Tuesday, 23 December 2014
Monday, 8 December 2014
Key Action in New Companies act 2013
List of issues and actions which needs immediate attention of the Board in reference to provisions of the new law:
Preliminary
- Identification of new provisions which are applicable to your company including provisions based on criteria of capital, turnover, profit etc for instance Women Director, Internal Audit etc.
Timelines
- Identifying filing date for key events
- Identifying timelines for issue of share certificates
- Compliances with the transition period
- Reworking on the Corporate Structure
- Identification of Holding/Subsidiary & Associate Company based on the change in definition of Total Share capital
- Checking companies which may be converted to Dormant Company
Charter Documents & Registers
- Alteration of MOA where other objects are undertaken
- Alteration of AOA or Adoption of Table F
Fund Raising
- Consideration of altered Private placement norms
- Repayment of Deposits by specified companies
- Acceptance of Deposits by Private Company from Shareholders and Relatives of Directors; out of the exempted category
Statutory Audit
- Review of the term of the Auditor
- Review of services provided by the Auditor
- Review of eligibility of Auditor to continue services in the company
Other audit requirements
- Cost audit
- Secretarial audit for financial year 2013-14
- Internal Audit
Board Meetings
- Notice of Board Meeting (facility of Video Conferencing)
- Electronic Dispatch with receipt acknowledgement due
- Quorum (Disinterested Directors even for Private Limited Company)
- Resolution by Circulation –changed norms
Board Constitution
- Reconstitution of the Board
- Women Director
- Independent Director
- Resident Director (if required)
- Appointment &Designation of KMP
- Consideration of separation of position of MD & Chairman Determining Directors liable to retire by rotation
- Determining Directors liable to retire by rotation
- Maximum number of directorship to be reviewed
Board Processes
- New disclosure of Interest from Director
- Disclosure of Independence from Independent Directors
- Checking of Directors' disqualifications (for instance, if the person is the director of the Company which has not filed financial statements or annual returns for any continuous period of three financial years)
- Powers of the Board (items to be conducted in the Board meetings)
- Informing new restrictions to Directors
- Restriction on non cash transaction
- Forward Dealing
- Insider Trading
- Circulation of new roles and responsibilities, do's and dont's to Directors and KMPs
- Resignation of Director – requirement to forward their resignation to ROC
Related Party Transactions
- Framing the list of Related party as per new law
- Related party transactions (fresh or renewal requires new procedure)
- Immediate shareholders approval requirements for certain related party transactions which were earlier exempted
- Restructuring of transfer of funds within group
- Restrictions on loan to directors.
Remuneration& Appointment of Directors
- Consideration of Remuneration limits for executive and non-executive directors (for FY 2013-14)Remuneration of Non-Executive
- Sitting fees for Independent Directors
- Reconstitution of
- Audit Committee
- Stakeholders Committee
- Nomination and Remuneration Committee
- Constitution of CSR Committee
- Framing of charters of committees
Framing Policies & documents
- Framing Vigil Mechanism
- CSR Policy
- Code of conduct for Independent Directors
- Remuneration Policy
- Policy on Performance Evaluation of Independent Directors
- Policy on Related Party Transactions
- Policy on Selection Criteria of Independent Directors (as required to be formulated by Nomination and Remuneration Committee)
- Contract of appointment of MD / WTD
- Appointment Letter of Independent Directors
General Meetings
- Quorum (Non Participation of interested shareholder)
- Proxy
- E-voting requirements
- Disclosure in Notices, Explanatory Statement etc
Accounts
- Books of Accounts (may be prepared in electronic mode)
- Realignment of financial year
- Financial statement - to include Cash Flow Statement
Stationary & others
- Print of name etc before the registered office
- Change in office stationary eg. business letters, billheads, letter papers etc
- Company Name and address
- Corporate Identity Number
- Telephone number, fax number, if any, e-mail and website addresses, if any
- Publication of authorised capital, subscribed capital and paid up share capital at documents
Documentation
- Preparation of Statutory Registers in new format (Register of members. etc) Maintenance of any document, record, register, minutes, etc. in electronic form
- Maintenance of any document, record, register, minutes, etc. in electronic form
List of resolutions , which are recommended to be passed at the forthcoming Annaul General meeting of the Company:
- Alteration of Articles of Association or adoption of table F.
