) What is the validity of a DIN ? Do we need to renew it?

DIN Number is a one time formality. It has a life-time validity. There is no requirement to renew it. __________________________________________________________________________________________________________________________________

67) Whether Provisional DIN can be used for e-filing?

No. Only an approved DIN can be used for e-filing. __________________________________________________________________________________________________________________________________

68) Can I introduce my wife as the second director of my Company?

Yes. You can introduce your wife or any other family member as the second director. __________________________________________________________________________________________________________________________________

69) I reside in Kerala. Can I opt for your services?

Definitely. The entire process of incorporation is managed electronically. Moreover, as per our service terms, complete confidentiality is assured with respect to the documents sent electronically. __________________________________________________________________________________________________________________________________

70) We applied for the name availability of a company. The spelling has been mis-spelled and the mis-spelled name is approved. Is there any way to change it since we do not want to continue with the wrong name?

You can apply for the name freshly along with an application to the concerned ROC, stating the grounds for applying for the fresh name. You can also provide the copy of the Letter of Correspondence of Name Approval along with the application. Alternatively, you can incorporate the company with the mis-spelled name and then apply for a change of the name of the company. __________________________________________________________________________________________________________________________________

71) Can an OCI Card holder be appointed as a director in a company? Can salary be paid to him?

Yes, an OCI Card holder can be appointed as a director in a company. Salary can also be paid to him and the salary will be taxable in India. __________________________________________________________________________________________________________________________________

72) What should be the minimum number of employees with which I should register my company?

There is no restriction on minimum number of employees. A company can be incorporated even with zero employee. __________________________________________________________________________________________________________________________________

73) I wish to register a company in pharmaceuticals. Is there any additional requirement for that?

You may need a license under the Food and Drug Administration Act. __________________________________________________________________________________________________________________________________

74) Can I register a company with software development, real estate and sales and marketing as the main objects?

The main objects of the company has to be absolute and not varied. Hence, you cannot register your company with all the above activities as main objects as they are not related to each other. __________________________________________________________________________________________________________________________________

75) I want to start a company with a specific word in its name. In future, I want to start more companies under the group, containing the same common words. Am I allowed to do so?

Yes. In case the future companies are not subsidiaries of the mother company, you will need a No Objection Certificate for incorporating the new companies. __________________________________________________________________________________________________________________________________

76) I am trying to check the availability of name for my company. But when I am entering the name, a blank box appears which says “undefined”. What am I doing wrong?

You are not doing any thing wrong. After entering the desired name, if the message displays “no records found”, then it means that the name is available. In case it is showing “undefined”, then it is due to some technical errors on the website. Please try again after some time. __________________________________________________________________________________________________________________________________

77) I have applied for the DIN of a company. Is my personal details accessible to the public? I do not want to share my personal contact numbers and e-mail IDs with the general public at large.

The personal details, namely the contact number and e-mail IDs that are entered in the DIN Form are only for the record purpose of the DIN department. They are not available for general display. The general public can only access the information related to your name, father’s name, date of birth, address and DIN number. __________________________________________________________________________________________________________________________________

78) What is CIN Number? Where can I find it?

CIN number means Corporate Identification Number. It is like the identity number of the company. You can find it in the Certificate of incorporation of the company. __________________________________________________________________________________________________________________________________

79) In what form should I send you all the documents for registering a company? Do I need to send you the hard-copies of the documents via courier?

Just like the MCA, all our services are managed electronically. Hence, you can attach the document as a PDF, GIF, JPG, BMP, PNG or TIF. Moreover, you do not need to send us any hard copies. __________________________________________________________________________________________________________________________________

80)Am I registering my company under new act or old act?

You are registering your company in transition between the new Act and the old Act. This is owing to the fact that the new Act is not wholly implemented yet. 98 sections of the Act has been notified by the Department. __________________________________________________________________________________________________________________________________

81) Is there a minimum and maximum age for being Director of a Company?

There is no maximum age for being a director in a company. However, the minimum age is 18 years. __________________________________________________________________________________________________________________________________

82) Why should I get my logo trademarked?

