i am not aware of working of stock exchange how it function and what it reflect.

One of our client has given his land on lease of 99 years to a company for a lease rent of Rs. 30 lacs received in advance.Will this transaction be treated as 'Sale' for Capital Gain Tax ? If yes, Why ? If not,then how the rent should be taken into computation of income.Entire Rs. 30 lacs or Rs. 3000000/99=30303 for the FY 2007-08 ?

Statutory meeting was held with in 6 months but i have filed Form 22 with late fees but RoC is asking for explanation for delay in filing form 22 otherwise penalty u/s 165 is to be inposed.

let me know what would be the explanation for filing form 22 late.

jatin vora

Iam Sivakumar.M would like to do idustrial training, i have completed my 2 years of articleship. My CA final exam on May 2008, i have to take leave by January 15th, so whether its possible for me to do Industrial Training.....Pls Help

pleae send me CAFinal Nov'07 Corporate Law Paper

Plzzz sir,

hi friends....
i would be pleased if you post a link (or) file for checklist of voching and general checklist....
please

I wish to know the qualification & Qualities of CEO's

Thanx in Advance.

Hi,



We have a client who have purchased a land from a ECB loan borrowed for this purpose. Can the Interest on ECB loan be capitalised? Is "Land" a qualifying asset under AS 16 for capitalisation of Borrowing Cost?



Vidya

DESCRIPTION OF THE CASE:


· The Transactions happened in the year 2001-02


There were 3 Companies in existence. Company A, Company B and Company C. Company A and B were merged/amalgamated with Company C. All these companies were having businesses in trading and distribution (not involving in any software or allied business)

The scheme of amalgamation was Assets and Liabilities of A & B were taken over by C at their book values.

Over and above this Shareholders of A and B got certain shares in C in the specified proportion and value.

Company C created Goodwill Account equal to difference of New Value of shares in C less Old value of share capital in A and B put together.

There were no transactions in cash or by cheque towards Goodwill creation. Consideration was only by way of issuance of shares in C.

Opinion required on:

1. Does this Goodwill attract any Sales Tax in the year 2001-02. If yes at what rate?
2. Company C’s Sales Tax assessment completed and order was passed for the accounting year 2001-02.
3. Under Amnesty scheme 2004 Company C paid the differential amount (aspects other than the aforesaid Goodwill) on certain other discrepancies pertaining to year 2001-02.
4. Considering aspects/developments 2 and 3 above even if ST is payable on Goodwill, whether the same can be claimed by the department now.

hai this is harini am student of ca pe2
i gave attempt this month for pe2.
no dpubt i will fail.my last attempt is on may 2008.am planning to convert into pcc.can i jump.if i change pe2 to pcc when will be my 1st attempt to write exams.please suggest me am not understanding anything