Tag Archives: section 138

Director- Vigilance & Anti-Corruption, Govt of Tamilnadu -specified u/s 138 of Income Tax Act

MINISTRY OF FINANCE (Department of Revenue) [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION New Delhi, the 30th of March, 2017 S.O. 1056(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961, the Central Government hereby specifies Director, Vigilance and Anti-Corruption, Government of Tamilnadu for purposes of the… Read More »

Dishonour of post-dated cheques covered by section 138 of Negotiable Instruments Act

whether in the facts of the present case, the dishonour of a post-dated cheque given for repayment of loan installment which is also described as “security” in the loan agreement is covered by Section 138 of the Negotiable Instruments Act, 1881 (“the Act”). Held Dishonour of cheque in the present case being for discharge of… Read More »

CBDT clarify disclosure of information u/s 138

F. NO. 225/120/2016/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 21st of September, 2016 Subject: Providing information under section 138 of Income-tax Act, 1961- clarification in respect of Notification No. SO 576 dated 23.05.2003 issued by CBDT- regd.- Section 138 of the Income-tax Act,… Read More »

Companies (Accounts) Amendment Rules 2016 Notified

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th July,2016 G.S.R. 742(E).— In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with section 469 of the Companies… Read More »

No need to send individual notices to Directors u/s 138 of Negotiable Instruments Act

Held In our view, Section 138 of the Act does not admit of any necessity or scope for reading into it the requirement that the directors of the Company in question must also be issued individual notices under Section 138 of the Act. Such directors who are in charge of affairs of the Company and… Read More »

SEBI issued Regulations in case of dissenting shareholders

CONDITIONS AND MANNER OF PROVIDING EXIT OPPORTUNITY TO DISSENTING SHAREHOLDERS   THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, February 17, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th February, 2016 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (SECOND… Read More »

All directors liable for cheque dishonouring as they were involved in day to day management of accused Company

Section 138, read with section 141, of the Negotiable Instruments Act, 1881 Subject :-Dishonour of cheque for insufficiency etc., of funds in account Facts of the Case :- Appellant had filed a complaint against accused company and its directors for dishonour of cheque issued by it .High Court by impugned order quashed proceedings in respect… Read More »

BOOKS OF ACCOUNT OF COMPANY

BOOKS OF ACCOUNT OF COMPANY OBLIGATION OF THE COMPANY TO MAINTAIN BOOKS OF ACCOUNT Provisions relating to accounts of companies are dealt with under Chapter IX (sections 128 to 138) of the Companies Act, 2013 (hereinafter referred to as ‘the Act’/’the 2013 Act’). Section 128(1)/(2) of the Act deals with obligations of company to maintain… Read More »