For the simple reason of protecting it. Once you trademark your logo, no one else will be able to use it. It also provides for other benefits in the form of creation of brand equity and identity.

Topic of the page:

FAQ ON COMPANY REGISTRATION IN PATNA-COMPANY REGISTRATION RANCHI-COMPANY REGISTRATION PROCEDURES IN PATNA-RANCHI-FREQUENTLY ASKED QUESTIONS

Article written and compiled by: ACS Prince Kunal

September 5, 2015 By Prince Kunal

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Use Alexa rankings, it allows you to review related websites and see how they are performing.
Create a Long Term Plan for inbound link generation, so that you can get benefits for a long time.
Consistency the Page name, Content, Keywords on the page and titles and Descriptions should all match, it will give you a long lasting and earlier results.
Submit your website/business website to your local chamber of commerce/directories and get a link from there, this top seo tip for beginners will be me more valuable for your local business.
Optimize the webpage for the targeted keyword before starting the Search Engine Optimization for the page, the keyword density should be 5-6% of the targeted keyword. So, that the page get a good ranking automatically and the rest can be gain with the Backlinks.
Post the link of your article or content of your webpage on social media platforms, and let others to engage in it to comment/re-comment, share their views on them etc!! etc!!. Also Read : Link Building Strategies
Its worth for spending time researching your competitors website, look what works for them and make your plan according to that – one of the best seo tip for the beginners.
Publish an informative and interesting keyword rich press releases.
View and comment on related bogs and link to your website in your signature.
Include a sitemap, XML Sitemap and if applicable an XML Image Sitemap so that the search engines can find every page.
Use keywords in anchor text for inbound links, anchor texts like CLICK HERE is not ideal.Include Towns and Cities within your meta tags if you are optimizing your website for local business.
Submit your websites in the directories like DMOZ directory and Google Directory
Just after your website is on the web, check to see if your server is not black listed using these sites… MX Toolbox , Black List Checker because if you are hosted with a blacklist server, then your e-mail marketing will get effected and all the mails will go to spams.
Remember users will not come to your home page, to navigate for another page, so make your website’s navigation as easy as possible. So, that the user can go anywhere from any page.
The Images on the pages must include proper keyword instead of using an image name like this :- IMG1245.jpeg.
Optimize the images and make them lighter, so that your website’s loading time can be decrease.
Use RSS (Rich Site Summary) feeds for all of your blogs and articles and new systems, so that your readers can get new updates from your side.Use systems such as Ping – O – Matic to publish your articles and blogs around the web.Use user friendly URL, by using Dashes ( – ) not Underscores ( _ ) to separate the words.
Content is the King, you know guys you can rank a page easily without doing any Search Engine Optimization for it, all you need is to have quality content with targeted keywords in it.
Use Facebook, Twitter, Linkedin and other Social Networking sites are a great way to gain more traffic for your website or blog.
Its a good practice if your website can be solely navigable only with the text lines, i mean here is that avoid search boxes because they can cause duplication of the pages.
Use H1, H2 and H3 tags for what they are meant for, and try to include your competitive keywords with in them. Can be very good practice in the way for your webpage ranking.
Submit your website to business directories, and research into niche directories. Again a very smart way for the ranking of your website.
Each page needs its own unique keyword strategy, and reflected an all aspects of the page.
Add a Wikipedia article for your website, regarding your firm or anything which is popular basically? Yeahh.. i know its difficult to get a direct link from there, but you can link from sites that it links to. What Say!!! , interesting yaaa!!!”
Try to have only one H1 tag in a page unless there is a lot of content.
If you are using a shared web hosting, ensure that there are no dubious sites on the server you are using.Are you just hanging around the Google Analytics, then i would suggest you to look up for a professional Analytic as this tool is very comprehensive.
Use Google places and Yahoo Local Listings, so that the traffic can be generated by itself.
Never use link farms, it can cause you more harm than reciprocal links but it’s great if you are using inbound links.
Your title is the first ever thing that displayed in the Search Engine Results, make sure to use a catchy and attractive title with the keywords. Basically, make sure it appeals to viewers.
Use Google Analytics to see how your website is performing and the user engagement as well.
Do not copy content for your website from other websites and make sure the content is unique for your website. Otherwise it can cause Panda Penalty.
Can you offer referrals or have a competition to encourage others to link to or have a testimonial for your website?.
Use passwords until it necessary to use, remember crawlers cannot see within password protected areas of your websites.
Use Meta tags on on page SEO, while promoting the website for local business, you can check out some important Meta tags here.
Don’t just stuck between the classifieds, business listings, web 2.0’s, Guest Blogging etc. etc.
Try to innovate your own new ideas and thoughts, which you think can be worth after applying.

