Dear All
My bank is providing finance to a indian company for investing in equity of a company located in saudi arabi. Is there any way through which shares of the saudi company can be pledged or can i create any charge on the assets of the saudi company in favour of the bank.
In other ways how can i get a secuirty of the saudi company to the extent of my loan

Presently i have taken the corporate guarantee of the borrower company and extension of charge on the assets of the borrower.

Regards

Sriram Peri

Hai friends



I have come across a problem. A sole proprietorship is converted into a company. after that all income and expenses are booked in the name of the company. But the company forgot to intimate it to their clients and they continued making payments in proprietor's name. Actually the income is booked in the name of the company. But the problem came when the client issued TDS certificates in the name of proprietor. They are not willing to change it.

Since the proprietor has no income since all income is booked can he claim refund for the tax deducted in his name.

I am a PCC article. My querry is that at this level of CA what is the best field to my pursue articleship into, is it internal audit or direct taxation (basically income tax & all that). Currently I'm doing my articleship in a mid-sized firm.
I have just cleared CPT in June '08, have done my graduation in Eco.(H) from DU and cleared 12th in commerce stream.

So basically which one of them provides us more learning and has more value in the market.
Mostly importantly considering the fact that which one of them would be the best for me to do at current level of being a PCC article.

And is it true as some people say that if at PCC level you do your articleship in internal audit only, then after clearing PCC exams & enter CA final articleship and apply into big 4 firms they would preferably put you into or offer you to continue your articleship into internal audit only and not into taxation, because at PCC level you have done internal audit only so they would offer you that field only...?? Is this true...??

Any replies would be really appreciated.

A company was incorporated in July 2004 . The company started Restaurant operations in the May 2005 .


The restaurant business was continued by the company till March 2008 . The Company has also exported frozen food to United Kingdom . Due to heavy operational cost the following losses as per income tax are accumulated .


Kindly advise if what conditions are to be fulfilled for claiming losses under Income tax Act in case we opt to merge this company into some other profitable company .


With regards

Sandeep Rohatgi
09868705794

Suppose the income is shown in A.Y. 2007-08 but the TDS was not claimed in the INcome Tax return as the TDS certificate was not available at the time of filing of return. Now we have received the TDS certificate and we donot want to file the revise return.
How can i claim the amount?
Whether a letter is suffice writing to AO about the details and claiming it?

Can i claim it in A.Y. 2008-09 as SEc 199(3) is amended where it doesnot speak that the TDS will be allowed only in that year in which income is offered?

Hi,
we have to send materials from chenani to Gurgaon to a customer who is in SEZ and he had submitted the form to us.
Actually we are sending the materials thro our Supplier to the customer directly.
In form 38 whether we have to fill our name or the supplier name who is sending the materials on behalf of us.
Also confirm whether the materials can be sent thro Delivery challan or invoice is compulsory.
Pl advise.

Please tell me VAT on Fixed Assets my Register on work Contractors ,
fixed assets for business not for sale

if the director of the company pays club membership fees for joining a club , so that he can increase his network and business contacts ,whether that expense is allowable in the books of the company???

I have taken commodity forward but due to price fall i want to cancel this forward.
As a result of cancellation the differnce of loss has to paid.Is such remittance allowed under RBI regulation?

Case will go for assessment either to ITO, CIT or Add.CIT is depends on which criteria. is there any Total Income slab which decides that this case will go to the ITO or CIT or Add.CIT