Board meetings in small private company

A Pvt Ltd company having paid up capital 1 lakh and annual turnover 20 lakh can be considered as small company. It needs to have minimum two board meetings in year as per companies act 2013. Please reply following queries in this case.

1) Is it financial year (April-March) or calendar year (Jan-Dec)?
2) What should be minimum & maximum days gap between two meetings for small company?
3) Can AGM be considered as normal board meeting while calculating days gap?

Looking forward your positive reply. 
Thank you.
Asked 2 years ago in Income Tax from Kolkata, West Bengal
will confirm you
Shyam Sunder Modani
CA, Hyderabad
1409 Answers
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Dear Sir,

1. The Relevant section uses the word Calender Year and it is to be considered as Jan-Dec.

2. The Minimum gap should be 90 days between 2 meetings but it does not restrict you to keep a meeting if you need to.

3. Does not include AGM.

Trust this clarifies your query. 

Feel free to get back/ call back for any further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB - GEN, CERT. FAFP
Rohit R Sharma
CA, Mumbai
1982 Answers
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Dear Sir,

Dear Sir,

1. Its calendar year.

2. The Minimum gap should be 90 days. No maximum gap.

3. No, AGM cant be considered as normal board meeting. It is shareholders meeting and not of board's meeting.

Regards,
CA Abhishek Dugar
caabhishekdugar@gmail.com
Abhishek Dugar
CA, Mumbai
2348 Answers
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