Year: 2025

“Secure Your Loved Ones: The Key Role of Claim Settlement Ratio in Life Insurance”. Life insurance is more than just a financial product – it’s a promise to protect the future of your loved ones in times of need. But before investing your hard-earned money, it’s essential to evaluate how effectively an insurer honours that […]

The Hierarchy of Courts in India: A Quick Overview. India’s judicial system is structured in a hierarchical manner to ensure that legal matters are addressed efficiently. At the foundational level, we have Lower or Subordinate Courts, which are divided into three categories. Civil Courts deal with disputes related to property, contracts, and personal matters. Sessions […]

Understanding Directive Principles of State Policy (DPSP) in India: A Guiding Light for Governance The Directive Principles of State Policy (DPSP), enshrined in Part IV of the Indian Constitution, serve as an essential guiding force for shaping the policies and governance of India. While non-justiciable (not enforceable by courts), these principles aim to create a […]

Process for Change in Name of LLP Section-19 of LLP Act- 2008, Rule-20 of LLP Rules-2009 The limited liability partnership may change its name by following the procedure as laid down in the limited liability partnership agreement. In case there is no clause in the limited liability partnership agreement relating to change in the name […]

Understanding Free Consent: A Cornerstone of Valid Contracts Section 10 of the Indian Contract Act, 1872 defines a contract as an agreement enforceable by law. One of the essential elements of a valid contract is free consent of the parties involved. Without free consent, an agreement cannot be considered a valid contract. Free Consent: Definition […]

Everything You Need to Know About the Updated Income Tax Return for Assessment Year 2024-25 As the deadline for filing Belated Income Tax Returns (ITR) ends, Still some taxpayers across India are facing challenges to file their returns for the assessment year 2024-25. An Updated Income Tax Return (ITR) is the solution for you designed […]

A Guide to Changing the Name of Your Private Limited Company Under the Companies Act, 2013 Prohibited under following circumstances: Rule 29(1): Change of name shall not be allowed to a company which has defaulted in filing its annual returns or Financial Statements or any document due for filing with the Registrar or which has […]

Understanding GST on the Sale of Old Cars in India The Goods and Services Tax (GST) framework in India has specific provisions for selling old and used cars. Recent updates have introduced changes impacting businesses and individuals involved in such transactions. GST Rates on Used Cars As of December 2024, the GST Council has standardized […]

Revolutionize Your Business Finances: How Corporate Genie’s Virtual CFO Services Drive Growth and Profitability Corporate Genie offers Virtual CFO services to support businesses in managing their financial operations and strategy without the need for a full-time, in-house CFO. This service is particularly beneficial for small and medium enterprises (SMEs), startups, and growing businesses that need […]

Understanding Section 2 of the Indian Contract Act, 1872 Contracts form the backbone of business and legal relationships. But have you ever wondered how the Indian Contract Act defines a contract? Let’s simplify Section 2 of the Indian Contract Act, 1872, with relatable examples:- 1. Proposal (Offer)-(Section 2(a) When one person expresses a willingness to […]