MCA has notified the Companies (Incorporation) Third Amendment Rules, 2018 which shall come into force on the date of their publication in the Official Gazette i.e 27-07-2018. For the purposes of these rule, the term “resident in India” means a person who has stayed in India for a period of not less than 182 days during the immediately preceding Financial Year replacing the word ‘Calendar Year. Further, while counting the number of days of stay of a director in India for the financial year 2018-2019, any period of stay between 01.01.2018 till the date of notification of this rule shall also be counted.
The requirement of Affidavit from first directors and subscribers at the time of incorporation has been done away with and Declaration on a plan papers from Subscribers and First Directors shall suffice the purpose.
The requirement of Affidavit from first directors and subscribers at the time of incorporation has been done away with and Declaration on a plan papers from Subscribers and First Directors shall suffice the purpose.
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