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 case examined whether old share capital can be taxed due to ROC strike-off of a shareholder. ITAT held that Section 68 applies...
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 : The issue was failure to provide full allottee particulars in PAS-3. The key takeaway is that missing PAN or email details can tri...
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 ...
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.
In view of the vastness of the subject, the complications and listening at many of my colleagues, I have decided to present a small brief on Companies to be formed under the provisions of Companies Act, 1956, the difference between Private Limited and Public Limited Companies, the applicable law and also the complications. I know the vastness of the subject and I just want to present a small brief as follows:
he Ministry of Corporate Affairs (MCA) has worked out new parameters for scrutiny of companies. These are based on reports on the Satyam fraud investigation. In instructions to the Registrar of Companies (RoC), MCA has pointed to ‘cash at bank’ as a vital parameter for scrutiny. Till now, the auditor’s certificate was sufficient.
Limited Liability Partnership Act, 2008 (LLP Act) was passed by the Parliament in December, 2008. Some of the sections of the LLP Act were made effective on 1-4-2009. Sections relating to conversion of existing partnership firms and private as well as public unlisted companies into LLP have been brought into force on 31-5-2009. Sections relating to liquidation and winding up of LLP have not yet come into force. LLP Rules, 2009, have also been made and they have now come into force.
The head count in the fraud hit Satyam Computers, which engaged the attention of investigating agencies considerably, is now become the curse for the company’s former directors.A charge common to most of the accused in the complaints filed in a court here by the Serious Fraud Investigation Office (SFIO) is that they approved the company’s balance sheets and the director’s reports about particulars of employees that were never filed with the competent authority.
Vasudevan, who was director investigation and inspection ministry of corporate affairs before joining the CLB three months ago, was looking into high profile cases like the Satyam and the Sesa Goa fraud. “No we don’t need to relook, it is the SFIO that has done the investigation, in the beginning it was done at the level of Regional Director and Registrar of Companies and then it was taken over by the SFIO, so I don’t think we need to worry at all…,” Corporate Affairs Minister Salman Khurshid said.
Foreign companies who are engaged in manufacturing and trading activities outside India are allowed, by Indian law, to set up branch offices in India for the following purposes: Export/Import of goods. Rendering professional or consultancy services. Carrying out research work, in which the parent company is engaged.
Further, it may be noted that since technical scrutiny of balance sheet does not involve attestation function, accordingly any Chartered Accountant not holding certificate of practice is also eligible to apply for the subject panel.
Last Year, The CBEC, had planned a Third Party Information System (TPIS), a third party information model for excise duty. Now CBEC requires to reproduce the trials with service tax. As per board, it is a very effective and non-intrusive set up to obtain all apposite data to trap the tax evaders.
