Dear Members,
As per Section 149(3) Every company shall have at least one director who stays in India for a total period of not less than one hundred and eighty-two days during the financial year:
Provided that in case of a newly incorporated company the requirement under this sub-section shall apply proportionately at the end of the financial year in which it is incorporated.]
and further as per Circular No 25/2014 dated 26th June, 2014 Companies incorporated after 30/09/2014 needs to have the resident director from the date of incorporation itself.
Suppose, Company was incorporated on 01.12.2019.
how to check the resident status of the first director in case of newly incorporated company?
Respected Members,
On which stamp duty need to be paid on face value or consideration price on issuance of share certificate in case of merger in state of Gujarat ?
Dear Member,
We are in process to merger of Company A & B. The Company A (Transferor Company) Hold 8.36 % in Company B(Transferee Company) and Company B (Transferee Company ) Hold 19.27% in Company A (Transferor Company).
Since the existence of Transferor Company do not exist , what shall be effect of the share holding of both Company in each other.
We being auditor of our client company, can we give the valuation report in case of merger of the clients Company. Whether this service is prohibited under section 144 of the companies Act, 2013.
Dear Members,
If Members of OPC died. Can nominee become the director cum member in the company. As there was only one director (who was member) in the company.?
If yes how to apply for DIN of the proposed director/nominee as the member is not in existence ??
What are the consequences in case a prescribed company does not spend two percent of its average net profits on CSR activities in pursuance of its CSR
Policy?
spend
does
company
case
consequences
has any one applied and got relief of compounding?
how does it work
can we get out wiith zero liability in case of genuine cases.
I see that even not filing annual return can allow Officials to levy 50000 penalty . what should we do if they levey 50k for one day delay of Annual return
also like not appointing auditor in 30 /90 days can attract 5 lakhs penalty..
please share if u have applied and gone through the process of compounding.
Hi,
A company had received an oral order from Regional Director asking to pay Rs 1,25,000 each for directors and the company. (consisting of 1 Indian and 2 foreign director) for violation of Section 96-98.
Payment in case of Company and 1 Indian director has been made.
But while making payment in case of 2 foreign directors, an error message is popping up.
Please advice on how to make the payment in such case.
Individual retirement is due on 31 jan 2020. GPF deduction from Apr 19 to Jan 20 is 160000/- Total GPF amount will be paid to the individual on 1 Feb 2020 as retirement due. Will he entitle to claim 150000/- GPF deduction under 80C for FY 2019-20.
Click here to view / answer Share it onretirement
case
rebate
Dear All members,
Please clarify how the other directors can appoint if existing directors are disqualified as amended in Rule 25A by Notification G.S.R. 793(E) dated 16.10.2019
II. in rule 25A,-
in sub-rule (1), in the fourth proviso, for the item (iii), the following shall be substituted, namely.-
“(iii) DIR-12 (changes in Director except in case of:
(a) cessation of any director or
(b) appointment of directors in such company where the total number of directors are less than the minimum number provided in clause (a) of sub-section (1) of section 149 on account of disqualification of all or any of the director under section 164.
(c) appointment of any director in such company where DINs of all or any its director(s) have been deactivated.
(d) appointment of director(s) for implementation of the order passed by the Court or Tribunal or Appellate Tribunal under the provisions of this Act or under the Insolvency and Bankruptcy Code, 2016).”.
disqualified
director
existing
case
appointment
Dear Members,
The scheme of Bonus issue has been approved by Shareholders and one of them is a Foreign Company for which FIRMS has to be filed ?
Please advice......
Bonus shares shall be issued out of capitalizing Security Premium Account.
Thanks in Advance....
Facing problem while preparing P&L account for the F&O Trader under tax audit. The turnover, in this case, is Profits + Losses + Premium on options if any. So if this is the turnover, then how to get to the net profit/loss in the P&L account? What will be the value taken for the purchase?
Click here to view / answer Share it on
