Having understood that Company's board meeting has to be made once in 3 months, how to submit the meeting proof and whom to submit. Is that mandatory or can we do a total of 4 meetings in an year any time?
09 April 2012
Dear Abin, Every company is required to hold atleast 4 board meeting in a year and atleast 1 meeting in a quarter is to be held. There is no such requirement in companies act to hold meeting in every 3 months. The minutes are the evidential proof of meeting. Minutes are to be prepared for every board meeting.
09 April 2012
Under Section 193 of the Companies Act, 1956 it is the duty of every company to keep minutes of every meeting of the Board of Directors. As per section 194 of the Companies Act, 1956 minutes kept in accordance with section 193 are the evidence of the proceedings recorded therein.
Section 285 of the Act provides that every company, private or public, shall hold at least one meeting of the Board in a period of three months and four meetings in a year.
09 April 2012
a) Is there any time limit to start a Current account after incorporation, as i am away from hometown for 4 months for a business canvassing ?
b) Should i deposit initially 1 Lakhs to show capital investment in bank or shall i show the equipment cost and purchased bills at the end of annual returns?
09 April 2012
To form a comapny, you need to contribute Rs. 1 laks towards capital first then you can purchase a equipment from such capital. Direct showing equipment cost is not possible. In my knowledge, there is no time limit for opening a current account.
10 April 2012
Sir, I have received my Company incorporation by April 4 this month however, i will start the current account and company activities by September mid only as i am out of station for personal reasons.
So my question is, Should i submit income tax filing by September end this year? Pls clarify?
10 April 2012
No, Till the end of F.Y(i.e march ended) you have not got certificate of incorporation. It means that company was not in existence till march, you are not required to file ITR for this F.Y.
10 April 2012
Dear Mr. Amit, Can you pls tell me how long it takes to change the registered office address to a new one? Is that a very big procedure? Pls advice...
CAclubindia
