Sec182 of companies act 2013
This query is : Resolved
18 July 2014
Under the Companies Act 2013 contribution to any person for political purpose is not allowed. Can anyone put some more clarification on this point?
19 July 2014
Political contribution to any political party is allowed subject to the limit of 7.5% of net profit as prescribed in section 182(1). This contribution is also allowed by passing board resolution and needs to be disclosed in profit and loss account. This means law wants to protect the funds of the company from being misused.
Payment to a person is prohibited to avoid syphoning of funds of the company. It was noticed in past that some company paying company funds to its director indirectly as political contribution. So that may the reason.
Payment to a person is prohibited to avoid syphoning of funds of the company. It was noticed in past that some company paying company funds to its director indirectly as political contribution. So that may the reason.
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
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR 2 Short Term gain & Long term gain
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
