A situation has arisen involving a public limited company's intention to purchase a policy for its directors. The agreement entails that the director will dedicate a minimum of 10 years to the company's service, during which the company will cover the policy premium. This expense will be reflected in the company's profit and loss statement as a legitimate deduction under the Income Tax Act.
Throughout the initial 10-year span, the company retains ownership of the policy. After this period, ownership transfers to the employee-director. Consequently, all policy benefits accrue to the employee.
In this context, my query pertains to the calculation of the director's remuneration. Specifically, should the payment of the policy premium be included as part of the director's overall compensation package?
Hi Folks!
Whether, any assets or liabilities for Indian party (i.e. domestic assets and liabilities) are to be included in the FLA return?
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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?
Hello Professionals
Does aggregate turnover include the value of inward supplies received on which RCM is payable?
Respected Member,
Let me know whether shareholding pattern includes equity capital plus Preference Capital or only Equity share Capital ?
Thanking you in Anticipation.
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Dear Respected Members,
A Company invested some amount in Partnership Firm.
I have two query in that regard.
1. Will that invested amount come within the calculation of Section 186?
2. Is there any violation under the Co. Act to invest amount in Partnership Firm?
In case the company has appointed personnel exclusively for implementing the CSR activities of the company, can the expenditure incurred towards such personnel in terms of staff cost etc. be included in the expenditure earmarked for CSR activities?
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In case the company has appointed personnel exclusively for implementing the CSR activities of the company, can the expenditure incurred towards such personnel in terms of staff cost etc. be included in the expenditure earmarked for CSR activities?
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