Dear professionals

Pls let me know wat is reclassification of shares?

Is there any specific definition of same provided under Act or any other law?

If we cancel unissued equity share capital and simultaneously create preference shares keeping authorised share capital unchanged. Will it amount to reclassification of shares?

Thanks & regards
CS. Deepika Bhardwaj

A company is formedin which all the directors are NRI. can such company Buy and Sell properties in India and if yes what are the restrictions and permissions applicable in such case?

Is there any Circular or case law relating to rent paid to father or spouse and claiming exemption thereon on such amount. however i could not find any provision in the act for such.

Well however sec. 80GG limits assessee or hisspouse or child to own any residential accomodation. Does this impede any implication on the above matter.

Can an employee take benefit of HRA u/s 10(13A) from more than one company in the same financial year.

If an employee get the treatment of cancer from the hospital approved by CIT at his home, and the expenditures are reimbursed by his employer. Now i want to know whether this reimbursement will be fully exempt or up to Rs 15000(as he is not hospitalised)?

whether payment of tution fees paid for distance learning to panjab technical university is eligible to deduction u/s 80C

I want to know whether alegal firm is required to deduct tax at source from the professional fee paid to the partner for the services rendered by him/her. And if so then what is the threshhold limit upto which TDS deduction is not required.

Mu another query is that whether TDS deduction is required to be made from the stipend paid by such legal firm to the CS Trainee? Is their any threshhold limit for this also beyond which TDS becomes deductible?

Regards,
Shirin

Earlier, seperate invoice numbers required from new financial year...

I want to know whether one can continue with old excise serial number of invoices inspite of new financial year

We have Head office in Mumbai & also branchase in Tamilnadu, Kerla, Karnataka etc. having different TIN no. We got one Contract in Mumbai but the work is carried out in Karnataka for which we purchased material partly from Karnataka localy & partly from Mumbai(Head Office). Sales bill is raised in mumbai. Can we get Refund of VAT paid on purchases made in Karnataka if not how we can claim the set off?

I just want to know whether seperate daliy Stock account for each Chapter Ids.