DRAFT BOARD RESOLUTION FOR AVAILING OF CORPORATE INTERNET BANKING


DRAFT-BOARD-RESOLUTION-AVAILING-CORPORATE-INTERNET-BANKING

DRAFT Board Resolution for Availing of Corporate Internet Banking


The Central Board of Direct Taxes, vide notification S.O.No.493(E) dated 13.3.2008 have notified that all the companies are required to pay the taxes electronically. In the light of the above referred notification of CBDT, Board of Directors accorded their consent to avail the Corporate Internet Banking facility for the online payment/deposition of TDS, Advance Tax, Income Tax, Dividend Distribution Tax and various other taxes and passed the following resolution unanimously :

RESOLVED THAT:

(A)    The Company do avail the ‘Corporate Internet Banking Service’ over Internet Channel, by whatever nomenclature it may be referred to now or ever, for the Current Account bearing No............... opened with ............ Bank at their ............................. Branch and the company do accept such terms, regulations, conditions, stipulations laid down by ............... Bank, from time to time, for the purpose.
(B)    The Company do execute necessary agreement form(s), authority letter(s) and any other related documents from time to time for this purpose.
(C) Shri ............................... and ............................. of the company, be and are hereby authorized to receive the Customer login ID and PIN mailers to access the Corporate Internet Banking facility.
(D)   Shri ............................... and ........................... of the company, are empowered by the Company jointly in respect of the Company’s Accounts to accept, sign, execute, deliver and complete all documentation, agreements, accounts opening forms, variation in any terms and conditions, nominate, substitute, revoke and vary mandate etc. from time to time and on behalf of the Company, be and is hereby authorized to apply for and avail of the ‘Corporate Internet Banking’ facility provided by ........... Bank and do all that they have been authorized, electronically using their User Name and password.
(E)   Each of the above authorized officials is also authorized to operate electronically transactions with ........................ Bank on behalf of the Company through ‘Corporate Internet Banking’ service on the company’s accounts including by causing a debit balance in the Company’s account(s) with .......... Bank and/or continually operate the account(s) within the permissible limit when overdrawn, as per the access specifications authorized in the Corporate Internet Banking form.
(F)       .................... Bank be and is hereby authorized to accept all valid instructions thourgh the ‘Corporate Internet Banking’ service on the company’s accounts including by causing a debit balance in the Company’s account(s) with ............ Bank and/or continually operate the account(s) within the permissible limit when overdrawn, as per the access specifications authorized in the Corporate Internet Banking form.
(G)        ................... Bank be and is hereby authorized to accept all valid instructions though the ‘Corporate Internet Banking’ service for the company.
(H)   The Company’s proposal to indemnify the ................. Bank in the event of any wrongful use or misuse of the Corporate Internet Banking service, be and is hereby approved.
Previous
Next Post »

1 comments:

Write comments
Hemen Parekh
AUTHOR
May 12, 2016 at 11:53 PM delete

An " Aadhar " for Corporate ?

How many types of NUMBERS, do Indian Companies need to register and acquire , to do business ?

Writing in MINT ( 02 May 2016 ), Narayan Ramchandran quotes Manish Sabharwal , who has researched and listed the following :

# Corporate Identity Number........................................... ( 21 digits )
# Tax-payer Identification Number for commercial taxes...... ( 11 digits )
# Service Tax Number...... ( Alpha-Numeric ) .................... ( 15 digits )
# Permanent Account Number - PAN ( Alpha-Numeric )........( 10 digits )
# Central Excise Number.....................................( PAN + 2 Characters )
# Provident Fund Number .................( Alpha-Numeric )...... ( 11 digits )
# Profession Tax Registration Certificate ( Numeric )............... ( 9 digits )
# Profession tax Enrollment Certificate ( Numeric )............. ( 9 digits )
# Income tax Deduction/Calculation Number ( Alpha-Numeric ) ( 10 digits )
# ESIC Number ( Numeric )................................................ ( 17 digits )
# Labour Department Registration(State specific alphanumeric) (13 digits )
# Importer-Exporter Code ( Numeric )................................. ( 10 digits )
# Shops/Establishment Reg Number ( alphanumeric )............ ( 20 digits )
# Contract Labour Registration ( alphanumeric ).................. ( 15+ digits )
# Labour Welfare Board ( Numeric )..................................... ( 5 digits )
# Higher Court Case Number ( Alphanumeric )..................... ( 12 digits )

Now , CBDT and MCA are in the process of integrating their back-end operations , to provide ONE SIMPLE IDENTITY to companies, doing away with the above multiple numbers

Without doubt , this long overdue simplification will make it easy to do business in India

But , it seems , that each State will have unique number ( for each Company registered in its territory ), as far as GST is concerned

I hope , someday soon , an India Start-Up comes up with a digital solution ( pasting, a unique RFID sensor on the forehead of each child at birth ? ) to get rid of all the CARDS , a person needs to acquire in a life-time , as mentioned in my following blog :
-------------------------------------------------------------------------------------

Wednesday, 30 January 2013

Raining Cards ?

Some 70 years ago , I had only one card – the Ration Card

I was using it to buy , either wheat or bread or war-disposal biscuits from a Shivaji Park ration shop in Mumbai

Now I have,

* Driving License Card

* Senior Citizen Card

* Voting Card

* Credit Card

* PAN Card

* Aadhar Card ( UID )

Apart from sundry cards issued by private / commercial companies and NGOs

As if this was not enough , Central Government of India wants me to carry one more card !

National Population Register ( NPR ) is all set to issue,

Resident Identity Card ( RIC )

It will contain demographic and biometric details of the owner and will be issued to 820 million adult Indians at a cost of Rs 5,552 Crores

I believe only those holding RIC will be entitled to receive subsidized food-grains under the Food Security Act

How about a card to replace all the above-mentioned cards ?

-------------------------------------------------------------------------------------
www.hemenparekh.in / blogs
13 May 2016



Reply
avatar