Companies Act 2013

Corporate Social Responsibility is a mandatory compliance to be fulfilled by eligible companies under Section 135 of the Companies Act, 2013. Certain companies have to spend 2% of their average net annual profits made during the three immediately preceding financial years, on CSR funds for undertaking CSR projects in India. These include companies that fulfil any of the following conditions: Companies having a net worth of Rs.500 crores or more, Turnover of Rs.1000 crores or more, Net profit of Rs.5 crores or more, during the immediately preceding financial year. CSR funds can be utilised by companies which undertake CSR activities themselves, or can be granted to NGOs which companies outsource their CSR activities to. For this purpose, the concerned NGOs will be required to obtain registration as “Bodies undertaking CSR activities” with the ROC. The regulation regarding CSR Registration for NGOs was introduced on the 1st of April, 2021. Under the instant scheme the eligible NGO has to register itself with the ROC by filing CSR-1 Application. Applicability of Form CSR-1 The Rules provides that a Board of a company should ensure the company itself undertakes the CSR activities or through: A registered society, registered public trust, Section 8 company or established under Section 12A and 80G of the Income Tax Act, 1961, incorporated by the company.  A company registered under Section 8 of the Act, a registered society or registered trust established by the Central or State Government.  Entities established under a State Legislature or Act of Parliament. A Section 8 company, registered society, registered public trust or company registered under Section 12A and 80G of the Income Tax Act with an established track record of at least three years in undertaking similar activities. Thus, a company can undertake a CSR activity on its own or through a company registered under Section 8, registered society, public trust or an NGO as mentioned above. All these entities mentioned above or the company that intends to undertake a CSR activity should mandatorily register themselves with the Registrar of Companies by filing the Form CSR-1 electronically.  Eligibility for CSR-1 Filing with the ROC A section 8 company Registered under section 12A and 80G of the Income Tax and have at least 3 years of undertaking charitable activities. A registered public trust Registered under section 12A and 80G of the Income Tax and have at least 3 years of undertaking charitable activities. A registered society Registered under section 12A and 80G of the Income Tax and have at least 3 years of undertaking charitable activities. Contents of Form CSR-1 Nature of the entity.  CIN number or registration number of the entity.  Date of Incorporation, address and email ID of the entity.  PAN of the entity.  Details of directors, chairman, board of trustees, secretary, CEO or authorised representatives of the entity.  DIN (Director Identification Number) and DSC (Digital Signature Certificate) of the signing director.  Certification by a practising professional. Process of Online CSR Registration he applicant needs to visit the MCA portal and click on the ‘MCA Services’ tab. Choose the option ‘e-Filing’ from the drop-down list and click on the ‘Company Forms Download’ option.  Scroll down the page to the ‘Incorporation services’ heading and click on the ‘Form CSR-1’ under the ‘e-Form’ row to download the form.  The Form CSR-1 will be downloaded in a zip folder. Open the zip folder named ‘Form_CSR-1’ and extract the ‘Form_CSR-1’ pdf form.   After extracting the pdf form CSR-1, open the form and fill it.  The eForm CSR-1 needs to be verified digitally by a Chartered Accountant (CA), Company Secretary (CS), or a Cost Accountant (CA) in practice.  After verification of the form by a CA, CS or cost accountant, submit the Form CSR-1 on the portal.  A unique CSR Registration Number will automatically be generated by the system upon submission of the form.  Documents required for Form CSR-1 Filing Process Copy of the registration certificate Copy of the PAN of the NGO with Form CSR-1 DIN/PAN of the Director, Trustee, Secretary, etc. of the organization Copy of the Resolution authorizing the person by the entity with Resolution number and date of the resolution DSC of the person CSR-1 Registration Benefits for NGOs Transparency in CSR funding- CSR Registration with the ROC makes the process of transfer of CSR funds completely transparent. Improved Public Image- Donors can rely more on NGOs that have a credible reputation among the public. Secured Corporate Funding- CSR grants guarantee corporate funding for NGOs, preventing funding shortage at any point of time. Enhanced Goodwill-Enhanced goodwill promotes the objective and purpose of your organisation. FAQs What is CSR eligibility for receiving funds? To be eligible for receiving CSR funds in India, an organization must meet the following criteria: a. It should be registered as a trust, society, or nonprofit Section 8 company b. It should have a clear and well-defined CSR policy that aligns with Schedule VII of the Companies Act, 2013. c. It should have a track record of at least three years of undertaking permitted social activities. d.It should have 12 A and 80 G Registration Certificates. What