Jayanta Bandyopadhyay (365 Points)
12 April 2025In 2021,EGM adopted resolution u/s.180(1)(c) of CA Act 2013. Now in 2025, we are reducing borrowing limit. Still bank asks for a new resolution as well as CA Certificate U/s.281 of IT Act[ which IT Dept should issue, CA has no authority to issue such Certificate. It is outside their realms per ICAI.
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Benny Swap
(2 Points)
Replied 12 April 2025
The bank may be reinsuring itself. But indeed, under ICAI, CA is not authorized to issue such a form. It makes sense to seek clarification from the tax office itself
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