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This question dates back to the year 2015.

A PVT ltd company in India has 3 directors of which 2 - Mr A & Mr B are foreigners (Mr A is Chairman of the Company) and are at one place only and 1 Mr C is staying in India. It has also appointed a full time Company Secretary Mr D.

On 25th September 2015, Company realised that Financials are to be signed and none of the foreign directors could travel to India and vice-versa.

So, what various options are available to comply with the provisions of section 134 related to signing of Financial Statements by the Company? to be specific with below questions:
the procedures to be followed to comply with section 134, 101, etc as in, in the given conditions -
1) how, where and when to schedule BM for approval of Accounts (certainly with a shorter notice)?
2) who can sign the approved financials & when?
3) how & when to schedule AGM (certainly with a shorter notice and considering Circular 11/2015)

01 June 2020 at 18:12

Purchase of furniture

hi good afternoon,
company made some purchase of furniture(under fixed asset) for the office. white filing the vat return it is being reflecting under capital goods. appreciate, if you can let me know if it is correct

01 June 2020 at 18:06

GST refund related

assesses during the period July 2017 to march 2018 purchase the goods and exported the same in april 2018 (without paying tax on export ). As assesses is liable to claim ITC Refund of Rs 400000/- (Balance in Credit ledger as on 31/03/2018) or Not ?
assesses not used credit ledger balance till date
if assesses is liable to claim refund kindly inform us on following issue
1. period to be selected to claim refund for above period and
2. procedure to claim refund for above issue

01 June 2020 at 16:36

How to calculate Gratuity

How to calculate Gratuity
My company is going reduction of Salary BY 50% of total salary . Then how to calculate Gratuity . after Reduction and on Basic salary.
My Salary Was Pre COVID 19 36,905 ( Basic 18452/-) Now after Reduction My total salary is Rs. 18452 ( Now basic salary is 9226) how to calculate Gratuity.

Please reply my question.
I am working a organization in which some time ( For June 2019 to December 2019 ) there was 11 staff ( For seven Months) Company can not obtain EPF and ESI Registration . can company face any Problem when any employee can raise issue against labor Law. Thanks.

01 June 2020 at 15:40

Return under 44AD

My cousin was filed their IT return from FY 2013-14 to 2017-18 in section 44AD. Last year FY.2018-19 return under salary ITR2. Now he again start their own shop so my question is Can he file their return again under 44AD or not ?

01 June 2020 at 15:35

Applicable for Gratuity Or Not

I am working in organization as Accounts manager in which staff is less than 10 . My completion of Job Will be accomplished in August 2020 5 Years and also My Ex Director who completed more than Five years withdrew Gratuity . can i eligible for gratuity or not. Please Reply My question.

01 June 2020 at 15:19


Dear Experts

One of my client having income from business & they have filed Income Tax return FORM 4 under COMPUTATION OF PRESUMPTIVE INCOME FROM PROFESSIONS UNDER SECTION 44AD but last FY 2018-2019 is business income as well all income is NIL.

and same was filing NIL income tax return while using ITR4 as a NIL return, but department was issuing 139(9) notice for defective return.

so please advice which form to be use if business income or other income are NIL.

Please advice 


01 June 2020 at 14:54

Vivad Se Vishwas

Dear All,

Please advice.

In Form 4 of Vivad se Vishwas there is a requirement of mandatory attachment regarding proof of withdrawal of appeal.

The appeal relates to Income Tax Appellate Tribunal and as per Vivad se Vishwas Act appeal pending before Income Tax Appellate Tribunal are deemed to be withdrawn from the date Certificate in Form 3 is received. Form 3 Certificate received from CIT on 21.05.2020.

Now the System is asking to submit Form 4 but there is no proof of withdrawal of appeal to attach.

Sub section 2 of Sec 4 of Vivad se Vishwas Act, 2020 ---upon filing of declaration any appeal pending before the Income Tax Appellate Tribunal or Commissioner (Appeals), in respect of the disputed income or disputed interest or disputed penalty or disputed fee and tax arrear shall be deemed to have been withdrawn from the date on which certificate under sub-section (1) of section 5 is issued by the designated authority.

01 June 2020 at 14:15

Gst rate

Dear Sir,
what is the GST rate on following?
Mixture of micronutrient fertilizers code 2833

GST Live Class