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Experts Query Daily Digest : 30 September 2014
Accounts
Posted by : DHANDAPANI.S
Posted On : 9/30/2014 6:00:15 PM
Fixed asset valuation
Registration Charges and Insurance Charges on date of Purchase of a Vehicle includes in the Cost of that Vehicle or not. anyone clarify my doubt.
 

Posted by : Rashid Ali
Posted On : 9/30/2014 5:28:44 PM
Irr
IF IRR SHOWS 95% , THEN WHAT IS THE MEANING.

PLEASE ADVICE
 
Posted by : saideeppulipaka
Posted On : 9/30/2014 3:59:06 PM
Projection
please give some tips or guidelines in preparing projections for bank loans etc
 


Posted by : Anonymous
Posted On : 9/30/2014 2:46:26 PM
Chalenging accounting
If one co-operative spinning mill has given all working contract regarding mill to another person but all the transaction should be look such type that all transaction has been made by mill.
Then what a/c entry will pass.....
 


Posted by : Anonymous
Posted On : 9/30/2014 12:20:30 PM
Trial balance
Dear Sir ,

What is Trial Balance?

What is the Need of Trial Balance in Accounting ?

Kindly Explain.......


 


Posted by : Anonymous
Posted On : 9/30/2014 11:53:09 AM
Advise on accounting software solution as per our need
We have been ( Trading ) selling at Snapdeal, Homeshop18, Naaptool, Paytm, and other marketplaces + B2B & B2C
We are facing problem in payment reconciliation,

eCommerce process is as follows,

Once order is received in our panel,
We perform the following functions,
1. COD orders dispatched from our warehouse through pre-designated logistic partners of eCommerce marketplace.
2. Goods delivered and logistic company bring money back,
a. this confirmed delivery confirms pre-decided commission of eCommerce marketplace company ( 20% approx) + logistic charge ( 25% approx) + VAT 12.5%
b. If client is not available or refuses to accept the order, logistic partners bring the material back to our warehouse,
c. this confirms reverse logistic charges to logistic partners but no pre-decided commission to eCommerce marketplace company.
d. If material is broken or client dislikes it, purchaser can return the material back to the seller through logistic partner designated by eCommerce marketplace Co.
e. this returned material is delivered in the warehouse of the seller,
f. this warehouse delivery confirms pre-decided commission of eCommerce marketplace company ( 20% approx) + logistic charge ( 25% approx) + reverse logistic charges ( 25% approx) to logistic partners


We face problems in product wise account reconciliation as we receive payments twice in a month called payment cycle.

We want software to print invoices with the panel input once an order comes in the panel ( eCommerce market place e.g. Snapdeal, Paytm, Flipkart, Bag it Today, Pepperfry, Shopclue, etc. )

Our excel file is attached herewith for your kind consideration.from panel.

Pls advise if you can give any advise on available software solution who can meet our criteria along with regular accounting.

 
Posted by : RAHUL BATHAM
Posted On : 9/30/2014 10:20:30 AM
Treatment of expenses
sir plz tell me the treatment of expenses related to advertisement of purchase tender in a psu. plz rply soon...
 
Posted by : Ayush Agrawal
Posted On : 9/30/2014 10:15:44 AM
As 2
in real estate business how valued the inventory
 

Posted by : Avinaash
Posted On : 9/30/2014 9:39:01 AM
Doubt
Why credit note and debit note are revenue items
 


Posted by : Anonymous
Posted On : 9/30/2014 8:57:27 AM
Sale to third party
if A sale good to B directly on C's warranty but invoice made by A name of C and payment also collect through C. so what accounting entries made by all parties
 
Posted by : hitesh arora
Posted On : 9/30/2014 12:45:30 AM
As para
is it compulsory to write para no to get good marks in as portion
 
Audit


Posted by : Anonymous
Posted On : 9/30/2014 2:09:06 PM
Disclosures in audit report - case filed with clb
There are 4 Directors in a Pvt Ltd Company.
One of the Directors has filed a petition before CLB under Sections 397, 398, 399, 402, 403 & 406 alleging oppression and financial mismanagement against the other Directors of the Company with the CLB. The petition is yet to be disposed off by the CLB.

Query:
Does the petition have to be reported in the Audit Report?
If so, for how many years, should this be reported in the Audit Report?

Appreciate your immediate response.

Rgds
Raj
 
Posted by : hitesh arora
Posted On : 9/30/2014 12:47:56 AM
Professional ethics
is new companys act provision also to be incorporated while answering proff ethics ques
 
Income Tax

Posted by : Vikas D Kothari
Posted On : 9/30/2014 7:16:50 PM
Tax
is there any penalty for late return of filling for individual tax return whose date was 31 july though the payment of tax was made on time
 
Posted by : kishore kumar
Posted On : 9/30/2014 6:55:18 PM
Form 3cd
whether maximum outstanding amount in loan account includes interest where such interest provided and paid on 31.03.2014.
EX.
Opening loan : 100000
Additions : Nil
Add:interest31.03.14: 10000
less: paid int. on 31.3.14: (10000)

Now let me know what is the max. outstanding amount at any time during the prev. year.
 
