Daily Archives: August 16, 2015

TDS as per DTAA if No PAN with NRI

Question: Whether TDS is to be deducted @ 20% or as per DTAA  if the NRI did not have PAN  ( Permanent Account Number) ? TDS on payments made to non-residents who did not furnish their PAN can be deducted as per rate prescribed in DTAA and section 206AA cannot be invoked to insist on tax… Read More »

BOARD RESOLUTION TO BE FILED WITH ROC IN MGT 14

LIST OF BOARD RESOLUTION REQUIRED TO BE FILED WITH ROC IN MGT 14       A.   To issue securities, including debentures, whether in or outside India. (In case of shares issue of security means issue of          Letter of Offer). B.   To Borrow Monies. (Borrow Money from any sources including Director) C.… Read More »

Steps To Register New Company

Steps To Register A New Company  Do You Want to start an Indian Company? Apply for the name of the company to be registered by filing Form INC-1 for the same. After that depending upon the proposed company type file required incorporation forms listed below. Form INC-7 or Form INC-2 : Form INC-7 for Application… Read More »

Independent Auditors Report Qualified and Unqualified Draft

Draft Specimen of Independent Auditors Report Qualified and Unqualified options INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ____________  LIMITED Report on the Financial Statements We have audited the accompanying financial statements of _______ LIMITED (“the company”),which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss, the Cash Flow Statement for… Read More »

INDEPENDENT AUDITORS REPORT DRAFT FORMAT

Draft Specimen of  Independent Auditors Report unqualified INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF ____________  LIMITED Report on the Financial Statements We have audited the accompanying financial statements of _______ LIMITED (“the company”),which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended,… Read More »

CARO Audit Report 2015 Draft Format

Draft Specimen of CARO Audit Report 2015 Annexure to the Auditors’ Report [Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ of our Report of even date to the members of ABC Company Limited on the accounts of the company for the year ended 31st March, 2015] On the basis of… Read More »

Limited Liability Partnership Questions and Answers

 What are the steps to incorporate Limited Liability Partnership ? Name reservation: The first step to incorporate Limited liability partnership (LLP) is reservation of name of Limited Liability Partnership . Applicant has to file eForm 1, for ascertaining availability and reservation of the name of a LLP business. Incorporate Limited Liability Partnership : After reserving a name, user… Read More »

Director can not insist participation by electronic mode

Director can not insist participation by electronic mode Q: where companies do not provide the directors with the facility of participation in meetings through electronic mode, can the directors insist on attending the meetings through such mode? Answer:   Section 173(2) provides the option to the director to participate in Board meeting so convened by electronic… Read More »

HARYANA VALUE ADDED TAX AMENDMENT ORDINANCE 2015

HARYANA VALUE ADDED TAX AMENDMENT ORDINANCE, 2015 HARYANA VALUE ADDED TAX (SECOND AMENDMENT) ORDINANCE, 2015 – AMENDMENT IN SECTIONS 2, 16, 34 & 60; SUBSTITUTION OF SECTIONS 8, 15A & 17 AND INSERTION OF SECTION 54A IN HARYANA VALUE ADDED TAX ACT, 2003 NOTIFICATION NO.LEG.9/2015, DATED 3-8-2015 An ORDINANCE further to amend the Haryana Value… Read More »