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your QuerieS
lakhs aggregating to be ` 60 lakhs and would 1-4-2014. However, you can dispute the stamp
be the cost of 60K sq.ft of land. The average duty valuation in the same manner as you
cost of land works out to ` 100 per sq.ft. would dispute in case of sale of capital asset
The difference between sale price and cost being immovable property under section 50C.
would be the profit on which you can claim You may also opt to offer income under
other expenses like salary, commission, etc. section 44AD instead of maintaining books of
account. However, if your actual income is
The difference between the stamp duty
value and actual sale consideration would more than the presumptive income computed
be taxable as business income by applying under section 44AD then such higher income
section 43CA inserted with effect from would be subjected to tax.
lll
Corporate Laws
Can a director be appointed directly with as CSR activities in accordance with the
the approval of shareholders in extra section 135 of the Companies Act, 2013.
ordinary General Meeting?
Therefore, CSR projects for employee of the
es, the director can be appointed directly company and their family members will not
Ywith the approval of shareholders in form part of CSR activities.
the EGM/AGM without appointing him as Is a Company required to get approval
additional director, as ultimately the power from board or shareholders for related
to appoint the director in a company lies in party transactions entered into ordinary
the hands of shareholders of the company.
course of business?
Board has only right to appoint director in
few cases such as additional director or to ection 188 of the Companies Act, 2013
fill up a causal vacancy. Sstates that the company will not require the
approval of the board or shareholders if the
Whether CSR projects for employee of the transactions are entered into by the company
Company and their family members will with the related party in the ordinary course
form part of CSR activity? of business and such transactions are on an
arm’s length basis.
he CSR projects or activities only for the
Tbenefits of employees of the company and lll
their family members shall not be considered
162 January 20 To January 26, 2018 u Taxmann’s Corporate Professionals Today u Vol. 41 u 56
