CAclubindia

Queries Replied : 23930

In case you are looking for tax compliance or advisory services, you can reach me at canikhilkaushik @ gmail.com

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Jhankhana M. Thakkar says : Urgent query on NRI
http://www.caclubindia.com/experts/urgent-query-on-nri-2149914.asp

Subrat Kumar Patra says : Convertible debt for an nri director
Hi, We are a startup and just got incorporated (17th Jul'15). Me and my wife are the directors in the new company with a 1L capital. The company will provide online gaming solutions to enhance skills of individuals (primarily children) through a subscription based revenue model. In order to start the operations we would need funds and hence will be appointing a 3rd Director (NRI friend) into the company. Once inducted we would look at a Loan from him which will be a convertible debt. An agreement will be executed highlighting the terms and conditions of the loan conversion to equity. The important one's being the following: 1. Interest rate of 9% 2. Tenure of 2 yrs 3. Conversion to happen when 2nd investor is wiling to invest 4. Valuation to be mutually agreed upon between Company & 2nd investor 5. Conversion to Equity @ Discount of 20% Loan amount to come from his NRE/O account. He is also ok to transfer the balance fund directly to the company's account. The whole amount will come over a period of 3-6 months. Pls suggest the most appropriate way of executing the whole transaction and the compliances involved. Regards Subrat

Manish says : Some help is required
Sir,please try solve my query at following below link http://www.caclubindia.com/forum/doubt-332903.asp

RASHMI N says : TDS
IS THERE TURNOVER LIMIT TO APPLY TDS. WHAT IS THE RATE OF TDS FOR BS TRANSACTIONS

sirisha goud says : financial management
hi sir actually in financial management iin cost of capital question i have done 2 mistakes 1)i have deducted reserves and surplus from the fund to be raised and then i had divided it in the ratio of share and debentures 2)i have taken dividend payout ratio has current year dividen and given a note for it my question is will they cancel the whole answer becoz first point itself was wrong or they deduct marks for the 2 steps and allot marks for the other part of answer