Ajay Mishra's Expert Profile

Queries Replied : 19473

About me

I am Company Secretary and Compliance Officer of Company doing business in Media Sector and FM Radio. I am dealing with all works relating to Secretarial and work relating to Ministry of Information and Broadcasting (MIB).

Gurpurb Dee Lakh Lakh Wadai !!

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ARTICLES:

1. Procedure for Appointment of Cost Auditors

2. Procedure for Issue of FCEBs

3. Short Note on Issue of FCEBs

4. Note on Foreign Direct Investment (FDI)

5. Procedure for Conversion of Name from Private to Public (Status Change)

6. Disqualifications of Director under Section 274(1)(g)

7. Foreign Exchange Manage Act, 1999_ Basic Understanding

FILES:

1. Articles on Issue of FCEBs

2. Procedure for Change of Name (Status Change)

3. Resolution Passed By Circulation

4. Budget 2012-13

5. Issue of Bonus Shares

6. Procedure for Conducting Statutory Meeting

7. Procedure for insertion of new object clause

8. Procedure for Increase in Number of Directors

9. Public Deposit

10. Yoga Guideline

What kinds of questions I can and can't answer?

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Award & Honors:

RASHMIKANT says : SERVICE TAX ON LABOUR INCOME RECIEVED
DEAR SIR, I HAVE PRIVATE LIMITED COMPANY WHO IS RECEIVING LABOUR INCOME FROM A JEWELLERY SHOWROOM WHO IS ALSO A PRIVATE LIMITED COMPANY AFTER TDS BEING DEDUCTED FROM THE ABOVE. WHETHER I AS A PRIVATE LIMITED COMPANY LIABLE TO PAY SERVICE TAX ON THE LABOUR INCOME RECEIVED AFTER IMPLEMENTATION OF NAGATIVE LIST IN SERVICE TAX ........ PLEASE REPLY AS EARLY AS POSSIBLE.....

Gauri CS, LL.B says : Susbscribed capital of Indian subsidiary
If a Foreign holding Company (i.e. 'X') subscribes for Rs. 8,00,000 shares for a newly Private Ltd. Company to be incorporated and now Company is formed say on 3rd April, 2012. X brings only Rs. 2,00,000 on 30th April, 2012. In board meeting conducted on 1st May, 2012 Boar confirms allotment of shares for Rs. 2,00,000 to 'X'. for filing FC-GPR. What will be shown in balance sheet on the closing of financial year for Income tax and Companies act purpose. Subscribed capital and paid up capital. What are the consequences and auditor's remark if entire subscribed capital is not brought before closing of the financial year. In MOA we write minimum paid up capital will be Rs. 1,00,000. Even in Annual return can we show it as Authorised 15,00,000, subscribed 8,00,000 and paid up capital 2,00,000? How it is to be shown for income tax as balance sheet will be dated 31st March, 2013. Nw what will be the decision of the Indian subsidiary co. as per companies act to close financial year on 31st March, 2013 or some other date.

CA Sudha S Keswani says :
sir, whether professionals have to show porfit more that 8% if they do not want to go for tax audit?

ghaus says :
hello

Deepak says : NGO queries
Sir, I have some queries relating to NGO? 1) In case of NGO, if the donations from foreign contributions is received, how much maximum the NGO firm can utilize for their admin expenses like salaries, travel expenses, maintenance, etc.? Is there a limit , ( example,say upto 10 % or 20% only ) for overheads of NGO firm out of donations received from foreign contribution or local fund received as donation or contribution etc. 2) Suppose we receive funds locally from the promoters of NGO co, do we still require clearance from income tax for claiming exemption of local funds received as donations in NGO co Thank you