- Alteration of Memorandum of Association where other objects are undertaken
- The appointment of Women Director, Resident Director and Independent Director is to be approved by the Company in a general meeting
- Approvals for related party transactions
- Approval for limits under section 186- Loans and Investments by companies
- Appointment/ ratification of statutory auditors and fixing their remuneration
- Approval for managerial remuneration
- Approval for borrowing limits under section 180.
- Appointment of Statutory Auditor
Friday, 5 December 2014
Clarification regarding availment of CENVAT credit after six months-
Clarification regarding availment of CENVAT credit after six months-
Attention is invited to the Notification of the Government of India in the Ministry of Finance, Department of Revenue No. 21/2014-CE (NT) dated 11.07.2014, vide which, inter alia, amendment was made in Rule 4(1) and 4(7) of CENVAT Credit Rules, 2004 (CCR, 2004) to prescribe that manufacturer or output service provider shall not take CENVAT credit after six months of the date of issue of any of the documents specified in sub-rule (1) of Rule 9.
2. Concerns have been expressed by trade that in view of above changes, the re-credit taken in following three situations may be hit by the time limit of six months prescribed:
i. 3rd proviso to Rule 4(7) of CCR, 2004 prescribes that if the payment of value of input service and service tax payable is not made within three months of date of invoice, bill or challan, then the CENVAT Credit availed is required to be paid back by the manufacturer or service provider. Subsequently, when such payment of value of input service and service tax is made, the amount so paid back can be re-credited.
ii. According to Rule 3(5B) of CCR, 2004, if the value of any input or capital goods before being put to use on which CENVAT Credit has been taken, is written off or such provisions made in Books of Account, the manufacturer or service provider is required to pay an amount equal to credit so taken. However, when the inputs or capital goods are subsequently used, the amount so paid can be re-credited in the account.
iii. Rule 4(5)(a) of CCR, 2004 prescribes that in case inputs sent to job worker are not received back within 180 days, the manufacturer or service provider is required to pay an amount equal to credit taken on such inputs in the first instance. However, when the inputs are subsequently received back from job worker, the amount so paid can be re-credited in the account.
3. The matter has been examined. The purpose of the amendment made by Notification No. 21/2014-CE (NT) dated 11.07.2014 is to ensure that after the issue of a document under sub-rule (1) of Rule 9, credit is taken for the first time within six months of the issue of the document. Once this condition is met, the limitation has no further application. It is, therefore, clarified that in each of the three situations described above pertaining to Rule 4(7), Rule 3(5B) or Rule 4(5) (a) of CCR, 2004, the limitation of six months would apply when the credit is taken for the first time on an eligible document. It would not apply for taking re-credit of amount reversed, after meeting the conditions prescribed in these rules
S. No.
Issues
Clarification
1
Whether service tax is payable on remittance received in India from abroad?
No service tax is payable per se on the amount of foreign currency remitted to India from overseas. As the remittance comprises money, it does not in itself constitute any service in terms of the definition of 'service' as contained in clause (44) of section 65B of the Finance Act 1994.
2
Whether the service of an agent or the representation service provided by an Indian entity/ bank to a foreign money transfer service operator (MTSO) in relation to money transfer falls in the category of intermediary service?
Yes. The Indian bank or other entity acting as an agent to MTSO in relation to money transfer,facilitates in the delivery of the remittance to the beneficiary in India. In performing this service, the Indian Bank/entity facilitates the provision of Money transfer Service by the MTSO to a beneficiary in India. For their service, agent receives commission or fee. Hence, the agent falls in the category of intermediary as defined in rule 2(f) of the Place of Provision of Service Rules, 2012.
