A private company has undergone Capital Reduction. The Scheme has been approved by the Court. As per the Scheme, a part of the paid up value of each share would be repaid to the shareholder. The relevant facts are as under:

Amount of capital to be repaid Rs 300

P&L Acc(as per latest audited a/c) Rs 140
Capital Redemption Reserve Rs 400

As per the Section 2(22)(d), any amount repaid under capital reduction, then to the extent of accumulated profits, capitalised or not, would be treated as Deemed Dividend.

In the given example whether the amount of CRR would be taken into account for the determining the amount of dividend on which DDT would have to be paid? Can CRR fall within the ambit of be treated as accumulated profits, capitalised or not, esp when it can be utilised for issue of bonus shares.

thanks in advance

sir i have cleared pe2 group1. if i will convert in to ipcc can i get attempt in nov 2010 examination with out completion of ITT and oriented program

sir i have completed pe2 1st group.if i will convert in to ipcc can i get atempt in nov 2010 examination with out complete of ITT and oriented programe

Hi

I am glade to download ZIP file “Excel to tally ver 1.1” from CA CLUB INDIA from link https://www.caclubindia.com/share_files/excel-to-tally-ver-1-1-28897.asp but I fail to open it and work. Please reply me how I can use it?

Thanks.


Currantly I convert Excel file to tally using mail merge which is diffcult & time taking.

U me mail dharmco@gmail.com

My client receives exemption in Sales Tax based on the salary given to the staff for first 5 years of company in existence.

We get the amt. of exemption after 5 years completion.

Now, on year end, the position is that we recd. grant of say Rs. 100 and take set off in Sales tax for Rs. 40 and balance Rs. 60 still stands in VAT Receivable A/c (Govt. Grant).

What is the proper accounting treatment at the time of getting Exemption or Grant , at the time of monthly set off with VAT Payable . How to show Grant in Financial statements?

Basically, I am confused whether it is a revenue grant or capital grant.

Am a result awaited ipcc student apprd in may 10 but hav nt registered for b.com hav heard reg the icai ignou mou but didnt got the required information pls proovide me the necessary details & admsn procdr.....

A professional firm is liable to tax u/s 44AB if the gross receipts excedd 10lakh RS. M/S ABC is a partnership firm following cash accounting system. The total turnover is 9550000/-. It considers credit on receipt basis i.e it takes the credit of TDS only of those amount which it has received during the year irrespective of the year of income.Whether the accounting system and method followed by the firm is correct????? And whether it has to offer any TDS deducted by the clients in the current year in the sales A/C??? Whether TDS deducted by client of the party should be considered on receipt basis???? Please provide supporting

Dear Experts,
I have put this query sometime before too..but it is not being replied thats why i have again posted here because that question may not be viewable now by the experts.

Please tell me how i have to pass while entering in a Forward Contract and honouring that forward contract.

With regards,
Rajesh

It is find that there is no provision for giving the information on DTAA..

the income earned by assessee outside india and
tax paid outside India covering under DTAA for which no provision is available in ITR.

Experts please suggest how to show or declare the information on DTAA

1. A private company was incorporated in 1996 with a paid up capital of Rs 20000 ( twenty thousand ). It has not increased the paid up capital to the threshhold limit of Rs.100000. It is understood that the company can make the default good by filing form 2 now. Now the query is whether the increase in paid up capital is to be backdated or Can it be filed with current date ( the company has filed form 20B for all the years but not filed form 23AC or 23ACA ) ?


2) Where can I find the application for grant of immunity ? ( which is required to be filed if any documents are filed under this scheme )

Thanks in advance