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PVT. LTD. CO. _CO'S ACT, 2013

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CS Shraddha Singhi
CS Shraddha Singhi

An internal auditor must be a chartered accountant, cost accountant, or other professional. Standards for internal audits are prescribed by the Institute of Chartered Accountants of India. A company must undertake corporate social responsibility activities if its net profit is over 5 crore, turnover is over 1000 crore, or net worth is over 500 crore. It must spend at least 2% of the average net profit of the immediately preceding 3 years on CSR.

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SHRADDHA SINGHI Company Secretary A35182 POSCO DAEWOO India Private Limited
An Internal Auditor is a Chartered Accountant, Cost Accountant or any other professional. Internal Audit standards (SIA) have been prescribed by Institute of Chartered Accountants of india. Turnover (during the preceeding financial year) 200 Crore or more Loans & Borrowings (Any time during the preceeding financial year) 100 Cr. or more
A concept of Rotation of Auditors has been evolved with the new Act. Category of Auditors Paid Up Capital 20 Crore Loans & Borrowings50 Crore Individual Auditor 5 Years Audit Firm10 Years Eligibility of Rotation
RELATED PARTY Director or his relative Key managerial personnel or his relative Any Firm where Director/Manager/Rela tive is a a partner Any body coprporate whose BOD, MD, Manager is accustomed to act according to the direction of director A Public Company in which a Director/Manager or his relative is a member with +2% Shareholding A private Company in which a Director/Manager or his relative is a member/ director Relative as defined under the Companies Act, 2013 1. Mother (including step) 2. Father (including step) 3. Brother (including step) 4. Sister (including step) 5. Son (including step) 6. Sons wife 7. Daughter 8. Daughters husband 9. Spouse
: Transactions subject to the monetary limits
Net Profit 5 Crore or more Turnover 1000 Crore or more Net Worth 500 Crore or more CSR Activited to be undertanken if a Company comes under any of the criteria Spend Atleast 2% of Average Net Profit of Immediately preceeding 3 Year How much to spend on CSR Activities?
Net Profit Calculation Net Profit of a company to mean Net Profit as per its financial statements prepared in accordance with the 2013 Act. Any profit arising from any overseas branch or branches of the company, whether or not operated as a separate company. But excludes
Implementation of CSR Project A Registered Society A Registered Trust
Excluded Activities Activities of the normal course of business Activities exclusively for benefit of Employees and their family members Contribution in any way directly or indirectly to political parties Note Boards Report and Companys Website to contain specified disclosures. CSR projects / programs / activities are required to be undertaken in India only.
S. No. Prescribed Activites for CSR Activities 1 Promoting gender equality and empowering women; 2 Eradicating extreme hunger and poverty; 3 Promotion of education; 4 Reducing child morality and improving maternal health; 5 Ensuring environment sustainability; 6 Employment enhancing vocational skills; 7 Contribution to PM Fund; 8 Such other matter as may be prescribed.
Signing of Annual Return: Paid up Capital 10 Crore or more Turnover50 Crore or more Paid up Capital 50 Lac or more Turnover2 Crore or more Certification of Annual Return
Paid up Capital 50 Crore or more Turnover 5 Crore or more Loans & Borrowings 25 Lac or more CARO to be complied with in case of any of the three threshold limits or or
All Companies having a Paid up Capital of Rs. 5 Crore or More or All Companies having turnover of Rs. 100 Crore or more Mandatory Filing of Balance Sheet and P&L in XBRL format on hitting any of the threshold limit
Vigil Mechanism Company that has borrowed money from banks or public financial institutions 50 Crore or more Key Managerial Personnel - KMP Company that has borrowed money from banks or public financial institutions 50 Crore or more
SHRADDHA SINGHI Company Secretary A35182 POSCO DAEWOO India Private Limited THANK YOU!

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PVT. LTD. CO. _CO'S ACT, 2013

  • 1. SHRADDHA SINGHI Company Secretary A35182 POSCO DAEWOO India Private Limited
  • 2. An Internal Auditor is a Chartered Accountant, Cost Accountant or any other professional. Internal Audit standards (SIA) have been prescribed by Institute of Chartered Accountants of india. Turnover (during the preceeding financial year) 200 Crore or more Loans & Borrowings (Any time during the preceeding financial year) 100 Cr. or more
  • 3. A concept of Rotation of Auditors has been evolved with the new Act. Category of Auditors Paid Up Capital 20 Crore Loans & Borrowings50 Crore Individual Auditor 5 Years Audit Firm10 Years Eligibility of Rotation
  • 4. RELATED PARTY Director or his relative Key managerial personnel or his relative Any Firm where Director/Manager/Rela tive is a a partner Any body coprporate whose BOD, MD, Manager is accustomed to act according to the direction of director A Public Company in which a Director/Manager or his relative is a member with +2% Shareholding A private Company in which a Director/Manager or his relative is a member/ director Relative as defined under the Companies Act, 2013 1. Mother (including step) 2. Father (including step) 3. Brother (including step) 4. Sister (including step) 5. Son (including step) 6. Sons wife 7. Daughter 8. Daughters husband 9. Spouse
  • 6. Net Profit 5 Crore or more Turnover 1000 Crore or more Net Worth 500 Crore or more CSR Activited to be undertanken if a Company comes under any of the criteria Spend Atleast 2% of Average Net Profit of Immediately preceeding 3 Year How much to spend on CSR Activities?
  • 7. Net Profit Calculation Net Profit of a company to mean Net Profit as per its financial statements prepared in accordance with the 2013 Act. Any profit arising from any overseas branch or branches of the company, whether or not operated as a separate company. But excludes
  • 8. Implementation of CSR Project A Registered Society A Registered Trust
  • 9. Excluded Activities Activities of the normal course of business Activities exclusively for benefit of Employees and their family members Contribution in any way directly or indirectly to political parties Note Boards Report and Companys Website to contain specified disclosures. CSR projects / programs / activities are required to be undertaken in India only.
  • 10. S. No. Prescribed Activites for CSR Activities 1 Promoting gender equality and empowering women; 2 Eradicating extreme hunger and poverty; 3 Promotion of education; 4 Reducing child morality and improving maternal health; 5 Ensuring environment sustainability; 6 Employment enhancing vocational skills; 7 Contribution to PM Fund; 8 Such other matter as may be prescribed.
  • 11. Signing of Annual Return: Paid up Capital 10 Crore or more Turnover50 Crore or more Paid up Capital 50 Lac or more Turnover2 Crore or more Certification of Annual Return
  • 12. Paid up Capital 50 Crore or more Turnover 5 Crore or more Loans & Borrowings 25 Lac or more CARO to be complied with in case of any of the three threshold limits or or
  • 13. All Companies having a Paid up Capital of Rs. 5 Crore or More or All Companies having turnover of Rs. 100 Crore or more Mandatory Filing of Balance Sheet and P&L in XBRL format on hitting any of the threshold limit
  • 14. Vigil Mechanism Company that has borrowed money from banks or public financial institutions 50 Crore or more Key Managerial Personnel - KMP Company that has borrowed money from banks or public financial institutions 50 Crore or more
  • 15. SHRADDHA SINGHI Company Secretary A35182 POSCO DAEWOO India Private Limited THANK YOU!