An Independent Director in a listed company is a technical person and becomes in charge of production in it. He has lost his independence and hence wants to become a regular director.

We can not file Form 32 with MCA as there is no provision for this kind of change.

Pl. suggest the procedure so that he does not have to resign as Independent Director and join the company back as regular director.

Is there is any solution for removing default of short deduction due to Previous Employer Income on which TDS already deducted.

Eg: Previous Employer Income-1,50,000/-
Previous Employer TDS- 30,000/-
Current Employer Income-4,00,000/-
Current TDS Deducted-15,000/-

Whether Stamp Duty is required to paid for normalizing a dormant company?

What are the consequences if AGM is not held of educational institute registered under Societies Registration Act, 1860

• Basically my client has Govt approved Fair Price shop (ration shop)from last 15 years.
• Assessee earn fixed commission of Rs.35 per 100kg on sale of wheat & rice and Rs. 10 per 100 kg of Sugar.
• assessee's monthly income range between Rs. 5000-7000. But turnover (cash Sale) range between Rs 1.5-1.7 lac p.m.
• Assessee deposit cash sale in bank account and after that allocation (purchase of good from govt.) made through NEFT to govt account.
• For A/y 2011-12, assessee had not filed ITR, in October 2012 he had received notice for non filing of ITR from IT department.
• In reply of that he had filed ITR in Nov 12, by putting some arbitrary figure of gross receipt of 8-9 lac and taxable income 1.70 lac. Mentioned in letter to AO that due to our taxable income is below exemption limit so we have not filed ITR previously.
• After that he received another notice of AIR for cash deposit of Rs. 19 lacs and Notice u/s 148 for income escaping, demanding ITR to be file u/s 148.

Now, my contention is that whether i should revise previous return filed on arbitrary basis or fight on ground of original return. Because our case is so genuine and we have all documents which can Proof that assessee's income is below taxable limit.

Dear all,

Please spare a couple of minutes to solve a small question.

When bank stock statements are submitted, the bank even asks for Sales and Purchases of each month.

My question is whether these figures of Sales and Purchases should be inclusive of VAT or exclusive of VAT.

Please reply with appropriate reasons.

Thanks

fire extinguisher purchased should be capital or revenue exp???

if captal then at what rate it should be depriciated

Dear Experts,

I have a query regarding the donations made to charitable trusts/NGO.

We are a "For profit" organisation,we raise funds for NGOs on their behalf, and we keep a margin/service charge from all the donations collected from donors.I understand that our 15% margin will be taxable income.
The NGOs will receive the remaining amount(85%)after deducting our margin/commission. Since,only the NGOs will be able to provide the 80G Receipt to the donors for tax benefit/Excemption.
Can the NGO provide the receipt through us?

We want the Donors to make contribution using our services and still get tax excemption for the 85% of the donation amount(which goes to the NGO)

how will this be shown in our books? how to make the tax benefits for donors possible?

your help is well appreciated,
Thank you.

A PVT LTD CO. PAID SERVICE TAX OF Rs 1100000 in F.Y 2011-12
SO IN F.Y 2012-13 the co was liable to pay service online but the co. has been depositing the same manually...

What are the consequences..???

which method should be followed for payment of service tax to government?
1.Agreement basic or
2.Amount Received Basic