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whether the Video conference meeting will be called valid If due to some technical problem, the Video Recording of the meeting could not be retrieved? What is the remedy?
Even if the video recording of a board meeting held via video conferencing is lost due to technical issues, the meeting can still be considered valid. The key is whether proper records and documentation of the meeting are maintained. Here’s what you need to know: 1. Validity of the Meeting Meeting MRead more
Even if the video recording of a board meeting held via video conferencing is lost due to technical issues, the meeting can still be considered valid. The key is whether proper records and documentation of the meeting are maintained. Here’s what you need to know:
1. Validity of the Meeting
Meeting Minutes & Attendance:
The validity of the meeting primarily depends on the accurate and complete minutes of the meeting and the attendance register. If these documents are properly maintained and reflect that all required directors participated and resolutions were passed, the meeting remains valid.
Board Resolution Certification:
A certificate from the Company Secretary or another authorized officer can be issued, stating that the meeting was duly held, even if the video recording is unavailable. This certificate serves as additional evidence that the meeting took place as per the legal requirements.
2. Remedies for Lost Recording
Maintain Alternative Documentation:
Ensure that all decisions, discussions, and resolutions are recorded in the meeting minutes. Supplement this with attendance records and any written communications exchanged during the meeting.
Issue a Certificate:
The company may issue a formal certificate by the Company Secretary confirming that the meeting was conducted properly in accordance with the Companies Act, 2013, and the Companies (Meetings of Board and its Powers) Rules, 2014.
Backup Procedures:
As a preventive measure, companies are encouraged to have robust IT systems and backup procedures in place to minimize the risk of losing the video recording in future meetings.
Conclusion
Even if technical issues prevent the retrieval of the video recording, the meeting remains valid if proper minutes and supporting documentation are maintained. The remedy lies in relying on these alternative records and, if necessary, obtaining a certificate from the Company Secretary attesting to the proper conduct of the meeting.
See lessIf a director of a company requests for participation in a meeting through video conferencing, is it mandatory for the company to provide the video conferencing facility, especially where all the other directors are participating in person?
As per Rule 3 of the Companies (Meetings of Board and its Powers) Rules, 2014, a director has the right to participate in a Board Meeting via video conferencing (VC) or other audio-visual means (OAVM) unless specifically restricted by the Articles of Association (AoA) of the company. Is it MandatoryRead more
As per Rule 3 of the Companies (Meetings of Board and its Powers) Rules, 2014, a director has the right to participate in a Board Meeting via video conferencing (VC) or other audio-visual means (OAVM) unless specifically restricted by the Articles of Association (AoA) of the company.
Is it Mandatory for the Company to Provide VC Facility?
✅ Yes, if a director requests it in advance
🚫 No, if the Articles of Association prohibit it
Key Compliance Points:
Conclusion
If a director requests participation through video conferencing in advance, the company is required to provide the facility—unless restricted by the AoA. This ensures corporate governance, inclusivity, and compliance with the law.
See lessWhat is the interest in section 184(2) of the Companies Act, 2013 that has to be disclosed by the director?
Under Section 184(2) of the Companies Act, 2013, every director is required to disclose their interest in any company, body corporate, firm, or other entity in which they hold a stake. This is to ensure transparency and prevent conflicts of interest. When is the disclosure required? At the first BoaRead more
Under Section 184(2) of the Companies Act, 2013, every director is required to disclose their interest in any company, body corporate, firm, or other entity in which they hold a stake. This is to ensure transparency and prevent conflicts of interest.
When is the disclosure required?
What needs to be disclosed?
A director must disclose their direct or indirect interest in:
How should the disclosure be made?
What happens if a director fails to disclose?
If a director does not disclose their interest as required under Section 184(2), they may face:
Key Takeaway: If you are a director in a company, always ensure timely disclosure of your interests to avoid legal consequences and maintain corporate governance compliance.
See lessWhat are the consequence of late filing of return after due date or say late return?
