Summary of Proposed Changes in Companies Act 2013

a. Requirement under Section 42 and Rule made thereunder with regard to preparation and filing of the private placement offer letter and form PAS 4 to be discontinued.  b. Disclosures mandated under Rule 13(2) (d) of the Companies (Share Capital and Debenture) Rules, 2014 to be embodied in the Private Placement Application Form.  c. Important … Read more

Memory Chart of Company Act 2013

Chapter I(1-2)PRELIMINARY1. Short title, extent, commencement and application.2. Definitions.Companies (Specification of definitions details) Rules, 2014Chapter II(3-22)INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO3. Formation of company.4. Memorandum.5. Articles.6. Act to override memorandum, articles, etc.7. Incorporation of company.8. Formation of companies with charitable objects, etc.9. Effect of registration.10. Effect of memorandum and articles.11. Commencement of business, etc.12. … Read more

Depreciation Automatic Calculator as per Companies Act 2013

 Automatic  Depreciation Calculator as per Companies Act 2013Format Items Example: S.no Description Category Carrying value  if purchased before 1/4/2014 or purchase cost Date of purchase Salvage value(Upto 5% of cost If sold during the year(Mandatory) Date of Sale(Leave Empty if no Sale) Sale Price(Leave empty if no sale) Useful life Remaining Life. Retained earnings effect Depreciation … Read more

Rate of Depreciation Under Companies Act

RATES OF DEPRECIATION UNDER COMPANIES ACTSCHEDULE XIV[See sections 250 and 350] RATES OF DEPRECIATION__________________________________________________________________________   Single Shift  Double Shift  Triple Shift           Nature of Assets            ————  ————  ————     WDV    SLM    WDV    SLM    WDV   SLM___________________________________________________________________________ I BUILDINGS(a) Buildings(Other than 5.00 1.63 … Read more

Director Report- Companies Act, 2013

Report of Board of Directors should be ‘ATTACHED’ to the Balance Sheet laid beforethe AGM. A Directors’ report is intended to explain to shareholders, the company’s affairs,including its subsidiaries and the nature and scope of company’s business. The report isa summation of activities of the company in the relevant financial year and an ideaabout possible … Read more