can a independent director acquire shares of a company in which he is a director?

what are the concerned provisions in this regard in companies ac 1956 and companies bill 2012

A person was claiming deduction U/s 80DD of Rs.1 Lac in his return for medical treatment of his son with sever disability till A.Y.13-14, but his son is passed away by 15th August 2013, can he claim proportionate deduction U/s 80DD for A.Y.2014-15?
Plz Suggest.

Sir We are mfg. and Make a Sale by way of Stock Transfer from West Bengal to Orissa
CAn I availed Input tax creditif not How can we calculate TAx on the same

Respected Sir
I want to go for industrial training in my final year of articleship and for that institute's consent is necessary,then how much time before should i take such consent and what will be the contents of consent to be obtained from institute? Shall i have to mention the company's name in the letter and what else??

i have sent a letter for transfer of artclship in 2nd year to the institute 1.5months back. but dint gt any respond . whn i cntct my region wirc they told me i havnt submitted the document proof of my hometown. i submitted the same to them. now they r sayng from past 2 weeks they r forwarding my ltr to the noida office. till now they hvnt forwrded the same to them. i just wanna ask can i sent my principal noc ltr and other documents directly to the noida head office. as i want transfer as early as possible or should i wait for wirc to do the same.

Sir,
Ser Tax to be paid, 25% by provider of service and 75% by receiver. Notif 30 0f 2012. How to fill the st3.
Is the value of service to be made 25%?
or Ser Tax rate reduced to 25%?
If service provider is providing service charging 100% s TAX AND ALSO 25% service tax, how coloumn A10 is to be filled.68(2) reverse charge.
please advice

I am presenting the F.S. of ABC Pvt. Ltd. under R.S. VI format it has the Following Data
Advance Tax (A.Y. 13-14) = 23,00,000
TDS(A.Y. 13-14)= 15,00,000(As per 26AS)
Provision for Tax = 28,00,000
How the presentation should be made as per R.S. VI is concern ?????????

Hi Experts,

Can anyone throw a pertinent view on the below statement given by a consultant who is claiming sometime derivative transaction can also be treated as capital gains/losses. below is what he says;

"Generally, gains / losses arising on derivative transactions are considered under the head ‘Income from Business and Profession’. Certain tests like scale of activity i.e., number of transactions, intention, objects clause, etc. would also help in determining the head under which such income is assessable.

However, based on certain judicial precedents, a view could be taken that where the derivative transaction is undertaken by an assessee to hedge the risk (against some investments), then, gains / losses made on the derivative transaction could be assessed as ‘Capital Gains’ on the premise that gain / loss on sale of investments is also assessed as ‘Capital Gains’.”


But I believe hedging it self proves such transactions are speculative in nature!! How much realistic is this?

Hi, An XYZ Pvt Ltd has 3 directors. The company is selling 30% of their shares to another person Mr.ABC with equal share from each director(10% each). Share value is identified and agreed on both the sides. The understanding between the company and the intended new director is that the price identified is for buying stake in the company and any further investments will be shared among the directors (all 4 of them) according to their stake ratio. Now, once Mr.ABC pays the agreed price for stake in the company and all legal procedures are followed, can the existing directors of XYZ Pvt. Ltd. can take out their respective 10% stake value received from Mr.ABC. Please let me know.

Thanks in advance. Thanks

Hi,

I am Icwai inter candidate working for Manufacturing company( writing my final exam in December 13, i got a offer in MNC for account receivable profile, kindly suggest, should I accept this offer or I should look for opportunities in costing, kindly help.