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MCA eases norms for One Person Companies, lets NRIs in

MCA eases norms for One Person Companies, lets NRIs in
By
IANS
|
Published on
Wed, Feb 3 2021 22:06 IST
|
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New Delhi, Feb 3 : The Ministry for Corporate Affairs (MCA) has amended the rules to allow One Person Companies (OPC) to grow without any restrictions on paid up capital and turnover.
An official statement said that the amendment would allow their conversion into any other type of company at any time, reduce the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days and also allow Non-Resident Indians (NRIs) to incorporate OPCs in India.
According to the government, the move will directly benefit startups and innovators in the country, especially those who are supplying products and services on e-commerce platforms, and will bring in more unincorporated businesses into the organised corporate sector. ....

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India's 2021 Union Budget: Highlights for Foreign Investors

India's 2021 Union Budget: Highlights for Foreign Investors
india-briefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from india-briefing.com Daily Mail and Mail on Sunday newspapers.

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Union Budget 2021 | FM Sitharaman Announces 'bad Bank' To Clean Up Banks' Balance Sheets

The government will set up an Asset Reconstruction and Management Company to take over bad loans. ....

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Govt to incentivise incorporation of one-person companies (OPCs)

The government on Monday said it proposes to incentivise incorporation of one-person companies (OPCs).
Govt to incentivise incorporation of one-person companies (OPCs)
New Delhi: In a move that will benefit startups, the government on Monday said it proposes to incentivise incorporation of one-person companies (OPCs).
Finance Minister Nirmala Sitharaman said the incorporation of OPCs will be incentivised by allowing such companies to grow without restriction on paid-up capital and turnover, allowing conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days, and allow also non-resident Indians to incorporate OPCs in India ....

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Union Budget 2021: Sector wise highlights

Union Minister Nirmala Sitharaman today presented the Union Budget 2021. Here are the sector wise highlights of the Budget. ....

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