Topic of the page:

Best 50 SEO TIPS For Beginners

Article written and compiled by: ACS Prince Kunal

September 3, 2015 By Prince Kunal

BOARD RESOLUTION FOR OPENING NEW CURRENT ACCOUNT OF TRUST/NGO/SOCIETY

Meerad Social Welfare Trust

Regd. Office. : Milan Lane, Behind SBI Brnach, Kankarbagh Main Road, Patna- 800020, Bihar

_______________________________________________________________________
Extracts from the Minutes of the proceedings of meeting of the Board of Trustees of MEERAD SOCIAL WELFARE TRUST held at its registered office Milan Lane, Behind SBI Brnach, Kankarbagh Main Road, Patna- 800020, Bihar on 2^nd August, 2015 at 11.00AM.

AGREEMENT

The chairperson informed the meeting that the trust needs to have one Bank Account for carrying out its business effectively. The meeting discussed the matter and it was then unanimously:

RESOLVED

THAT a current account in the name of the Trust be opened with HDFC Bank. Patna City Branch and that Mr. Prince Kunal, Chairman Cum Trustees of the Trust be authorised to do so and sign for and on behalf of the trust the necessary forms and documents, including account opening forms and any other forms, if necessary

FURTHER THAT, Mr. Prince Kunal, Chairman Cum Trustees of the Trust be and is hereby appointed as the authorised signatory on behalf of the Trust in respect of opening and all operations of the aforesaid account and in this connection is authorised to sign and execute jointly on behalf of the Trust all Cheque (s), notes, bills and other negotiable instruments and take all steps as may be deemed necessary and expedient for the operation of the said account.

FURTHER THAT the bank be furnished with the copy of Trust Deed of the Trust.

CERTIFIED TO BE TRUE COPY

FOR & BEHALF OF BOARD OF TRUSTEES

MEERAD SOCIAL WELFARE TRUST

(CHAIRMAN )

Topic of the Article: BOARD RESOLUTION FOR OPENING NEW CURRENT ACCOUNT OF TRUST/NGO/SOCIETY

Article written by: ACS Prince Kunal
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September 3, 2015 By Prince Kunal

BOARD RESOLUTION FOR OPENING NEW CURRENT ACCOUNT OF TRUST/NGO/SOCIETY

Meerad Social Welfare Trust

Regd. Office. : Milan Lane, Behind SBI Brnach, Kankarbagh Main Road, Patna- 800020, Bihar

AGREEMENT

The chairperson informed the meeting that the trust needs to have one Bank Account for carrying out its business effectively. The meeting discussed the matter and it was then unanimously:

RESOLVED

THAT a current account in the name of the Trust be opened with HDFC Bank. Patna City Branch and that Mr. Prince Kunal, Chairman Cum Trustees of the Trust be authorised to do so and sign for and on behalf of the trust the necessary forms and documents, including account opening forms and any other forms, if necessary

FURTHER THAT, Mr. Prince Kunal, Chairman Cum Trustees of the Trust be and is hereby appointed as the authorised signatory on behalf of the Trust in respect of opening and all operations of the aforesaid account and in this connection is authorised to sign and execute jointly on behalf of the Trust all Cheque (s), notes, bills and other negotiable instruments and take all steps as may be deemed necessary and expedient for the operation of the said account.

