REVISED 3CD FORM

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Hitesh Kothari

Chartered Accountant M.No. - 134239

326 Points Joined January 2009

Dear Members,

Notification is as follows:-

Income-tax (Tenth Amendment) Rules, 2009 - Amendment in Form No. 3CD

NOTIFICATION NO. 36/2009, DATED 13-4-2009

In exercise of the powers conferred by section 295 read with section 44AB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely : –

1. (1) These rules may be called the Income-tax (Tenth Amendment) Rules, 2009.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, in Appendix II, in Form No. 3CD, after item 17, the following shall be inserted, namely :–

“17A. Amount of interest inadmissible under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006.”

[F.No. 149/86/2008 –TPL]

Attached File : 29 revised-3cd-report.xls downloaded: 506 times

Replies (5)

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Joined January 2009

Dear Pawan,

As per Section 165(10) provisions related to Statutory General Meeting along with preperation of Statutory Report are not applicable to a Private Limited Company.

Please check at your end & revert.

Regards

Kamal Jain

FCA

200 Points Joined April 2009

Dear Ankur,

I think Pawan is asking about Audit Report (to be issued by Statutory Auditor) NOT "Statutory Report".

If so, There is no problem in giving audit report on 20-4-2009.However AGM can't be held until completion of minimum notice period of 21 days or so(not sure).

Thanks.

CS Gaurav Jain

Consultant

63 Points Joined May 2008

Dear Member,

Statutory audit Report can be dated 20.04.09 for AGm dated 25.04.09.

Additionally you need to check provisions in Articles for calling AGM at shorter notice.

In absence of any such provision , you can call AGM at shorter notice with consent of all the members. Section 171(2)(i)

regards

CS Gaurav Jain

+91-9212605990

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Joined January 2009

Do not agree with both the answers above.

Kindly appreciate the discussion below and share your valuable views.

No need to hold AGM in 2009 at all. 2008-09 (11 days) mai kya Audit karoga Bhai

First decide what is your financial year—In your case it should be from March 20, 2009 to March 31, 2010 i.e. a period of 12 months 11 days.

Remember this is 100% legal and as per normal practice.

Applicability of Section-166 read with section-210 suggest in your case

As per Section-166 last date for holding your AGM would be September 20, 2010 i.e. 18 months from the date of incorporation of the company.

As per section-210 Balance Sheet & Profit and Loss A/c shall lay before the members in case of first AGM with in 9 months from the end of financial year i.e. last date for holding your AGM as per section-210 would be December 31, 2010.

Conclusion as per the rule of Harmonious construction

As per my opinion your first financial year is ending on March 31, 2010 and as per section-210 you may hold your first AGM up to December 31, 2010. But here if you follow section-210 blindly without application of section-166 then there would be violation of section-166 regarding First AGM in 18 months provision.

Final Answer—In your case last date for holding first AGM would be September 20, 2010 which is in line with the provisions of both the sections.

Is it's obligation of auditor to sign balance sheet and p&L----YES

Sample date setting for holding your first AGM

Date of AGM------15.09.2010

Date of BM calling AGM & approving B/S & PL---------15.08.2010

Date of signing Audit Report---------15.08.2010

For further query please post it.

Best Regards

kirthi

student

88 Points Joined July 2008

Originally posted by :Hitesh Kothari

Dear Sir,

Thank you so much for enlightening us about the changes in Form 3CD. I wish to know what are the entities to which the Micro, Small and Medium Entp dev act applies ?

Best Regards