What is sub section 3 of section 134?
(6) The Board’s report and any annexures thereto under sub-section (3) shall be signed by its chairperson of the company if he is authorised by the Board and where he is not so authorised, shall be signed by at least two directors, one of whom shall be a managing director, or by the director where there is one director …
Who can Signed balance sheet?
As per Section 134(1), the Chief Financial Officer and the company secretary of the company, wherever they are appointed needs to sign the financial statement.
What is directors Responsibility Statement as per Companies Act?
Statement of director responsibility W.r.t Company and description of accounting standards and policies of the company and other related duties of director in the company. Description Of maintenance of financial records for the company and furnish details about the same.
What is Section 137 of Companies Act, 2013?
Under Section 137 of the Companies Act, 2013 companies are required to file its Audited financial Statement in Form AOC-4 within 30 days of Annual General Meeting of the Company. There are different forms prescribed for different class of companies.
On which company section 134 is not applicable?
Section 134(3)(p) shall not apply to a Government Company in case the directors are evaluated by the Ministry or Department of the Central Government which is administratively in charge of the company, or, as the case may be, the State Government, as per its own evaluation methodology; vide Notification No.
Who signs first auditor or director?
Private companies The directors appoint the first auditor of the company. The members can then appoint or reappoint an auditor each year at a meeting of the company’s members. This should be done within 28 days after the directors send or should have sent the accounts to the members.
Can CA certify unaudited balance sheet?
You can’t certify unless you audit balance sheet and P&L. 18 March 2021 so a CA can now certify only audited balance Sheets & what about non-audit clients who require CA certification for Bank Loan purposes.
Is MGT 9 mandatory?
In accordance with the general practices, every company is required to prepare the extract of the annual return in Form MGT-9 and that too before the preparation of actual Annual Return in E-form MGT-7 which is submitted to ROC within 60 days of AGM.
Why do we file MGT 7?
MGT 7 is an electronic form that is allocated to all the companies by the Ministry of Corporate Affairs for filing details of their annual return. The Registrar of Companies uses to maintain this e-form via electronic mode and on the basis of the statement of correctness given by the company.
What do you understand by Sec 135 of the Companies Act 2013?
Section 135(1) of the Act states that every company having the specified net worth, turnover, or net profits must establish a CSR committee. Thus, section 8 companies must also establish a CSR committee and comply with CSR provisions when it meets the specified net worth, turnover, or net profits.
What is net profit and what it shall not include for the purpose of Section 135 of the Companies Act 2013?
(1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting …
Can balance sheet be signed on Sunday?
Balance sheet can be signed on holiday or sunday. There is no problem as far as income tax is concerned.
Can your accountant also be your auditor?
Can my company’s accountant be its auditor? Your accountant can act as the company’s auditors if they: don’t fall into one of the disallowed categories (see ‘Who can my company appoint as an auditor?’ above);
Can CA attest project report?
A CA cannot certify a project report. Who can certify something that depends on future actions. As per CA institute guidelines, a CA cannot attest something which depends on future actions which are not in out control.
Can CA give provisional balance sheet?
Yes, he can. But he needs to mention on the balance sheet at that it is unaudited.
What is the difference between MGT 7 and MGT 9?
MGT-9 must be prepared & annexed with Directors Report by the company. Annual Return form MGT-7 must be published by the company on its website and the link for the same shall be provided with the company’s Director’s Report.
What is form AOC 4 and MGT 7?
However, e-Form AOC-4 is used to file the Financial Statements of the company along with Directors Report and other required attachments including Annual Return. e-Form MGT-7 is used to file the Annual Return of the company.
What is the difference between MGT 7 and MGT-7A?
As per Section 11(1) of the Companies (Management and Administration) Rules, 2014, all companies must file their annual returns vide form MGT-7, while OPCs and small companies must file their annual returns in form MGT-7A.