FURTHER THAT the bank be furnished with the copy of Trust Deed of the Trust.

CERTIFIED TO BE TRUE COPY

FOR & BEHALF OF BOARD OF TRUSTEES

MEERAD SOCIAL WELFARE TRUST

(CHAIRMAN )

Topic of the Article: BOARD RESOLUTION FOR OPENING NEW CURRENT ACCOUNT OF TRUST/NGO/SOCIETY

August 27, 2015 By Prince Kunal

SET OFF AND CARRY FORWARD OF LOSS UNDER THE INCOME-TAX ACT | Meaning of intra-head adjustment | Meaning of inter-head adjustment

Loss from exempted source of income cannot be adjusted against taxable income If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax. E.g., Agricultural income is exempt from tax, hence, if the taxpayer incurs loss from agricultural activity, then such loss cannot be adjusted against any other taxable income.

Meaning of intra-head adjustment

If in any year the taxpayer has incurred loss from any source under a particular head of income, then he is allowed to adjust such loss against income from any other source falling under the same head. The process of adjustment of loss from a source under a particular head of income against income from other source under the same head of income is called intra-head adjustment, e.g. Adjustment of loss from business A against profit from business

B. Restrictions to be kept in mind while making intra-head adjustment of loss Following restrictions should be kept in mind before making intra-head adjustment of loss:

1) Loss from speculative business cannot be set off against any income other than income from speculative business. However, non-speculative business loss can be set off against income from speculative business.

2) Long-term capital loss cannot be set off against any income other than income from long-term capital gain. However, short-term capital loss can be set off against long-term or short-term capital gain.

3) No loss can be set off against income from winnings from lotteries, crossword puzzles, race including horse race, card game, and any other game of any sort or from gambling or betting of any form or nature.

4) Loss from the business of owning and maintaining race horses cannot be set off against any income other than income from the business of owning and maintaining race horses.

5) Loss from business specified under section 35AD cannot be set off against any other income except income from specified business (section 35AD is applicable in respect of certain specified businesses like setting up a cold chain facility, setting up and operating warehousing facility for storage of agricultural produce, developing and building a housing projects, etc.).

Meaning of inter-head adjustment

After making intra-head adjustment (if any) the next step is to make inter-head adjustment. If in any year, the taxpayer has incurred loss under one head of income and is having income under other head of income, then he can adjust the loss from one head [As amended by Finance Act, 2015] against income from other head, E.g., Loss under the head of house property to be adjusted against salary income. Restrictions to be kept in mind while making inter-head adjustment of loss Following restrictions should be kept in mind before making inter-head adjustment:

1) Before making inter-head adjustment, the taxpayer has to first make intra-head adjustment.

2) Loss from speculative business cannot be set off against any other income. However, non-speculative business loss can be set off against income from speculative business.

3) Loss under head “Capital gains” cannot be set off against income under other heads of income.

4) No loss can be set off against income from winnings from lotteries, crossword puzzles, race including horse race, card game, and any other game of any sort or from gambling or betting of any form or nature.

5) Loss from the business of owning and maintaining race horses cannot be set off against any other income.

6) Loss from business specified under section 35AD cannot be set off against any other income (section 35AD is applicable in respect of certain specified businesses like setting up a cold chain facility, setting up and operating warehousing facility for storage of agricultural produce, developing and building housing projects, etc.)

7) Loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”. Carry forward of unadjusted loss for adjustment in next year Many times it may happen that after making intra-head and inter-head adjustments, still the loss remains unadjusted. Such unadjusted loss can be carried forward to next year for adjustment against subsequent year(s)’ income. Separate provisions have been framed under the Income-tax Law for carry forward of loss under different heads of income. Provisions under the Income-tax law in relation to carry forward and set off of business loss other than loss from speculative business If loss of any business/profession (other than speculative business) cannot be fully adjusted in the year in which it is incurred, then the unadjusted loss can be carried forward for making adjustment in the next year. In the subsequent year(s) such loss can be adjusted only against income charged to tax under the head “Profits and gains of business or profession” Loss under the head “Profits and gains of business or profession” can be carried forward only if the return of income/loss of the year in which loss is incurred is furnished on or before the due date of furnishing the return, as prescribed under section 139(1). Such loss can be carried forward for eight years immediately succeeding the year in which the loss is incurred.

