Income Tax : The Income Tax is one of the ways of taxation through which evolved one of the concept of assessment of 'black' & 'white’ money....
Corporate Law : The Payment and settlement System Act, 2007 was enacted on 20th December, 2007. The whole purpose of this act is to control the t...
Company Law : The concept of Independent director was introduced in the Report of Kumar Mangalma Birla Committee. The main purpose for establish...
Company Law : CS Akhilesh Kumar Jha Sl. No Sections Details Effective 1 5 Alteration of Article of Association for mentioning the Provisions of ...
Company Law : One Person Company is new concept under the Companies Act, 2013. Previously, there was no such type of concept. One Person Company...
Income Tax : Addition made on the basis of a print out taken from the computer of a third party without there being no other corroborative evid...
The Directors Report is the part of Annual Report in which the details of Company has been mentioned. There is no restriction to put any matter in the Directors Report if the Directors have intention to mention there apart from legal provisions. In view of this various company put a lot of matters, issues and publications which are not mandatory for putting in the Directors Report but if directors do, they may.
According to Section 299 of the Companies Act, 1956, the Directors of the Company place Form 24AA, when they are appointed in the Board and every year at the last month of the Financial Year after its renewal. The format of Form 24AA is prescribed under Companies (Central Government’s) General Rules and Forms, 1956. The Form 24AA is shown the nature of interest in any Contract or Arrangement of Directors.
The incorporation is the birth of the Company and thereafter the Company comes into existence. As soon as the Company is registered under the Companies Act, the provisions of Companies Act, 1956 is applicable on that Company. There are a lot of Sections under the Companies Act, 1956 which touch the Company but I am here to discuss only sub section (2) of Section 166 of the Companies Act, 1956.
