important sections of companies act


Nilesh Vikamsey and Naveen Gupta elected as new President and Vice President of ICAI

The Institute of Chartered Accountants of India ICAI is a statutory body established by the Chartered Accountants Act 1949 for the regulation of the profession of Chartered Accountants in India The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accoun

Empanelment of professionals with RD MCA

Regarding Empanelment of professionals having at least fifteen years of continuous practice as a Chartered Accountant with Regional Directors of the respective Region as Mediator or Conciliator for the year 2017 2018 I would like to inform you that the Regional Directors of Southern and North Wester

Harsh punitive action to be taken against Shell Companies

Harsh punitive actions to be taken against the deviant Shell Companies including freezing of Bank Accounts striking off the names of dormant companies invocation of Benami Transactions Prohibition Amendment Act 2016 A Task Force set up under the Co chairmanship of the Revenue Secretary and Corporate

Tax Relaxation under NPS

The Finance Act 2016 amended the Income tax Act 1961 the Act to provide that 40 of the amount payable to the employee subscriber of NPS on his closure of account or his opting out of the scheme shall be exempt from tax Further Finance Bill 2017 has proposed to amend the Act to provide exemption from

Disallowance of depreciation on capital expenditure made in cash

Under the existing provisions of the Act revenue expenditure incurred in cash exceeding certain monetary threshold is not allowable as per sub section 3 of section 40A of the Act except in specified circumstances as referred to in Rule 6DD of the Income tax Rules 1962 However there is no provision t

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Active dormant compnay.

Dear sir my company was incorporated in 2000 and it is showing current status as dormant company i want to active the company then what should i do please give the name of form list documents required and procedures to be followed to active the company

Manufacturing industry

dear sir whether service tax is applicable to diamond industry in case of labour if is applicable which service is covered

Depreciation rate (wdv) as per companies act

Dear Sir Kindly help me with the rate of depreciation to be charged as per WDV method for following assets during the specified FY Asset Class FY 2011 12 FY 2012 13 FY 2013 14 FY 2014 15 FY 2015 16 FY 2016 17 Furniture Fixtures Office Equipments Request to help at the earliest as I require the infor

rates of ESI deduction on labour contractor ?

please clerify what is the actual rates of E S I deduction in labour contractor bill in my co office renovation work in progress and contractor doing work with their labours in this case we are laible to deduct ESI on this bill

Tds on contract

Dear Sir The company pays maintenance charges to mall owner which includes electricity charges water Bill AC Charges Cam Charges etc Whether TDS on contract needs to be deducted If yes then on whole amount excluding service tax or only on AC Charges and Cam Charges Thank You


Foreign currency contract

Can a SEZ developer being resident enter into a contract with other resident in foreign currency and receive payment in FC

Benami transaction act

Does puchasing property out of funds taken as unsecured loans from Brother amounts to benami transaction

Disciplinary action against statutory auditor

We had appointed Statutory Auditor for a period of one year F Y 2015 16 In spite of providing him Financial accounts for the year he is deliberately not giving us the Audited Balance Sheet Hence during the AGM on 30 09 2016 the Audited Balance Sheet could not be adopted The Balance Sheet prepared by

Payment of wages (amendment) act, 2017

Payment of Wages Amendment Act 2017 has been passed on 15th Feb 2017 with retrospective effect w e f 28th day of December 2016 by repealing Payment of Wages Amendment Ordinance 2016 The Payment of Wages Amendment Ordinance 2016 was passed on 28th December 2016 which contains same provisions which ar

Vat 15 under rvat act

vat 15 issued by manufacturer exporter to raw material suppliers is correct under RVAT Act 2003

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Budget 2017 bringing India closer to global practices

Arise awake and stop not till the goal is reached said by Swami Vivekananda seems to be the motto of the Indian government which is relentlessly working on bringing India at Global footing as far as the taxation laws are concerned Year by year India is adopting the international best practices for a

A treatise on Section 80P (4) of Income Tax Act 1961

A lot of confusion is prevailing among the ITATs and Income tax authorities as well as the legal practitioners and Chartered accountants on the applicability of the provisions of Section 80P of Income Tax Act 1961 The Section deals with deduction in respect of income of Co operative Societies which

General Impact of GST on Indian Business

Various companies are rushing to merge their subsidiaries with themselves ahead of the implementation of Goods and Services Tax GST to reduce tax operational and administrative costs and to eliminate multiple legal entities Many of the companies had created multiple units in the past to save on taxe

Checklist for Annual compliance calendar under Companies act, 2013

1 ANNUAL COMPLIANCES FOR ONE PERSON COMPANY S No Section Rules Particular of Compliance 1 Receipt of MBP 1 184 1 Form MBP 1 Every Director of the Company in First Meeting of the Board of Director in each Financial Year will disclose his interest in other entities Every Director is required to submit

Companies (Auditor's Report) Order, 2016

IN THE WORLD OF CHANGES THE ONLY THING WHICH IS CONSTANT IS CHANGE ITSELF Background Section 143 11 of the Companies Act 2013 the Act requires that auditors report of specified class of companies should include a statement on the prescribed matters These reporting requirements have been prescribed u

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Updated on : 2/26/2017 1:36:12 AM

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