are the permitted activities for CSR? Following are the permitted activities under CSR for companies: Providing education Promoting gender equality Projects related to rural development Contribution to PM Cares Fund Contribution towards projects with positive environmental impacts Promotion of healthcare, preventive healthcare and sanitation activities related to COVID-19 Events related to disaster management, including relief activities What activities are prohibited to be considered as CSR contributions of companies? Following are the prohibited activities under CSR for companies: Normal Business Activities of Business Activities that are undertaken outside India Contribution to a Political Party Activities benefiting employees of the company Activities that give marketing benefit to the company Activities that are done due to any statutory obligation. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual

In accordance with the general practices, every company is required to prepare the extract of the annual return in Form MGT-9 and that too before the preparation of actual Annual Return in E-form MGT-7 which is submitted to ROC within 60 days of AGM. The Form MGT-9 is an extract of the annual return which contains the following details of the Company for one Financial Year and it is annexed to the Board’s Report of the Company: Basic details of Company (CIN, address, principal business activity); Principal Business Activities of the Company; Details of Holding, Subsidiary and Associate Company; Share Holding Pattern; An annual return is a comprehensive document of the company having a detailed overview of the company’s financial and non-financial disclosures. It has to be submitted to the Registrar within 60 days from the annual general meeting. Companies have to submit the annual return to ensure transparency in business operations. As per section 92(3) and section 134 of the Companies Act, 2013, companies are required to attach a copy of the annual return extract in Form No. MGT-9. It is prepared when the director’s report is approved in the board meeting. Who needs to fill out MGT-9? As per the Companies Act 2013, all companies that have issued equity shares or have convertible securities on their balance sheet are required to prepare and file Form MGT-9 with the Registrar of Companies (RoC) every year. This includes both listed and unlisted companies. Form MGT-9 requires companies to provide information about the remuneration paid to directors, key managerial personnel (KMP), and other employees of the company.  Therefore, companies with directors, KMPs, or employees who receive remuneration during the financial year must fill out Form MGT-9. The form contains the following information Name of the company: The name of the company is entered at the top of the form. CIN: The company’s corporate identification number (CIN) is entered on the form. Financial year: The financial year for which the form is being filed is mentioned in the form. Remuneration paid to directors: The form requires companies to disclose the remuneration paid to directors during the financial year. This includes the salary, bonus, and other benefits received by the directors. Remuneration paid to KMP: The form also requires companies to disclose the remuneration paid to key managerial personnel (KMP).. This includes the salary, bonus, and other benefits received by the KMPs. Remuneration paid to other employees: The form also requires companies to disclose the remuneration paid to other employees of the company. Reasons for variations in remuneration: The form requires companies to provide reasons for any variations in the remuneration paid to directors, KMPs, and other employees. Average percentage increase in salaries: The form requires companies to provide details of the average percentage increase in salaries of employees during the financial year. Comparison of remuneration with industry peers: The form also requires companies to compare their remuneration practices with those of their industry peers. Signature of the director/secretary: The form must be signed by the company’s director or secretary in digital format using a digital signature certificate (DSC). Form MGT-9 is a document that provides information about the remuneration paid to directors, KMPs, and other employees of the company.  It promotes transparency in the remuneration practices of companies and ensures that stakeholders are aware of the compensation paid to key individuals within the organization.  