Category: Government

There is a deep relationship between Political Science and Sociology. In fact, there is so much interdependence between the two that the study of one essentially demands some knowledge of the other. Modern Political Scientists have used the knowledge of Sociology for developing several approaches, concepts and theories of Politics.All of us know that the State in its early stages was more of a social than political institution. The political is still embedded in social. The study of State and other political institutions requires knowledge of the social system in which these are at work.As such Politics has to take the help of Sociology. Likewise, since political institutions play a deterministic role in the social system, Sociology needs knowledge of Political Science. Image Source: ce85d19d27bcd4580648-f08455577a10cebd8677ed53887ae045.r1.cf2.rackcdn.com ADVERTISEMENTS: Politics is the science…

The government appointed a committee under the chairmanship of Mr. Kelkar to examine the structure of direct and indirect taxes and to make recommendations for making the tax system more broad-based, elastic and simplified.Major recommendations of this committee are the following:a. Income tax exemption limit be raised to Rs. 1 lakh from Rs. 50,000 presently. ADVERTISEMENTS: b. Income tax rates proposed at 20% for earnings of Rs. 1-4 lakh and 30% for over Rs. 4 lakhs.c. Tax threshold for senior citizens and widows at Rs. 1.5 lakh. Image Source: c1.staticflickr.comd. Abolition of dividend tax, long-term capital gains tax and wealth tax. ADVERTISEMENTS: e. All exemptions on savings and other income, except for handicapped, be lifted.f. Phasing out tax breaks on home loans in 3 years.g. No standard deduction for salaried…

Legal Provisions Regarding the Payment of Dividend are given below: 1. Declaration of Dividend: Dividend for a financial year may be declared only when the Balance-sheet and Profit and loss account of the company are presented to the shareholders at the annual general meeting. It is the prerogative of the board of directors to recommend the rate of dividend to be distributed. The members have the right to approve or lower the same. Image Source: kiplinger.com ADVERTISEMENTS: But in no case shareholders can increase the amount. Usually, dividend is declared at the annual general meeting. But a company which has not declared dividend at an annual general meeting may do so at a subsequent general meeting. A company which has declared dividend at a general meeting is not permitted to…

Only individual who has been allotted a Director Identity Number (DIN) under section 266B.The appointment of directors is made in the following manner: 1. Appointment of Directors by Promoters: The first directors of the company are usually appointed by the promoters in the manner laid down by the company’s articles. Their names are usually given in the company’s articles. Where the articles do not provide for the appointment of first directors, the signatories to the memorandum, who are individual, shall be deemed to be the first directors of the company subject to the regulations of the company’s articles (Sec. 254) . Image Source: thestar.com ADVERTISEMENTS: The first directors can hold office only till the first annual general meeting of the company when they will be replaced by directors appointed by…

Specific Provisions Regarding Government Companies in Corporate Law are as follows:(1) The auditor of a government company is appointed or re-appointed by the Comptroller and Auditor General of India. The Comptroller and Auditor General of India has the power to direct the manner in which the company’s accounts are to be audited by the auditor and give such other instructions regarding any matter relating to the performance of his functions as such. ADVERTISEMENTS: He can also conduct a supplementary test audit of the company’s accounts by officers appointed by him. The auditor must submit a copy of his report to the Comptroller and Auditor General and such report, with his comments thereon, shall be placed before the annual general meeting of the company.(2) Where Central Government is a member of…

The following are the requisites for calling and conducting a valid general meeting: 1. Proper Authority: The authority to call a general meeting is the board of directors of the company. The notice of the meeting should be issued under their authority, granted at a duly constituted meeting of the board or passing a resolution by circulation. A single director has no power to convene a meeting. The secretary of the company has no authority to call a general meeting unless the Board resolves and authorises him to do so. Image Source: bluetext.com ADVERTISEMENTS: In case the meeting of the Board of directors itself is unlawful e.g. where rightful directors are prevented from attending the directors’ meeting, the decision taken by the Board at such meeting to call the general…

A company has an inherent power to alter its articles. Section 31 of the Companies Act conferred the power of alteration to the company which states that a company may alter its articles by passing a special resolution to this effect. A company may even change its Articles with retrospective effect.Any provision making Articles unalterable is regarded as bad in law. Company cannot deprive itself, by an express provision in the Articles or independent contract, of the power to alter its articles. However, there are certain limitations or restrictions on the power of the company to alter its articles of association. Image Source: cdn.indiafilings.com ADVERTISEMENTS: These are as follows:1. Articles can be altered only by a special resolution. Articles can never be altered by an ordinary resolution even if they…

Political Sociologists make a clear distinction between the state and civil society. The former is the sovereign organized single political community of all the people living in a definite territory who have an organized government which makes laws (Legislative function performed by the Legislature) enforces the laws (Executive function performed by the Executive) and interprets and applies laws to specific cases (Judicial functions performed by the Judiciary). State is the sovereign community of all the people and its government is the coercive structure which makes and implements authoritative laws, rules policies, decisions and punishments.Against this Civil Society means all the non-government, private, economic, social, cultural, moral recreational and other such associations and institutions of the people. “Civil Society works outside the state structure and belongs to the realm of autonomous…

The following are the major limitations of the Elite Theory:1. Firstly, Elite theory wrongly assumes inequality as the basis of society. Fundamentally all are equal in the sense that all are capable of developing their faculties and through these occupy any or every public office. No one is inherently more able and wise than others. The difference in intelligence and qualities is that of degree and not of kind. As such the division between the elite and the masses is not organic. ADVERTISEMENTS: 2. The theory wrongly reposes all faith in the ability of the elite to the total exclusion of the ability of the masses.3. The elite theory involves an inherent and in-built thesis in favour of totalitarian political systems. Image Source: mediatheorystudies.files.wordpress.com4. It is definitely opposed to the…

The concept of Legitimacy is inseparably tied up with the concept of Authority. Infect, legitimacy is the supreme quality of Authority. The ability of a political system to effectively implement its laws and policies in the society and the support that the authority-holders get from the people, depends to a very large extent on the degree of legitimacy that the political system in general and the authority-holders, in particular, enjoy.The effectiveness of authority depends upon the degree of legitimacy that it has at its back. People respect and enduringly obey authority when it enjoys a high level of legitimacy. An authority enjoying less legitimacy is bound to remain inefficient. ADVERTISEMENTS: Authority involves the exercise of legitimate power over the people. Without legitimacy authority takes the form of power or even…