Posted by : PRANAY JAIN
Posted On : 9/30/2014 6:19:55 PM
Capital gain from 2 propeties
I have sold 2 properties in the same financial year, and hence capital gain from both the properties(Say 50 Lacs & 70 Lacs) . So can I buy one residential house of Rs.1.2 Crores to save capital gain on both the properties.
 
Posted by : sanjeev
Posted On : 9/30/2014 6:11:07 PM
Assessment year 2014-15
i have paid Rs 49081 through TDS before 31/3/2014
there was a fixed deposit in bank
bank has deducted 10% as TDS
but my slab is 20% as income is above 5 lacs.
that means i have to pay another 10 % (Rs 4858)on bank's interest of FD.
pls guide how much interest on income tax i have to pay for this unpaid tax today ie 30/9/2014
 


Posted by : Anonymous
Posted On : 9/30/2014 5:21:21 PM
Freelancer income
Assessee has recently cofounded a venture with 2 other partners in US. He has been drawing some monthly remuneration from the venture (as payments to external consultant), in return for research & strategic consulting services. How is the assessee required to account this income for tax purposes?

Also, if this requires the assessee to file taxes as a freelance professional, is he required to prepare books of account? or can it still be done as a normal income?

And if its required to maintain books, can the assessee still take benefit of tax slabs, home loan and education loan etc rebates like he did in his previous years' returns as a salaried employee?
 
Posted by : Namit
Posted On : 9/30/2014 5:13:12 PM
Tax implications for a resident indian receiving equity
What are the tax implications for a resident Indian receiving equity in a US-based startup venture as a cofounder in return for services rendered (no $ investment made)?

Some of this equity is issued upfront (as a founder stock) and rest is vested annually for next x years.

Would there be any tax obligation if the holder doesn't intend to sell it for during the vesting period?
 

Posted by : Aditya Sean
Posted On : 9/30/2014 4:49:17 PM
44ad
Does 44ad apply to partnership firm carrying on a business n having sale Rs 2,00,000? (there is net loss of Rs 8000)
 


Posted by : Anonymous
Posted On : 9/30/2014 4:24:40 PM
Ddt
Suppose a company declares a dividend of 15% on its shares which comes to Rs.140000
what will be the DDT u/s 115 O pre and post
amendment .Also what will be the amount payable to shareholder pre and post amendment in sec 115 O
 
Posted by : saumya
Posted On : 9/30/2014 4:23:33 PM
Advance tax
eg.- income tax liability-357705
tds paid-345960
self assessment tax paid-8700
whether i am liable for interest u/s 234a, 234b, 234c or not. if yes please explain.
 
Posted by : manish
Posted On : 9/30/2014 3:39:03 PM
271b
SIR, I HAVE FILED INCOME TAX RETURN ON 30.03.2014 BUT I HAVE NOT FILED TAX AUDIT REPORT FOR A.Y. 13-14 . I HAVE FILED DETAILS OF AUDITOR IN ITR FORM AND MENTION DATE 01.09.2013. NOW WE HAVE RECEIVED A NOTICE FOR PENALTY U/S 271 B FOR NOT FURNISHING THE AUDIT REPORT . NOW WHAT CAN I DO. PLEASE SEND ME A DRAFT REPLY AND DRAFT CERTIFICATE / AFFIDAVIT ASAP .
THANKS IN ADVANCE

my email id is manishdan@gmail.com
 


Posted by : Anonymous
Posted On : 9/30/2014 2:24:16 PM
Dairy business
A Private Limited company engaged in Dairy activity , the major income is from sale of Milk. Whether the net profit is exempt from tax being considering it as agricultural income or is it taxable ? Kindly give me a view on this issue.

Thnk you.
 

Posted by : DHIREN
Posted On : 9/30/2014 2:20:06 PM
Section 115jb
RESPECTED SIR,
SIR I HAVE A DOUBT,that whether MAT is to be calculated if company has book loss during the financial year.
i think MAT is to be calculated when there is book profit.
 
Posted by : Rakesh Sharma
Posted On : 9/30/2014 2:10:42 PM
Tcs form 26c
What is the penalty for non submission of Form No. 27C as TCS not collected as the buyer purchased the scrap for manufacturing not for trading.

Sir, I Also want to know the due date for submission of Form NO. 27C

waiting for expert reply.

Thanks

 


Posted by : Anonymous
Posted On : 9/30/2014 2:01:51 PM
Profit on option trading
i have been trading in future & options.i want to know profit earned on trading is treated as what?
 

