When a firm pays tax early or has paid excess of tax and needs to get some money back from the tax authorities is termed as a deferred tax asset. The term is recorded in the balance sheet and is also known as a provision for future taxation.
Key points to be kept in mind while choosing the name for a company
Name of a company is what differentiates a company from others and it builds the image of the Company. For reservation of name, Form RUN is required to be filed with the Registrar of Companies (Registrar/ RoC).
In general, name of a company is divided into three parts:
[Trade Name] + [Object to be pursued by the Company on its incorporation] + [Limited/ Private Limited]
While choosing the name for a company, it is very essential that the person shall keep the following points in mind:
The name must not be identical with the name of an existing company or a Limited Liability Partnership (LLP);
The name must reflect the business activity of the company;
The name should not be offensive under any law;
The name should not be undesirable in the opinion of Central Government;
The proposed name should not be identical with the name of a company that has been dissolved for a period of two years from the date of such dissolution;
The proposed name should not be identical with the name of a company that has been struck off for a period of twenty years from the date of publication in the Official Gazette of the notice of being struck off;
The name shall not be identical with the name of a LLP in liquidation or the name of a LLP which is struck off up to a period of five years;
The name should be in line with the provisions of the Companies (Incorporation) Rules, 2014 [as amended from time to time]
For detailed provisions on reservation of name Click Here