Earlier than a call is made with regard to creating any contribution to a political celebration. Whether or not immediately or not directly, there are two elementary facets which must be first checked. The at the start requirement is to verify if your organization is a authorities firm. If your organization is a authorities firm, it can’t make any political contribution. Secondly, please verify whether or not not lower than three years from the date of your organization registration has elapsed. Solely then, your organization is allowed to make political alms in any other case there’s a statutory ban. The prohibition contained on this part towards the making of political contributions within the first three years of firm registration. It’s can’t be overcome by a Transferee Firm. As soon as your organization is entitled to make the political contribution, the subsequent necessary facet that must be checked is to see whether or not the political celebration is “a political party is registered under section 29A of the representation of the people act. For the purpose of ascertaining the latest position with respect to any political party. The election commission of India issued a notification which gave a list of political parties as of January 2015. However, it would be better to seek confirmation from the Election Commission of India using the right to information act 2005. Company Registration in Bangalore The amount of contribution proposed to be made and if any contribution has already been made. It should not exceed 7.5% of its preceding financial years. For this purpose the net profits should be computed in accordance with section 198 of the 2013 act. The short point is that in any financial year, the aggregate of all contributions made should not exceed the above limit. Prior to making any contribution, directly or indirectly, to a political party, there must be a meeting of the board of directors. Please note that this subject matter requires a decision to be made at a physically held board meeting. The resolution authorizing the creating of such alms duly progressed at a meeting of the board of directors. It will be deemed to be justification in law for the making. The acceptance of the contribution authorized by it. This provision makes it clear that the justification for making such a contribution is implied in such a resolution. It is necessary to follow the usual procedures relating to calling and holding a meeting of the board of directors as per SS-1 issued by the Institute of Company Secretaries of India under section 118 of the 2013 act. Every such resolution is required to be filled with the ROC within 30 days of passing the resolution. Section 403 of the 2013 act grants in its proviso to sub-section (1) additional time limit of 270 days that from the date by which it should have been submitted, filed, registered or recorded. Thus in the case of Form No. MGT-14 from the date of event. A total 300 days is available for completing the filing or registration requirement. In any case, if the time limit including the additional time limit specified under section 403 of the 2013 act, wherever applicable, has expired, the relevant e-Form or as the case may be the relevant application cannot be filed unless the delay in doing the same has been condoned by the central government as per section 460 of the 2013 act. This aspect covers the “oblique methods of creating political contribution. It is a deeming fiction of the legislation and due to this fact it’s meant to make sure that the ceiling talked about in respect of political contributions should not be breached in disguise as the corporate and its officer in default can’t escape the wrath of its penal clause. The corporate is punishable with effective is prolong to five instances of the quantity. Thus the offence falling below part 182 of the 2013 act is a critical offence and as far as the officer in default is anxious, it isn’t compoundable. Solubilis Company Companies is among the main firm registration consultants in Bangalore. We register all enterprise entities in Bangalore with an inexpensive price.