WHAT IS THE POWER OF ATTORNEY & WHEN IT IS TRANSFERRED?

Facts : A - State Govt.
B - Govt. Company
Purpose of B - Upliftment of the Horticulture and Agro based industries in state.

Transactions by A - Give non refundable funds to B for assisst the industies in state.

Transactions by B - Invest in agro based new projects in state as equity by holding as 26% shares which was buy back by promoters after 5 years with interest.

Income by B - Invest in FDR from the unused funds.

Q :
1. Whether interest income earned by B is the income of A or of B and whether it is taxable under Income Tax Act?
2. Whether these unused funds are to be shown as liablity in the books of B or not?
3. If this interest is also payable to State Govt. then who pay the tax on the same?

Is RBI approval required for the receipt of money from a foreign entity apart from getting Foreign Inward Remittance Certificate (FIRC) from the bank..

what is return of allotment?Is it necessary to file it annually?

A company constructs a building on its own land , and then capitalise both ,and charges depreciation on entire value.
Now it wants to write back the depreciaton on land.

Can it Do so?
Is there any Case Law Regarding this.

Ordinaray director not getting any remuneration till date. It is proposed to give him remuneration. For this purpose he has to be named as whole time director or executive director.
Querry is whether we have to file form-32 om this situation.

Would appreciate early reply. Thanks in advance

A company has passed its Accounts in the Board Meeting and passed on the same to statutory auditors. Statutory Auditors in the course of their Audit has come across observation and modification to the accounts as approved by the Board has been carried out. The modification were basically in the nature of some classification of accounts/expenditure , and enhanced Depreciation on some assets which have been totally lost their usefulness which has marginally affected the netprofit/loss figures.
The question which now arises is whether the accounts which have now been modified based on the statutory auditor observation needs to be put up to Board for approval or Not?
If Yes, then what will be the secretarial procedure for the same, Can the Board Meeting is to be called again or it can be done through circular resolution?
If No, then what exactly is the sanctity of Board approval at the first place.
Will be thankful to the respondent if Answers to the above may please also be forwarded to ghuliani@gmail.com also.
Regards
Ghuliani

Is it complusory to pay dividend by Private co. to Redeemable preference Shreholders carrying fixed rate of dividend who is having Foreign Companies as shareholders.

Under Income Tax Act, the depreciation will be calculated taking into consideration the criteria of 180 days.
(i.e. even if the asset use is only for 1 month then also we have to provide half years depre.)
Is there any provision similar to this in the Companies Act for calculation of depreciation (i.e. condition of 180days). Or can we depreciate the asset for the period it was in use? i.e. if the asset is in use for 4 months, then can we calculate the proportionate rate for 4 months?

Under Income Tax Act, the depreciation will be calculated taking into consideration the criteria of 180 days.
(i.e. even if the asset use is only for 1 month then also we have to provide half years depre.)
Is there any provision similar to this in the Companies Act for calculation of depreciation (i.e. condition of 180days). Or can we depreciate the asset for the period it was in use? i.e. if the asset is in use for 4 months, then can we calculate the proportionate rate for 4 months?