There are several criticalities in the Annual Filing for the FY ended 31st March 2021. Discussing the same from the point of view of Financial statements via 20 FAQs.
It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.
Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of the Companies Act, 2013.
Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.
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After the launch of the new portal, due to technical glitches, the functioning of the portal was affected. Various problems are being faced by the taxpayers, professionals, and other stakeholders.
All the existing trusts and institutions registered u/s 12AA shall re-register themselves u/s 12AB w.e.f. 01.04.2021. Registration granted u/s 12AB shall remain valid for 5 years.
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At an AGM, the directors of the company present an Annual report containing information for the shareholders about the company's performance and strategy.
If a person has been disqualified in any company due to section 167(1) such person shall be considered as ceased in all other companies wherever he was appointed as a Director.
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