I request you to kindly clarify the following.

1. Is prior permission required by an Indian company (Pvt Ltd) to take loans from a foreign company (Pvt Ltd in Singapore). Both the companies have some common directors.

2. Is there any limit upto which prior permission not required in the above situation.

Thanks & Regards,

We have a standard practice to deduct 12% of entire basic salary as EPF from all of our employees and the same amount is matched by the company as Employer PF.

One of our employees, who is getting basic salary INR 100,000 per month and contributing INR 12,000 per month as EPF, now wishes to contribute PF on the maximum basic salary of INR 6, 500 (i.e. INR 780 ) as defined under the Act.

Request you to kindly advise me on following;

1)Is it possible to limit his contribution on 6500 now & when the person has been contributing on higher basic salary previously?

2)If yes, can we follow this practice for some of selected employees if they desire to do so?

Can an individual lend money to an individual. Can he charge consideration for such lending. If yes, plz specify the maximum rate at which such lending can made Plz provide the format of the loan agreement to be executed for such transactions.

What document shall the lender asks from the borrower to safeguard his own interest in case there is default in repayment of loan or there is a breach of terms of agreement.

To Respected Experts of Caclubindia,

1) Sir, if a person wanna to gift a property to another, then how the deed will be drafted.

2) The abovesaid property is mortagaged with bank, the emis of bank would continue for fewer more years. If the deed is executed at present, will the deed be valid since the bank has right over the property.

3) If the deed will be invalid if executed at present, then is it possible to draft a deed in which the ownership will be transferred to another person as soon as emis of bank are over.

Kindly provide the format of such deed.
If possible kindly communicate at
jha.amarjeetkumar@gmail.com


Thanking you

Dear Experts,

Kindly Guide me the following case.

We filed Form 1A with Authorised Capital Rs.1000000.
Can We change the Authorised capital of Proposed Company into Rs.1500000 in Form 1.

Thanks in advance.

Sir,
(1)for the purpose of computation of depreciation under companies act, should we take the date of purchase of asset or the date asset was put to use?
(2)Is computation of Deferred tax asset/ liability required in case of a newly established private company,which has not started its operation except for a few expense and thus having a debit in P&l?
(3)is depreciation to be considered in case the company has not started its operation?
plz reply to my queries....

how to reg and cal procedure of pf and esi

If a company files there APR on say 24 june and new RBI circular on APR comes on 1 July, is company is required to comply with those guidelines and file revise APR. And if RBI rejects for want of Complying with new guidelines wat stand does the company has .. ??

One of my friend made contract with PCS to work on behalf of the company at any TATA Project then manager of TATA refuses him to work in his office. Now my friend was called that he could not do job at PCS and my friend says that"he will do the job at other project of PCS". And the second project is far away from his resident (in another city) and my friend wants HRA(House Rent Allowance) to do job at the other place but PCS do not want to provide it and want him to leave the job. Can my friend Claim Against the PCS Company???If yes under Which Law?? and please provide related Case studis

Had a few queries:

1.If we hire a trainee for 6 months/one year and he is paid stipend/out of pocket expense is it ok? Does he have to be taken in company payroll and given the statutory benefits. How will his stipend be treated as per income tax law?
2. Can medical reimbursement which is tax exempt upto 15000/- be given monthly? If paid monthly will it be treated for tax purpose as medical allowance?
3. Can LTA be paid monthly? If it is tax exempt once in 2years than can we exempt the employees on production of bills in one year and tax his lta the consecutive year?