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

Maternity benefit is the paid leave a woman worker gets. She takes it for a birth. The law sets the span of that leave. She then gets rest and care at home.

HR, Payroll & Labour Law

MCA

MCA means Ministry of Corporate Affairs. It runs the firm and LLP laws for you. You file your forms with it. It holds the public firm records.

Corporate Law

Minimum Wages

Minimum wages is the floor rate a firm must pay a worker. The central or state government sets it for listed jobs. You may pay more, but you may not pay less.

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

MSME means Micro, Small and Medium Enterprise. India sorts a firm into these three tiers by plant and by turnover. The MSMED Act, 2006 sets the test.

Compliance & Registrations