can any body guide me over this -

the query is regarding applicability of the Indian companies act and
other applicable legislation of a partner of the stautory auditors of a
listed company(abc ltd.) appointed as a director on the board of a 100%
subsidiary company registered and incorporated in a foreign country.

it is also pertinent to clarify that the aforesaid partner of the
auditors firms is not a signatory to the annual accounts and auditors
report of M/s abc tld..

Q. whether the partner of the statutory auditors firm can be appointed
by M/S ABC ltd. on the board of its 100% foreign subsidiary even if
such partner is not auditing / signing the annual reports and auditors
report?

Reagrds
Shruti

Suppose one person has income which is comes under taxable slab and he has submitted the return accordingly.
If next year he has income which is not taxable, so now will he be liable to submit return? if yes then under which section...

Pls Guide..


Thanks,
Abhishek

A Company already doing business has increased its authorised Capital.
The Expenses incurred for the same has been taken as prelimenary expenses. Is the treatment right?

Hi , This is a question from Pg#66 Revision prob 7 of the PV Ram & SD Bala 2nd Edition Book . I am not satisfied with the solution given for the problem in the said book . The question is as follows :
A bottle manufacturer operates two machines each with capacity of producing 1000 bottles per annum . The Machines have an infinite life & no salvage value . The operating Expenses are Rs2 per Bottle . During the summer machines work to Full Capacity but during winter bacause of slack in demand they work only 50% capacity . The Co is thinking with the idea of replacing these machines with the two identical machines .Each machine would cost Rs 6000 and last indefinitly .The operating costs are Rs 1per bottle .What should company do ? Cost of Capital 10% .
Note : As per my analysis the the co should replace both the machines but the books answer is contrary . Please suggest me the correc answer .Also if any alternate solution exists pls guide .
Thanks in advance ,
Gufran Khan

A company has purchased a car which is given to one of its employees for his exclusive use. Purchase price was paid directly to the dealer by the co. Car is registered in the name of the co. As agreed between the co and the employee, the co will recover the cost of the car over a period of 36 months in equal instalments without any interest. At the end of three years, the car will be transfered in the name of employee at Re 1/-. In this context I would like to know that whether the cost of the car which recovered by the co without any interest will be subject to perquisite valuation taxable in the hands of the employee?

Dear Sir,
Please clear my confusion about TDS to be deducted on Accounting charges paid ?

Dear Experts,

If we have taken consultancy from Foreign country and payment made by one Indian company to other Indian company by grossing up of TDS amount at Indian prescribed rate of tax and then that Indian company pays the amount to forging consultant by again grossing up of that amount.

I want to know is this process correct?

Rgds/-
Anil Jain

Dear Friends,

I am handled statutary audits of Individual,Firm & Pvt.Ltd.Company in our office.I want to know what is the exact duites & responsibilities of statutary auditor in audit.

Which area I have to concentrate more at the time of audit & finalisation.

While audit of pvt.ltd.companies how to know which section is applicable or not? & which section is violate or not? In ROC matter also how to know what is applicable or not?

Pls.solve my query asap.

Regards,
Prakash Jasani

email id:prakashjasani_56@rediffmail.com

as per sec 283(1)(g) a director has to vacate the office if he absents himself for 3 consecutive meetings or all the meetings in a year whichever is longer.,without obtaining leave of absense.,

so it means a director need not vacate if he subnmits his leave of absence n the same being approved by the Board

while preparing balance sheet what are the areas where we will consider please let me explain with details