Hi...

I would like to know what would be teh difference between Pvt Ltd Co and Ltd Co ( Closely Limited Co and not public limited ) in terms of company formation including no of directors, no of shareholders, minimum capital, etc.

E.g. ABC PVT LTD
ABC LTD ( Closely Limited )

Kindly suggest the options asap

Thanks,
Prashant Sawant

Sir if someone shows his income from job work Rs. 15 Lakh then to what extent he should booked job work charges against this job work income.
Is there is any internal circular issued by the I.T Dept. in this regards?

Plz help me

Thanks in advance
Shammi

i have completed my articleship in feb..and duly submitted form 108...in march i was informed by icai to serve excess leave....i am giving my finals this may...my query is whether i can serve this excess leave after exams and which form i need to submit in that case...
Also...will this constitute break in articleship or will it be considered as continuity in service since i have already completed my 3 yrs of articleship...
plzzz help...

one of employee in our compnay has purchased a property last year in his wife name(owner of the property) but finance the loan in the joint name in which first name is his wife and second name is his own(co-borrower)and he(co-borrower) is pay all the installments of the loan. now my question is that is he take the benefit of interest and pricipal amount if yes pls. give me the such reference of any book or e-book, if not than who can only claim the benefit and how the co-borrower can save his own income tax. please clearify me in detail the 31st march is very nearby.

thanks

Whether TDS is applicable on payment to NRI for purchase of Immovable Property. If yes, what is rate of TDS?

Whether any exemption for non deduction of TDS. If yes on What Conditions?

Dear Sir/ma'am

The Facts are as follows:

Company A (Indian Company) is subsidiary of B Company (Foreign Company).
A co. has many Companies as group Companies.
B Co has appointed a delegate in India to supervise A Company and A Company's group Companies ( Entire Indian operations). That delegate is appointed as the Chairman for A Company and its group Companies. All the Companies are Public companies.

Query:

1) A Company wants to lend money to its group companies. Will the Section 295(1)(e) of Companies Act 1956 be applicable in this situation?? please help me with case laws.

Thank You.
Regards

Hi Sir,

Whether the amount of stamp duty and registration charges for the purchase of Land, which will be utilized for constructing a residential house property,incurred by an individual will be eligible for deduction under sec 80C?

Thanks & Regards
Smenon

Sir

Pls let me know about the Courses in the Field of Taxation apart from CA/CS/ICWA.

I have done M.Com + MBA(Finace)(Through Distace Education) and presently working with Limited company as Accounts Officer.I want to continue my studies in the Field of Taxation

Is CFA from ICFAI has relevance?what about their legal dispute with CFA-USA


You can also send me answers on sanjeev12974@yahoo.co.in

Regards


Sanjeev Sharma

A Ltd. is a government company which has declared the dividend on its 4% Cumulative Preference Shares in the AGM held on 09/03/2010 and diposited the dividend amount in the dividend A/c on 14/03/2010 (within 5 days from declaration). On 16/03/2010 company received a letter form the Central Government directing the company not to pay any dividend to the shareholders because Central and State Government is providing grants to the Company for specific purposes.

Considering the directions of the C.G. Board of Directors in there meetind held on 22/03/2010 decided to write a letter to CG mentioning the fact that company has already declared the divided and it is bound to pay dividend within 30 days from the date of declaration.

Board of directors also decided not to pay dividend untill the further clarification of CG in this regard.

Now my question is (it is very unlikely to receive the clarification before the expiry of 30 days) in such situation after the expiry of 30 days whether compnay should hold the dividend amount in the dividend account or it should be transferred to the unpaid dividend account.

Please also advise me whether the decision of Board of Directors to hold the payment of dividend is correct.

Hi,

This is a practical problem I am facing while preparing the financial statements of a foreign entity. "A" company received share application money of USD 30,000 which is inclusive of share capital and share premium in March 2009 in its USD bank account. The allotment of shares was done in April 2009. The share certificate states that the issued shares are 1,000 shares of EUR 1 each and a premium of EUR 23 per share. The USD/EUR exchange rate in March 2009 was 1.25 and in April 2009 is 1.50. The reporting currency is USD. Please suggest me on 2nd entry:

1st journal entry: (On receiving money in March 2009)
Bank Dr USD 30,000
To Share application money A/C USD 30,000

2nd journal entry:(On allotment in April 2009)
Share application money A/C Dr USD 30,000
Currency exchange results A/C Dr USD 6,000
To Share capital A/C USD 1,500(1,000*EUR 1*1.50)
To Share premium A/C USD 34,500 (1,000*EUR 23*1.50)

Do I need to recognize the currency exchange results on allotment of shares. Kindly advice.