Hi All,
Who all are required to prepare consolidated financial statements?
statements
financial
consolidated
applicability
Hello Everyone!
Will sub-section (7) to section 186 be applicable for loans provided
by Holding Company to its Wholly Owned Subsidiary Company?
Whether a Holding Company can give loans to its WOS at a ‘nil‘ rate of
interest?
section
applicability
Hi Everyone!
Are the provisions of section 186 applicable to the employees of
the company ?
company
employees
section
applicability
Hello Folks,
Our company is a section 8 company on which CSR provisions get applicable as per section 135, this co. is to spend 2% of average net profits of preceeding 3 financial years,
now the company itself carries forward the projects mentioned in schedule VII and wants funding for that .
This company wishes other companies (not a section 8 co.) on whom CSR gets applicable to contribute to its such projects.
my question is whether our section 8 company is required to file both forms CSR-1 and CSR-2 or it will be sufficient if it files any one of them.
Keenly waiting for replies
Thank you
company
section
applicability
In Form CSR-2, we have to mention SRN of FY 2020-21 and Net worth, turnover & Profit before tax of FY 2019-20 which will automatically shows the criteria of applicability on the basis of figures of immediately preceding FY.
In such case, what will happen to Rule 3(2) which clearly says that “Every company which ceases to be a company covered under subsection (1) of section 135 of the Act for three consecutive financial years shall not be required to —(a) constitute a CSR Committee; and(b) comply with the provisions contained in 1[sub-section (2) to (6)] of the said section, till such time it meets the criteria specified in sub-section (1) of section 135.
For Instance Profit Before Tax for FY 2019-20 is less than 5 crore and all previous years are above 5 crore. Here subsection (1) of section 135 of the Act will still be applicable as per Rule 3(2) because the Profits are not below 5 crore for three consecutive financial years. That means we still have to follow provisions of sec 135 (1) and spend the amount.
But in Form CSR-2 when we mention Net worth, turnover & Profit before tax of FY 2019-20, there will not be any criteria for applicability. The form take details only for unspent of previous year and do not allows option to fill the details of previous three years. Which also means that company is not falling under 135(1) related to applicability and spending. However as per Rule 3(2) the company is still covered under 135(1) because the Profits are not below 5 crore for three consecutive financial years.
Please suggest that for the purpose of Form CSR-2, whether applicability/non-applicability is to be checked only on the basis on 135(1) i.e. only on the basis of immediately preceding financial year figures and we have to ignore rule 3(2). What will happen to Rule 3(2) thereafter?
applicability
applicabilitynon
whether
form
purpose
We had filed CSR Annexure in form AOC-4 for the financial year 2020-21 as the company’s Net profit was more then 5 Cr during 2017-18..
so do we need to file CSR-2 in such case also.
applicability
Dear Group Members
A private limited company made CSR expenditure during financial year 2019-2020 for first time as its net profit for FY 2018-2019 exceeded Rs. 5 Crores.
Later on the Company got to know that due to wrong calculation its profit was exceeding threshold and discontinued CSR expenditure from next year after making proper explanation in directors report.
Statement of P & L was like this:
Profit for the year 2.77 Crores
Add: Share of income from JV 4.16 Crores
(JV is an AOP with different PAN)
Profit for the year 6.93 Crores
The management is of opinion that since JV is an association of person with different PAN, the share of income from this JV, for which tax is already paid by JV, should not be added for calculating net profit under section 198.
Please advise is it in order?
applicability
Can anyone please clarify in which company its applicable and what will be the due date ?
eform
applicability
Dear All
Is BEN-2 applicable to Indian subsidiary of foreign holding co?
B Limited UK is holding 99% shares in B Limited India. Shareholder of B Limited UK is an individual. Whether BEN2 is applicable to B Limited India.
applicability
ben2
Dear All,
Please Help me to understand, in case of CFS is Applicable in FY 2013 -14 or previous that time AOC4 CFS was not there So in which form CFS Balance sheet require to file with ROC? Or its not applicable ?
applicability
consolidation
Dear Members,
Is section 73 applicable to NBFC. Can NBFC accept loans from third parties?
nbfc
applicability
section
Dear Sir / Madam,
Should we file DPT-3 for any borrowings from directors in case of all private limited companies on or before 30th June, irrespective of turnover.
Since audit is pending for previous financial year, shall we file with the last audited figures of the year ending 31st march 2020.
Kindly clarify asap.
companies
limited
private
applicability
