Dear Experts,

Can any one share the depreciation rates for FY 2012-13
as per the
1) Companies act both for ( SLM)

2) Income tax Act( WDV)

my client case is running under FERA for levying penalty. my client did not file return because he said that if he files return and disclose property, then enforcement officer will inquire to income tax department regarding property details. so kindly tell me that under old FERA, said officer has power to ask and attachment of property? or is there any solution?

AGM is called on 30th September. But at the meeting quorum is not present. Last year AGM was concluded on 30th September. Can the meeting be adjourned? If yes till when?

One of my friend. who is a practising advocate.she makes her income under legal consultancy services say 2 lakhs per annum. Further since she has good knowledge of capital markets. She intends to trade in F&o (derivities segment). What will happen to P&L account if net profit from f&o trading is around 3 lakhs (the trading she may not do every day)
1. The purchase and sales of securities are shown in P&L and then N.P is calculated?
2 or only net profit is calculated manually and added as income from other source
3 is there any norms prohibiting as per advocates rules of practice not to trade in share
respected members may provide detail emphasis or any related rulings. Thanks to all

Whether it is necessary to prepare financial statements in revised schedule VI or it is ok if we prepare in horizontal form?
Pls reply...

IS IT COMPULSORY TO EXECUTE SHARE TRANSFER DEED IN CASE OF PRIVATE LIMITED COMPANY HAVING 2 DIRECTORS ONLY. AND ONE OF THEM HAS TRANSFERED SHARES TO ANOTHER DIRECTOR. THEY HAVE NOT PAID ANY STAMP DUTY.WHAT TO DO WITH IT?

N LTD INCORPORATION DATE 19/01/2011
AND HE HAS ENDED FINANCIAL ON 31.03.2011
AND HAS NOT DONE ANY ROC FILLING TILL NOW.
MY QUERY IS WHAT IS THE LAST DUE DATE OF AGM THAT CAN BE HELD FOR THE YEAR END 31.03.2012??

Whether board resolution is necessary if a company:

1. opens a branch office?

2. hires the office area of branch office on rent of a certain amount?

3. purchases fixed assets for its branch?

4. takes loan to purchase fixed assets for its branch?

5. appoints employees(please mention designation as applicable)?

6. Moreover, whether original copy of above mentioned minutes to be kept in branch or registered office?

Please advise.

Is there any time limit i.e for how many years a director can be appointed as Wholetime director in a private limited company.
For example: Is it necessary to include in the resolution passed at general meeting that the director shall hold office for a period of .......years?

Procedure for increase in Sitting Fee beyond the limit.