FinTax24

Glossary

Terms Starting with "M"

7 terms found

MAT

MAT is an extra tax for a company that would pay a small tax. It is set on the profit that your books show. You pay it under the Income Tax Act.

Income Tax

Maternity Benefit

A statutory benefit provided to women employees under the Maternity Benefit Act, 1961 (amended 2017), for absence from work during pregnancy and…

HR, Payroll & Labour Law

MCA

Ministry of Corporate Affairs — the central government ministry responsible for administering the Companies Act 2013, LLP Act 2008, and other…

Corporate Law

Minimum Wages

The minimum statutory wage rate that an employer must pay to a worker, notified by the central or state government for scheduled employments under…

HR, Payroll & Labour Law

MoA

The MoA is the base of a company in India. It sets the name, the objects and the capital. You give it to the ROC so you can set up a new company.

Company Law

MOA and AOA

MOA and AOA are the two rule books of a company. The MOA sets its scope. The AOA sets the rules inside. You sign both when you set up the firm.

Company Law

MSME

Micro, Small and Medium Enterprises — businesses classified by investment in plant and machinery and annual turnover, as per the MSMED Act, 2006.

Compliance & Registrations