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A Hindu Undivided Family (HUF) is said to be resident in India if the control and management of its affairs are wholly or partly situated in India. A resident HUF is treated as Resident and ordinarily resident in India if the Karta (inclusive successive karta) satisfies satisfies both of the following conditions (i) he has been resident in India in at least 2 out of 10 years immediately preceding the relevant year (ii) he has been in India for a period of 730 days or more during 7 years immediately preceding the relevant year. If karta doesn’t satisfies any of the above conditions then HUF is treated as Resident but not ordinarily resident. If HUF’s control and management is situated wholly outside India then it is treated as non resident.

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Day 4 Today's questions Q1. Amit is having directorship of the following companies:  Nature of Companies Number of of Companies  Public companies (including 2 dormant companies) 8  Private companies (including 2 subsidiaries of public companies) 10  Alternate director (in a private company) 1  Section 8 company 1  Indicate how many more directorships Amit can undertake in public or private  companies. (4 marks) Q2. A private company and a banking company, can freely accept deposits. (5 mrk) Q3. Draft the necessary resolution on Registration of Charge assuming the borrowing is beyond the board's authority. Answers 1 In terms of the provisions of the Companies Act, 2013, no person, can hold office  as a director, including any alternate directorship, in more than twenty companies at the  same time. For reckoning the limit of directorships in twenty companies, the directorship  in a dormant company is excluded.  Further, out of the above twenty companies, the maximum nu

COMPANY SECRETARY – APPOINTMENT, ROLE AND RESPONSIBILITIES According to clause (c) of Sub-section (1) of Section 2 of the Company Secretaries Act, 1980, a company secretary means a person who is a member of the Institute of Company Secretaries of India. Therefore, ‘Company Secretary’ means a person who is a member of the Institute of Company Secretaries of India (ICSI) and who is appointed by a company to perform the functions of a company secretary. The functions of company secretary have been detailed in section 205 of the Act. Section 203 of the Companies Act, 2013 read with Rule 8 mandates the appointment of Key Managerial Personnel and makes it obligatory for a listed company and every other public company having a paid-up share capital of rupees ten crores or more, to appoint a company secretary. Rule 8A mandates the private company having paid up capital Rs. 10 crore of more to have a whole time Company Secretaries. (Inserted vide MCA Notification dated 03/01/2020 with

Day 6 Today's questions (SBEC) Q1. Write the processor for NSIC single point registration. Q2. Brief about Udyog adhaar.

Day 8  Today's questions SBEC (ch.3 charter doc.) Q1. Promoters’ rights to receive preliminary expenses should have been enshrined in the   articles of the association. Explain. Q2. With the approval of the board, an amount of Rs. 50 crore was spend by Speed Jet Ltd. in producing a commercial film, not covered under its object clause. The film was complete flop and the company lost the amount of Rs. 40 crore. Some of the members of the company objected to such investment not covered by the object clause of the company. They filed a suit in NCLT making the directors personally liable and to make good the loss. Will they succeed. Support your answer with reasons. Q3. A registered office of the company was shifted from one state to another. A labour litigation was pending before the NCLT. So, the employees objected to transfer. Whether the objection of the employees is sustainable? Answer 1 AOA me clause dalna h for compensation of  preliminary expenses incurred by promoters. Ans 2 M

Day 7 Today's questions (share capital) Q1. Aniket has fraudulently sold his shares to two different transferees. Who will be   entitled to the shares in priority? Q2. A company has issued a prospectus to the public stating that the company has paid dividend regularly and the prospectus is silent relating to the sources of profits, i.e., whether trading profits or capital profits. The fact is that the company has incurred losses for all the last 5 years, but the dividend is paid out of realised capital profits (i.e.,   secret reserves), Y, a shareholder, claimed that the prospectus is false. Whether Y’S contention is correct? Discuss. Q3. Public companies can issue ‘shelf prospectus’. Comment Ans 1 Jo pehle Aaya (who claims 1st ) shares Uske Ans 2 Prospectus me Kuch jutna (false info) nhi chaiye + Kuch chutna nhi chaiye (material info.) Divided can't be issued out of capital profit/ capital reserve Ans 3 Shelf prospectus - 1 Baar issue kro or 1saal tak shelf pr Rakh do (i.e.

