When a HUF is dissolved and partitioned, should the minor members of the HUF also should be included in the partition deed? Can the experts throw some light on this point please....

Hello Everyone,

My client registered under The Gujarat Value Added Tax Act, 2003. VAT Assessment completed for the period from April.2017 to June.2017 (Pre-GST) with the dissatisfied below points:

1) Opening ITC (Tax Credit as of 01.04.2017) not considered in the assessment order. 

2) Disallowed ITC on purchase as one of the suppliers hadn't paid tax.


Aggrieved with the above assessment order we preferred the first appeal before the appellant authority within time. Meanwhile, the Gujarat government has declared the "VERA SAMADHAN YOJNA-2019" scheme under various conditions, among them subject to one condition as an appeal to be withdrawn if it is filed against the said scheme,  Therefore, we decided to get the benefit of such a scheme for only above para no. 2, however, we wanted to continue appeal for para no.1. Therefore, we availed it and paid necessary tax for para no. 2 under the scheme by subject to withdrawal first appeal, but actually we should had to withdrawal partial appeal instead of the entire appeal but by mistakenly we had entire by received appeal order from the appellant authority in the month of Sept.2021.

Now, the local department has started recovery proceedings in connection with para no. 1 which is genuine. So, my query is that any remedy available in this matter?


Such as a request to first appeal authority to re-appeal or revision or others.......

I am thinking as a request to the local officer to generate a task for assessment for the previous period (FY 2016-17) to get the refund of closing ITC which ITC was not considered by the AO in the FY 2017-18 (April to June.17) as above mentioned.

Kindly guide me in this regard for any remedy available.

Dear Experts,

In one of the cases , buyer of the property has not paid 1% of transaction amount towards TDS. What can a seller of the property do to claim TDS? Can he officially intimate income tax department about non compliance on buyer's part?

Also will the buyer receive any notice from income tax department for not paying TDS? If yes, within what time? It is already 9 months from date of registration of property.

Regards,

Dear Mam/Sir,

What is the SAC Code for Interest Received from Customer on Late Payment?

Respected Expert

Kindly let me know any chance to start E- Invoicing for exceeding 5 cr turnover w.e.f. 1-4-23 ?

Please provide reply as we are working of ERP system.

Your positive & early response shall be highly appreciated.

Dear Sir

I Have linked pan with aadhar but portal is showing the pan aadhar link status from 10 days. and when i was callijng for OTP , portal saying that link aadhar.

Pls help !!!

Form CSR-2 asks for the financial figures like Net Profit, Turnover and Net Worth which shall correspond to the amount mentioned in AOC-4. My query is do we need to mention SRN of AOC-4 of FY 21-22 or 20-21 for filing related to FY 2021-2022.
The instruction kit to the form is silent on the subject matter. Please suggest.

How To file PRTC return Form IIIB for the month of February 2023 it
showing error ERROR DESCRIPTION Sr. No. Line No. Box Name Error
Description 1 16 To 20 Computation of Professional Tax Enter data only
in March to Jan Column

As per section 149 of the Companies Act, 2013 the maximum no. of directors which can be appointed in a company cannot exceed 15.
Provided that a company may appoint more than fifteen directors after passing a special resolution.

Question No. 1
Can a company specify lower limit (but not less than 3 in case of public company,2 in case of Private Company and 1 in case of OPC) than 15 directors in its articles? If yes, than as per which provision/section it is permissible?
For Example- A public limited company specified in its articles that maximum number of directors shall be 12 in there company. Is it valid to specify lower limit than 15 in the articles? If yes, than as per which provision/section it is permissible?

Question No. 2
Whether the articles of the company can state the maximum limit of directors higher that the statutory maximum limit i.e. 15?
For Example - A public limited company want to specify in its articles that maximum director in the company will be 17. So whether the company can specify maximum number of directors more than 15 in its articles?

Question No. 3
As we know that maximum limit of director in a company can be 15 as per act. More than 15 can be appointed by passing special resolution
So which of these options is correct for appointment of director in ABC Ltd?
Maximum Limit as per Act – 15 Directors
Maximum Limit as per Articles of ABC Ltd. – 13
Number of Existing Directors in ABC Ltd. – 11
Number of New Directors to be appointed in ABC Ltd. – 6
Total Number of Directors in ABC Ltd after appointment of new directors will be – 17(11+6)
Now to appoint new directors in ABC ltd. which of the following option is correct?

Option A –
In General Meeting - 2 Ordinary Resolution will be passed u/s 152(2) to appoint 2 new directors out of the 6 new directors to be appointed as the maximum limit provided in articles of ABC Ltd. is 13 and existing directors are 11 only so 2 new directors can be appointed simply by passing ordinary resolutions.
AND
In General Meeting – 4 Special Resolutions will be passed to appoint remaining 4 new directors out of the 6 new directors to be appointed as the maximum limit provided in the articles is 13 only and we have already appointed 13 directors (11 existing directors + 2 new directors appointed by passing 2 ordinary resolutions in general meeting).

Option B -
Firstly, In General Meeting – 1 Special Resolutions will be passed u/s 14 to alter the articles of ABC Ltd. so that the existing limit of maximum number of directors given in articles of ABC Ltd. as 13 can be altered and changed to maximum number of directors as 17. (This is possible only if it is permissible that articles of company can state the maximum limit of directors higher that the statutory maximum limit i.e. 15).
AND
In General Meeting – 6 Ordinary Resolutions will be passed u/s 152(2) to appoint 6 new directors in the ABC Ltd. (No special resolution will be required to appoint the 6 new directors as the now the articles of the ABC Ltd. has been altered and changed that maximum number of directors which can be appointed in the ABC Ltd. is 17 by passing special resolution in general meeting).

Option C-
Firstly, In General Meeting – 1 Special Resolution will be passed u/s 14 to alter the articles of ABC Ltd. so that the existing limit of maximum number of directors given in articles of ABC Ltd. as 13 can be altered and changed to maximum number of directors as 15. (This is possible when articles of company cannot state the maximum limit of directors higher that the statutory maximum limit i.e. 15).
AND
In General Meeting – 4 Ordinary Resolutions will be passed u/s 152(2) to appoint 4 new directors out of the 6 new directors to be appointed in the ABC Ltd. (No special resolution will be required to appoint the 6 new directors as the now the articles of the ABC Ltd. has been altered and changed that maximum number of directors which can be appointed in the ABC Ltd. is 15 by passing special resolution in general meeting).
AND
In General Meeting – 2 Special Resolutions will be passed to appoint remaining 2 new directors out of the 6 new directors to be appointed in the ABC Ltd. as per proviso of section 149(1) which states that “Provided that a company may appoint more than fifteen directors after passing a special resolution”.

Regards,
Shruti Agarwal

Is SD deduct on Gross or basic?..
My senior deducted SD on Gross value in all sales bill....
Is it correct?