There is purchase of a second hand air condition in the month of May at Rs.67386. Should I charge depreciation on it as per companies act and if i have to charge depreciation then how many number of days should I consider as used life.
Director has taken housing loan from HDFC Bank. and company was one of the party to loan agreement. Loan was shown in the book of company and EMI was paid by company . Loan amount was less than 100 % of free reserve as per last audited balance sheet for 2014-15.
1. Whether it attracts provision of Section 186 of the Companies Act, 2013
2. Whether amount of EMI will be treated as salary of Director
3. Whether charge should be registered in the name of the company
Thank you in advance
suppose if life of asset is 5 years and its cost is 100000, it means its total depreciable value should not exceed 95000(100000-5%) now if asset is depreciated 97000 already before implementing dep as per new comp act and its remaining life is 1 year do we have to adjust rs2000 from retained earning, and its rate of depreciation for remaining 1 year will be 0%, am i right? please explain it in detail
Dear Professional Colleagues,
Pls help to resolve the following query.
Sub section 2 of Section 67 of the companies Act, 2013 provides that No Public Company shall directly and indirectly provide any loan, guarantee, security or any financial assistance to any person for purchase of its own shares.
However subsection 3 of section 67 provides that nothing of subsection 2 applies for provision by a company of money to the ESOP Trust in accordance to Rule 16 of Companies (Share Capital and Debenture Rules) 2014.
Rule 16 of Companies (Share Capital and Debenture Rules) 2014 provides that the money provided by the company shall not exceed 5% of paid up capital and free reserves of the Company.
My query is that can a company give guarantee or provide any security for the loan to be given to the ESOP trust as same is not prohibited in Sub section 3 of Section 67 or Rule 16 of Companies (Share Capital and Debenture Rules) 2014.
Dear Sir/Mam Can a holding Co. give advance/loan to a subsidiary Co.
I am going to start tips on stocks.
For that, I am thinking of subscription fee/package, which is 100% refundable (at the end of 12 months), irrespective of my tips' performance.
Does it comply with all the available laws/regulations of Indian Financial Sector.
Kindly reply ASAP.
Advance received from customer against sale of supply but supply could not be made within 360 days from receipts of amount due to some reasons and money was returned by cheque within 364 days. Is it covered under "Deposits"
Pl. know me attachments for AOC-4
Can anyone provide me a note on define directors responsibility under internal financial control in trading unit