will professional tax deducted in bonus payment? Answer required urgent basis. pl clarify my doubt.

Thanks in advance

Is there any new amendment in bonus act or any notification regarding the increament in minimum basic pay limit. Earlier it was 10000/- p.m. Is there any such notification increament in this slab?

Kindly Solve this query

1. Is this a permissible transaction?

Information given below.
i. Organization : Partnership Firm
ii. Nature of business: Garment Exports
iii. Four Partner
iv. Son of One of the Partner gone Canada for study
v. Education Fees & Living Expenses paid from partnership firm.

Qst.
1. As per Income Tax Act we can't claim as expenses in firm book. But Can we make payment from firm bank account? Is there any violation of Income Tax Rule?
2. Is there any violation as per FEMA/RBI Act?

What is the difference between shares and stock in simple terms? why only fully paid up shares can be converted into stock?

In Carlill v/s Carbolic Smoke ball ltd. the company advertises that it will pay 100 pounds to the person who will contract influenza after using smoke balls for a certain period .
THIS IS CONSIDERED AS AN OFFER
In Pharmaceutical Society of GB v/s Boots Cash Chemists Ltd. the chemist displays the goods with price tag attached to them in a self service shop .
THIS IS CONSIDERED AS AN INVITATION TO OFFER .

In both the cases prices have been disclosed then what is the difference ?

My fathers's friend Mr. X take a loan of Rs. 1,00,000 in 20007 form Delhi narik Sehkari Bank Ltd. which is register under Delhi Co Op Societies Act 2003 and my father and one other person give surety/guarantee for loan of him, as they are already member of that society.

Mr.x was paying loan regularly, but in 2011 that man lost his job and is not paying his loan, after one year notice to Mr.X, but he did not respond to any notice of bank of Rs. 70,000

and now in oct 2012 my father got summened from Registrar of Arbitration, registrar called both the surety on 9.10.2012

I want to ask position of two surety (one o f of him is my father ),

who will be first liable for loan,
1. Personal Assets of Mr. x is first liable ( as he have two home in Delhi which valued about 30 Lacs )
2. or two surety have to pay Loan of Mr. X

and if Two Surety have to paid loan , are both surety can recover amount from him. legally

Please help me in this case, so that i can help my father

In case of computing the net wealth of assesse who is a partner in a Registered firm, the net wealth of the Firm is to be included in his wealth in capital sharing ratio.
How will the net wealth of firm be divided if 2 out of 3 partner have debit balance in capital account?

If any of you have soft copy of MOA and AOA of river rafting business, then kindly provide the same or email me at sagar_bhadra@yahoo.co.in

Will be really thankful to you.

I am about to tranfer partnership firm to a private limited company. I am confused regarding the company law for a director,who is willing for self withdrawal, expelled by board of directors or in case of permnant disability & death.
I am from medical faculty & unable to understand legal wordings mentioned in the law books.
Can anybody explain me in easy language ?
please help me.
Can we mention the above mrntioned conditions in the memorandum of articles ?

my querry is that a foreign national is a subscriber of a MOA in indian private limited company and wants to send some money in india as a capital and other type of investments.
weather the company will take prior permission to take foreign money or not ?
and mode of that investment by foreign national and if permission required then what types of approval will be taken by co. and which forms?
regards
CA Abdul Rashid