3
Whether service tax is leviable on the service provided, as mentioned in point 2 above, by an intermediary/agent located in India (in taxable territory) to MTSOs located outside India?
Service provided by an intermediary is covered by rule 9 (c) of the Place of Provision of Service Rules, 2012. As per this rule, the place of provision of service is the location of service provider. Hence, service provided by an agent, located in India (in taxable territory), to MTSO is liable to service tax.
The value of intermediary service provided by the agent to MTSO is the commission or fee or any similar amount, by whatever name called, received by it from MTSO and service tax is payable on such commission or fee.
Whether service tax would apply on the amount charged separately, if any, by the Indian bank/entity/agent/sub-agent from the person who receives remittance in the taxable territory, for the service provided by such Indian bank/entity/agent/sub-agent
Yes. As the service is provided by Indian bank/entity/agent/sub-agent to a person located in taxable territory, the Place of Provision is in the taxable territory. Therefore, service tax is payable on amount charged separately, if any.
Whether service tax would apply on the services provided by way of currency conversion by a bank /entity located in India (in the taxable territory) to the recipient of remittance in India?
Any activity of money changing comprises an independent taxable activity. Therefore, service tax applies on currency conversion in such cases in terms of the Service Tax (Determination of Value) Rules. Service provider has an option to pay service tax at prescribed rates in terms of Rule 6(7B) of the Service Tax Rules 1994.
Whether services provided by sub-agents to such Indian Bank/entity located in the taxable territory in relation to money transfer is leviable to service tax?
Sub-agents also fall in the category of intermediary. Therefore, service tax is payable on commission received by sub-agents from Indian bank/entity.
Thursday, 4 December 2014
Companies (Amendment) Bill 2014
The Union Cabinet has approved the introduction of the Companies (Amendment) Bill, 2014 in Parliament to make certain amendments in the Companies Act, 2013.
The Companies Act, 2013 (Act) was notified on August 29, 2013.
Out of 470 sections in the Act, 283 sections and 22 sets of Rules corresponding to such sections have so far been brought into force.
In order to address some issues raised by stakeholders such as Chartered Accountants and professionals, following amendments in the Act have been proposed:
1. Omitting requirement for minimum paid up share capital, and consequential changes. (For ease of doing business)
2. Making common seal optional and consequential changes for authorization for execution of documents. (For ease of doing business)
3. Prescribing specific punishment for deposits accepted under the new Act. This was left out in the Act inadvertently. (To remove an omission)
4. Prohibiting public inspection of Board resolutions filed in the Registry. (To meet corporate demand)
5. Including provision for writing off past losses/depreciation before declaring dividend for the year. This was missed in the Act but included in the Rules.
6. Rectifying the requirement of transferring equity shares for which unclaimed/unpaid dividend has been transferred to the IEPF even though subsequent dividend(s) has been claimed. (To meet corporate demand)
7. Enabling provisions to prescribe thresholds beyond which fraud shall be reported to the Central Government (below the threshold, it will be reported to the Audit Committee). Disclosures for the latter category also to be made in the Board's Report. (Demand of auditors)
8. Exemption u/s 185 (Loans to Directors) provided for loans to wholly owned subsidiaries and guarantees/securities on loans taken from banks by subsidiaries. (This was provided under the Rules but being included in the Act as a matter of abundant caution).
9. Empowering Audit Committee to give omnibus approvals for related party transactions on annual basis. (Align with SEBI policy and increase ease of doing business)
10. Replacing 'special resolution' with 'ordinary resolution' for approval of related party transactions by non-related shareholders. (Meet problems faced by large stakeholders who are related parties)
11. Exempt related party transactions between holding companies and wholly owned subsidiaries from the requirement of approval of non-related shareholders. (corporate demand)
12. Bail restrictions to apply only for offence relating to fraud u/s 447. (Though earlier provision is mitigated, concession is made to Law Ministry and ED)
13. Winding Up cases to be heard by 2-member Bench instead of a 3-member Bench. (Removal of an inadvertent error)
14. Special Courts to try only offences carrying imprisonment of two years or more. (To let magistrate try minor violations). (ANI)
Tuesday, 28 October 2014
FCRA DEPTT ADVISORY ON CASH PAYMENT OF RS 20000/
FCRA regd association to incur exp above Rs 20000 in cheque
Attached File : 40_14459_notice_fcra.pdf
Friday, 17 October 2014
Private company-Companies Act compliances
Private company-Companies Act compliances
Post incorporation requirements are obligations which companies are supposed to fulfill subsequent to incorporation. These include filing of annual returns, change of directors or secretary, change of financial year, alteration in capital, allotment of shares, transfer of shares and change of registered office.
