Dear Friends, a warm greeting to all.

Can any one please tell me that whether a Listed Company (Trading Suspended form last many years)which is a sick company having no business, has to follow the corporate governance norms prescribed by the Clause 49 of the Listing Agreements. Is it mandatory to follow for such company.

My question is this - are the level 2 and level 3 companies exempted from preparing Cash flow statement as part of final accounts?

National Advisory Committee on Accounting Standards has prescribed the AS-3 for companies.
Companies act section 210 requires that the P&L and B/S should be laid before the shareholders at the AGM.

thanks in advance

A person wants to avail a loan from a bank. For that he needs the IT returns for the last three years i.e F.Y. 2006-07, 2007-8 and 2008-09. He had income from business below exemption limit, so he did not file the returns in the past. He needs to file the same now. My query is that
1 whether he can file the returns for all the three years or only last two yrs' returns can be filed ?
2 If for the F.Y. 2006-07 return can be filed, then it is to be filed in ITR-4 or the form applicable in the F.Y. 2006-07.
3 Otherwise also, I want to know if one wants to file the return at a later date then the Return is to be filed in the form applicable for the concerned year or for the year in which one is filing the return .Please guide as it is very urgent.

Dear Sir,

One client (proprietorship concern) wants to issue Form 16 to its employees who wish to file their I-T Returns. However, the salary income of those employees are below the taxable limit & hence no TDS was effected during the P-Y 08-09.

Can the employer issue Form 16 if he DOESNOT possess TAN ?

Note: No TDS Liability under any other section also.

Kindly reply asap.

Regards
G. Sharma

what accounting entry pass in books of main company & division if transfer fixed assets to its new division and currently assets held in main company wip

COMPANY DIVISION DISCLOSED SAPERATLY OR INCLUED ANY HEAD OF ACCOUNTS

please explain me this provision under section 24(b) interest on borrowed capital
Interest is deductable even if capital is borrowed to purchase a plot but not for the purpose of construction of building on it.
please reply soon

Sir/Mam

A company has Equity share capital of Rs. 50 lacs and preference share capital of Rs. 50 lacs now, it wants to convert its Cumulative preference share capital of Rs. 50 lacs into Equity Share Capital. I would like to know that when we file Form 5 and form 2 in this case, then do we have to pay stamp duty on it as it has already paid at the time of issue.

i am a hindi midium student i want hindi notes for accounting standards.
please help me my exam for pce is in june2009.

please reply me as soon as possible.
thanks

the assesee registered with 100% EOU unit at month of september then how the treatemt income tax and company law .Please send me answer .
1) can i pay the tax till the september
or
2) the income arrived from export of software is fully exmpt and form no 56G attach with return

waiting for replay

Hi,

It is come to our Notice that there is an error in the Master Data of the Company in MCA site. We send a Master Data correction request to the concerned RoC. However, our request is not entertained by them saying that the company is formed in 2006 and the facility is not available for companies formed after computarisation of ROC affairs.

On our perusal, we have realised that the paid-up capital is shown more than what is actual.
The error is copied from the error on Form No. 20B filed.

We would like to get this error corrected

Kindly advice us the course of action to be done.

best regards,

Rajesh Pillai