Diff between section 163 and 209
This query is : Resolved
Guest
Guest
(Querist)
10 December 2011
Hi,
As per section 163 Statutory register can be kept at any place within CITY other than registered office by passing special resolution
As per section 209 books of accounts can be kept at any place in india by filing form 23AA within 7 days. Books should be maintained for 8 years.
My queries are :
1. Which books are covered under 163 and 209. What is the diff between the two.
2. As per my understanding minutes books are statutory register under section 163.
Does minutes also included in section 209 and they are to be maintained for 8 years.
3. What is the procedure if we have to keep
Statutory register OUTSIDE CITY where registered office of company is situated ?
OR we cant keep them at any place in INDIA.
Pls enlighten.
Neha
nehajaincs@gmail.com
As per section 163 Statutory register can be kept at any place within CITY other than registered office by passing special resolution
As per section 209 books of accounts can be kept at any place in india by filing form 23AA within 7 days. Books should be maintained for 8 years.
My queries are :
1. Which books are covered under 163 and 209. What is the diff between the two.
2. As per my understanding minutes books are statutory register under section 163.
Does minutes also included in section 209 and they are to be maintained for 8 years.
3. What is the procedure if we have to keep
Statutory register OUTSIDE CITY where registered office of company is situated ?
OR we cant keep them at any place in INDIA.
Pls enlighten.
Neha
nehajaincs@gmail.com
10 December 2011
Section 163 speaks about keeping of the following at registered office of the company:
1.The register of members commencing from the date of the registration of the company
2.register and index of debenture holders
3.copies of all annual returns prepared under sections 159 and 160,
4.copies of certificates and documents required to be annexed thereto under sections 160 and 161
Above can be kept at such other place has been approved for this purpose by a special resolution passed by the company in general meeting
Section 209 speaks about:
books of accounts to kept by a company at registered office
books of accounts means:
1.Cash book and bank books for all sums of money received and expended by a company
2.Sales book/register
3.Purchase book/register
4.General ledger containing all assets and liabilities
5.In case of manufacturing mining etc all cost related books as prescribed for such companies as required by central government
where the company has branch office whether in India or outside India
the books of accounts as above to be kept by way of summary of returns at the intervals not more than 3 months
Minutes not included under section 209
1.The register of members commencing from the date of the registration of the company
2.register and index of debenture holders
3.copies of all annual returns prepared under sections 159 and 160,
4.copies of certificates and documents required to be annexed thereto under sections 160 and 161
Above can be kept at such other place has been approved for this purpose by a special resolution passed by the company in general meeting
Section 209 speaks about:
books of accounts to kept by a company at registered office
books of accounts means:
1.Cash book and bank books for all sums of money received and expended by a company
2.Sales book/register
3.Purchase book/register
4.General ledger containing all assets and liabilities
5.In case of manufacturing mining etc all cost related books as prescribed for such companies as required by central government
where the company has branch office whether in India or outside India
the books of accounts as above to be kept by way of summary of returns at the intervals not more than 3 months
Minutes not included under section 209
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Guest
Guest
(Querist)
10 December 2011
Thanks Mr. Hari for your answer to my query.
Pls also clarify my following doubts:
1 Does minutes book of company is to be maintained for 8 years or for the whole life of company.
2. What is the procedure if we have to keep
Statutory register under section 163 OUTSIDE CITY where registered office of company is situated i.e. if registered office is in jaipur and we want to keep in mumbai then whether SR will be passed.
Thanks one again!
Pls also clarify my following doubts:
1 Does minutes book of company is to be maintained for 8 years or for the whole life of company.
2. What is the procedure if we have to keep
Statutory register under section 163 OUTSIDE CITY where registered office of company is situated i.e. if registered office is in jaipur and we want to keep in mumbai then whether SR will be passed.
Thanks one again!
10 December 2011
1.Minutes of all the meetings to be preserved permanently
2.special resolution to be passed at extraordinary general meeting or at annual general meeting to keep the statutory register u/s 163 at Mumbai
2.special resolution to be passed at extraordinary general meeting or at annual general meeting to keep the statutory register u/s 163 at Mumbai
Guest
Guest
(Querist)
10 December 2011
Thanks for your guidance.
But sir,
1. Section 163 says by passing special resolution statutory register names therein can be kept only WITHIN CITY, TOWN OR VILLAGE where registered office of company is situated.
2. Only 5 registers, returns etc are mentioned in section 163 which should be kept at RO of company, does this mean all other registers like register of charge, directors, directors shareholding, attendance, balance sheet, contract in which directors are interested, buy back, dividend etc. can be kept ANYWHERE ALL OVER INDIA.