Regular Works For A Private Company Under Companies ACT-2013:-
1. BOARD MEETING:
- In case of other than Small Company and One Person Company: As per Section- 173(1) Every Company require to hold at least 4 (four) Board Meetings of director of company. The maximum gap between 2 (two) Board Meeting should not be more than 120 days. There is no minimum requirements gap requirements.
- In case of Small Company and One person company: As per Section 173(5): Such companies require to hold at least 2 (two) Board meetings of Directors in every half calendar year. The gap between two Meeting should not be less than 90 (ninety) days.
2. GENERAL MEETING:
- First Annual General Meeting: As per Section – 96 (1) First Proviso- First Annual General Meeting of company shall be held with in a period of 9 month from the date of closing of the first financial year of company.
- Subsequent Annual General Meetings: As per Section- 96 (1) every company (except One Person Company) require to hold an Annual General Meeting of Company. Time period for holding subsequent Annual General Meeting:
- Maximum gap between 2 (two) General Meeting can be 15 (fifteen) month. or
a. 6 (six) month from the end of the closing of financial year
b. Whichever is earlier!
3. REGULAR E-FORMS REQUIREMENTS:
S. No. | Due Date of meeting | Agenda | Particulars | e-forms | Due Date Form Filling |
| 1 | 30th June | Filing of return of deposits. | If there is any deposit in company. | DPT-3 | 30th June |
| 2 | *28-Jul | Disclosure of Interest- MBP-1 | Preparation of MBP-1, Resolution for adoption, preparation and filing of MGT-14 | MGT-14 | 27-Aug |
| 3 | 6-Sep | Adoption of Annual Accounts and Director's Report | Resolution for adoption, preparation and filing of MGT-14 | MGT-14 | 5-Oct |
| 4 | 30-Sep | Filing - Balance Sheet | Preparation, certification and filing of Form 23AC | 23AC (AOC-1) | 30-Oct |
| 5 | 30-Sep | Filing- Profit & Loss Account | Preparation, certification and filing of Form 23ACA | 23ACA (AOC-1) | 30-Oct |
| 6 | 30-Oct | Filing of Annual Return | Preparation of Annual Return, preparation, certification and filing of Form 20B | 20B (MGT-7) | 30-Nov |
| 7 | 30-Sep | Filing of Auditor Appointment | Preparation of Form ADT-1 and filing with Form GNL-2 | ADT-1 | 14-Oct |
*If Last Board Meeting held on 31st March of the previous financial year.
