I note that there are no restrictions on payment of remuneration to a Director of a Private Limited company.

1. Can the remuneration be structured in to basic pay, HRA, Dearness Allowance etc. so that he can avail of HRA exemption by submitting Rent Receipt to the company for the rent actually paid by him for the residential accommodation?

2. Also if he could also be provided facility for medical reimbursement upto Rs.15000/- per annum and reimbursement for Petrol, maintenance of car, insurance renewal of premium on car? It is understood that the company will pay Fringe Benefit Tax on the reimbursement

If so if you could you suggest text of the Board Resoluation to be passed in this regard?

Thanks and regards

pls clarify that whether the amount mentioned in agreement as initial issued, called up , subscribed & paid up capital has to be actually paid in full before getting the certificate of incorporation?
what are the provisions for this in companies act, 1956, whether part amount of it can be taken?

Dear sir,

During the A.Y. 2008-09, an individual assessee Net income was as below,

Salary income - 80000
business income - 30000
lottery winnings - 10000

therefore, his total income was 1,20,000. He is liable to pay tax on Rs. 10,000 on lottery winnings @ 30% plus 3% cess.
i.e. he has to pay total tax = 3090/-

However, he has a UNABSORBED DEPRECIATION OF Rs.10,000.

THE QUERY WAS:

1. The unabsorbed depreciation was can be set off against any heads of income, so whether it can be set off of against casual income like lottery winnings?

2. If it is set off means it is benefit to
assessee, because he sufferred due to 30% of tax on Rs. 10000/- and he is not liable to tax during the previous years.

3. Whether it is permissible by Income tax Act? what the section 58 specifically says about this?

Please clarify me with regards to share capital, ie. in the agreement it is mentioned that the initial issued, subscribed and paid up capital will be Rs 20 crores, but in Memorandum & Articles of Association it is subscribed only Rs. 15 Crores,
then my question is that how much amount is to be paid by the memebrs of the company?
whether if only Rs, 15 crores be paid now then will it be in contradiction to the companies act, 1956.

whether we have to file annual e-tds/tcs return? can you tell me the form number and date for filing the same?

What is Professional Tax? When it is required to deducted . return and assessement and rate

Refer to Notification F No S-35012/05/2008-SS-II dated October 1, 2008 wherein as per the modified provisions of Para 36 of Chapter VI of the Employees’ Provident Funds (Third Amendment) Scheme 2008 (“Scheme”), it is the duty of the employer to file a declaration in such form as the Commissioner may specify giving specified particulars of “International Workers” as defined in clause ff of paragraph 2 of the Scheme. Kindly provide me with the format of that particualr form wherein the details can be submitted. whether the form has been notified. .. please... guide me...

A Cost Accountant join 15th June, 08 and his acceptance of appointment is come on 30th July, 08, Company forward the all data of 07-08 on 15th Sept, 08. Cost Accountant submit report on 25th Sept, 08 to central Goverment. in that Situation can Cost Accountant is liable for the FIme of Rs. 5000 due to non compaliance of non submition of report in 180 days of closer of Financial Year.

Hello dear ones,
I've cleared Ist group of CA Inter in Nov.1992, but was unable to clear the rest. Now I wish to appear CA Exams again. I had successfully completed articleship by 1992. Can I take CAExams again without again doing the articleship.
Can I sit to PE-II during May 2009 or can I enter to new scheme without again undergoing articleship?

1) Is it true that the RG registers have been withdrawn??
2) If it still exists, then what are the consequences of non-compliance ie for not maintaining the registers??