Dear Experts

Urgent !!!

I would like to know can an Indian company issue equity shares to its Non Resident Director from whom the company has an unsecuredloan.

And can the amount of unsecured loan be held as share application money in the company from Non resident director without the requirement of permissions from Authorised Dealer as per RBi and under FEMA Act ??

I run a proprietorship company, today i checked that a private limited company is also registered with the same name and has Dormant status).

Is it ok if i continue to do the business with the same name. What shall i do if next year I will be required to register my company as private limited itself.

Thanks
Prashant

We are automobile pvt.ltd. company. we have ten workshops in delhi.

Several contractors( individual person & company) do job work for us

In my knowledge, there are two type of tds (1) WCT (2)income tax .

Which one is applicable in our case.


suggest me.

I have received an order fro supply of equipment from my customer having their place of business at China.

The manufacturing activity is going to take place in our factory at Chennai. We will procure some material from overseas supplier also.

The material which i am going to procure from my supplier is required by us only at the time of installation, hence we are planning to ship it directly to our customer. The invoice will be made in our name with the mention that material is dispatched to our customer directly. I will also make the high sea sales documents simultaneously on getting the confirmation from my supplier.

Now my query is as follows:

1. Is it mandatory to go for high sea sale agreement.
2. Since no shipping document will come to us can i make the payment to my overseas supplier on the basis of copy of the Master Air Way Bill and Shipping Bill received from my supplier along-with copy of duty documents paid by my customer.
3. The above is acceptable procedure under FERA or if it will be treated as FERA violation how to over come the same.
4. I can\'t ask my customer to make the direct payment to my supplier because of different currencies involved and we do not want our customer to know the purchase cost.

Kindly advice.

Regards

Kalyan

Urgent:

I have selected my medium as english but the admit card shows it as hindi i tried to reach icai but no response.

I have given an undertaking to the examination centre as to my medium opted and they have allowed me to write in english.

will there be any implication as to the papers.

what further action do i have to take?

Kindly address the issue urgently.

Hi Expert,
An AMFI certified person can only engage in distribution of mutual funds, so what I wanted to know is if a person is CFPA(Certified Financial Planner)- can such person sell mutual funds?

Which certification should a student prefer to do AMFI or CFPA?

thanks
Kirti

Facts of the case:

1. ABC Private Limited has availed a working capital facility of Rs.500 million from Indian Bank.

2. ABC's holding Company XYZ holding 51% Equity (a Foreign Company) gave Corporate Guarantee to Indian Bank towards the Working Capital Facility extended to ABC Private Limited

3. EDF Limited (a listed indian Company) holding 49% of ABC Private Limited gives Counter Guarantee to XYZ (foreign Company) to the extent of 49% to secure the working capital facility

Please let me know the compliances under RBI to by made by EDF Limited / ABC Private Limited

Thanks

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Dear Expert,

Kindly advice me.

We have employee welfare fund formed from last 4 years.

we hav pan number also.

no Trust deed is prepared yet.
we need to prepare a trust deed for claiming exemption u/s 10

can we prepare a trust deed of current date mentioning formation of trust on earlier date?

I was working as employee with a CA firm before clearing my IPCC....now since i have cleared my IPCC.. i can undergo my article-ship....If i continue working with Same Ca firm than will i get the benefit of the work that i have done before clearing my IPCC as an employee in my article-ship period