4. Following documents needs to be filed with ROC:
1. | Particulars of Documents | Concerned Form | Time Period |
2. | Board Resolution for acceptance of MBP-1 | MGT-14 | with in 30 days of BM |
3. | Board Resolution for Adoption of Annual Account | MGT-14 | with in 30 days of BM |
4. | Balance Sheet | AOC-1 | within 30 days of AGM |
5. | Profit & Loss Account | AOC-1 | within 30 days of AGM |
6. | Cash Flow Statement | AOC-1 | within 30 days of AGM |
7. | Annual Return | MGT-7 | With in 60 days of AGM |
8. | ADT-1- Appointment of Auditor | GNL-2 | within 15 days of AGM |
5. Statutory Registers:
List of Statutory Registers which a company required to maintain as per Companies Act- 2013 given below: (I wrote a Article on Statutory Registers under companies Act-2013- mail me on csdiveshgoyal@gmail.com if you want that)
Sr. No | Particulars | Sections |
1 | Register of Members in Form No. MGT-1 | As per Section 88(1)(a) of CA-2013 and rule 3(1) of the Companies (Management and Administration) Rules, 2014 |
2 | Register of debenture holders/ other securities holders in Form No. MGT-2 | As per Section 88(1)(b) and (c) of CA-2013 and rule 4 of the Companies (Management and Administration) Rules, 2014 |
3 | Register of Renewed and Duplicate Share Certificates in Form No. SH-2 | As per Section 46(3) of the CA-2013 and rule 6(3)(a) of the Companies (Share Capital and Debentures) Rules, 2014 |
4 | Register of Sweat Equity Shares in Form No. SH-3 | As per Section-54 of CA-2013 and rule 8(14) of the Companies (Share Capital and Debentures) Rules, 2014 |
5 | Register of Employee Stock Options in Form No. Form No. SH-6 | As per Section-62(1)(b) of CA-2013, and Rule-12(10) of the Companies (Share Capital and Debentures) Rules, 2014 |
6 | Register of shares or other securities bought-back in Form No. SH-10 | As per Section-68(9) of CA-2013, and rule-17(12) of Companies (Share Capital and Debentures) Rules, 2014 |
7 | Register of charges in Form No. CHG-7 | As per Section-85 rule(10) sub-rule(1) of Companies (Registration of Charges) Rules, 2014 |
8 | Register of loans, guarantee, security and acquisition made by the company in Form No. MBP – 2 | As per Section-186(9) and Rule 12(1) of the Companies Meetings of Board and its Powers |
9 | Register of investments not held in its own name by the company in Form No. MBP – 3 | As per Section-187(3) and Rule 14(1) of the Companies Meetings of Board and its Powers |
10 | Register of contracts with related party and contracts and Bodies etc. in which directors are interested in Form No. MBP – 4 | As per Section-189(1) and Rule 16(1) of the Companies Meetings of Board and its Powers |
11 | Register of Transfers for Equity shares, Preference Shares and Debentures as required by | Section 56 of Companies Act, 2013 |
12 | Register of Transmission as required by | Section 56 of Companies Act, 2013 |
13 | Register of Deposit as required by | Section 73 and 74 and Rule 14 of the Companies (Acceptance of Deposit) Rules, 2014 |
14 | Register of Unpaid Dividend as required by Section 124 of Companies Act, 2013 |
|
15 | Register of Directors and Key Managerial Personnel as required by | Section 170(1) and Rule 17 of the Companies (Appointment and Qualification of Directors) Rules, 2014 |
16 | Register of Beneficial Owners as required by Section 88(3) of Companies Act, 2013 |
|
6. Minutes:
- As per Section: 118. (1) Every company shall prepare minutes of the proceedings of:
- Every general meeting of any class of shareholders or creditors, and
- Every resolution passed by postal ballot and
- Every meeting of its Board of Directors or of every committee of the Board,
Minutes to be prepared and signed in such manner as prescribed below as per rule -25 and kept within thirty days of the conclusion of every such meeting concerned, or passing of resolution by postal ballot in books kept for that purpose with their pages consecutively numbered.
As per Rule 25 of the Companies (Management and Administration) Rules, 2014: A distinct minute book shall be maintained for each type of meeting namely;
- General Meeting of Members
- Meeting of Creditors
- Meetings of Board; and
- Meetings of each of the committees of the Board.
- Resolution passed by Postal Ballot shall be recorded in the minute book of General Meeting as if it has been deemed to be passed in the General Meeting.
- Minutes should be prepared within 30 days of conclusion of meeting.
- Each page of Minutes Book shall be Initialed or signed.
- Last page of every record of the proceeding of each meeting shall be Dated and signed.
Signature on Minutes: As per Rule 25(d) of the Companies (Management and Administration) Rules, 2014
- Minutes of Board Meeting: By the Chairman of said meeting or by the Chairman of Succeeding (Next) meeting.