[As amended by Finance Act, 2015]
Above provisions are not applicable in case of unabsorbed depreciation (provisions relating to unabsorbed depreciation are discussed later) Loss from business specified under section 35AD cannot be set off against any other income except income from specified business (section 35AD is applicable in respect of certain specified businesses like setting up a cold chain facility, setting up and operating warehousing facility for storage of agricultural produce, developing and building a housing projects, etc.). Such loss can be carried forward for adjustment against income from specified business for any number of years. Loss from the business of owning and maintaining race horses cannot be set off against any income other than income from the business of owning and maintaining race horses. Such loss can be carried forward only for a period of 4 years. If loss of any speculative business cannot be fully adjusted in the year in which it is incurred, then the unadjusted loss can be carried forward for making adjustment in the next year. In the subsequent year(s) such loss can be adjusted only against income from speculative business (may be same or any other speculative business). Loss from speculative business can be carried forward only if the return of income/loss of the year in which loss is incurred is furnished on or before the due date of furnishing the return, as prescribed under section 139(1). Such loss can be carried forward for four years immediately succeeding the year in which the loss is incurred. Above provisions are not applicable in case of unabsorbed depreciation of speculative business (provisions relating to unabsorbed depreciation are discussed later). Provisions under the Income-tax Law in relation to carry forward and set off of house property loss If loss under the head “Income from house property” cannot be fully adjusted in the year in which such loss is incurred, then unadjusted loss can be carried forward to next year. In the subsequent years(s) such loss can be adjusted only against income chargeable to tax under the head “Income from house property”. Such loss can be carried forward for eight years immediately succeeding the year in which the loss is incurred. Loss under the head “Income from house property” can be carried forward even if the return of income/loss of the year in which loss is incurred is not furnished on or before the due date of furnishing the return, as prescribed under section 139(1). Provisions under the Income-tax law in relation to carry forward and set off of capital loss If loss under the head “Capital gains” incurred during a year cannot be adjusted in the same year, then unadjusted capital loss can be carried forward to next year.

[As amended by Finance Act, 2015]
In the subsequent year(s), such loss can be adjusted only against income chargeable to tax under the head “Capital gains”, however, long-term capital loss can be adjusted only against long-term capital gains. Short-term capital loss can be adjusted against long-term capital gains as well as short-term capital gains. Such loss can be carried forward for eight years immediately succeeding the year in which the loss is incurred. Such loss can be can carried forward only if the return of income/loss of the year in which loss is incurred is furnished on or before the due date of furnishing the return, as prescribed under section 139(1). Meaning of unabsorbed depreciation, unabsorbed capital expenditure on scientific research and unabsorbed capital expenditure on promoting family planning amongst the employees Apart from several other deductions, while computing income chargeable to tax under the head “Profits and gains of business or profession” a person is allowed to claim deduction on account for depreciation, capital expenditure incurred by him on scientific research and capital expenditure incurred by a company for promoting family planning amongst its employees. If the income of the year in which these expenses are incurred falls short of these expenses, then the unabsorbed expenses can be carried forward to next year in the form of unabsorbed depreciation or unabsorbed capital expenditure on scientific research or unabsorbed capital expenditure on promoting family planning amongst the employees. Illustration for better understanding Business income (computed as per the provisions of Income-tax Law) of Mr. Kiran before allowing deduction on account of depreciation amounted to Rs. 84,000. Depreciation as per the provisions of section 32 amounted to Rs. 1,00,000. What will be the amount of unabsorbed depreciation in this case? ** It can be observed that business income before claiming deduction under section 32 on account of depreciation is Rs. 84,000 and depreciation allowable as per section 32 is Rs. 1,00,000, hence, after claiming deduction on account of depreciation of Rs. 1,00,000, there will be a loss of Rs. 16,000. This loss is on account of depreciation and, hence, loss of Rs 16,000 will be termed as unabsorbed depreciation. Provisions under the Income-tax Law relating to set off of unabsorbed depreciation, unabsorbed capital expenditure on scientific research and unabsorbed capital expenditure on promoting family planning amongst the employees Depreciation is first deducted from the income chargeable to tax under the head “Profits and gains of business or profession”. If such depreciation could not be fully adjusted against such income chargeable to tax in that previous year, the unabsorbed portion shall [As amended by Finance Act, 2015] be added to the amount of depreciation for the following year and shall be deemed to be the part of depreciation for that year(similar treatment would be given to other allowances as mentioned above).