Companies must file Form MGT-9 within 60 days (about 2 months) of the annual general meeting (AGM) to avoid any penalties or legal repercussions. Details Required in Form MGT-9 The Companies Act of 2013 requires companies to disclose the following details in Form MGT-9: The name of the director, KMP, or employee. The designation of the director, KMP, or employee. The remuneration is paid to the director, KMP, or employee during the financial year. The nature of the remuneration includes salary, allowances, bonuses, stock options, and other benefits. The amount of contribution to the provident fund and pension fund. The details of perquisites and other allowances. The amount of any commission paid to directors. The details of any stock options granted to directors, KMP, or employees. The details of other benefits include profit-sharing, bonuses, or deferred benefits. Companies must provide this information for each director, KMP, and employee who receives remuneration during the financial year. Format of Form MGT-9 While filing Form MGT-9, a company has to submit registration and other details like CIN, registration date, the name of the company along with the category, registered office address, and details of the registrar and transfer agent. Furthermore, they have to mention the principal business activities of the company. There is a separate column for mentioning particulars of holding, subsidiary, and associate companies and the shareholding pattern. The company also has to fill in the details about the indebtedness of the company including their outstanding or accrued interest but not due for payment. Additionally, they have to give the details about the remuneration of directors and other key managerial personnel. Lastly, they have to fill in details if they have incurred any penalties or punishment. What problems may Companies face while filing this form Incorrect or incomplete information: One of the most common problems is inaccurate or incomplete information. Companies must ensure that the information provided in the form is correct and complete. Any discrepancies or errors could lead to penalties or legal repercussions. Technical glitches: Another problem that companies may face while filing Form MGT-9 is technical glitches. This could be due to issues with the MCA portal or other technical issues. It is advisable for companies to file the form well in advance of the due date to avoid any last-minute technical issues. Digital signature issues: Companies must ensure that the digital signature used to sign the form is valid and up to date. Any issues with the digital signature could lead to the rejection of the form Late filing: Failing to file Form MGT-9 within the due date can result in penalties and legal consequences. It is, therefore, important

The board of directors is the highest authority in any company. According to Section 179, Companies Act 2013, the power of directors of a company – entitled to make any and all decisions, and thus exercise all the power, which the company has authority to enact.  the Companies Act 2013, a Company can exercise its power through a Board of Directors or shareholders. The relationship between the shareholders and the board of directors works as an alliance because the board of directors has some powers that are exercised exclusively by them and also has some powers that can only be exercised with the approval of the shareholders either through an ordinary resolution or a special resolution. Power of Directors POWERS OF BOARD as per section-179(1)- Board of Directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do Provided that while exercising such powers or doing such act or thing, the Board shall be subject to the provisions contained in that behalf in 1. Companies Act, 2013 2. Article of Association 3. Memorandum of Association 4. Any regulations not inconsistent therewith and duly made thereunder 5. Regulations made by the company in general meeting Provided further that the Board shall not exercise any power or do any act or thing which is directed or required, whether under. 1. Companies Act, 2013 2. Article of Association 3. Memorandum of Association SEC 179 empowers the board of directors and authorizes them to exercise all these powers, and the board of directors, within the scope of this authority, may perform any act or thing on behalf of the company that the company is authorized to do and act, if: When the board of directors exercises such powers or any such in or matter, it shall be subject to certain provisions contained herein in that representation under the Companies Act, or the memorandum, or articles of association, or some other regulations duly made thereunder and includes also the regulations of the company at their general meeting. This means that the powers vested in the board of directors should be within the limits of the Companies Act, Articles of Association, Memorandum of Association, or any rule or regulation made by the Companies Act or any order made by the company in general meeting.The Board of Directors cannot exercise any power that is inconsistent with the Companies Act, the Articles, the Articles of Association, or any rule or regulation made by the Companies Act or any regulation of the company in general meeting. Nor can the Board of Directors exercise its powers or do any act or thing which is either ordered or required, either by the Companies Act or by the memorandum or articles of association, which can only be done or done by the company at a general meeting of the company. Restriction on powers of Board of Directors SECTION 180 Sell, lease, or otherwise dispose of all or substantially all of the Company’s business, or if the Company owns more than one business, all or substantially all of any such business. If the company wishes to sell, lease or otherwise dispose of (including by mortgage) the whole of the business or a substantial part of the business, it requires the prior approval of the shareholders through a special resolution. Unless the company passes a special