Board meeting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2013
Hello!!!
A PQR Pvt. Ltd. company has held his Board Meeting in month of April. Can we held the next meeting of Board of Directors in month of September. Please Reply.
A PQR Pvt. Ltd. company has held his Board Meeting in month of April. Can we held the next meeting of Board of Directors in month of September. Please Reply.
14 June 2013
Hi
The Department has clarified vide Circular letter No. 40/3/72-CL-III, dated 2-6-1973, that there is a clear distinction between 'every' and 'each'. 'Every' directs attention chiefly to the totality, 'each' chiefly to
the individual's composing it. In view of this distinction, the expression 'every three months' occurring in section 285 should naturally means three months taken together. Provisions of section 285 will be fulfilled if the Board of directors meets on the first of January, or the 31st March, or any date in between. Next three months should naturally comprise April to June. It is open to the Board of directors to meet on any date during three months from April to June. Similarly, the Board may, at least, meet on a particular date during July to September and so on. In section 285 there is no scope for making backward calculation.
The Department has clarified vide Circular letter No. 40/3/72-CL-III, dated 2-6-1973, that there is a clear distinction between 'every' and 'each'. 'Every' directs attention chiefly to the totality, 'each' chiefly to
the individual's composing it. In view of this distinction, the expression 'every three months' occurring in section 285 should naturally means three months taken together. Provisions of section 285 will be fulfilled if the Board of directors meets on the first of January, or the 31st March, or any date in between. Next three months should naturally comprise April to June. It is open to the Board of directors to meet on any date during three months from April to June. Similarly, the Board may, at least, meet on a particular date during July to September and so on. In section 285 there is no scope for making backward calculation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- FCRA 6 E- Intimation
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Bank details not Visible on Traces Portal
- Journal entry of busniess expenses
- EXPORT COMMERCIAL INVOICE HSN CODE
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- Cash balance limit and property purchases limit
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