However, in the case of set off, following order of priority is to be followed:

1) First adjustments are to be made for current scientific research expenditure, family planning expenditure and current depreciation.

2) Second adjustment is to be made for brought forward business loss.

3) Third adjustments are to be made for unabsorbed depreciation, unabsorbed capital expenditure on scientific research or on family planning.

Carry forward of loss in case of change in the constitution of business Generally, the person incurring the loss is only entitled to carry forward the loss to be adjusted in subsequent year(s). However, in certain cases of reconstitution of the business like amalgamation, demerger, conversion of proprietary firm into company or conversion of partnership firm into company, etc., the reconstituted entity is entitled to carry forward the unadjusted loss of predecessor entity (provided that conditions specified in this regard are satisfied). Provisions relating to carry forward of loss in case of retirement of a partner from a partnership firm Section 78 contains provisions relating to carry forward and set off of loss in case of change in constitution of a partnership firm due to death or retirement of a partner (i.e. when a partner goes out of firm by retirement or death). In such a case, the share of loss attributable to the outgoing partner cannot be carried forward by the firm. Restriction of section 78 is applicable only in case of loss and is not applicable in case of adjustment of unabsorbed depreciation, unabsorbed capital expenditure on scientific research or family planning expenditure.

Special provisions relating to carry forward and set off of loss in case of a company in which public are not substantially interested

As per section 79 of the Income-tax Act, where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested, no loss incurred in any year prior to the previous year shall be carried forward and set off against the income of the previous year unless- On the last day of the previous year the shares of the company carrying not less than fifty-one per cent of the voting power were beneficially held by person who beneficially held shares of the company carrying not less than fifty-one per cent of the voting power on the last day of the year or years in which the loss was incurred. Restriction of section 79 is applicable only in case of loss and is not applicable in case of adjustment of unabsorbed depreciation, unabsorbed capital expenditure on scientific research or family planning expenditure. Further, the provisions of section 79 are not applicable in case of change in share holding on account of death of shareholder or on account of transfer of shares by way of gift to [As amended by Finance Act, 2015] any relative of the shareholder or change in shareholding in case of an Indian company which is a subsidiary of foreign company, when such foreign company is amalgamated/demerged with another foreign company and 51% or more shareholders of the amalgamating/demerged foreign company continues to be the shareholders of the amalgamated/resulting foreign company.

[As amended by Finance Act, 2015]
MCQ ON SET OFF AND CARRY FORWARD OF LOSS UNDER THE INCOME-TAX LAW

Q1.If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax.

(a) True (b) False

Correct answer : (a) Justification of correct answer : If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax. Thus, the statement given in the question is true and hence, option (a) is the correct option.

Q2.The process of adjustment of loss from a source under a particular head of income against income from other source under the same head of income is called __________.

(a) Inter-head adjustment (b) Intra-head adjustment (c) Carry forward of loss (d) Clubbing of income

Correct answer : (b) Justification of correct answer: The process of adjustment of loss from a source under a particular head of income against income from other source under the same head of income is called intra-head adjustment. Thus, option (b) is the correct option.

Q3.While making intra-head adjustment of loss, short-term capital loss cannot be set off against long-term capital gain.

