Company Law : Q1) What is Company ? Ans: According to the Companies Act, 1956, a Company is an association of people which is formed and regist...
Company Law : The first thing to take care of under the new Companies Act, 2013 is to follow a changed procedure for giving birth to a Company. ...
Corporate Law : Step wise Registration process of Partnership Deed in Maharashtra and challenges- Initially the process of registration in the sta...
Company Law : Selection of name for the proposed company: The Promoters have to provide at least 6 names in the order of their preference/prio...
Company Law : Now shifting of registered office from one State to another State under the Companies Act, 1956, requires a petition to be filed w...
Company Law : ANNOUNCEMENT Sub: Peak Filing Preparation 2016- MCA 21 As you are aware it is time of peak filing of Balance Sheet & Annual Re...
Company Law : In view of the references received from stakeholders seeking clarification on the applicability of provisions of Chapter III of th...
Company Law : The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabha that complaints were rec...
Company Law : One case of M/s. Speak-Asia Online Pte, a foreign company, has come to the notice of Ministry of Corporate Affairs. It is a multi-...
Company Law : The Ministry of Corporate Affairs has clarified that its Circular No.33/2011 issued on June 01, 2011 shall be applicable to those...
Income Tax : The ITAT held that for the computation of MAT, profits disclosed as per the audited accounts should be adopted, provided the accou...
Company Law : Supreme Court inter alia on prerequisites for conversion of a private company into a public company - It is not the records of the...
Income Tax : 10. We have heard the rival submissions and perused the material on record. The authorities below have not controverted the claim ...
Company Law : Request letter signed by the Promoters/shareholders of the company explaining the facts and requesting for insertion of at least o...
Company Law : In order to give an opportunity to the defaulting companies to enable them to make their default good by filing belated documents ...
The government today said it has asked the Registrar of Companies (RoC) to look into accounts of some companies on the basis of alerts put out by an early warning system, which has been installed to check corporate frauds.
Corporate Affairs Minister Salman Khurshid today said the Registrar of Companies has to judge if Rendezvous Sports had violated any procedures in its foray into the Indian Premier League cricket. “That is not for me to judge. If there are any violations, these are to be judged by the Registrar of Companies as they are the ones who monitor companies and it is their jurisdiction,” Khurshid told reporters here.
The government has found financial irregularities in 160 companies — a whopping 30 of them owned by it — thanks to the early warning system (EWS) put in place last year. After the nearly Rs 10,000-crore Satyam fraud last year, the Ministry of Corporate Affairs (MCA) in September had developed an EWS to detect corporate frauds. The software-based fraud detecting system scans companies based on 10 financial parameters set by the ministry.
The Ministry of Corporate Affairs has asked the Registrar of Companies (RoC) to look into alleged accounting discrepancies in five companies, which include Grasim, Adani Exports, Vickers Systems, Gwalior Chemical Industries and Metrochem Industries, CNBC-TV18 reports quoting government sources.
Criteria for identification of a vanishing company:A company would be deemed to be a vanishing company, if it is found to have: a) Failed to file returns with Registrar of Companies (ROC) for a period of two years;
Explore the complexities of corporate filing in India, revealing potential pitfalls and complications. Learn how internal filing mechanisms and misuse of authority can lead to legal disputes, hindering a companys progress. Legal expert V. Durga Rao provides insights and advice for effective corporate governance.
The government will sift through the financial data filed by companies with the Registrar of Companies to get a better picture of their investments and expenditure, helping it get better inputs for key policy decisions such as tax incentives. Financial details submitted with the RoC will be aggregated under various parameters such as investments, deposits and trade debt, a government official told. The initiative is driven by the ministry of corporate affairs. The RoC has financial data of nearly 10 lakh companies stored in its database management system, MCA-21.
Income Tax department has claimed Rs 30,000 crore from companies that have violated provisions under the minimum alternate tax. Sources said the claim is not only for the current assessment year of 2009-10, wherein assessments are still going on, but also for previous four-five assessment years, which are under litigation either in courts or at appellate levels.
We all know about the requirements of forming a Company in India. Incorporation of a Company, as a secretarial practice, may not be a complicated exercise. It is not difficult to get the Director Identification Numbers (DIN) for the proposed directors in the Company to be incorporated, it is not difficult to get Digital Signatures, it is not difficult to find the availability of name with the Registrar of Companies by filing e-form and it may not be difficult to comply with all the requirements and submitting an application to the Registrar of Companies
The ITAT held that for the computation of MAT, profits disclosed as per the audited accounts should be adopted, provided the accounts are prepared in the prescribed format. If the accounts are not so prepared, the Tax Authority may substitute the amount declared as per the Profit and Loss Account (P&L) with the appropriate amount, regardless of the fact that the accounts are certified as complying with the prescribed format by auditors.
