I had recd. notice from st for disallowance of input tax credit for company as hawala dealer. Vendor whom I used to buy goods had valid vat tin. Vendorgot his vat tin cancelled but still continued to do business with everyone. Now, he has been declared as hawala dealer & we have got in to trouble for all the goods procured after his cancellation date. As purchaser how can i do audit of the vendor for every invoice whether his regn. is active or cancelled.

I have heard that this is just start now IT will also come and ask for disallowance + interest & penalty. Is there any way where I can avoid this.

1) A Director has been appointed as Director by passing resolution in Extra ordinary General Meeting. Should one consider him as Director or additional Director ?



2) Can a company appoint additional directors through EGM?

Is it necessary to give numbers to Board resolutions passed in private company. If yes, why it is necessary?

One clause of AOA as " The number of Directors of the company shall not be less than two and not more than twelve and shall not be liable to retire by rotation"



Next clause of AOA reads as " Subject to provisions of Section 260,262 and 264 and 284 (6) of the Act, the board shall have the power to appoint a Director to fill casual vacancy or as addition to the Board. Any Director so appointed shall hold office only till next AGM."


Question : From above clauses can one interpret that All Directors are permanent directors except casual and additional directors?

Dear experts

A person having one time professional receipts of Rs.3,00,000 on which tds u/s 194J is deducted i.e. Rs.30,000. He has some expenses in rendering that service amounting Rs.2,50,000.
The net income being Rs.50,000.
He has salary income also of Rs.8,00,000

My query is : can he claim Rs.50,000 as other income and file ITR1
Or
He has to show Rs.50,000 as professional income and file ITR4

Note: Profession is not covered under specified profession.

Please give your valuable feedback.

Thanks
Rachit

I have left india In Nov-2013 to live in UAE.
I got the salary there as i am still Resident in the First year Its taxable.
But TDS Applicable ??
My salary taxable in which section ??

Sir, as per the Union budget 2014-15, the hon'ble finance minister has proposed to the applicability of IND AS, as per the headline is running in the highlights segment of ICAI website, i.e, www.icai.org which says as "ICAI welcomes the announcement for implementation of the Indian Accounting Standards (Ind AS) by Indian companies in the Union Budget 2014-15."

Sir, in this regard i would like to ask that ,
1.)Will the IND AS would be applicable for the final course, in may 2015 examinations? and
2.)Please let me know that whether the institute has adopted these changes in there course for the final course?

REPLY ASAP

SIR, PLEASE GUIDE ME FROM WHERE CAN I GET QUESTIONS ON NET TO SOLVE CASE LAWS IN THE SUBJECT MENTIONED. PLEASE PROVIDE ME WITH LINK THAT CAN TAKE ME TO THE CASE STUDIES OF CORPORTAE & ALLIED LAWS CHAPTERWISE

a person who has taken a hotel(lodge)in rent and manages all affairs and pays rent to owner. what nature of business shall be selected when he wills to file return ???

hi,
i am in job with a company A from 1 april to 30 july,2014 & got salary 2,02,008 with tds of 10,000 rs.in city z,they show HRA in salary slips,i claimed every year.but i didn,t got form 16,i come to know from 26 as all detail
then i left that company,remain unemployed from 1 august to 30 nov.
I joined company B in december in city x,i got total 2,97,580 with nil tds,they didn,t show hra in form 16 nor in salary slip,but i have paid rent from december to march 2014.
now how i claim hra deductions for both different cities or for rent paid for same financial year.how i calculate tax.plz help.