resolution for the above transaction, and the purchaser or other person in good faith buys or takes on lease any property without knowing that the company has failed to comply with the law, then the claim of such person against such person’s property shall not be affected thereby. If the company sells or leases real estate in the ordinary course of business, shareholder approval is not required. Any special resolution adopted by the Company for the foregoing transaction may, within the scope of such resolution, set forth such conditions as to the use, disposition, or investment of the proceeds of sale which may arise from the transactions.To otherwise invest in the trust securities the amount of compensation it receives as a result of any merger or amalgamationIf the company has received any amount of compensation as a result of any merger or amalgamation and wants to invest such amount anywhere, the company requires the approval of the shareholders through a special resolution.It may be noted that the approval of the shareholders is not required if the company wants to invest such an amount in trust securities.Borrow money where the money to be borrowed by the company, together with money already borrowed by the company, exceeds the aggregate of its paid-up share capital, free reserves, and securities premium, excluding temporary loans obtained from the company’s bankers in the ordinary course of business:Temporary loans mean loans payable on demand or within six months from the date of the loan, such as short-term, cash credit arrangements, bill discounting and issuance of other short-term loans of a seasonal nature, it does not include loans obtained for financial expenses of a capital nature. If a company wants to borrow money and the amount of money already borrowed plus the amount of money to be borrowed exceeds its paid-up capital, free reserves, and securities premium. In such a case, the company requires the approval of the shareholders through a special resolution. (Amount already borrowed + amount to be borrowed > paid-in share capital, free reserve,s, and securities premium) = a special resolution is required.It can be said that if the money already borrowed and the money to be borrowed is less than the sum of its paid-up share capital, free reserves, and securities premium, a resolution of the board of directors is sufficient and no special resolution needs to be passed.(Amount already borrowed + Amount to be borrowed < paid-up share capital, free reserves, and premiums for securities) = Resolution of the board of directors is sufficient. The acceptance by banking companies of any deposits

India’s rapid economic growth and favourable business environment make it an attractive destination for foreign companies looking to expand their operations. With a large population, comprehensive tax system, low operational costs, a vast trade network, and government initiatives to promote international trade, India offers numerous opportunities for foreign companies to establish a successful presence in the country.The fastest-growing economies globally, with substantial human potential and a large market comprising over 1.2 billion people. The opportunities present in India have attracted a large amount of Foreign Direct Investment (FDI) into the country. Each year, the FDI inflow increases due to many foreign businesses establishing their operations in India.NRIs and Foreign Nationals starting or investing in a business in India have mainly done through a private limited company, as it allowed for 100% Foreign Direct Investment (FDI) under the automatic route for many of the sectors. Though the cost for the incorporation of a private limited company is relatively low compared, the effort required to maintain compliance was an inhibiting factor. To allow NRIs and Foreign Nationals to freely invest in businesses in India and improve foreign investment, the Government has now allowed 100% FDI in LLP under the automatic route.  Foreign Company Under the Companies Act, 2013 Sec 2(42) of the Companies Act, 2013 (‘Act’) defines a foreign company as a body corporate or company that is incorporated outside India, but- Has a business place in India, whether through an agent or by itself, either physically or through electronic mode Conducts business activity in India in any other manner India Entry for NRIs and Foreign Nationals Incorporation of Company: Incorporation of private limited company or investment in a company has been the most preferred India entry strategy for NRIs and Foreign Nationals. 100% FDI under the automatic route has been the main reasons for the popularity of private limited company amongst NRIs and Foreign Nationals.  