- Minutes of General Meeting: By the Chairman of said meeting with in 30 (thirty) days of conclusion of general meeting Or in the event of death of that chairman with in 30 (thirty) days of conclusion of general meeting by a director duly authorised by the Board for the purpose.
- Resolution passed by postal ballot: By the Chairman of the Board with in with in 30 (thirty) days If there is no chairman or in the event of death of that chairman with in 30 (thirty) days of conclusion of general meeting by a director duly authorised by the Board for the purpose.
Place to Keep Minute Book: As per Rule 25(d) of the Companies (Management and Administration) Rules, 2014: Minutes Books of both General Meeting and Board Meeting shall be
- Preserved permanently.
- Kept in the Custody of Company Secretary or any director duly authorized in Board Meeting.
- Kept at Registered office of Company
- Kept any other place if, approved by the Board.
7. Ratification of Auditor:
As per Section- 139 of Companies Act 2013 Now Auditor will be appoint for a term of 5 (Five) consecutive years. But as per First proviso of Section-139(1)- Company will ratify such appointment at every general meeting of company.
8. Some point required to keep in mind:
Check: At every Board Meeting check is there any change in interest of Director from the disclosure earlier given by them. If there is any change then director have to give disclosure in MBP-1 to company [Change in disclosure of interest- As per section- 184(1)] and its mandatory for company to file Board resolution for acceptance of MBP-1 in form MGT-14 with in 30 days of meeting of board of directors (As per Section- 179(3) of Companies Act- 2013).
Check: That every borrowing of Company with in Limit of Section- 180(1)(c) of Companies Act, 2013, if any time company exceed that limit, there is require to get Shareholders approval by passing of Special Resolution at General Meeting of company.
Check: That every loan of Company with in the Limit of Section- 186 of Companies Act, 2013, if any time company exceed that limit, there is require to get Shareholders approval by passing of Special Resolution at General Meeting of company.
Check: Private Limited company not borrowing from person other than its directors, condition directors will give declaration that such money is directors own money.
Statutory Auditors of Company Section- 139
Statutory Auditors of Company Section- 139
APPOINTMENT OF AUDITOR,
Section - 139 read with rules The Companies
(Audit and Auditors) Rules, 2014
Series-25.1
YOU MAY SEE THE FOLLOWING TABLE SHOWING THE RELEVANT PROVISIONS RELATING TO APPOINTMENT OF FIRST AUDITOR OF COMPANY. | |
Which Section will apply for appointment of First Auditor | Section 139(1) |
Who will Appoint First Auditor | Board of Directory By Passing Board Resolution in Board Meeting |
Time Limit for Appointment of First Auditor | Within 30 days from Incorporation of Company |
Who will Appoint First Auditor if Board of Director Fails to Appoint First Auditor | Members of Company by Passing of Ordinary Resolution in Extra Ordinary General Meeting |
What is the Tenure of Office of First Auditor? | First Auditor may hold office until conclusion of First Annual General Meeting |
Whether First Auditor can be remove before First Annual General Meeting, If appointed in General Meeting. | Yes, by Members of Company by Passing of Special Resolution, After obtaining the previous approval of Central Government in that behalf |
Whether First Auditor can be Appoint Through AOA & MOA. | No, the Appointment of First Auditor by the Articles of Company will not be valid. |
DRAFTS OF THE DOCUMENTS REQUIRED FOR THE APPOINTMNET OF AUDITOR
i. INTIMATION FOR APPOINTMENT BY COMPANY TO AUDITOR
M/s Name of auditor firm.
Chartered Accountants,
Address:------------
Ref: Consent & Certificate for re-appointment as statutory auditor under the Companies Act, 2013
Dear Sir,
The company is planning to hold 1st Annual General Meeting on 25th September, 2014 and in accordance with provisions of Section 139 of Companies Act, 2013, we need your consent and certificate under section 141 of Companies Act, 2013 for your re-appointment as Statutory Auditor of Company.