Posted by : Mohan Saxena
Posted On : 9/30/2014 1:59:18 PM
Sale of property
Dear Expert,

I have sold on flat in Sep 2014 and received consideration of Rs.2500000.00 which I have paid to a builder for a property for which I will be getting possession in 2016 for a value of Rs.4000000.00.

Will the amount of Rs.2500000.00 received by me in this financial year will be taxable in my hands.

Please advise.

Mohan Saxena
 
Posted by : jyoti kumari
Posted On : 9/30/2014 1:54:54 PM
About tax
dear experts,

what is the eligiblity of a company for deduct tds on salary.
 
Posted by : DIWAKAR REDDY D
Posted On : 9/30/2014 1:43:11 PM
Interest u/s 234 b & c
Dear Sir/Madam (s),
Whether 234 B & C are applicable , if the assessee is having income under 44AD and other sources also.
Eg:- Income under 44AD = 2,10,000/-
Income from Remaining Sources = 2,50,000/-

If they are applicable ,Please give me relavent Sections or Clauses.

Thanking You
DIWAKAR
 
Posted by : komal shah
Posted On : 9/30/2014 1:31:48 PM
Profit from another llp
Respected All,

Please, help to solve a query:

What is the Accounting treatment of profit/Loss of X LLP which is partner of another Y LLP? Shall they distribute their loss among the partners or not???

Thanking you in advance.
 
Posted by : Gourav Chugh
Posted On : 9/30/2014 1:28:56 PM
Tds on ex-gratia payment
EMPLOYER DEDUCTED TDS ON EX- GRATIA PAYMENT TO STATE GOVT. EMPLOYEE LEGAL HIERS AND DEPOISTED TDS IN TREASURY BY WAY OF BOOK ADJUSTMENT ENTRY (BIN) IN 26 Q . TIN SITE ALSO SHOWS STATUS AS CHLLAN NON SALARY IN 26 Q.
I WANTS TO ASK THAT WHAT SECTION WILL APPLICABLE ON IT UNDER 26Q ....EX.( 94 C,D) ETC.

THANKS
GOURAV
9315990900
 
Posted by : CA.CHANTI BABU
Posted On : 9/30/2014 1:23:33 PM
Tds
dear sir,
Tds applicability on sewerage charges
 


Posted by : Anonymous
Posted On : 9/30/2014 12:58:09 PM
Interest on nre accounts for resident
A NRI came to India in 2009 and since then staying in india.

he has NRE account with bank, whether the Interest earned is tax free and if yes under which section

as my calculation, the person is now a ordinary resident of India. AM i Correct in this or not

Pls. reply ASAP

also tell me whether the Interest is taxable under income from other sources exemption of Rs. 10000/- on saving bank interest is available or not.
 


Posted by : Anonymous
Posted On : 9/30/2014 12:49:50 PM
Surrender value of insurance
Deal All,

I was invested in insurance plan of unit linked with ICICI Bank on 30/12/2005 and surrendered on 27/04/2012. so, surrender value is taxable or exempted? if it is taxable then under which head of income should i show? Please help me on my above question.
 


Posted by : Anonymous
Posted On : 9/30/2014 12:46:45 PM
Applicablity of form 15ca & 15cb
My client wants to make payment for Foreign Exhibition Space. Receiver is foreign company and having no place of business in India.. Which form is applicable to my client in this case. Payment is worth $6530
 
Posted by : rAM
Posted On : 9/30/2014 12:43:31 PM
Capital gains
Hello respective experts

There is a query related to capital gain head.
An industrial unit consisting of land and building (both being held for more than 3 years), being a depreciable asset building is covered under the scope of sec 50, while land doesnot.

Now if, industrial unit (i.e land & building) is sold so what will be the tax treatment under head Capital Gain and what is the tax planning to save tax thereon?

Is there any provision to treat both assets different while selling for the purpose of tax saving?

Regards
Ram
 
Posted by : gowthu
Posted On : 9/30/2014 10:43:59 AM
Interest for not fiking of tax audit report
if delay in filing of audit report what will be the interest rate plz suggest me
 


Posted by : Anonymous
Posted On : 9/30/2014 9:45:41 AM
Selection of text book
For Direct Tax law for CA Final which Text book will be preferred for details study ?
Please guide me I will appear in May,2015 CA Final Exam.Thank you all in Advance.

Md.Zakir Hossain
CA Final & ICWA Final
Kolkata
 
Posted by : SANJAY G.PATIL
Posted On : 9/30/2014 9:32:38 AM
Lic's varishtha pension bima yojana
Sir is there income tax rebate under 80C for investment under LIC's Varishtha pension Bima Yojana? Is the pension received under this yojana is tax free?
 
