can we utilize share premium account for issuing of bonus share, currently if company do not have equity share premium but have issued convertible preference at a premium (fully paid)
my query is
1. can security premium of pref shares can be used for issue of bonus
2. whether pref.shares need to be converted into equity share before issue of bonus share?
3. is bonus shares are required to be issued when in future year the pref shares are converted into equity
4.Are there any guidelines for issue of bonus share by pvt.co.?

GOOD MORNING SIR\MADAM
CAN YOU SOLVE MY PROBLEM IN SERVICE TAX MATTER. OUR NEWLY COMPANY SITUATED IN UTTARAKHAND. WE HAVE NO REGISTRATION OF SERVICE TAX . THEN WE RECEIVED A GRN. AMOUNT IS 25 THOUSAND. THEN AS PER REVERSE CHARGES SERVICE TAX ON GTA WILL BE DEPOSITED BY SERVICE RECEIVER. BUT I HAVE NO SERVICE TAX NO. YET.THEN CAN I WILL MAKE ENTRY IN MY BOOKS WITHOUT ADD SERVICE TAX IN GRN.
OR AT THE TIME OF MAKING ENTRY BOOKS I WILL ADD SERVICE TAX ON GRN AND WHEN I WILL RECEIVE ST2 FROM SERVICE TAX DEPARTMENT THEN I WILL DEPOSIT IT WITH INTEREST @18%.
PLEASE ADVISE

Dear CA Clubindia

wat are d consequences of non deduction of TDS, wen is interest @ 1.5 & 1 % is
applicable, when penalty applicable

1. TDS Deducted on 6.4.2010
deposited on 4.8.2010
interst rate 1.5 or 1%, any penalty.

2.f.Y. 2011-12 TDS on Prof. Fees 35000/- not deducted, not paid, what is intrst rate 1.5 or 1 %, What is the penalty

thnx

Hi,

During the financial year 2012-13, there is a difference of Rs. 3400 between the TDS deducted and TDS deposited, where TDS deposited being short of this amount. Could you please tell me how this issue can be handled.

Also, it would be great if you could tell me regarding the penalties for the late deposition of TDS amount.

Thanks,
Mubashir
A novice in these topics

whether custom duty is applicable on import of branded & non branded goods?

If total tax liability is less than Rs.10000 then 234C is applicable or not?

If a person fails to pay advance tax - then

How to calculate the interest amount U/S 234C for FY 2013-14?


How to calculate the interest amount U/S 234B for FY 2013-14?

Hi
My client is planning to start a business of importing metals and selling the same in the local market in India

Kindly suggest the entire procedure that has to be followed
Which all linences are supposed to be applied for eg VAT, Excise and Ghumasta etc

Also if he intends to re export it after some manufacturing then wat is the procedure

Thanks

Dear sir/mam, i am CA final student. It seems that in todays market just CA is not enough! I don't hate studies but also not too much in love with it. I have completed bcom with 2nd div. Interested in audit, tax, corporate laws. Should i take one more course if yes then which m.com or cs?

Hi,

As there is provision to amend TDS challan by Bank or Assessing officer within a said period.I want to know TDS challan of amount 50k is deposited u/s 194C out of which 30k belongs to 194J but wrongly deposited with challan. So it is possible to bifurcate that challan by Assessing offier/Bank under respective heads.

does icai gives grace marks if the total is 5-10 marks short of passing requirements in ca final