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CA Nitin Wadhwani's Expert Profile

Queries Replied : 1213

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About me

Hi Friends..

I m working with Deloitte Haskins & Sells as an Assistant Manager in International Tax.

I cleared my CA-Final examination in May 2012 scoring 70.125% and securing All India Rank (AIR) 12. I cleared my Professional Competence Examination (PCE) in November 2009 scoring 73.50% and securing All-India Rank (AIR) 3 & 1st in WIRC. I cleared my Common Proficiency Test (CPT) in November 2007 scoring 80.50% & securing 20th Rank in India.

I have done my Industrial Training from Credit Agricole - Corporate and Investment Bank as a Credit Analyst.

I have done my Articleship from CA. Vinod Dhankani & Co. working and handling  Audits, Returns and other compliances in areas of Indirect Tax, Direct Tax, Bank Audits & Company Law (ROC).

    What kinds of questions I can and can't answer?
    Questions On MVAT, Service Tax, Income Tax, Fringe Benefit Tax, TDS, Company Law Matters, Accounting Works, Stock Market And Tax Audit U/s Sec.44AB.

    My area of expertise
    Accountancy, Income Tax, MVAT And Service Tax.

    My experience in the area (years):
    5 years

    Organizations I belong to:
    CA Vinod Dhankani & Co. Credit Agricole Corporate & Investment Bank

    Publications or writing which has appeared :
    Student's Newsletter Of ICAI.

    Educational credentials:
    20th Rank in India in Common Proficiency Test(CPT). 3rd Rank in India in Professional Competence Examination. 12th Rank in India in CA-Final

    Award & Honors:
    Awarded The Best Advisor On Direct & Indirect Tax Matters For 2 Times in a Row.

  • pramod says :
    DEAR SIR, I HAVE A INTERESTING CASE HERE, 1. I AM TRYING TO GET LOAN AGAINST PROPERTY, 2. THEY ARE GIVING ME LOAN TOP OFF , AS THEY HAVE ALREADY GIVING HOME LOAN AGAINST THE SAME PROPERTY AND HOME LOAN IS GOING ON, EARLIER. 3. I WISH TO INVEST THIS LOAN AMOUNT SAY 10 LACS TO MY COMPANY, THEY CAN GIVE US CHEQUE IN THE NAME OF COMPANY AS BEING PROPRIETY FIRM, I WISH TO ENQUIRE, CAN I CLAIM ANNUAL INTEREST OF LOAN AS COMPANY EXPENSES WHEN, I WILL USE THIS MONEY FOR COMPANY EXPENSES AND BANK CAN ALSO DEDUCT THEIR PRINCIPALS A S PER THERE CALCULATION, AS IT WILL HAVE A FIXED TENURE TERM LOAN. 4. SECOND CASE – IF I FURTHER PURCHASE AN INDUSTRIAL PLOT WITH THIS MONEY, IN SUCH CASE, CAN I CLAIM ANNUAL INTEREST AS COMPANY EXPENSES WHEN, I WILL USE THIS MONEY FOR COMPANY EXPENSES. 5. THIRD, SINCE HOME LOAN IS ALSO GOING ON, IN SUCH CASE, I WAS TOLD BY MY CA THAT EITHER YOU CAN CLAIM INTEREST EXEMPTION OF HOME LOAN OR YOU CAN GET INTEREST EXPENSES IN COMPANY EXPENSES, CAN I CLAIM BOTH, INTEREST EXEMPTION AGAINST HOME LOAN UNDER IT RULE OF HOME FINANCE AND FURTHER AMOUNT OF LOAN INTEREST THAT IS ISSUED TO ME IN COMPANY NAME, I CAN SHOW ITS INTEREST EXPENSES AS COMPANY EXPENSES, PLEASE ADVISE. PRAMOD

  • amit gupta says : nbfc
    can NBFC take loan from an individual? and please let me know the circular no. or any provision? thanks in advance.

  • shreyans jain says : Digital Signature
    Sir,I am Shreyans Jain.Sir i need your help in growing my new work as Registration Authority for digital signatures. pls Visit and recommend my website www.digitalsignaturewala.com,u can buy online within 15 minutes you can also get the certificate.Thanking you .

  • kasturi says : company 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

  • TR Nagaraja says : income tax
    sir One of my freind running frachies of line share trading in sharekhan. Every month he is getting brokrage around 50,000/-. He want to open another frachines in partnership firm with his friend. But share khan will not give franchies on partneship firm name, because one of the partner is alredy took frachies. But my freind and his friend already capital invested around 5,00,000/-equaly. My question if we took frachies in his freind name, hw do we make payment to my freind? what is the aggrement to create? hw to we pass enty in that. Tds are issued on his freind name how to we claim that?


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