Posted by : Arpan Jain
Posted On : 9/30/2014 7:21:35 AM
Tds
please provide amendments made in all provisions of tds in union budget 2014
 
VAT
Posted by : vinod
Posted On : 9/30/2014 5:54:29 PM
Registration
what is the turnover limit for registration under MVAT
 

Posted by : satish kumar durai
Posted On : 9/30/2014 5:33:01 PM
Applicability of vat on second hand cars
Dear All

What is the basis of deciding the state to which the VAT Payment belongs to in case of Sale of second hand cars - Is it Vehicle Registration No of the Car or any other reason ?

Will the answer be different if the Car is a third Sale where it was purchased in one State Say Karnataka - Sold in another State (Road Tax paid but Registration No not changed )Tamil Nadu and then again sold in another State Gujarat -

Your views will be highly appreciated if quoted with relevant sections or circulars in this regard
 


Posted by : Anonymous
Posted On : 9/30/2014 5:10:46 PM
Vat
input credit of vat where can be adjusted if persons is not involving sales activity??
 
Posted by : upendra kumar gupta
Posted On : 9/30/2014 3:24:02 PM
Cst rate in jammu & kashmir
My self is upendra gupta. just i want to know what is the rate of cst against form c in jammu & kashmir.
 


Posted by : Anonymous
Posted On : 9/30/2014 3:07:34 PM
Pan/vat
i have started a new company. I have applied for Pan/VAT and TIN. Can I do per forma invoice and receive the payment while I am waiting for VAT/PAN? I will be charging 5.5% vat on per forma invoicr
 

Posted by : Ramamoorthy
Posted On : 9/30/2014 1:22:31 PM
Clarification
Respected Sir/Madam,
A co-operative bank made a second sale of gunny bags revived from ration shop in a year once or twice for amount of bellow 3 lac weather the Vat is applicable or not for the gunny bags transaction
 
Posted by : ANITA JAIN
Posted On : 9/30/2014 1:08:57 PM
Sales tax form h
i export the goods to nepal( Kathmandu). can i elegible to received any form from nepal dealer
 

Posted by : Ms. B
Posted On : 9/30/2014 12:35:58 PM
Toothbrush and toothpaste
WHAT IS RATE OF VAT AND EXCISE ON TOOTHBRUSH & TOOTHPASTE IN GUJARAT (INDIA ).
 


Posted by : Anonymous
Posted On : 9/30/2014 11:30:10 AM
Vat credit in one state & export of goods from another state
Pls. guide in our below case:

1) Local Purchase from local party against VAT bill from our Andhra Pradesh unit.
2) Want to export this goods from Adhra pradesh port but doucument of export and billing from Mumbai office.



Issue:

1) Whether we can take Vat credit in Andhra Pradesh unit.?
2) What document to be prepared for above transaction ?.
3) Do not want to incure any tax loss. Since there is no tax on export of Goods
 
Posted by : rohit
Posted On : 9/30/2014 11:08:09 AM
Refund
Can Anyone tell me the procedure for obtaining vat refund?
 


Posted by : Anonymous
Posted On : 9/30/2014 9:27:18 AM
Central sales tax -c form for rajasthan
We are purchasing building material from our supplier of Delhi state for Land development project in Rajasthan, our head office is in New Delhi against that purchase we issue C Form to that supplier being registered with Rajasthan VAT deepartment. Under WCT we are issuing all material to our contractor and paying labour charges for the work done. At the time of sale of land to investor we are not going to chrage any VAT being not payable on sale of land. Please suggest us weather we can issue C form to supplier or collect c form from supplier of Rajasthan whom made WCT without material. Or do we have to pay diffrence of VAT to Rajasthan VAT department.
 
Posted by : yat
Posted On : 9/30/2014 2:01:29 AM
Franchise vs brand tin no.
Hi,

I have taken a property on lease and have been authorised by a garments brand to make it their exclusive factory outlet as franchise. The rent and all expenses of shop are borne by me and I get a fixed margin on sales. All the merchandise is.discounted so we.collect 5% VAT from.customer on bill.value.
That query is that both me and the brand want TIN no. Of brand to be used. But someone has provided their opinion that when lease is in the name.of franchise brand's TIN no. cannot be used. Whereas I am already operating few other stores of two biggest brands in India on the same model. Please tell me how I could prove that it is not illegal to operate on brands TIN no. In such as case. Please help with an expert comment . A literary citing shall.be very useful.
Much thanks in advance!!!!!
Yatin Gulati
9212333701
 
Service Tax
Posted by : Suraj
Posted On : 9/30/2014 6:41:01 PM
Exempt services & negative list

Dear Sir/ Madam,

I wish to know:
1) whether Services mentioned under exempt list and under negative list is one and the same or is there any difference.

2) My friend is engaged in the activities as Trainer to A Cricket team where he will dicuss the fitness of the player with the Physio and Coach of the team and plan the training program accordingly. He will monitor the fitness of the player and report the same to the coach and prepare training activities.