Opening of Branch Office: Opening a branch office requires approval from RBI and is a more cumbersome process when compared to the incorporation of a private limited company. Further, only well-established businesses having a good track record in terms of financials are allowed to open a branch office in India. Therefore, India entry through establishing a Branch Office has not been preferred by NRIs or Foreign Nationals. Registration of LLP: Prior to November 2015, investment in LLP by NRI or Foreign National required Government approval. This made LLP incorporation involving NRIs and/or Foreign Nationals – a long, cumbersome and expensive process. Thus company registration was preferred over LLP registration by NRIs and Foreign Nationals. With the relaxation of FDI norms in November 2015, LLP registration can be done easily by NRIs and Foreign Nationals, making it an ideal investment vehicle for establishing a small business in India with foreign direct investment. Ways in Which Foreign companies can be Registered in India  The foreign national can establish a foreign company as a private limited company in India. Establishing a private limited company is the fastest way to set up a company in India. FDI of up to 100% into a private limited company is permitted under the FDI policy under the automatic route. A foreign national can incorporate a private limited company as a joint venture or a wholly-owned subsidiary.  Joint venture- A foreign entity will elect a local partner in India with whom it wishes to enter into a joint venture to operate its business in India. A Letter of Intent or Memorandum of Understanding (MOU) is signed between the foreign entity and the local partner, which will state the joint venture agreement basis. The joint venture agreement contains all the business terms, and it must be consistent with regional and international law.  Wholly-owned subsidiary- A foreign national/company can invest 100% FDI in an Indian company through the automatic route for the purpose of registering foreign in India. When a foreign entity invests 100% FDI in an Indian company, the Indian company will become a wholly-owned subsidiary of the foreign entity/company. A foreign company can register a liaison office, project office or branch office in India to carry on its operations in India. However, opening these offices requires RBI or government approval.  Liaison office- A foreign company can establish a liaison office for all liaison activities in India. The parent company (foreign company) will meet all the expenses of a liaison office through foreign remittance. Project office- A foreign company can establish a project office in India to execute projects awarded to them by an Indian Company. However, to establish such a project office, the foreign company may be required to obtain approval from the Reserve Bank of India. Branch office- A foreign company can establish a branch office in India. To establish a branch office, the foreign company must be a large business and provide proof of profitability.  Foreign Company Registration Process in India Joint venture registration process A joint venture is a contract/arrangement where two or more parties get together to run a business or achieve a commercial object. To establish a company in India through a joint venture, the foreign entity/national has to choose a local partner with whom they want to enter into a joint venture.  Then, the foreign entity and the local partner should sign an MOU or a Letter of Intent.  The MOU or a Letter of Intent should state the basis for the joint venture agreement.  The foreign entity and the local partner must negotiate and discuss all the terms of the joint venture agreement thoroughly. The joint venture agreement must be consistent with regional and international law.  It should contain essential matters like dispute resolution agreements, holding shares, applicable law, transfer of shares, confidentiality, board of directors non-compete, etc. Wholly-owned subsidiary registration process A minimum of two directors are required to register a wholly-owned subsidiary, out of which one director must be a resident in India. All directors must apply for DIN (Director Identification Number) and DSC (Digital Signature Certificate). The Memorandum of Association (MOA) and Article of Association (AOA) must be drafted. 

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 20th September, 2017 S.O. 3085(E).—In exercise of the powers conferred by sub-section (1) of section 210A of theCompanies Act, 1956, (1 of 1956), the Central Government hereby makes the following further amendmentsin the notification of the Government of India, in the Ministry of Corporate Affairs, number S.O. 3118(E),dated the 3rd October, 2016, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section(ii) dated the 3rd October, 2016, namely:—2. In the said notification,—(i) in paragraph 1, for serial number 2 and the entries relating thereto, the following serial numberand the entries shall be substituted, namely:—“(2) Shri Sanjay Gupta, President, Nominee of the Institute ofCost Accountants of IndiaMember, [nominated under clause(b) of sub-section (2) of section210A of the said Act].”;(ii) in paragraph 2, for the words “one year” the words “two years” shall be substituted. [F. No. 1/5/2001-CL-V (Part VI)]AMARDEEP SINGH BHATIA, Jt. Secy. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 20th September, 2017 S.O. 3086(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act,2013 (18 of 2013), the Central Government hereby appoints the 20th September, 2017 as the date on whichproviso to clause (87) of section 2 of the said Act shall come into force. [F. No. 01/13/2013-CL-V]AMARDEEP SINGH BHATIA, Jt. Secy. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 20th September, 2017 G.S.R. 1176(E).