Facts of the case:
1. He is a sole proprietor
2. He has foreign clients in his clientele
3. Nature of business is that of Designing and printing
4. He expects to raise invoices of some in foreign currency and some in INR.

Query:
1. Whether FEMA is applicable to this enterprise?
2. If yes, pls can u guide me as to basic details as to how go about with the compliances of the act.
3. The enterprise is to start its operations from the next month.

author : Break Water
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Posted about 9 hours ago
Hi,

We have started the partnership firm (including me and other one) in 2010 and did the below process as of now.

1. We have prepared the partnership contract details on stamp paper and for the same we did the notary (included our firm's name).

2. Registered our firms name and address with local town’s municipality.

3. Procured the CST/GST number on basis of above document.

4. Procured PAN number of our firm.

5. Opened current account with nationalized bank of our firm.

As my other partner is not doing much activity so I want to remove him and include other but I want to keep the firm name same as it is as well as CST/GST number, PAN Number and bank account.

For your information, we have not registered the partnership firm with registrar office and with district industrial center (as SME or SSI unit). But now we are looking for those processes also.

Currently the firm is not started full fledged.

Your advice would be much appreciated.

Thanks.

Sir/Madam,

I attended an interview in one of a co-operative bank, they asked about senior citizen age. My answer was 60 years. I m confused whether its 60 or 65 years. As per the income tax rules, now the age is reduced from 65 to 60 years based on that i answered that question. kindly solve my query.

regards
Kavitha

Hello I will pursue graduate degree in BMS this year ,Now I am planning to pursue LLB degree through correspondence I want to know what are the procedures to seek admission in LLB
Plz reply

Hello Expert !!

I am Ex- Employee of Ernst and Young - Mumbai. I am a Nepali Citizen.I worked with that entity for 2.5 years. After resignation from the service i was told that PF regulation/ACT has got changed and i can withdrw my accumulated balance on the early of the following date:

a) Attaining 58 years or
b) Death..

My query is waiting till 58 years is quite long. Is there any way out to encash the PF balance.

Waiting for response.

Dear All,
I have a question on ESIC applicability.

If an employee is registered for ESI & his Gross Salary is Rs 14000 till March.
In April, his salary is increased to Rs 17000(Gross). Is he eligible to continue his ESIC contribution?
(employee want to continue ESI)

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if a company purchase a property in the name of the Director as "A.B.C. Dirctor of XYZ Co." and the payment is made by company,
whether this transaction is Benami?

and if property is purchased in personal capacity of Director and the payment is made by Company.
Whether this will amount to Benami?

A person is declared insolvent if his liabilities exceed his assets. Once declared insolvent, he loses his right to contract until he obtains Certificate of discharge from the Court. How and when is certificate of discharge issued to an insolvent? Is it issued automatically after a fixed period or it is to be applied for by the insolvent?

I am, in individual capacity, giving loan to one of my friends Rs. 2,00,000 in cash.

Now what documents(like stamp paper/promissory note) i need to get prepared. Is it legally enforceable for repayment in case if he does not pay.

Please describe in detail.

thank u in advance.