Whether will his services be exempted under MEGA Exemption NOTIFICATION NO. 25/2012-ST, DATED 20-6-2012 under clause no. 2, 8 & 11(a).

Kindly guide
Regards,

Suraj
 
Posted by : trupesh
Posted On : 9/30/2014 6:01:04 PM
Interest & penalty
We are a partnership firm and our turnover is below 30 lacs and we are not knowing about service tax payment detail and not paid any amount of service tax from april to government.
we have a liability of service tax of 2 lacs without interest and penalty so kindly provide me a detail of penalty and interest and service tax return filling date for quarter or half yearly
 


Posted by : Anonymous
Posted On : 9/30/2014 3:14:37 PM
Regarding service tax
i want to konw regarding service tax on hiring of Disal Genset (with fuel) please confrim Service tax appliable or not if applicable what is the rate of % & also confrim if avaiable any Abatement Scheme

Regards


Manish Khandelwal
 


Posted by : Anonymous
Posted On : 9/30/2014 2:32:19 PM
Service tax
There is a labour contract. Party A (proprieter) provide labours for loading and unloading coin bags, shifting, packing and rasise bill as labour bill for full month at rate (inclusive of service tax) fixed in contract. Rate is fixed on work basis not on worker basis. Party B is doing payment to Party A on rate inclusive of ST after deducting tds @ 1%

Whether it comes under manpower supply and RCM applicable?
if yes then 75% Service tax will be paid by party B

BUT if it is a labour contract then whole Service tax will be paid by party A(contractor).

 

Posted by : CA SOHAM SHUKLA
Posted On : 9/30/2014 2:19:28 PM
Rcm
We are a pvt ltd co. engaged in the business of labour supply to the builders.

We engage small labour contractors and collect service tax from under partial rcm basis(under cl 9 of notification 30/2012-ST).

I want to know when the credit of such ST collected by us from small labour contractors should be taken? Do I need to make the payment of ST to the Govt and then take the credit or setoff against cenvat credit available at the end of the month?

Pl clarify how the cenvat credit should be taken along with reference to relevant provisions in the act and/or relevant case laws.

Thanks
 
Posted by : JANARDHANA D L
Posted On : 9/30/2014 12:52:56 PM
Service tax on freight
WHEN CAN I CALCULATE THE SERVICES TAX,
 


Posted by : Anonymous
Posted On : 9/30/2014 12:35:07 PM
Registration
I am accounts professional I want to register me accountingserviceschd firm under service tax but didn't under which it will fall. I am not a chartered accountant.
 
Posted by : Rahmath
Posted On : 9/30/2014 11:37:24 AM
Input claiming
can we claime input tax of Service tax on sub contract.
 
Posted by : sanket
Posted On : 9/30/2014 11:24:18 AM
Whats is procedure to obtain service tax registration number.
a sole proprietorship concern having activity of security serviced wants to obtaion service tax registration numbet. i request to experts provide me detail procedure of service tax registratio.
 
Posted by : C G Dhandapani
Posted On : 9/30/2014 11:06:51 AM
Reg.notification no 15/2012
The above notification indicates Service provider and Service receiver should share the Service Tax liability , need to understand that the Service provider Liability is limited to 60 % of Service Tax , whether Service provider need to raise invoice for 100 % service Tax and subsequently reverse the 40 % liability of Service receiver or the service provider Liability is limited to 60 % and service provider need to provide only for 60 %. Kindly advice me on the issue.

Note : Service provider is involved in Transport of Goods through road,air and sea , customs clearing agent , 3rd party logistics , warehousing service.
 

Posted by : sujeet kori
Posted On : 9/30/2014 12:28:11 AM
Taxable service
HELLO,

MY QUERY IS ONE MY FRIEND HAVE PLUMBING CONTRACT BUSINESS NOW HE WANT SERVICE TAX NUMBER SO NOW I WANT TO KNOW IN WHICH SERVICE I SHOULD SELECT FROM GIVEN LIST BY SERVICE TAX DEPT (119 LIST).


THANKYOU
 
Corporate Law
Posted by : Mohit Khanna
Posted On : 9/30/2014 6:05:44 PM
Inc 21
Sir plz tell that Form INC 21 is required to be filed for pvt ltd company.??
 


Posted by : Anonymous
Posted On : 9/30/2014 5:29:11 PM
Company law query
removal of the auditors can be done without the approval of the central government after the completion of financial annual year by the auditor


importance of the consent of the auditor
consequences if the consent were not received by the auditor as he was absent in the AGM. and will it be assumed that the auditor has been rejected the appointment of being auditor for next day.

what steps can be taken if auditor not giving consent and consequences for being abcent in AGM
 


Posted by : Anonymous
Posted On : 9/30/2014 5:15:45 PM
Board resolution for change in address in sales tax address
hello friends,
i want to know that board resolution for change in sales tax address
 


Posted by : Anonymous
Posted On : 9/30/2014 4:27:34 PM
Comp. act 2013 director personal guarantee for company loan
One of a Director is giving personal Guarantee and his Property as Collateral for Loan to a Private Limited Co. under Co Company Act 2013?

