Urgent

According to Sec.224(5) of the Companies Act, when the BOD fails to appoint the first auditor within the time stipulated therein, the power to appoint auditor vests with the shareholders and they can exercise their right in a General Meeting.

Now my question:

Whether shareholders appoint the first auditor in the 1st AGM of the company? Provide reasons for the same.

Sir
I would like to know the procedure to convert a private ltd co. to public ltd co.
regards
CA Saugata

Sec.217 (2A) Requires information regarding the employees to be given in director's report. The clause states to include those employees who are in reciept of Remunartion of Rs.24 lacs p.a or Rs.2lakhs per month. My query is what if i have an employee who is earning 50000 per month, joined my organisation in Feb 07 and got the joining bonus of Rs.3,00,000.Will that be included in the list of employees under sec.217(2A)?

sir,

my builder has given me temporary posseion letter for making furniture and fixtures stating that he has not receive occupation certificate from bmc. and he in actual gave us posseion and we stayed in the house.is this possesion letter valid in view of income tax for transfer of property and calculating the holding period of 36 month.

I would like know are partnership firm liable to deduct TDS even if their turnover doea not exceed 40 lacs?

i cleared pe II in nov'06 and joined my articleship in feb.

when will my final be due , may'09 or nov'09...

cleared my pe2 i am looking to work in top audit firm in blore plz give me list of contact address

A and B are partners sharing profits and losses in 3:2.Capital of both are 30k and 15 k respectively. They admitted C agreed to give 1/5th share of profits to him. How much should C bring in towards his capital? How?

Partnership accounts

Case I)
A and B are partners sharing profits in 3:2. They take C as new partner who is “supposed to bring” rs 25000 against capital and RS 10000 against goodwill. New profit sharing ratio is 1:1:1. C is able to bring RS 30000 only. How will this be treated in the books of the firm.

Case II)
A and B are partners sharing profits in 3:2. They take C as new partner who is “supposed to bring” rs 25000 against capital and RS 10000 against goodwill. New profit sharing ratio is 1:1:1. C is able to bring only his share of capital. How will this be treated in the books of the firm.

Options of both the cases are:
i)A and B will she goodwill brought by C as 4000:10000
ii) Goodwill will be raised to RS 30000 in old profit sharing ratio.
iii) Both iv) None

I am confused abt the two scenarios.
a)What is the difference btw “bring Rs X only” and “bring only his share of capital” in terms of accounting?
B) what is the answer and what is the reason behind it? Please elaborate.

In what cases do we raise(or don’t) goodwill in old profit sharing ratio, raise it in new profit sharing ratio or both ?

i recently registered for my PCC in Chennai. few day back i came to know that there are two volumes for AUDITING AND ASSURANCE, but i received only one - the first one. So, i would like to know what i can do to get my other book. i am clue less. Could any of you atleast get me the e mail id of the person concerned with pcc, just like it is cpt_exam@icai.org.