(a)True (b) False

Correct answer : (b) Justification of correct answer : While making intra-head adjustment of loss, short-term capital loss can be set off against short-term capital gain as well as against long-term capital gain. Thus, the statement given in the question is false and hence, option (b) is the correct option.

Q4.While making intra-head adjustment,loss from the business of owning and maintaining race horses can be set off against ____________ only.

(a) Income from winnings from lotteries (b) Income from crossword puzzles (c) Income from business of owning and maintaining race horses (d) Income from card game

Correct answer : (c) [As amended by Finance Act, 2015] Justification of correct answer : Loss from the business of owning and maintaining race horses cannot be set off against any income other than income from the business of owning and maintaining race horses. Thus, option (c) is the correct option.

Q5.While making inter-head adjustment of loss, loss from business and profession cannot be set off against income chargeable to tax under the head “Salaries”.

(a) True (b) False

Correct answer : (a) Justification of correct answer : While making inter-head adjustment of loss, loss from business and profession (including unabsorbed depreciation) cannot be set off against income chargeable to tax under the head “Salaries”. Thus, the statement given in the question is true and hence, option (a) is the correct option.

Q6.Loss under the head “Profits and gains of business or profession” can be carried forward even if the return of income/loss of the year in which loss is incurred is not furnished on or before the due date of furnishing the return, as prescribed under section 139(1).

(a) True (b)False

Correct answer : (b) Justification of correct answer : Loss under the head “Profits and gains of business or profession” can be carried forward only if the return of income/loss of the year in which loss is incurred is furnished on or before the due date of furnishing the return, as prescribed under section 139(1). Thus, the statement given in the question is false and hence, option (b) is the correct option.

Q7.If loss under the head “Income from house property” cannot be fully adjusted in the year in which such loss is incurred, then unadjusted loss can be carried forward for ___________ years immediately succeeding the year in which the loss is incurred.

(a) 2 (b) 5 (c) 8 (d) 10

Correct answer : (c) Justification of correct answer : If loss under the head “Income from house property” cannot be fully adjusted in the year in which such loss is incurred, then unadjusted loss can be carried forward for 8 years immediately succeeding the year in which the loss is incurred. Thus, option (c) is the correct option.

[As amended by Finance Act, 2015]
Comment on incorrect answer :Option (c) is the correct option since it gives the correct number of years, all the other options, viz., option (a), (b) and (d) giving incorrect number of years are not correct.

Q8.Restriction of section 78 is applicable only in case of loss and is not applicable in case of adjustment of unabsorbed depreciation, unabsorbed capital expenditure on scientific research or family planning expenditure.

(a) True (b) False

Correct answer : (a) Justification of correct answer : Section 78 contains provisions relating to carry forward and set off of loss in case of change in constitution of a partnership firm due to death or retirement of a partner (i.e. when a partner goes out of firm by retirement or death). In such a case, the share of loss attributable to the outgoing partner cannot be carried forward by the firm. Restriction of section 78 is applicable only in case of loss and is not applicable in case of adjustment of unabsorbed depreciation, unabsorbed capital expenditure on scientific research or family planning expenditure. Thus, the statement given in the question is true and hence, option (a) is the correct option.

Q9.In case of a closely held company, if the person beneficially holding ________ of the voting power as on the last day (i.e. 31st March) of the year in which the loss was incurred and on the last day (i.e. 31st March) of the year in which the company wants to set off the brought forward loss are different, then the company cannot set off such brought forward loss.

(a) 20% (b) 25% (c) 50% (d) 51%

Correct answer : (d) Justification of correct answer : In case of a company in which public are not substantially interested (i.e., closely held company), if the person beneficially holding 51% of the voting power as on the last day (i.e. 31st March) of the year in which the loss was incurred and on the last day (i.e. 31st March) of the year in which the company wants to set off the brought forward loss are different, then the company cannot set off such brought forward loss. Thus, option (d) is the correct option.

Topic of the article: SET OFF AND CARRY FORWARD OF LOSS UNDER THE INCOME-TAX ACT | Meaning of intra-head adjustment | Meaning of inter-head adjustmen.

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