Regarding Sale Deed
Posted By :
mahimajain /
Published on :
10-Nov-2022 08:55 AM /
View :
386 /
Comment :
0
Hello Professionals
Peer Ltd. took over the running business of a Ramu, a sole proprietor by a sale deed. As per the sale deed, Peer Ltd. undertook to pay overriding charges of Rs. 15,000 p.a. to Ramu’s wife in addition to the sale consideration. The sale deed also specifically mentioned that the amount was charged on the net profits of Peer Ltd., who had accepted that obligation as a condition of purchase of the going concern. Examine, in the light of decided case law that whether the payment of overriding charges by Peer Ltd. is in the nature of diversion of income or application of income.
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Posted By : Mahima Jain /
Published on :
13-Jul-2023 04:41 AM /
View :
325 /
Comments : 0
Hello Everyone
If the company was incorporated in March 2023 in Canada by an Individual resident of India, due to non-approval of ODI, no remittance is yet made.
Please advise whether that resident individual needs to file his FLA due in July.
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Posted By : Mahima Jain /
Published on :
12-Jul-2023 05:10 AM /
View :
306 /
Comments : 0
Dear All,
If an entity has not received any inward FDI / made overseas investments in the latest FY, do they need to submit the FLA return?
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Posted By : Mahima Jain /
Published on :
07-Jul-2023 04:22 AM /
View :
273 /
Comments : 0
Hello Professional
Is a Section 8 company required to seek permission from Central
Government (“RD”) for alteration of its articles of association
prior to getting the same approved by the members by means of
special resolution in the general meeting?
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Posted By : Mahima Jain /
Published on :
30-Jun-2023 04:36 AM /
View :
292 /
Comments : 0
Hello Professionals
What do you mean by ‘Companies with charitable purpose’ (Section 8) under the Companies Act, 2013? What are the conditions for the issue & revocation of the license of such a company by the Government?
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Posted By : Mahima Jain /
Published on :
29-Jun-2023 06:23 AM /
View :
366 /
Comments : 0
Hello Professionals
In the case of an overseas subscriber and director, is the documents required to be notarised and apostilled for incorporation of a company?
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Posted By : Mahima Jain /
Published on :
28-Jun-2023 08:47 AM /
View :
314 /
Comments : 0
Hello Professionals
What are the minutes of a board meeting, and how should they be maintained?
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Posted By : Mahima Jain /
Published on :
24-Jun-2023 05:30 AM /
View :
294 /
Comments : 0
Hello Professionals
In the case of an overseas subscriber and director, are the documents required to be notarised and apostilled for incorporation of a company?
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Posted By : Mahima Jain /
Published on :
23-Jun-2023 05:06 AM /
View :
476 /
Comments : 1
Hello Professionals
In terms of Section 73 of the Companies Act, 2013 read with Rule 2(1)(c)(vii) of Companies (Terms and conditions of acceptance of Deposit) Rules, 2014, deposits do not include receipt of money from Director of the Company, but the money received from a member is treated as a deposit. In case the deposit is taken from a person who is both a director and a member of the Company, will such receipt of money be treated as a deposit or not?
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