The exemption notification permitting private companies for granting loans, subject to the conditions is as follows:
a) No other body corporate shareholder in the lending company;
(b) if the borrowings of such a company from banks or financial institutions or anybody corporate is less than twice of its paid-up share capital or fifty crore rupees, whichever is lower and
(c) Such a company has no default in repayment of such borrowings subsisting at the time of making transactions
Query :
The condition of borrowings less than twice of paid up share capital or fifty crore rupees, whichever is lower – does this condition to be fulfilled only at that time of making such transaction (read along with condition no. (c)) or does the time limit for condition (b) should be satisfied during any point of time until such borrowings clear to avail the exemption granted to private companies

Can anyone send me the format of NO OBJECTION CERTIFICATE to be received from previous auditor to new auditor that he has no objection?

I filed the IT Return for AY2017/18 online which was duly verified & accepted. As there was a Refund due I checked the status online on IT Dept website which says " Refund failed at CPC" as of 20/9/17. Can you tell me as to what is meant by this? I cannot understand this and what should I do? My effort to call them on their helpline did not go through.
Pls advise me.
Thanks

DETAILS TO BE DISCLOSED IN 'DIRECTORS REPORT' AS ATTACHMENT IN FORM-AOC-4 SHOULD INCLUDE DETAILS REALTED TO FINANCIAL YEAR ONLY OR IT SHOULD INCLUDE ANY CHANGE UPTO THE DATE OF AGM????

Sir,
Can we take ITC for Packing material purchased, used for sale of Exempted Goods (Pulses).

Dear Sir,

Our Company is manufacturing company situated in Maharashtra. One of our Foreign director come to official visit in India. we have paid hotel stay in maharashtra (Like Fortune Hotel and Taj Hotel in Mumbai)

My Query can we take the ITC credit on hotel stay paid bill for the same.

Kindly revert on the same.

I have received interest of Rs.3,00,000/- on unsecured loan paid to a partnership firm and TDS has been deducted by the firm. But I have also paid interest of Rs.1,00,000/- to my relatives on unsecured loan received from him. As such, my income from interest will be Rs.2.00 lac only. Whether there will be any problem in processing the return by CPC, as interest income will not tally with the interest income shown in Form 26AS ?

which is the best book for preparing ITSM

Is it better to choose big firms or small firms for articles??

i forgot to enter amount in eligible credit of purchase in 3B and submit it. a huge demand now. any thing possible to change it..