Filing your Income Tax Return (ITR) after the due date can lead to several consequences under the Income Tax Act, 1961. It's essential to be aware of these implications to avoid unnecessary penalties and interest charges. Interest on Outstanding Tax – Section 234A If there's any unpaid tax after theRead more
Filing your Income Tax Return (ITR) after the due date can lead to several consequences under the Income Tax Act, 1961. It’s essential to be aware of these implications to avoid unnecessary penalties and interest charges.
If there’s any unpaid tax after the due date, interest is levied at 1% per month or part thereof on the outstanding amount. This interest accrues from the day immediately following the due date until the actual filing date or full payment of tax, whichever is earlier.
Example:
A late filing fee is imposed based on the date of filing and total income:
Note: No late filing fee is applicable if the total income does not exceed ₹2,50,000.
In cases where the taxpayer willfully fails to file the return, the Income Tax Department may initiate prosecution, leading to penalties and possible imprisonment, depending on the amount of tax evaded.
Recent Changes Post Budget 2025
The Budget 2025 introduced provisions for filing Updated Returns to encourage voluntary compliance:
Read:What are the due dates for filing Income Tax Returns?
What is the penalty If I fail to furnish my Income Tax return within the due date?
Can an Income Tax return be filed after the due date?
See lessWhat are the investment eligible for section 80 deductions under income tax act?
The Income Tax Act offers tax relief under several subsections of Section 80. Here’s a breakdown of the key investment options: Investment Option Description Relevant Section Life Insurance Premium Premiums paid on life insurance policies for self, spouse, and children. Section 80C Employee ProvidenRead more
The Income Tax Act offers tax relief under several subsections of Section 80. Here’s a breakdown of the key investment options:
Key Points to Remember:
- Section 80C is the most widely used deduction and covers a variety of investments up to an overall limit (currently ₹1,50,000).
- Section 80CCF provides additional benefits for investments in notified infrastructure bonds (with a separate cap).
- Section 80CCD offers benefits on contributions toward pension schemes, with an extra ₹50,000 available exclusively under Section 80CCD(1B).
- Ensure that you have proper documentation (receipts, certificates, statements) for each of these investments when filing your Income Tax Return.
- These deductions help in reducing your taxable income and can significantly lower your tax liability.
See lessWhat is the deduction of investment made in NPS scheme?
Investments in the NPS offer attractive tax benefits under the Income Tax Act through two key provisions: 1. Deduction Under Section 80CCD(1) Who Can Claim: All individual taxpayers (both salaried and self-employed). What It Offers: You can claim a deduction on your contribution to the NPS, which isRead more
Investments in the NPS offer attractive tax benefits under the Income Tax Act through two key provisions:
1. Deduction Under Section 80CCD(1)
2. Additional Deduction Under Section 80CCD(1B)
Summary Table
Key Takeaways
What are the investment eligible for section 80 deductions under income tax act?
See lessHow to calculate capital gain on future and options trading?
In recent updates, the method to compute income from futures and options (F&O) trading (treated as speculative business income) has shifted from the traditional mark-to-market approach to a turnover-based method. Here's how it works: Step 1: Determine Your Turnover Turnover Calculation:For FRead more
In recent updates, the method to compute income from futures and options (F&O) trading (treated as speculative business income) has shifted from the traditional mark-to-market approach to a turnover-based method. Here’s how it works:
Step 1: Determine Your Turnover
For F&O trading, the turnover is now defined as the aggregate sale consideration of all contracts you traded during the financial year.
Step 2: Deduct the Purchase Cost
From the total turnover, subtract the total cost of acquiring these contracts (the purchase price paid when entering the contracts).
Step 3: Deduct Direct Expenses
Deduct all direct expenses incurred in trading, such as:
Step 4: Arrive at Your Net Profit or Loss
The result after these deductions is your net profit (or loss) from F&O trading. This figure is treated as speculative business income and is taxed at your applicable business income slab rates.
Summary Table
Key Points to Remember
Read: How to calculate capital gain on intra-day trading of shares?
See less