In my Company, a public limited company, a Electronic device is purchased for the factory use. It is a capital asset. It bought in 2008. But not put into use until today. Should I provide depreciation on that as per Companies Act, 1956? Further please clarify the depreciation treatment under the Income Tax Act, 1961.

Dear Experts,

I may post the following queries for your views :

Query 1

In Form 23ACA, Page 3 – Part II – 1. Proposed Dividend – Whether this represents the Equity Dividend only (as the company also has preference dividend).

Query 2

Similarly, in the Balance Sheet Abstract,
Item No.IV. Performance of Company – Dividend Rate % - Whether this represents the Equity Dividend % only.

Query 3

In the Balance Sheet Abstract, Item No.III. Application of Funds – Net Fixed Assets (NFA) :

Is it appropriate to include the amount of ‘Capital work-in-progress including capital advances’ in the field specifically given for NFA (in the absence of field for the Capital work...............) ?

or

Shall we create a separate field for ‘Capital work-in-progress including capital advances’ next to NFA and mention the amount here so that the relevant Heads Expenditure may not be disturbed ?

I shall wait for your views.

Ours is a private limited company. The company has no business activities from July of 2009. It has no assets nor any liabilities. There is no prospect of the company reviving its business activities. Can we avail of the Easy Exit Scheme 2010 for closing down the company.
S. Krishnamoorthy

Can some one guide me on formation of new private limited company for BPO industry?
Can also guide on statutory compliances requirement after being private limited company under various laws like PF, Labour Laws, Direct Tax and Indirect Tax and other act which are directly applicable to Company.

Can a Private Company invite deposits?If yes,what is the procedure to be followed and what are the limits?

Regards,
Rajiv Kaicker

How to work out remuneration amount for the purpose of disclosure u/s 217(2A)

Is arrears paid in current year relating to previous year shall be part of current year remuneration

gratuity or post retired medical benefits provided in accounts based on actuarial valuation shall be considered for above working

Amount paid on retirement like leave encashment, gratuity lumsum shall be part of remuneration for the year

Sir,

Facts

Directors of the Company purchased land in the name of the company.i.e Directors have given loan to company to purchase the land. I want to convert the Loans given by Directors into Share capital.

Query
1. Whether issue of shares against Directors' Loan amount to Issue of Shares for a consideration Other than Cash.
2. If yes, Kindly let me the known the procedures involved while filing Form 5.

Thanks

whether a company name is change from xyz private limited to ABC limited & if so what is the procedure to change the name

A private ltd which was not in operation for the past ten years wants to get its name striken off ROC records through the present Easy exit scheme.

The company has properly filed annual returns till now. The Company has a fixed asset of land for Rs 12 lacs and a share capital to that same extent. The Balance sheet filed every year shows the above asset(Rs. 12Lacs)and share capital liability (Rs. 11.75)with a nominal creditor liability(Rs. 0.25 lacs). The company was not in operation for the 10 years.The company does not have any secured loan.

the company wants to sell the land in company's name to the shareholders for rs. 10 lakhs. After this sale, the balnace sheet will have a capial liability of Rs. 1.75 lakhs and crs of .25 lacs and a the loss on sale of land of Rs. 2 lacs debited in P&L A/c in the assets side.
Should the company pass any special resolution to sell its property to its members?
Will the above balance sheet be accepted by Roc under easy exit scheme?
If not how should the company proceed to get its name strike off?
Kinldy clarify.
regards
RAJA RAJESWARI

is it possible to for the Private Company to carry on Business without the use of word Private Limited.

further this company does not have any public issue and its Registered in ROC as Public Company but files Income tax Return in which its status is Private Limited.

I want to know wether this company has following proper Statutory Compliance of Company law.