I am making this query since my company is planning to keep all registers in mumbai. So I can advise them except those registers and annual returns mentioned in sec. 163 they can keep others at mumbai. This is my understanding out of what have you explained.
3. Also with your explanation I can make out that except 'books of account mentioned in section 209' all the registers, records, minutes etc should be maintained by company permanently. Pls correct if my understanding is wrong. I know many companies who are maintaining minutes for 8 years only. I now feel that they have mistaken the provision of maintaining books of account for 8 years. Is their practice wrong ?
Thank you so much for sharing your knowledge.Awaiting your replies on my query soon. thanks in advance.
But sir,
1. Section 163 says by passing special resolution statutory register names therein can be kept only WITHIN CITY, TOWN OR VILLAGE where registered office of company is situated.
2. Only 5 registers, returns etc are mentioned in section 163 which should be kept at RO of company, does this mean all other registers like register of charge, directors, directors shareholding, attendance, balance sheet, contract in which directors are interested, buy back, dividend etc. can be kept ANYWHERE ALL OVER INDIA.
I am making this query since my company is planning to keep all registers in mumbai. So I can advise them except those registers and annual returns mentioned in sec. 163 they can keep others at mumbai. This is my understanding out of what have you explained.
3. Also with your explanation I can make out that except 'books of account mentioned in section 209' all the registers, records, minutes etc should be maintained by company permanently. Pls correct if my understanding is wrong. I know many companies who are maintaining minutes for 8 years only. I now feel that they have mistaken the provision of maintaining books of account for 8 years. Is their practice wrong ?
Thank you so much for sharing your knowledge.Awaiting your replies on my query soon. thanks in advance.
Message likes :
1 times
Guest
Guest
(Querist)
10 December 2011
Thanks for your guidance.
But sir,
1. Section 163 says by passing special resolution statutory register names therein can be kept only WITHIN CITY, TOWN OR VILLAGE where registered office of company is situated.
2. Only 5 registers, returns etc are mentioned in section 163 which should be kept at RO of company, does this mean all other registers like register of charge, directors, directors shareholding, attendance, balance sheet, contract in which directors are interested, buy back, dividend etc. can be kept ANYWHERE ALL OVER INDIA.
I am making this query since my company is planning to keep all registers in mumbai. So I can advise them except those registers and annual returns mentioned in sec. 163 they can keep others at mumbai. This is my understanding out of what have you explained.
3. Also with your explanation I can make out that except 'books of account mentioned in section 209' all the registers, records, minutes etc should be maintained by company permanently. Pls correct if my understanding is wrong. I know many companies who are maintaining minutes for 8 years only. I now feel that they have mistaken the provision of maintaining books of account for 8 years. Is their practice wrong ?
Thank you so much for sharing your knowledge.Awaiting your replies on my query soon. thanks in advance.
But sir,
1. Section 163 says by passing special resolution statutory register names therein can be kept only WITHIN CITY, TOWN OR VILLAGE where registered office of company is situated.
2. Only 5 registers, returns etc are mentioned in section 163 which should be kept at RO of company, does this mean all other registers like register of charge, directors, directors shareholding, attendance, balance sheet, contract in which directors are interested, buy back, dividend etc. can be kept ANYWHERE ALL OVER INDIA.
I am making this query since my company is planning to keep all registers in mumbai. So I can advise them except those registers and annual returns mentioned in sec. 163 they can keep others at mumbai. This is my understanding out of what have you explained.
3. Also with your explanation I can make out that except 'books of account mentioned in section 209' all the registers, records, minutes etc should be maintained by company permanently. Pls correct if my understanding is wrong. I know many companies who are maintaining minutes for 8 years only. I now feel that they have mistaken the provision of maintaining books of account for 8 years. Is their practice wrong ?
Thank you so much for sharing your knowledge.Awaiting your replies on my query soon. thanks in advance.
10 December 2011
You are right for the point No.1
Point No.2 as per section 143 register of charges to be kept at register office
As per section 307 register of directors share holdings shall be kept at registered office and even nature of interest shall be mention in the register of directors
As per section 301 register of contracts shall be kept at registered office
buy back of shares to be kept at registered office
By going through the above provision few registers to be preserved for 8 years other few registers to be preserved permanently
To conclude it is better to change the registered office from one state to other state
Point No.2 as per section 143 register of charges to be kept at register office
As per section 307 register of directors share holdings shall be kept at registered office and even nature of interest shall be mention in the register of directors
As per section 301 register of contracts shall be kept at registered office
buy back of shares to be kept at registered office
By going through the above provision few registers to be preserved for 8 years other few registers to be preserved permanently
To conclude it is better to change the registered office from one state to other state
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