All about Company, taxation & ROC Compliances
Hello Everyone! Welcome to our last blog of the series forms of Business. In our earlier blog we have discussed Proprietorship, partnership and LLP. In this blog we will discuss the Company. So let's get started. What is a company? Company is the association of people who come together for a common business objective. Company has its own identity. In the eyes of law it is a separate legal entity which means a company can enter into an agreement on its own. The owners of the company are known as shareholders. Indian companies are governed by 'The Companies Act, 2013'. The shareholders hold shares of the company and in exchange of shares they give money to the company. This is one of the ways to raise funds. The company can raise funds through debt as well. In company the management and ownership lies with different people. As discussed, shareholders are the owners whereas directors are the people who are responsible for the management of the company. Types of companies