Indemnity Letter, Urgent
This query is : Resolved
02 March 2009
hello everyone,
our company is a pvt. ltd. JV co. and a subsidiary of one foreign co. our BOD comprises 4 directors from foreign co and 3 from Indian co.
our pvt. co. has purchased some machinery in 2004 from this foreign holding co. hence the matter comes under Transfer pricing issue for which co. is liable to file return under Income tax Act but the co. did not file any return hence lots of penalties applicable from 2004 as pvt. co. incorporated in 2004.
now Foreigner Director saying to close this matter by paying all penalties bcoz there is no records of purchased machinerirs exists. so pls provide me a Indemnity Letter to be sent to those Foreign Director for Concluding this matter.
Pls its urgent.
our company is a pvt. ltd. JV co. and a subsidiary of one foreign co. our BOD comprises 4 directors from foreign co and 3 from Indian co.
our pvt. co. has purchased some machinery in 2004 from this foreign holding co. hence the matter comes under Transfer pricing issue for which co. is liable to file return under Income tax Act but the co. did not file any return hence lots of penalties applicable from 2004 as pvt. co. incorporated in 2004.
now Foreigner Director saying to close this matter by paying all penalties bcoz there is no records of purchased machinerirs exists. so pls provide me a Indemnity Letter to be sent to those Foreign Director for Concluding this matter.
Pls its urgent.
02 March 2009
Madam,if you are in need of a format of Indemnity Bond pl visit www.vakilno1.com. Get the format from there and suitably modify according to your requirement.
02 March 2009
sir but there is no such kind of letter available which fulfill my requirement.
02 March 2009
As you know, only a model will be available in website and in books of conveyancing. So you have to redraft one from the model according to your needs.
02 March 2009
To LIVE AND LET LIVE, please contact an Advocate
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR validation error - Balance sheet is not filled
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Building and other construction workers welfare cess act 1996
- Article ship defecit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
