CMA Ramesh Krishnan's Expert Profile

Queries Replied : 26053

About me

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

Award Winner as " Most effective Expert in Caclubindia-2011" My working style always like,

Take life always as challenge,Think positive,

Give involvement on taken task,Donot divert your concentration from the taken task,

Always target your goals and commitment,Your future always better. Jai hind. Thank you for visiting my profile

To reach me : cma.rameshkrishnan @ gmail.com or send PM for queries & professional help

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avinash says : TDS applicability
Dear Sir, I am Avinash.I kindly request you to guide me on a query relating to TDS. My query is with respect to deduction of TDS on sponsorship payment by Indian Company. Although it is very clear that sponsorship payments made to residents will attract TDS provisions under 194C of the Income Tax Act, I am unable to conclude if TDS u/s 195 will apply to payment of sponsorship made to non resident. The Indian company will be making payment towards sponsorship to a UK company for an event which will be held in africa. Please guide me if sec 195 will apply to the payment and if DTAA will also affect such payments. Thanking you in advance. Regards Avinash (avinash.161@gmail.com)

krishnatejaabburi says : highnsea sale
sir could u help me regarding the following issue its urgent pls.suggest me. 1.what date is to be booked as purchase in the books of seller in case of high sea sale.?whether it is on the date of agreement on the stamp paper or on the date of ware house bill of entry if it is issued in the name of high sea sale seller? 2.whether purchase is to be booked for exporters invoice value in dollars or for the sale amount made to high sea sale buyer(ie buyer of high sea sale)in indian rupees?

mukesh agarwal says :
Sir please solve my problem.i have a registered firm in which i have sold spices like small cardamom n jeera in pucca, but these goods are purchased from a vendor i dont even know without any purchase bill,i have paid vat on sale bill of 2500000 @ 4%.now what should i do now with the purchase figure...i dont have any document supportint the purchases....

CA.Kaoshlandra Pandey says : Income Tax
For Financial Year 2009 -10, Assessment year 2010-11. Assessee Mrs.X filed Return on 14/04/2011. belatedly u/s 139 (4) of IT Act.1961. (Now We know this can not be revised). Showing Income from profession Rs.189500/- taxable and agriculture income Rs.500000/- Not Taxable Total Income Rs.189500/- No tax is/was payable on that. Cash balance shown Rs.495000/- (by mistake) Now We know this can not be revised. On 27/09/2011 a notice u/s 143(2) was issued asking for explanation regarding agriculture income and cash balance. I have attained A.O. on 18/10/2011 and discussed and filed oral explanation and AO has given me next date of 25/12/2011. on the same day I also filed an application for transfer the application from one city to another since assesses has got married and it was not practically possible to join the A.O. I have sent all the explanation required by A.O. during our first discussion through registered post. I discussed with assesse in this regards and she was like she has no agriculture income and cash and the same is done by mistake of her tax consultant. I instantly revised the return in spite of knowing fact the return was belated and can not be revised; I revised electronically. On 27/08/12 Assessee received another notice from new A.O. (AO of New city)u/s 142(1). asking all the information which i have already submitted to earlier AO through Registered post. I attained the same as per date given by A.O. and submitted all the details required by him and also shown/given in written the fact of mistake of Tax consultant about agriculture income and cash balance. As per Law the assessment of AY 2010-11, can be completed till 31.12.2012 (i.e. within 21 months from the AY in which the income first assessed.) The AO has served Assessment order u/s 143 (3) on 15/02/2013. As under Income from business Rs.189500/- undisclosed inc. Rs. 500000/- Tax + Interest= Rs.160000/- NOW I BELIEVE THIS THE A CASE OF TIME BARRING ASSESSMENT AND INVALID SINCE THE LAST DATE OF ASSESSMENT COMPLETION WILL BE 31/12/2012.(BEING 21 MONTHS FROM THE END OF AY 2010-11) KINDLY PROVIDE YOUR VIEW ON MY HOLD???????? This is the new and important case for me kindly help me ASAP... YOU MAY ALSO WRITE TO ME AT ca.k.pandey@gmail.com Regards CA. Kaoshlandra Pandey 9699641097 Read more at: http://www.caclubindia.com/experts/ask_query.asp

arbind jha says : service tax
our company is providing some service for which they have already registered under service tax. Now due to reverse charge on director remuneration will company to apply for addition of service in ST2.