Question: Whether auditor can sign the auditor report and financial statements after 06.09.2019?

I.      *Provision of Holding of AGM:*

As per provisions of Section 101, A general meeting of a company may be called by giving not less than clear 21 days notice either in writing or through electronic mode.

II.      *Shorter Notice:*
A General Meeting May Be Called After Giving Shorter Notice Than That specified in this sub-section if consent, in writing or by electronic mode, is  given by not less than 95% of the members entitled to vote thereat;

Note: If a Company received consent of 95% of the member entitled to vote then they can hold Board Meeting even on 29.09.2019 and call AGM on 30.09.2019.

III.      *Date of Signing of Balance Sheet:*

As per guidelines of ICAI Auditors have to generate UDIN at the time of signing of Auditor Report and Financial Statement.

Therefore, if auditor Sign Financial statements on or before 06.09.2019 then on same date Company can issue clear 21 days notice to shareholders of Company;

However, if auditor signs financial statement after 06.09.2019 then company can hold AGM only on short notice.

Note: If company hold AGM on shorter notice then consent of Members as mentioned above is mandatory.

Therefore, one can opine that as per Section 101, 129 of Companies act, 2013 read with ICAI guidelines of UDIN;
A Statutory auditor can sign the auditor report and financial statement even after 06.09.2019 and up to 29.09.2019 without any non compliance of law and simultaneously company can hold AGM by consent of shareholders of Company.

https://taxpedia.net/dont-share-income-tax-e-filing-account-password-with-bankers-says-income-tax-dept/


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It is updated by Direct Tax Committee #ICAI to query raised by me that *"they have NOT yet submitted any representation* for extension of Due date for Tax audit and ITRs due on 30th September 2019 to FinMin or CBDT"

For information.

#TaxAudit #incometaxreturn

https://twitter.com/atulmodani/status/1170996657757929472?s=19

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https://t.co/oAtbIt0GPP https://t.co/rpNhNWvcZp

Multipurpose Empanelment Form date extended till 20th September, 2019. The last date for submission of Declaration is 25th September, 2019.


The last date for submission of MEF for Jammu & Kashmir is 30th September, 2019 alongwith Declaration

https://taxpedia.net/gst-council-likely-to-exempt-taxpayers-with-turnover-upto-2-crores-from-filing-of-annual-return-for-fy-2018-19-cnbc/


*GST Council likely to exempt Taxpayers with Turnover Upto 2 Crores from filing of Annual Return for FY 2018-19- CNBC*

CBDT relaxes time condition of 12 months for compounding of offences as one time measure


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Welcome step of user feedback by @IncomeTaxIndia

#CBDT starts online feedback of taxpayers to make the e filing process faster and simpler


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Tax Audit Due Date Extension

Direct Taxation Committee of the ICAI has decided to represent for extension. Representation will be submitted on Monday.

CA Chandrashekhar Chitale CCM

For information

https://www.icai.org/new_post.html?post_id=15755

FAQs on SSP Portal of ICAI

*Tax Audit Update *
Today ICAI submitted representation for extension of due date till 30 November 2019.
I am optimistic for positive decision. However, top authority is abroad. Issue is timing of decision - now or last week!

Please keep on tempo of audits on. It will help you, in any case.

*CA Chandrashekhar Chitale CCM *

Please spare your 5 minutes , participate in ICAI’s Survey on GST Implementation in India


https://t.co/JGiPuzmFJY

*UDIN Time Limit*
Today Council has decided to allow 30 days time from the date of issuance. This time limit is till 31 December 2019. Thereafter time limit will be 15 days.
Scheme for cases of default is under consideration.
*CA Chandrashekhar Chitale CCM*

https://taxpedia.net/icai-announcement-extension-of-time-limit-of-udin-generation-from-15-days-to-30-days-one-time-relaxation/amp/?__twitter_impression=true


*One Time Relaxation for Certificate / Report / Document signed between 20th August, 2019 to 31st December, 2019.*

With condition of UDIN so generated has to be communicated to “Management” or “Those Charged with Governance” for disseminating it to the stakeholders from their end.