Can he do that?

If yes, under which section Company Act 2013 it is mention? and what additional compliance need to be done for Director Personal Guarantee.
 
Posted by : sanjay
Posted On : 9/30/2014 4:18:19 PM
Notice of agm
hello All
I would like to know the change in Notice to Shareholders for AGM of the Pvt Ltd Co for the year 14-15 and 13-14. Pl send the proforma of Notice.
Regards
Sanjay
Sanjaybudhiraja@rediffmail.com
 

Posted by : NEHA MAHAJAN
Posted On : 9/30/2014 3:49:39 PM
Objection in form mgt 14 filed to roc
Please advice to sort the following issue:

I have changed the object clause of MOA in EGM held on 20.8.14 and filed form MGT 14 to ROC . ROC put remark that MOA should be as per Companies Act 2013 and ask to file form 67(addendum) by 9.10.2014. Now I have to adopt new MOA & AOA for the Company to rectify the defects.

My query is

a. should I again call Board meeting, EGM to re adopt the MOA & AOA in new format? if yes Can I file Extract of minutes of new EGM and Board meeting in form 67?

b. Earlier I have made changes only in MOA and filed form MGT 14. Now can I change both MOA & AOA and file form 67 only.

If it is otherwise, please advice me the steps to be taken to rectify the defect in the form MGT 14 filed to ROC.

Also provide me the format of BR and notice to rearrange EGM for the same purpose.

Please consider this request on urgent basis.


 

Posted by : karan
Posted On : 9/30/2014 3:22:08 PM
Issue of preference shares
How can a Unlisted Public company Issue Preference Shares as per Companies Act 2013 ? Is it necessary to comply section 42 & 62 of CA 2013 for that?
 


Posted by : Anonymous
Posted On : 9/30/2014 1:14:08 PM
Md & manager & ceo
Hello,

My company being a pvt co. with paid up cap Rs.8crs has appointed MD & general manager since 2010.However, as per Companies Act, 2013 Sec 196 provides that no company can appoint a MD & manager at the same time.
1. Shall I make the GM resign & reappoint him as CEO?
2. Will the provisions of sec 203 i.e appointment of KMP be applicable to him if reappointed as CEO?
 
Posted by : Nitesh Parmar
Posted On : 9/30/2014 1:08:49 PM
Auto finance
I want to register a pvt. ltd. co. in which i will do some work of auto finance with my shareholders, it is intial starting know.
when i applied for the name approval, in which i shown companies object as sale and purchase of vehicle and financing of same.
they not approved the name and shown massage that auto finance is related to nbfc and for that required net owned fund of Rs.2 crore.

My question is how it is possible in starting to having net owned fund of Rs. 2 Crore? and i will do another business also in this in co. like real estate, auto agency etc. then what is the best way to register pvt. ltd. co. please suggest.
 


Posted by : Anonymous
Posted On : 9/30/2014 12:41:54 PM
Query on cfo appointment
Dear Sir,

This is with reference to the subjected matter. Section 203 of Companies Act, 2013 and rules thereon for mandatory requirement of Chief Financial Officer is not applicable to Private Limited Company and as per Section 2 (19) of Companies Act 2013 Chief Financial Officer means a person appointed as Chief Financial Officer of Company.

My query is that we have appointed a person as a Chief Financial Officer of the Company before the applicability of Companies Act 2013 and not by the Board of the Company.

In this case, Please suggest which option we are required to be adopted:

1. If that person is using the designation as a Chief Financial Officer, we need to change his designation?
2. We need to regularize his appointment by the Board Meeting.
3. He can use the same designation (Chief Financial Officer) without any appointment in the Board.

Please let us know your valuable comments on the same.
 


Posted by : Anonymous
Posted On : 9/30/2014 12:41:40 PM
Due date of filing annual accounts with roc
What is the due date and filing fees for filing annual reports (BS, P&L etc.) with ROC ?
 
Posted by : abira
Posted On : 9/30/2014 11:46:06 AM
Corporate guarantee
XYZ PVT. LTD. is having net worth of 129 lacs (PAID UP CAP.-2500000).It is having 4 directors among which 2 directors having a shareholding of 43.30% .
These 2 directors are also directors in another ABC PVT. LTD.having shareholding of 100% in the company.ABC PVT. LTD.Is having paid up capital of 100,000.

XYZ PVT. LTD.wants to give Guarantee of 300 lacs to ABC LTD.

Whether it can give the corporate guarantee under company act,2013??
If not then what is another alternative if company wants to provide Guarantee???



 


Posted by : Anonymous
Posted On : 9/30/2014 11:42:12 AM
Loan by private companies
Can Private company take loan from Directors relative who is non shareholder in fy 2013-14 & 2014-15.
 


