S.Srinivasaraghavan's Expert Profile

Queries Replied : 3560

About me

I am a Chartered Accountant, Cost Accountant and a Company Secretary.

I am attached to Amalgamations group of Chennai. I am also on the Board of some of their group companies, besides being a CFO & CS of Simpson and Company Ltd..

Interested in Carnatic Music, Deep reading of Science and Spiritual books and reconciling scientific truths with spiritual experiences, Travel, Games like tennis, cards etc., Watching documentaries on Animal plannet, Discovery, National geographic etc., Internet browsing - websites of Wikipedia, Nature, Astronomy and Professional forums.

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Nipun Jain says : Definition of Turnover-Whether to include purchase
Dear Mr.Raghavan, Bombay Bench of ITAT in the case of Vijay N. Maheshwari (505/BOM/91), on some facts, has held that if purchase exceed 40 lakhs, 44AB will apply. Are you aware of any contrary decision on this issue? Regards Nipun Jain nipun.j@indiabulls.com

DEEPAK KOHLI says : Boadr Meeting
If Sign authority on Form 23ACA & AC shows 30th sept, 2007 and AGM date is 29th Sept, 2007 than what will be the date of Board meeting.If their is another Board Meeting on 14th sept, 2007 than in which Date of Meeting Adoption of Balance Sheet and Other Reports will be taken.......................

DEEPAK KOHLI says : Board Meeting
If Company pass a resolution and conven a EGM for Change of name of Company in july and same in August. if after that company also file Form 1A for Chnage of name. But due to certain reasons company not able to change the name and not file Form 23 for it. But pass the all resolution in the Board Meeting. Than it is necessary to record all the resolution 2 time in the Board meeting........

S.Srinivasaraghavan says : Tax Audit
Dear Mr. Santosh, If the billing is Rs 45 lakhs and the claim stangs at that figure, you have to submit yourself for tax audit.

santosh says : Whether audit is required
One of my client is contractor, his previous year Gross Billing was Rs. 45 Lacs but actual cash receipt is below Rs.40 lacs . TDS was also deducted on Rs. 45 Lacs.Whether return can be filed on cash basis as the balance receivable amount is disputed, may be received or may not be or audit is required. and if audit is required what is the remedy for disputed amount. please reply with accounting standard.