Consolidated Financial Statement (a part of Financial Statement) Financial Statement A. The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board at least by the following: Chairmen of the company,or, By two directors out of which one shall be managing …
Maintaining of the Statutory Registers & Records by the Company Statutory Books:- The term statutory register means the specified records related to a directors, companies shareholders & details of the meeting held. These are the additional records which are maintained by the company. Mostly companies keep their records and statutory records in a bound book …
What are the Relaxation on Applicability of Accounting Standard for SMCs : MCA Notification dated 23.06.2021 Applicability Different Accounting Standard on Small and Medium Sized Companies & Non- Small and Medium Sized Companies S. No Accounting Standards (AS) Small and Medium Sized Companies Non- Small and Medium Sized Companies 1 Disclosures of Accounting Policies- Accounting Standard-1 …
Happy Chartered Day Accountant! Welcome to the 72nd day of CA DAY! I would like to re-connect and to wish you a very happy CA day. I, as a co-professionals, wish to expand the partnership in IFCCL on this auspicious day. COVID 19 moved us all across digital channels into virtual action. Yes, when we …
Today Update : DIRECT TAX:- 271(1)(c) penalty cannot be levied in a case where the assessee has relied on the legal opinion of a professional and there is no tax impact i.e. the loss disallowed in year one is allowed set-off in a later year Pr. CIT vs. Atotech India Ltd (P&H High Court) Bombay High …
NO TERMED AS SERVICE OF NOTICE – POSITION WHEN DISPATCHING NOTICE AT INCORRECT ADDRESS Recently in case of Ventrapathi Financial Services v. Superintendent of Central Excise (2015), honorable Andhra Pradesh high court held that dispatching of notice at incorrect address could not be deemed as service of notice and accordingly entire proceedings are liable to be set …
POLICIES, PROCEDURE AND LEGAL FRAMEWORK – FOR FOREIGN DIRECT INVESTMENT IN INDIA India is one of the fastest growing economies since last few years and witnessed a large amount of foreign investment in various sector. The government has formulated its Policy aiming towards attracting more and more funds considering the domestic business concerns simultaneously. This article …
STEPS AND PROCEDURE UNDER SERVICE TAX REGISTRATION Every person liable to pay service tax is required to register himself by making an application to SCE as per section 69. The service provider before registering himself shall ensure that he has crossed the exemption limit of registration for the small service provider which is Rs. 10 …
PROVISION RELATING TO APPOINTMENT OF KEY MANAGERIAL PERSONNEL- LAW AND PROCEDURE UNDER THE COMPANIES ACT 2013 1. Appointment of Key Managerial Personnel : As per Section 203 (1) read with Rule 8 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, every listed company and every other public company having a paid-up share capital of ten crore rupees …
What are the Annual Filling Under Company Act Following forms to be filed with ROC: MGT-14 (For approval of financial Accounts and Board’s Report) AD T -1 (For appointment of Auditor) AOC-4 or AOC- 4 XBRL (For filing of Notice, Directors’ Report and Financial Statement) MGT-7 (For Annual Return) 1. Form MGT-14: (Need to file …