Posted by : Anonymous
Posted On : 9/30/2014 10:42:48 AM
Query regarding remuneration to whole time director
Dear Sir/Madam,
cab remuneration paid to Whole Time Director is considered as Related Party transaction.
 
Posted by : pooja
Posted On : 9/30/2014 9:52:31 AM
E-form no.
in exam is it neccessary to write e-form number for :- example e-form 23 so.can we write only e-form
 
Posted by : Tejvir Sharma
Posted On : 9/30/2014 8:51:55 AM
Company formation along with franshisee agreement
I have a query related to forming a company as illustrated below:3 partners agreed to start a firm in franchise business. Firm will provide support to open franchisee outlets for fast food items. 3 partners have agreed verbally on following terms and conditions.Equity shares : A=50, B=25, C=25.All investments will be done by A.All earnings will be distributedĀ In franchisee one time feeTill xx amount everything to A.Everything Above xx amount : A=50, B=25, C=25.In franchisee running fee earnings A=80, B=10 C=10Question : how to register and start a company formally.Does anyone know step by step process.What all tax related items will be applicable viz. sales tax, vat, income tax etc.What all franchisee or company laws will be applicable?Any pointers to gather related information will be appreciated. Thanks šŸ˜Š
 
Students


Posted by : Anonymous
Posted On : 9/30/2014 6:37:57 PM
Icwai online examination form
Today I filed online examination form for dec 2014 exam. I have paper 12 exemption. Whether I have to mention in details of examination passed or below it mentions it will incorporate automatically.
 
Posted by : saumya
Posted On : 9/30/2014 4:26:43 PM
Industrial training
is industrial trainer should have cop or he should be only a member of icai. please reply........
 
Posted by : CA Gopal Ji Agrawal
Posted On : 9/30/2014 3:03:27 PM
Non submission of form 112 till passing of ca final exam.
hi, I am passed ca final exam and send form 2 to icai recently. but in reply to form 2 icai ask me to submit form 112 bacause i was completed B.com course (regular) with my training.(the timing of classes are 10.00 am to 2.45 pm). Actually i was not attanded even any single class in college in those time because in college there is no mandatory requirement to attend classes and i was just goes for b.com exam at the end of the year. I was attended my office everyday 11.00 am to 6.00 pm. for complete 3 years of my training. Now what should i do? please suggest me as early as possible....

its a urgent query please give your valuable suggestion.............
 
Posted by : Mohammed Khaja Moinuddin
Posted On : 9/30/2014 2:56:44 PM
How to plan for ca final audit paper
SINCE FROM LAST 2 ATTEMPTS I AM FAILING IN AUDIT PAPER BECAUSE OF THAT I AM UNABLE TO CLEAR MY FIRST GROUP PLEASE HELP ME HOW I SHOULD PLAN FOR AUDIT.........................
PLEASE TELL ME THE CORE AREAS TO BE COVERED.
HOW TO TACKLE THE TOPICS SUCH AS BANKING INSURANCE, EDP AUDIT ITS REALLY DIFFICULT TO ME SUGGEST HOW TO TACKLE THIS TOPICS...........
 
Posted by : B Venkatesh
Posted On : 9/30/2014 2:20:22 PM
Postal-oral(cwa inter)
I wish to know whether there is any change in exam question paper between oral and postal students,any changes in results procedure and ranking system etc.
 


Posted by : Anonymous
Posted On : 9/30/2014 1:08:40 PM
Regarding my ca final attempt
i registered as an article assistant in may 2013. so wen i can appear in ca final exams as early as possible .. and wen should i register for ca finals
 


Posted by : Anonymous
Posted On : 9/30/2014 12:52:28 PM
Regarding prepration of ca final exams
respected sir, i have cleared my ipcc both groups, and my ca final attempt is in may 16 , i want to start my preprationfor ca final now , but due to some humours i m confused , i have heard that syllabus is going to change in 2016, so wat should i do, n which subjects should i start first . please help me
 

Posted by : Sharwari
Posted On : 9/30/2014 10:53:38 AM
Articleship in usa
Hello!
I am into my last year of articled training and plan to move to the United States of America.
Can I get a transfer to the USA? What are the norms?
Can I get a list of Indian Chartered Accounts practising in USA?
 
Posted by : kamlesh choudhary
Posted On : 9/30/2014 1:49:51 AM
Mock test papers nov 14
Any1gave the ipcc mock test paper for nov 14....plz post d papers
 
Others
Posted by : jatin
Posted On : 9/30/2014 2:22:21 PM
Firm registration
what are the pros and cons of registring a firm

what are the charges related to it
 


Posted by : Anonymous
Posted On : 9/30/2014 2:13:26 PM
Rti application
If I filled RTI Application but not collect that information for which i filled application then can PIO can take any legal action against me.
 
