Bhaskaran Chackrapani Warrier's Expert Profile

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Graduate of Kerala University.

Fellow member of ICAI.

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C.A. LINESH PATIL says :
i have several query regarding excise:- 1).who is liable to pay excise duty if goods is manufactured by job worker.in the following cases:- a)when there is principal to principal relationship AND b)when there is principal to agent relationship. 2)what is meant by principal to principal & principal to agent relationship. 3)when packing,repacking, labeling,& relabeling amounts to deemed manufacture please reply my queries as soon as possible and dont copy paste section wordings. i want explanation in simple and own word. Thanks in advance

kasturi says : corporate law
Sir, Im in chaos on scedule xiii of the companies act.our company(closely held public company) has appointed managing director for 5 years in 2005 with a remuneration of Rs.40000/-p.m by members by special resolution without the approval of remuneration committee as most of the independent director were resigned and there was nno remuneration committee.However there is no such law which state that appointment must be approved by remuneration committee except schedule xiii. During 2008-09 there was inadequate profit and salary paid was within the limit i.t Rs.400000/- to managing directors. Now auditors have laid down their remarks that the salary paid was excess of schedule xiii of the companies act.When we sought clarification and raised question that salray is within limit of schedule xiii.But their reply is that we have not followed conditions laid down in schedule xiii as remuneration committee not recommended appointment of managing diectors in 2005 and company has made default in payment of debts in the year 2008-09.Hence salary paid is in excess of schedule xiiI it is auditors remarks. Now the question is whether fixation of remuneration at the time of appointment of managing director should be only for the period of three years? what if managing directors have been appointed by shareholders in 2007 when there is a profit and in the year 2010 there is inadquacy of profit whether salary of rs.400000/- paid to shareholders is deemed to be in excess of limits laid down in schedule xiii only by the reason that remuneration committee has not recommended the appointment of MD in 2007 only shareholders have appointed the MDS? company will appoint as usual with the approval of shareholders when there is a profit and how far it is justice that remuneration committee has not recommended the apointment of MDS hence salary is in excess of schedule xiii enenthough it is in limit? Does it mean that it is compulsory to appoint MD with the recommendation of remuneration comm>ittee even in casse of profit? Pls help in this matter urgently

Kapil B Shukal says : Hi
Dear Sir, want to be your friend. Regards Kapil Shukal.

Rajesh says : Service Tax and TDS Urgent Sir!!!
Dear Experts, Technical Fees paid to director of a company who is foreign national. Also service tax has been deducted. My doubts are 1) While calculating the Technical Fees should we also add the Service Tax paid? 2) If yes while calculating TDS we should also include Service tax. (i.e. TDS has to be deducted inclusive of the Service Tax bill) 3) There is DTAA with the country, therefore normal provisions or DTAA whichever is lower has to be applied? 4) We are filing the Director's Return in India too...so while calculating Income from Business of that Director should i have to take the amount inclusive of the Service Tax or Net of Service Tax. Thanks for all the experts who guide me in this issue. It is highly appreciated. PLEASE PROVIDE ME WITH THE RELEVANT SECTIONS WHEREVER APPLICABLE. With Regards, Rajesh.

harsh batra says : articleship
dear sir, iam new to ths club. iam an ipcc student.i want to ask that should i go for articleship in big4 or not even if i have got selected