Dear All,

In our public ltd company we are going to give Rs. 60 lac managerial remuneration to our directors but as per limit prescribed in companies act 2013, we can't pay more than 42 lacs.

if central government does not approve our application for above mentioned managerial remuneration in that case we have to take back rs 18 lac from directors.

My query is what if director has already pay tax on above 60 lacs income and filed returned accordingly and not claimed any refund in itr.

Here is a small Query for which your expert advice is sought :

A small Pvt Ltd. (Annual Turnover Rs.45 Lacs) is buying googds from Himachal Pradesh.It sells all the goods in Kashmir thru Partnership firm there, in which all the directors are partners in the firm there.
What are points/formalities reqd under Company Law /Income-tax Act to set this in order.

what are the formalities to be complied with if an agreement is required to be made with a foreign educational institution, situated abroad ? whether there is any restriction for making remittances to them as per FC and regulation Act.

Sirs,

I am in the process of Private company incorporation. I got certification of incorporation after filing, INC-1, 7, 22, and DIR-12.
Is there any other formalities further? If so, what is the next step to finish the incorporation work. please guide.

Dear Expert,
I have purchased an stamp paper of Rs. 10 for affidavit purpose which is also duly notorised ...but later i come to know that it should be on Rs. 20 stamp paper. Does a franking can be done of Rs. 10 on the same stamp paper to make it a stamp paper of worth Rs. 20. Is it considered as valid??
Looking forward for your valuable inputs.

Hi Experts,

According to my interpretation, Secretarial Standard - 2, paragraph 1.2.2, mandates that to ALL other than members notice of general meeting shall be send only to email address not to postal address. Because everywhere term 'MEMBER' word is used. Also where director, auditor word is used then it provides right only electronic mode of sending notice. This is more evident in next two paragraphs, where term “members” is used.

is it correct interpretation. Give your expert reply. What is your opinion regarding it.

Whether sec 408 of companies act 56 applicable or not for may 2016

SIR REQUIRE MOA AND AOA OF POLUTRY FARMING .. ITS URGENT SIR PLSSS...

What is Procedure for reduction of Authorised Preference share capital ??

Dear All,
Kindly go through the point (ii) in the definition of "Body Corporate" as mentioned in the Companies Act, 2013 below:
“body corporate” or “corporation” includes a company incorporated outside
India, but does not include—
(i) a co-operative society registered under any law relating to co-operative
societies; and
(ii) any other body corporate (not being a company as defined in this Act),
which the Central Government may, by notification, specify in this behalf;

If we interpret it, it states that body corporate does not include other business entities, which are not registered as company under companies act, which the government specifically excludes. This means that other business entities, other than companies, are also included in the definition of body corporate apart from those which are specifically excluded by the government because if it would have been that body corporate means only companies registered under companies act then there would not have been any scope of clause (ii) in the definition that only government specified other business entities are "excluded" from the purview of "body corporate"

This interpretation is important to confirm whether partnership firms are included under body corporate or not?

Kindly help on the same...