We have one regular export customer who has good amount of business with us. He placed the order and paid 100% advance also but subsequently he cancelled the order and asked for the refunds. However erroneously that advance got adjusted against the old invoices and all the SHBs were closed against this advance. Of course we had some unapplied payments pending at our end which should have been applied against the old invoices but instead of that advance got adjusted. Now when we asked bank to refund the excess amount bank is asking that the BRC is in the used status and hence we need to get the confirmation from the DGFT that we have not claimed any export benefits and since DGFT site is down we are not able to make the BRCs in the available status and bank is refusing to refund..
So our question is whether there is any rule under any of the acts that the advance has to be refunded as is or can bank rectify the application on our request and open the advance again and refund it to the customer. This issue is pending with bank since last 2 months and it is a dead lock and DGFT site is down we are not able to get the BRCs available. We have not taken any MEIS benefit on the same

Hello,

My father expired recently. He was still a employee in SAIL. As a nominee, my mother received money accumulated in PF, Gratuity etc (around 50Lacs).
1. Can I use the money received by my mother to invest in MF, Stocks, gold etc, from my broker account?
2. What are the taxes that will be applicable if I invest the amount?
3. Or, is it better to open broker account for mother, and invest through it, in terms of taxation?

I work as IT professional with income of 5Lac.

Regards and Thanks
Pramod

As per the guidelines revised by ICAI in July-2021 regarding multi disciplinary practices between CAs and certain other professionals, are advocates allowed to become a partner with CA ? If yes, is an advocate who has a bachelor degree in law but does not have a bar council membership allowed to become a partner ?

Thanks in advance.

sir my foreign principle gives quote in US $ on ex-works basis. my question is that Can an Indian company submit quotation in USD for an Indian company of a foreign product? also can we raise invoice in USD of foreign product by indian company to indian customer.

Dear Sir,

Reference to your reply dated 2nd September, 2021:

The amendments in period of renewal is by the following notification:

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
MINISTRY OF HOME AFFAIRS
CORRIGENDUM
New Delhi, the 11th January, 2021
G.S.R. 17(E).— In the notification of the Government of India, Ministry of Home Affairs pertaining to the Foreign Contribution (Regulation) (Amendment) Rules, 2020 as published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide G.S.R. 695(E), dated the 10th November, 2020, at page 36 in line 4, for “from” read “before”.
[F. No. II/21022/23(12)/2020-FCRA-III]
SANTOSH SHARMA,
Director
Please guide us accordingly how to get renewal of FCRA certificate in this case and what is the consequence of not apply for renewal.
Regards,

K M GOYAL
M No-9899799000

Dear Sir,

Reference to your reply dated 1st September, 2021:

There has been a recent notification dated 12.01.2021 stating that the FCRA renewal needs to be applied ‘before’ six months of expiry of registration. In other words, the organizations where the FCRA registrations get expired on 31.10.2021, would have to apply for FCRA Renewal in Form FC-3C on or before 30th April, 2021.

In our case the FCRA registrations will be expire on 31.10.2021 but till today, we have not applied for renewal of the FCRA registrations as per new amendment.

Please guide us how to get renewal of FCRA certificate in this case and what is the consequence of not apply for renewal.
Regards,

K M GOYAL

Our last quarry:

k M Goyal (Querist) 01 September 2021

Dear Sir,
Our due date of filing application for renewal of FCRA certificate has expired. Please guide us how to get renewal of FCRA certificate.
Regards

K M Goyal
M No.-9899799000

Your reply on the query:

CA R SEETHARAMAN (Expert)
01 September 2021

Delayed Application for Renewal In case an NGO fails to apply for renewal within the due date, its registration shall become invalid. However, the department may condone the delay if satisfactory reasons for not submitting the renewal application are provided. A delayed application for renewal can be filed up to 1 year from the date of the expiry of the FCRA Certificate. A delayed renewal application shall be accompanied by a fee of Rs. 10, 000(Ten thousand only).

Dear Sir,
Our due date of filing application for renewal of FCRA certificate has expired.
Please guide us how to get renewal of FCRA certificate.
Regards
K M Goyal
M No.-9899799000

Respected Sir,
I have to convert Tally 7.2 data into Tally Prime.
I dont know how to convert Tally 7.2 data into Tally Prime

Please guide me and oblige.

Our proprietorship company and last ten years our bank account in "A "bank We have takne load agaisnt properity from bank "B". Now as per RBI instrucation A bank stopped our transcation and tell to open bank account in "B" bank. We ahve already submitted alll relevent documents for opening bank account to "B" Bank. " B' Bank. In meanwhile we have enquiry for loan in other financial institute but load not taken,but same appered in our CBIL. So "B" bank raise query hence matter is pending. Now our business completely stopped.
my query the matter is taken in RBI Governer or Finance Minister.
L.D.Dharmadhikari

There is a LLP having 2 partners. There capital contribution is Rs 50000 each. Now one partner want to retire and 4 another partner join the LLP. And also some business activity has to added (Business activity code remain the same, only some extra business object has to added in the same business activity code ) Also new partner brought some capital . Suppose each partner want to contribute Rs 200000. Now I summarise the changes :-
1. Retirement of a partner
2. Admission of 4 new partner
3. Some addition in business object with same business activity code

Now I want to know the step by step procedure for this change. Which form to be used and whether supplementary LLP agreement required or new LLP agreement required. Please resolve my problem.