ROC held that financial statements signed without prior Board approval violated Section 134(1), attracting penalties on the company and directors. The key takeaway is that Board authorization is mandatory before signing audited accounts.
The ROC imposed penalties after finding that CSR funds meant for ongoing projects were wrongly spent and not transferred to Schedule VII funds. The key takeaway is that improper use of unspent CSR amounts triggers liability under Section 135(5).
RoC Kolkata levied penalties for failure to file FY 2018-19 financial statements, holding the company and directors liable under Section 137(3) of the Companies Act.
SEBI’s 2025 amendments clarify appointments, roles, and responsibilities of managing directors, executive directors, CTOs, and CISOs in depositories to enhance governance and risk management.
The draft guidelines introduce uniform reporting formats, detailed documentation rules, and structured valuation processes to enhance clarity and reliability in insolvency valuations.
Understand the statutory time limits for filings, applications, approvals, and settlement processes under the Income-tax Act, including key compliance deadlines.
The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhances taxpayer convenience and modernises compliance procedures.
The ruling explains strict compliance requirements for specified domestic transactions, including maintaining detailed documentation for eight years. It highlights that failure to maintain, report, or furnish accurate information attracts penalties of up to 2% of transaction value.
Understand Section 54 relief for long-term capital gains on sale of a residential house, conditions for reinvestment, timelines, CGAS rules, limits on exemption, and the impact of selling the new property within three years.
Learn how direct taxes can be paid electronically, who must use e-payment, available payment modes, challan types, and step-by-step instructions for online tax payments. Covers income tax, TDS/TCS, STT, CTT, and other direct taxes.
