Direct Tax Laws & International Taxation - October 2020 MTP

The maximum amount of compensation to which Mr. Shyam is entitled for premature termination of his office shall be (a) ` 1.1194 crores (b) ` 1.51125 crores (c) ` 1.80 crores (d) ` 1.55 crores

The maximum amount that can be paid to Mr. Tushar as per the provisions of Companies Act, 2013 for F.Y. 2020-21 shall be (a) ` 118 lakhs (b) ` 104 lakhs (c) ` 80 lakhs (d) ` 86 lakhs

For removal of Mr. Shyam, which type of resolution was required to be passed and what was the last date till which Mr. Tushar should have been appointed, in case he was not appointed on 1.0 8.2020? (a) Special Resolution and 30.11.2020 respectively (a) Board Resolution and 30.11.2020 respectively (b) Ordinary Resolution and 30.11.2020 respectively (c) Board Resolution and 31.08.2020 respectively

Whether company’s contention for denying inspection to Mr. Jay was correct and if not, what are the consequences of the same? (a) Not correct, as contract of service with a managing director should have been made in writing and kept at registered office of the company. A Ltd. liable to pay ` 25,000 and every officer in default liable to pay ` 5,000 for each default, as a penalty. (b) Partially correct, the member has no right to inspect copy…

What should be the minimum value of net owned funds and unencumbered term deposits that Mela Nidhi Ltd. should have, considering the amount of total deposits? (a) ` 13 lakhs and ` 26 lakhs respectively (b) ` 26 lakhs and ` 26 lakhs respectively (c) ` 10 lakhs and ` 26 lakhs respectively (d) ` 20 lakhs and ` 13 lakhs respectively

Mela Nidhi Ltd. provides locker facilities to its members then how much maximum income it could have earned from such facilities and what maximum amount of dividend it can declare, if there was a default in payment of interest by Mela Nidhi Ltd.? (a) ` 22.5 lakhs and ` 10 lakhs respectively (b) ` 18 lakhs and ` 8 lakhs respectively (c) ` 9 lakhs and ` 4 lakhs respectively (d) ` 18 lakhs and ` 10 lakhs respectively

For how many years, Mr. Raj is not eligible for reappointment as director in Mela Nidhi Ltd. and what amount of deposit Mr. Yash should make along with the notice of his candidature for directorship? (a) 2 years and ` 10,000 respectively (b) 2 years and no deposit is required in case of Nidhi company (c) 5 years and ` 10,000 respectively (d) 2 years and ` 1,00,000 respectively