My friend has got a NRI investor who is ready to invest in IT industry in India. Now, Confused on which form of legal organisation they both have to tie-up. Firstly they decided to go for partnership form of status.

since FOREX inflows from NRI investor attracts FEMA and other RBI guidelines. In addition to that provisions regarding registration under partnership act also apply on them. This seem to be enormous formalities.

I suggested both the resident and NRI can enter in to joint venture agreement (JCO-as per AS27) without creating any new organisation but having same share of management participation and profits intact.

My doubts are -

a) which form (i.e partnership or joint-venture) has got more formalities under FEMA
b) can joint-venture be on-going basis? (i.e life time agreement possible)
c) the ceiling limit, which a NRI can invest in business in India as per FEMA
d) impact of transfer pricing as per sec.92 of IT Act,1961
e) any act regulating joint ventures and rules regarding registration of instruments of joint venture?

Awaiting eagerly of responses

Thanks a lot.

Hi,

Iam Shiva Who wants to rejoin CA in the new scheme to my info should we write the CPT because i have given my attempt in old syllabus for Group II only.

Kindly advice me the procedure involved in the new scheme

I passes CA exminations in Nov.06. Presently I am working in a BPO. I want to pursue CPA examinations. Can anyone tell me its detail procedure.

Hi,

One of friend is working in a Public limited company. Salary letter given by the company includes Gratuity. He worked there for two years and then resigned. I would like to know is the company liable to pay the him gratuity as his final settlement as it was part of the salary letter which the company never paid as part of his regular salary.

Best regards,
Samir Ambavi

Example: Mr. X, a service engineer of a company in Mumbai travels to delhi and stays there for a month for office purpose.

Queiry: Expenses incurred for local travelling i.e within Delhi itself will be considered as Conveyance and will attract 20% tax rate or it will be included in Traveling Expenses @ 5%

I would just like to thank all the experts for solving our queries.This is really very kind of You.I am thanking on behalf of all the students who are in some or the another problem just like me.You are doing a great service.
Thank you once again....

Can anybody tell me the name & website of Biggest & the smallest CA firm in India.....

Hi Professional Friends !
Don't be surprise. Just leave your reply about what is love as Valentine day is ahead.

Bored of law,accounts,incometax,account etc etc..

Let us see what professionals will say about Love. Seeking experts opinion too !!
Hope our CAclubindia Admin will catch us !

one of my client in 2006-07 issued a bill after adding sales tax to a customer who export the goods and issued form H in 2007-08. My client is already deposite the sales tax and assessment is over .In 07-08 the party given the payment after deducting sales tax, then what is the procedure for claiming extra sales tax paid?

09/02/2008

Pl.avail me chart/calcuator of provident fund & ESI to calculate the both.

Also confirm me detail as follows:
1.Due dates to deposit the payable amount of ESI, PF

2.Forms in which file the datewise return of ESI,PF

Thanks,

harish