We import materials (a one off transaction for eg.)with rate of goods sttled on the basis of LME of a period subsequent to the receipt of goods, where we have to make a payment based on the invoiced being recieved by us along with the goods.

When the settlement is done subsequent to the payment, there would be normally difference to paid to the supplier or to be recovered from the supplier.

How these transactions are legally allowed to be handled

I had applied for IEC code in responce to which I got following deficiency letter:
RBI Declaration / Approval for foreing director is not given.
Please tell me from where this cna be obtained ?
Is there any prescibed form in whihc we have to apply ?
What information is required to be furnished and to which authority / Office ?
Your early response will be highly appreciated since I have to submit the same before 25th Feb,2009.
Thank You,

Gajendra Metawala
Cell No 9004034545
email ID : gajenm@rediffmail.com

Dear All
My Company is advertsing Company , we are providing services . No of Employee is 18 ,
I want to know is labour ACt Is applicable ?

Under scratch & win scheme,
We are distributing scratch cards to pasengers of flight. Passenger can get the wining gift after paying Rs 500 irrespective of value of gift,value of gift may more than Rs 500 or less than Rs 500 (for example passenger can win bag, wrist watch camera or hero honda bike)

We are a trading company & have all products in our stock for normal trading except Hero Honda bike

Now query is:
1.Whether we have to deposit TDS U/s 194 B for gifting Hero Honda bike

2. whether we have to deposit TDS on products which cost more than Rs 5000

Please reply

Is it compulsory minimum salary of Rs3500 in the case of public ltd. company for every employee.

wheather TDS should be deducted on co-op-society( regd) if i m paying Rent above 120000/- p.a.

Dear Friend,

I want some material / presentation / note / link, etc on FIFO method valuation of raw material (& other inventories) v/s Weighted Average method of raw material (& other inventories)

I will require its comparision, benefit, disadvantages of each other, etc...

Please mail me at: deepak.agrawal2008@yahoo.co.uk or reply me thru private message in CAclubindia.com

if advance salary is given to one employee and afterwards that employee is appointed as director of the company then whether such advance given earlier is covered as deemed dividend u/s 2(22)(e)?

Dear Sir,

Can you tell me that in Balance Sheet where we can put the Software Development in Assets, I t would be in Fixed Assets of in Current Assets.Please let me know as soon as possible.

Thanks

Rajesh Shukla

In case of a company, company director paid advertisement charges Rs.30,000/- through his credit/debit card.

now,company will re-imbrsed advertisement charges to director paid by through his card

then,

a)Co. can reimbursed full amount of
Rs.30,000/- ???? or
b)Co.can re-imbursed,after deduction of
TDS ?????

In case of TDS will deductable,

then

a)co.will liable to remiting this amount ?/
b)collecting from party ??/
c)debiting to director imprest
account ????