Day 3 Today's questions Q1. A Company under Section 8 can be registered as a Small Company under the provisions of the Companies Act, 2013. comment. Q2. Satvik is running a dyeing factory seeks your guidance in knowing various responsibilities imposed upon his business and to be complied under the Water (Prevention and Control of Pollution) Act, 1974 Q3. Write short notes on :  (i) Public Liability Insurance  (ii) Industrial Entrepreneurs Memorandum (IEM)  (iii) Enforcement of Trade mark rights  (iv) Labour Welfare Fund for social assistance to workers  (v) Arbitral Award for industrial disputes Answer 1 As per the provisions of the Companies Act, 2013  small company means a company, other than a public company, whose  i. Paid-up share capital of which does not exceed fifty lakh rupees   and  ii. Turnover of which for the immediately preceding financial year does not exceed  two crore rupees   provides that nothing in shall apply to —  a. A holding company or a subsidiary company;

Day 5 Different between CRR and reserve share capital. Today's Questions Q1. Discuss the summary trial by a magistrate under the CRPC, 1973. Q2. Swaraj an employer of ABC Company Ltd appointed Rakesh as an independent   contractor. Discuss under what circumstances Swaraj would be liable for fault of Rakesh. Answer 1. 1. The code of criminal procedure creates the necessary machinery for apprehending the   criminal, investigating the criminal cases, their trial before the criminal court and   imposition of proper punishment.  2. Trial in general means the formal process in a court of law where evidences are taken   against the accused to decide whether he/she is guilty for the stated crime or not.   3. Summary trial is the name given to the trial where cases are disposed off speedily and   procedure are simplified.  4. It can be conducted only by:  • Any chief judicial magistrate  • Any metropolitan magistrate  • Any magistrate of the first class who is specially empowere

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Click Here Check Your Results DECLARATION OF RESULT OF COMPANY SECRETARY EXECUTIVE ENTRANCE TEST (CSEET) - JULY, 2021  The Result of CS Executive Entrance Test (CSEET) held on 10th and 12th July, 2021 would be declared on Wednesday, the 21st July, 2021 at 3:00 P.M. The result along with individual candidate's subject-wise break-up of marks will be made available on the Institute's website: www.icsi.edu Formal e-Result-cum-Marks Statement of CS Executive Entrance Test will be uploaded on the website of Institute: www.icsi.edu immediately after declaration of result for downloading by candidates for their reference, use and records. No physical copy of Result-cum-Marks Statement shall be issued to the candidates. JOINT SECRETARY DIRECTORATE OF EXAMINATIONS कंपनी सचिव कार्यकारी प्रवेश परीक्षा (CSEET) -   जुलाई, 2021 के परिणाम की घोषणा 10 और 12 जुलाई, 2021 को आयोजित CS कार्यकारी प्रवेश परीक्षा (CSEET) का परिणाम बुधवार, 21 जुलाई, 2021 को अपराह्न 3:00 बजे घोषित किया जाएगा

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Income Tax Sections 🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥 Chapter-I (Sections 1-3): Preliminary Section – 1: Short title, extent, and commencement Section – 2: Definitions Section – 3: “Previous year” defined Chapter-II (Sections 4-9A): Basis of charge Section – 4: Charge of income-tax Section – 5: Scope of total income Section – 5A: Apportionment of income between spouses governed by Portuguese Civil Code Section – 6: Residence in India Section – 7: Income deemed to be received Section – 8: Dividend income Section – 9: Income deemed to accrue or arise in India Section – 9A: Certain activities not to constitute business connection in India Chapter III (Sections 10-13B): Incomes which do not form part of total income Section – 10: Incomes not included in total income Section – 10A: Special provision in respect of newly established undertakings in free trade zone, etc. Section – 10AA: Special provisions in respect of newly established Units in Special Economic Zones Section – 10B: Speci

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Daily Answer Writing Practice For Group 1  CS Executive Day1  Hello guys today's questions Answers should be uploaded b/w 7pm to 8pm C-LAW Q1. Mr. Sunil Goyal, a director of XYZ Limited wants to go on foreign trip. He wants to assign his office to the Vice President of the company. Mr. Sunil Goyal seeks your advise whether he can do so. Referrning to the provisions of the Companies Act, 2013 advise him in the matter. Q2. Alok, the Managng Director of Yellow Ltd, borrowed a large sum of money and misappropriated the same. Later, when the lender demanded his money, the company refused to repay, contending that the money borrowed by Managing Director was misappropriated by him and the company is not liable for repayment. Decide, giving reasons, whether the lender would succeed in recovering the money from the company. Q3 Whether equity share already issued can be converted into redeemable preference shares ? Discuss. Have a nice day...... CS-aspirant🙂 Answer   Answer no.1 The given c