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?
Regarding the disclosure of outstanding unsecured loans from external parties other than Directors, promoters, and their relatives, for a private company that has held these loans for several years, could you please clarify the appropriate section in DPT-03 where these loans should be disclosed?
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Please share the key notes and Amendment for The Limited Liability Partnership (Amendment) Rules, 2022.
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rules
amendment
partnership
liability
limited
Can a company borrow funds from its directors or related parties?
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Can someone advise me to file INC 22. I click on link but am not getting anything. Site keeps me sending here and here. Do I need to make changes to my computer or use any particular browser. Please DM me.
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Please reply on my Query if any one can help :
What is the process for registering an LLP under the Companies Act?
What are the minimum and maximum numbers of partners required to form an LLP?
Can foreign nationals or entities be partners in an LLP?
Are there any restrictions on the business activities that can be undertaken by an LLP?
What documents are required for the registration of an LLP?
Is there a requirement for a registered office address for an LLP?
Are there any specific qualifications or eligibility criteria for becoming a partner in an LLP?
What is the procedure for changing the partners or adding new partners to an existing LLP?
Are LLPs required to maintain any statutory records or books of accounts?
What are the annual compliance requirements for an LLP?
Is it possible to convert an existing partnership firm into an LLP?
What are the advantages of registering a business as an LLP compared to a private limited company?
Are LLPs required to pay any specific taxes or comply with any tax-related obligations?
How long does it typically take to register an LLP under the Companies Act?
What is the role and responsibility of a designated partner in an LLP?
under
companies
partnership
liability
limited
registration
What specific provisions of the Limited Liability Partnership Act, 2008, and the Limited Liability Partnership Rules, 2009, are being referred for application of DIN for any DP ?
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Dear All,
If a person have only surname, then how to fill the same in SPICE PART B
part
spice
subscriber
name
Dear All,
If a person does not have surname, then how to fill the name in SPICE Part B
part
spice
subscriber
name
Hi Folks!
Can Peer Review be done by proprietor / partner of the Practice Unit peer reviewed by the Reviewer?
partner
proprietor
review
peer
Dear All,
What is the functionality of Extend the name in Spice + Part A?
Dear All,
Whether Special Characters are allowed in SPICe+ PART A proposed name?
part
spice
characters
special