Thanking you,
Yours sincerely,
For Name of Company
(Name of Director)
Director
DIN: ---------------
Add: -------------
II. Consent of auditor
To
Date:
The Board of Directors
Name of Company
Address
Dear Sirs,
Sub: Letter of Consent for re-appointment as auditors of pine Advertisers Private Limited.
We thank you for your letter dated: 22nd August, 2014, seeking our consent for re-appointment as auditors of pine Advertisers Private Limited ("the company"). We hereby consent to our re-appointment as auditors of the company pursuant to the provisions of Section-139 of the Chapter X of the Companies Act, 2013.
Thanking you,
Yours Sincerely,
Name of Auditor Firm
Chartered Accountants
Firm Registration No. -----------
(Name of Partner/Proprietor)
Partner
Membership No. -----------
Place: Delhi
III. Eligibility Certificate from auditor
Certificate
[Pursuant to the provisions of Section 139 of the Chapter X of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014]
To
Date:
The Board of Directors
Name of Company
Address
Dear Sirs,
Sub: Letter for re-appointment as statutory auditor under the Companies Act, 2013
In connection with re-appointment of Name of Auditor firm. ("the Firm"), Chartered Accountants as auditors of pine Advertisers Private Limited ("the Company") in accordance with the provisions of the Companies Act, 2013 (the Act) and rules and regulations made there under, we are pleased to confirm that:
1) The firm is eligible for re-appointment and is not disqualified for re-appointment under section 141 of the Companies Act, 2013, the Chartered Accountant Act, 1949 and rules and regulations made thereunder;
2) Our proposed re-appointment would be as per the terms provided under the Act;
3) The proposed appointment is within the limits laid down by or under the authority of the Act;
4) There are no proceedings pending against either of the partners or the firm with respect to professional matters of conduct.
5) We satisfy other criteria as provided under Section 141 of the Act.
Thanking you,
Yours Faithfully,
Name of Auditor Firm
Chartered Accountants
Firm Registration No. -----------
(Name of Partner/Proprietor)
Partner
Membership No. -----------
Place: Delhi
IV. LANGUAGE IN NOTICE FOR APPOINTMENT
2. Re-appointment of Auditor
To consider and if thought fit, to pass with or without modification(s), the following resolution as an Ordinary Resolution:
"RESOLVED THAT pursuant to the provisions of Section- 139 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules framed there under, as amended from time to time, M/s. Name of Chartered Accountant., Chartered Accountants, (FRN No. ----------) be and is hereby re-appointed as Auditor of the Company to hold office from the conclusion of this Annual General Meeting (AGM) till the conclusion of the 6th AGM of the
Company to be held in the year 2019 (subject to ratiï¬cation of their re-appointment at every AGM), at such remuneration as may be agreed upon between the Board of Directors and Statutory Auditors, in addition to the reimbursement of service tax and actual out of pocket expenses incurred in relation with the audit of accounts of the Company.
V. LANGUAGE IN DIRECTOR REPORT.
Auditors of the Company M/s Name of firm., Chartered Accountants, hold office until the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment until the conclusion of 6th Annual General Meeting of the company to be held in the Year 2019 (subject to ratification of their appointment by the Members at every Annual General Meeting held after the ensuing Annual General Meeting).
As required under the provisions of section – 139(1) of the Companies Act, 2013, the company has received a written consent from M/s Name of firm., Chartered Accountant to their re-appointment and a certificate, to the effect that their re-appointment, if made, would be in accordance with the new Act and the Rules framed there under and that they satisfy the criteria provided in section- 141 of Companies Act, 2013. The Board recommends their appointment.
VI. LANGUAGE OF ordinary resolution.
1. RE-APPOINTMENT OF RETIRING AUDITORS
The Chairman informed the meeting that the Retiring Auditors, M/s NAME OF AUDITOR FIRM., Chartered Accountants, have shown their willingness to be re-appointed as Auditors of the Company and have confirmed that their re-appointment, if made, would be within the limits prescribed under Section 139 of the Companies Act, 2013.
