CAclubindia

Queries Replied : 2080

My contact no is 9945842240 and my mail ids are bsrbng69 @ gmail.com and sahanaseena @ gmail.com my address is

B.Srinivasulu & co., Chartered Accountants, No.47, RAR MANISON, 1ST MAIN ROAD, ROAYAN CIRCLE, CHAMARAMAJPET, BANGALORE - 560019.

Preferable time for contact Mon to Sat 8.00PM to 9 PM for clarifications

I am a practicing chartered accountant with 25 years of post qualification experience.

My specialisation is :

Internal Audit of Companies, Statutory Audit of Companies

Audit Bureau of Circulation audit (ABC audit), C&AG audit

Tax Audits, Section 195 Certification, Tranfer Pricing,

Service Tax, Central Excise, Customs,

FEMA, import export formalities, DGFT Licences

KVAT, Karnataka Labour Laws,Karnataka entry tax and Karnataka Luxury tax.om

Karnataka Profession Tax Act, and Karnataka Shop and Establishment Act.

Provident Fund and Employees State Insurance & Payment of Bonus compliances

Preparation of Project reports and CMA data.

Valuation of shares for transfer from NRI to indian and vice versa

I have passion over teaching and

have completed 30 years of service in teaching field and

presently taking classes for CA, ICWA, ACS

in Sri Vidyaganapathi instiute of Caliber Development in Bangalore..

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

SIVA KUMAR says : Educational Society
Sir, An Educational Society (Upto 10th class and no govt. aid) getting receipts lessthan 1 Crore. Will it get exemption u/s 10(23C)(iiiad). Is it compulsory to register u/s 12AA on Income Tax Act for Sec 10(23C)(iiiad) exemption? Which ITR should be filed and is Audit and Tax Audit mandatory? Sir, please give reply. Regards Siva Kumar

CA SHUBHAM says : interest on unsecured loan
hello sir , i want to know that kya unsecured loans par Interest charge karna Mandatory hai, & if yes then what will be the minimum and maximum rate upto which ynterest can be charged. Also explain whether tds will be deducted if interest is charged on unsecured loan. ? Thanks In Advance.... Read more at: http://www.caclubindia.com/experts/experts_profile.asp?member_id=149668

sarah says : Hello my dear
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pramod says : loan as expense
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

CS Amit Kumar says : NBFC Related Query
Dear Sir, Please help me in following Query for NBS 7 1. Part 4 - On Balance Sheet Item: Amount dedutecd in Part 1 is typed amount or should be proportionate. and Part 4 says only about Current Assets and fixed Asset , hence long terms loan is in other assets. Regards, AMit Arora