Nikhil Kaushik's Expert Profile

Queries Replied : 24294

I handle tax compliance, litigation and advisory services. I am reachable at canikhilkaushik @ gmail.com

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SONALI says :
A COMPANY IS REGISTERED IN INDIA AND IS TAKING ONLINE SERVICES FROM AN INDIVIDUAL LIVING IN USA. FURTHER NEITHER THE COMPANY HAS PERMANENT ESTABLISHMENT IN USA NOR THE INDIVIDUAL HAS ANY PERMANENT ESTABLISHMENT IN INDIA. HOW THE PAYMENT WILL BE MADE FOR SUCH SERVICES. PLEASE GIVE YOUR OPINIONS

PRAKASH DAGA says : QUERY
I want to know that in case of LLP, is it mandadory to file E-Form-8 for ANNUAL or INTERIM or both, as the case may be? I read on MCA site that it is not mandatory to file E-form-8 for creation, modification and satisfaction of the charge. Kindly solve this Query. (REF: www.mca.gov.in/MinistryV2/llp_eFiling_faq.html) Kindly check FAQ-25

ramkumar raja says : bank acc status of pvt to public converted company
Respected Sir, When a company is converted from pvt ltd to a public ltd company what happens to its bank account status??? How soon the change must be intimated to the concerned bank??? Can a company after conversion to a public limited still continue to hold a bank account in the old name of the pvt ltd company??? If they have such account for a long time and continue to transact business in that account for years together is it illegal? if so what action can be taken against them??? Thank you

Jhankhana M. Thakkar says : Urgent query on NRI
http://www.caclubindia.com/experts/urgent-query-on-nri-2149914.asp

Subrat Kumar Patra says : Convertible debt for an nri director
Hi, We are a startup and just got incorporated (17th Jul'15). Me and my wife are the directors in the new company with a 1L capital. The company will provide online gaming solutions to enhance skills of individuals (primarily children) through a subscription based revenue model. In order to start the operations we would need funds and hence will be appointing a 3rd Director (NRI friend) into the company. Once inducted we would look at a Loan from him which will be a convertible debt. An agreement will be executed highlighting the terms and conditions of the loan conversion to equity. The important one's being the following: 1. Interest rate of 9% 2. Tenure of 2 yrs 3. Conversion to happen when 2nd investor is wiling to invest 4. Valuation to be mutually agreed upon between Company & 2nd investor 5. Conversion to Equity @ Discount of 20% Loan amount to come from his NRE/O account. He is also ok to transfer the balance fund directly to the company's account. The whole amount will come over a period of 3-6 months. Pls suggest the most appropriate way of executing the whole transaction and the compliances involved. Regards Subrat