On this connection, the Chairman invited the member/s to propose the following resolution which was proposed by Mr. Sumit Khanna the Managing Director and Member of the Company:
"RESOLVED THAT pursuant to the provisions of Section- 139 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules framed there under, as amended from time to time, M/s. NAME OF AUDITOR FIRM., Chartered Accountants, (FRN No. --------------) be and is hereby re-appointed as Auditor of the Company to hold office from the conclusion of this Annual General Meeting (AGM) till the conclusion of the 6th AGM of the Company to be held in the year 2019 (subject to ratiï¬cation of their re-appointment at every AGM),
FURTHER RESOLVED THAT the remuneration of the Statutory Auditors of the Company be and is here-by decided either by Mr. Name of Director or Mrs. Name of Director, both Directors of the Company."
The resolution then was seconded by Mr. Name of Director, Director /Member of the Company.
The Chairman then put the resolution to members present at this meeting to vote by show of hands in response to which all the members present, raised their hands in favor of the resolution. Then the Chairman declared the same as passed unanimously.
VII. Intimation letter to auditor.
25th September, 2014
M/s Name of auditor firm.
Chartered Accountants,
Address:------------
Sub. : Reappointment as Statutory Auditors of the Company.
Dear Sir,
With reference to the resolution passed at the Annual General Meeting held on 25th September, 2014, we bring to your kind notice that you have been re-appointed as Statutory Auditors of the Company till the conclusion of the 8th AGM of the Company to be held in the year 2019 (subject to ratiï¬cation of their re-appointment at every AGM). The remuneration shall be decided mutually.
Thanking you,
Yours sincerely,
Yours sincerely,
For Name of Company
(Name of Director)
Director
DIN: ---------------
Add: -------------
VIII. ADT-1.
FORM NO. ADT-1 [See rule 4(2) of the Companies (Audit and Auditors) Rules, 2014]
Notice of appointment of auditor by the company
1.(a) Corporate identity number (CIN) or foreign company registration number (FCRN) of the company
(b) Global Location Number (GLN) of company
| ||
2. (a) Name of the company: (b) Address of the registered office or of the principal place of business in India of the company: (c) E-mail ID of the company
3. Date of meeting at which the auditor appointed _____________
| ||
4. Category of Auditor Inpidual Firm
5.(a) Income Tax PAN of Auditor or auditor's firm
(b) Name of the Auditor or Auditor's firm (c ) Membership Number of Auditor or auditor's firm's registration number (d) Address of the Auditor or auditor's firm (e) City (f) State (g) Pin code (h) Email id of the auditor or auditor's firm
Place:
Date: | ||
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Verification I am authorised by the Board of Directors of the Company vide resolution | ||
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Note:
This eform has been taken on file maintained by the Registrar of companies through electronic mode and on the basis of statement of correctness given by the filing company. Attention is also drawn to provisions of section 448 of the Act which provide for punishment for false statement.
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Last date for filing TDS return extended in some states
Last date for filing TDS return extended in some states |
last date of filing of the TDS/TCS Statements for the 2nd Quarter of Financial year 2014-15 for the deductors/collectors in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana extended
In view of the recent natural calamities in the States of Andhra Pradesh, Jammu & Kashmir, Odisha & Telangana, the Central Board of Direct Taxes has issued an order extending the due date for filing the TDS/TCS Statements for the 2nd Quarter of Financial year 2014-15 by the deductors/collectors in these States. In case of Government deductors/collectors that are mapped to a valid AIN, the due date is extended from 31st October, 2014 to 7th November, 2014. In case of all other deductors/collectors, the due date is extended from 15th October, 2014 to 31st October, 2014.
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Companies (audit) rules
Companies (accounts) rules
Companies (accounts) rules |
In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub-section (3) of section 129, section 133, section 134, sub-section (4) of section 135, sub-section (1) of section 136, section 137 and section 138 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Accounts) Rules, 2014, namely:- |