—In exercise of the powers conferred under proviso to clause (87) of section 2, section 450read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Governmenthereby makes the following rules, namely:—1. Short title and Commencement.—(1) These rules may be called the Companies (Restriction on number of layers)Rules, 2017.(2) They shall come into force on the date of their publication in the Official Gazette.2. Restriction on number of layers for certain classes of holding companies.—(1) On and from the date ofcommencement of these rules, no company, other than a company belonging to a class specified in sub-rule (2), shallhave more than two layers of subsidiaries:Provided that the provisions of this sub-rule shall not affect a company from acquiring a company incorporatedoutside India with subsidiaries beyond two layers as per the laws of such country:Provided further that for computing the number of layers under this rule, one layer which consists of one ormore wholly owned subsidiary or subsidiaries shall not be taken into account.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)](2) The provisions of this rule shall not apply to the following classes of companies, namely:—(a) a banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);(b) a non-banking financial company as defined in clause (f) of Section 45-I of the Reserve Bank of India Act,1934 (2 of 1934) which is registered with the Reserve Bank of India and considered as systematically importantnon-banking financial company by the Reserve Bank of India;(c) an insurance company being a company which carries on the business of insurance in accordance withprovisions of the Insurance Act, 1938 (4 of 1938) and the Insurance Regulatory Development Authority Act,1999 (41 of 1999);(d) a Government company referred to in clause (45) of section 2 of the Act.(3) The provisions of this rule shall not be in derogation of the proviso to sub-section (1) of section 186 of the Act.(4) Every company, other than a company referred to in sub-rule (2), existing on or before the commencement ofthese rules, which has number of layers of subsidiaries in excess of the layers specified in sub-rule (1) –(i) shall file, with the Registrar a return in Form CRL-1 disclosing the details specified therein, within a period ofone hundred and fifty days from the date of publication of these rules in the Official Gazette;(ii) shall not, after the date of commencement of these rules, have any additional layer of subsidiaries over andabove the layers existing on such date; and(iii) shall not, in case one or more layers are reduced by it subsequent to the commencement of these rules, have thenumber of layers beyond the number of layers it has after such reduction or maximum layers allowed in subrule (1), whichever is more.(5) If any company contravenes any provision of these rules the company and every officer of the company who isin default shall be punishable with fine which may extend to ten thousand rupees and where the contravention isa continuing one, with a further fine which may extend to one thousand rupees for every day after the firstduring which such contravention continues. 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MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 13th October, 2017 G.S.R. 1267(E).—In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8),(9), (10) and (11) of section 125, sub-section (6) of section 124 read with section 469 of theCompanies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules furtherto amend the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer andRefund) Rules, 2016, namely:—1. (1) These rules may be called the Investor Education and Protection Fund Authority(Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017.(2) They shall come into force from the 13th October, 2017.2. In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer andRefund) Rules, 2016, (hereinafter referred to as the principle rules), in rule 6—(I) in sub-rule (1),—(a) for the second proviso, the following proviso shall be substituted, namely:—“Provided further that in cases where the period of seven years provided undersub-section (5) of section 124 has been completed or being completed during the period from7th September, 2016 to 31st October, 2017, the due date of transfer of such shares shall bedeemed to be 31st October, 2017.”;(b) after the second proviso, the following proviso shall be inserted, namely:—“Provided further that transfer of shares by the companies to the Fund shall be deemed tobe transmission of shares and the procedure to be followed for transmission of shares shall befollowed by the companies while transferring the shares to the fund.”.