NIDHI COMPANY

Nidhi Company in India General restrictions Rule 6 provides general restrictions.   According to this Rule no Nidhi shall- Carry on the business of Chit Fund, Hire Purchase Finance, Leasing Finance, Insurance or Acquisition of Securities issued by anybody corporate;   Issue Preference Shares, Debentures or Any Other Debt Instrument by any name or in any form Read More →

Nidhi Company in India   What are the benefits of registering Nidhi Company in India? Advantages: There are several advantages of starting a Nidhi Company in India. We will have a look into some of these: ·         Limited RBI regulatory compliance Nidhi Companies need to incorporate themselves as Public Limited Companies with the MCA. And Read More →

Nidhi Company in India IPORTANT POINT: Dividend: A Nidhi shall not declare dividend exceeding 25%or Such higher amount as may be specifically approved by the Regional Director for reasons to be recorded in writing and further subject to the following conditions- An equal amount is transferred to General Reserve; There has been no default in Read More →

ACCOUNTING & TAXATION: Brief notes on Income from other sources Incomes which are charged to tax under the head ‘Income from other sources’ ‘Income from other sources’ is the residual head of income. Hence, any income which is not specifically taxed under any other head of income will be taxed under this head. Further, there Read More →