There were three foreign Directors in a Company who left in middle because of some conflicts with Indian Directors. There DINs are deactivated and therefore, the Company is not able to file Form DIR-12 for their removal from the records as the DINs will not get pre filled.
The are not ready to provide documents and OTP either to file the KYC. How can we remove them? Please help.
Will resignation of a partner from the LLP within one year of conversion from company to LLP will attract capital gain tax although the profit sharing of the remaining partner will be more than 50per cent??Click here to view / answer Share it on
Good Morning Members!
Kindly confirm me can we appoint a new director in a dormant company.
Is PAS-3 required to be filed every time in following situations where partly paid Equity Shares are issued:
1. On allotment of Shares?
2. On receipt of Call Money?
Please Tell me what are requirements we need for the Incorporation of Public Limited Company And Requirements and documentation for name Approval of Public Limited Company.
I have a query on CSR liability calculation.
To arrive at the Net profit for the purposes of calculation is the remuneration and bonus paid to directors is allowed as an expenses or it needs to be disallowed and added back to net profit??
As I understand the net profit as per section 198 is PBT and PBT is after allowing these expenses.
If a Company Net Profit Before Tax for the year 2018-19 exceeds 5 crores whereas Net Profit after Tax does not exceed 5 crores.
Whether CSR shall be applicable to such Company?
Can a Company file Form STK-2 without filing Form ACTIVE INC-22A?Click here to view / answer Share it on
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
Yes, as per the Companies Act, 2013 and the Buyback Regulations, it is mandatory for a company to attach the valuation certificate along with the SH-8 or SH-9 form while filing for the approval of a buyback. The valuation certificate must be obtained from a registered valuer, who is an independent professional with expertise in valuation.
The valuation certificate must contain a detailed analysis of the assets and liabilities of the company, the market value of the shares proposed to be bought back, and the fair price at which the buyback is being offered. The certificate must also include the method used for valuation and the assumptions made in arriving at the valuation.
The purpose of attaching the valuation certificate is to ensure that the buyback price offered by the company is fair and not prejudicial to the interests of the shareholders. The certificate helps in providing a transparent and objective basis for determining the buyback price, and helps in preventing any misappropriation of funds by the company or its management.
Therefore, it is mandatory for a company to attach the valuation certificate along with the SH-8 or SH-9 form while filing for the approval of a buyback.
if there are foreign shareholders taking part in the buyback, the company would need to file Form FC-TRS with the Reserve Bank of India (RBI) within 60 days of the receipt of funds in the prescribed format. Form FC-TRS stands for "Foreign Collaboration - Transfer of Shares". It is a mandatory form that needs to be filed with the RBI for any transfer of shares or securities by a person resident in India to a person resident outside India or vice versa.
In case of a buyback, the company needs to report the receipt of funds from the foreign shareholders through Form FC-TRS to the RBI. The form should contain details such as the name of the foreign shareholder, the amount of investment, and the mode of payment. The company also needs to provide a copy of the buyback contract to the RBI.
Non-compliance with the FC-TRS guidelines can result in penalties and fines from the RBI. Therefore, it is important for companies to ensure that they comply with the guidelines and file the necessary forms in a timely manner.