(II) in sub-rule(3), for clause (d), the following clause shall be substituted, namely;—‘(d) For the purposes of effecting the transfer shares held in physical form-(i) the Company Secretary or the person authorised by the Board shall make anapplication, on behalf of the concerned shareholder, to the company, for issue of anew share certificate;(ii) on receipt of the application under clause (a), a new share certificate for each suchshareholder shall be issued and it shall be stated on the face of the certificate that“Issued in lieu of share certificate No….. for the purpose of transfer to IEPF” andthe same be recorded in the register maintained for the purpose;(iii) particulars of every share certificate shall be in Form No. SH-1 as specified in theCompanies (Share Capital and Debentures) Rules, 2014;(iv) after issue of a new share certificate, the company shall inform the depository byway of corporate action to convert the share certificates into DEMAT form andtransfer in favour of the Authority.’;(III) after sub-rule (12), the following sub-rules shall be inserted, namely:—“(13) Any amount required to be credited by the companies to the Fund as provided undersub-rules (10), (11) and sub-rule (12) shall be remitted into the specified account of the IEPFAuthority maintained in the Punjab National Bank.(14) Authority shall furnish its report to the Central Government as and when noncompliance of the rules by companies came to its knowledge.”.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]3. In the principle rules, in rule 7—(a) after sub-rule (2), the following sub-rule shall be inserted, namely:—“(2A) Every company which has deposited the amount to the Fund shall nominate a NodalOfficer for the purpose of coordination with IEPF Authority and communicate the contactdetails of the Nodal Officer duly indicating his or her designation, postal address, telephoneand mobile number and company authorized e-mail ID to the IEPF Authority, within fifteendays from the date of publication of these rules and the company shall display the name ofNodal Officer and his e-mail ID on its website.”;(b) after sub-rule (3), the following proviso shall be inserted, namely:—“Provided that in case of non receipt of documents by the Authority after the expiry of ninetydays from the date of filing of Form IEPF-5, the Authority may reject Form IEPF-5, aftergiving an opportunity to the claimant to furnish response within a period of thirty days.”;(c) after sub-rule (7), the following proviso shall be inserted, namely:—“Provided that in case of non receipt of rectified documents by the Authority after the expiryof ninety days from the date of such communication, the Authority may reject Form IEPF-5,after giving an opportunity to the claimant to furnish response within a period of thirtydays.”. [F. No. 05/17/2017-IEPF]AMARDEEP SINGH BHATIA, Jt. Secy. 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MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 18th October, 2017 S.O. 3393(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013(18 of 2013), the Central Government hereby appoints the 18th October, 2017 as the date on which the provisions ofsection 247 of the said Act shall come into force. [F. No. 1/27/2013-CL-V]AMARDEEP SINGH BHATIA, Jt. Secy. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit | Company Annual Compliance | Income Tax Audit | Nidhi Company Registration| LLP Registration | Accounting in India | NGO Registration | NGO Audit | ESG | BRSR | Private Security Agency | Udyam Registration | Trademark Registration | Copyright Registration | Patent Registration | Import Export Code | Forensic Accounting and Fraud Detection | Section 8 Company | Foreign Company | 80G and 12A Certificate | FCRA Registration |DGGI Cases | Scrutiny Cases | Income Escapement Cases | Search & Seizure | CIT Appeal | ITAT Appeal | Auditors | Internal Audit | Financial Audit | Process Audit | IEC Code | CA Certification | Income Tax Penalty Notice u/s 271(1)(c) | Income Tax Notice u/s 142(1) | Income Tax Notice u/s 144 |Income Tax Notice u/s 148 | Income Tax Demand Notice | Psara License | FCRA Online Company Registration Services in major cities of India Company Registration in Jaipur | Company Registration in Delhi | Company Registration in Pune | Company Registration in Hyderabad | Company Registration in Bangalore | Company Registration in Chennai | Company Registration in Kolkata | Company Registration in Mumbai | Company Registration in India | Company Registration in Gurgaon | Company Registration in Noida | Company Registration in lucknow Complete CA Services CA in Delhi | CA in Gurgaon | CA in Noida | CA in Jaipur | CA Firm in India RERA Services RERA Rajasthan | RERA Haryana | RERA Delhi | UP RERA Most read resources tnreginet |rajssp | jharsewa | picme | pmkisan | webland | bonafide certificate | rent agreement format | tax audit applicability | 7/12 online maharasthra | kerala psc registration | antyodaya saral portal | appointment letter format | 115bac | section 41 of income tax act | GST Search Taxpayer | 194h | section 185 of companies act 2013 | caro 2020 | Challan 280 | itr intimation password |  internal audit applicability |  preliminiary expenses |  mAadhar |  e shram card |  194r |  ec tamilnadu |  194a of income tax act |  80ddb |  aaple sarkar portal |  epf activation |  scrap business |  brsr |  section 135 of companies act 2013 |  depreciation on computer |  section 186 of companies act 2013 | 80ttb | section 115bab | section 115ba | section 148 of income tax act | 80dd | 44ae of Income tax act | west bengal land registration | 194o of income tax act | 270a of income tax act | 80ccc | traces portal | 92e of income tax act | 142(1) of Income Tax Act | 80c of Income Tax Act | Directorate general of GST Intelligence | form 16 | section 164 of companies act | section 194a | section 138 of companies act 2013 | section 133 of companies act 2013 | rtps | patta chitta