Posted by : Pradeep Gutgutia
Posted On : 9/30/2014 2:04:35 PM
Esi
14 State Govt. / UTs have reduced the threshold limit for coverage of shops and other establishments from 20 to 10 or more persons.

Can somebody please help me with the list of these 14 States/UTs? It is bit urgent. Further, also help me where I can locate this list since I need to substantiate my client regarding applicability of ESI in their concerns.

Thanks & regards to all my professional colleagues.
 
Posted by : Aditya
Posted On : 9/30/2014 1:58:21 PM
Rate
countervailing duty
 


Posted by : Anonymous
Posted On : 9/30/2014 12:03:07 PM
Finance
Why do we prepare Cash Flow Statement Separately
 


Posted by : Anonymous
Posted On : 9/30/2014 11:16:37 AM
Trust
What is the procedure to add one trustee to a trust?
 
Posted by : Vikrant
Posted On : 9/30/2014 11:05:32 AM
Compliance for a company
Can anyone give me detailed compliance requirement of a company, like TDS, VAT, ST, IT payment dates, return dates, CS compliance. Kindly provide me form numbers also.
 


Posted by : Anonymous
Posted On : 9/30/2014 10:42:16 AM
It& sm
is it any changes sylubus in statergic management for ipcc exam may -15.
please can anyone tell regards changes in ipcc subjects.
 
Posted by : CA RAJIV RANJAN
Posted On : 9/30/2014 10:38:57 AM
Rule to make a ca as partner
Dear sir

I have to make a partnershiip with ca.please guide me the rule regarding it.form to be filled.its urgant.
 

Posted by : Gavin D
Posted On : 9/30/2014 10:08:57 AM
Articleship fees
Sir, I've been doin my articleship for about 3 months now, my boss, when he pays me, makes a cheque in my name which I encash that day or the next. I was told the cheque should be crossed & should go straight into my account. Should I tell my boss to cross the cheque or is what he doing fine? Thank you Gavin D
 
Posted by : pooja
Posted On : 9/30/2014 9:56:24 AM
Time table
respected experts please help me out to prepare a good time table & number of study hours and also give me the number of days required to complete subjet wise revision
 
Excise

Posted by : JIGNESH
Posted On : 9/30/2014 6:13:42 PM
Excise rebate
We are Merchant Exporter from Gujarat. We had purchase two wheel auto parts from Dealer (excise registered dealer). Now, same goods are export from JNPT, Mumbai port i.e. other jurisdiction. Now, we want file the same rebate claim in excise dept. Can I file rebate claim ?
 

Posted by : P.Shankarvarma
Posted On : 9/30/2014 6:03:16 PM
Asset transfer - cenvat credit rules - excisability-reg.
Dear Members,

Kindly clarify, If the asset (Capital Good) which has been used for more than 10 years and having WDV value, transferring from Andhra Pradesh Plant to Karnataka plant; how the rule 3(5A) of CENVAT credit rules applies to this transfer? whether am I require to pay excise duty? If yes under which provison? wat will be my transactional value, because I transferred the same at WDV Value. Note : Company not registered under LTU provisions of the excise act. Thank you
 
Posted by : naresh
Posted On : 9/30/2014 5:59:36 PM
Payment
can excise duty paid in cash or we can pay only by cheque or through pla or by cheque. please suggest your reply.
 
Exams


Posted by : Anonymous
Posted On : 9/30/2014 11:15:51 AM
Ca ipcc
please tell me the important areas or questions in law, ethics and communication for nov 2014 exams???????????? reply me as soon as possible...........
 


Posted by : Anonymous
Posted On : 9/30/2014 11:07:37 AM
Ca final
hello experts.........i am very satisfied with your valuable suggestions......thank u so much............can u please suggest me best reference books for ca final????????????????????????????
 
Posted by : bhavesh
Posted On : 9/30/2014 1:53:51 AM
M baf graduate tell abt atc. in brf
prosedure of ATC exam after baf
 
LAW
Posted by : Lovelesh Varshney
Posted On : 9/30/2014 3:01:26 PM
Ipcc prepration
how to prepare entire law and ethics by self
 


Posted by : Anonymous
Posted On : 9/30/2014 1:25:32 PM
Partnership
WHETHER A PARTNERSHIP FIRM CAN BECOME PARTNER OF ANOTHER PARTNERSHIP FIRM UNDER THE PARTNERSHIP ACT,
IF YES , WHAT ARE THE CONSEQUENTIAL IMPLICATION UNDER THE INCOME TAX ACT FOR SHARE OF PROFIT RECEIVED ? WHETHER THE SAME IS EXEMPT IN HAND OF RECIPIENT PARTNERSHIP FIRM?
 
Posted by : Rahul Pandey
Posted On : 9/30/2014 12:12:20 AM
One month rent
is there any provision that state to give one month rent to cooperative society
 


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