CAclubindia

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sanath says : FBT and employee
Sir you have said "ANY EXPENDITURE TAXED AS FBT WILL NOT BE TAXABLE IN THE HANDS OF EMPLOYEE AGAIN" Is there any circular to that effect or something?

Rajesh says : Guarantor of Credit society at Maharashtra.
Respected sir, My father had become one of the three Guarantors of a personal loan taken by one of his friend from Samaj Kalyan Sahakari Patpedhi. Now he is not paying the loan & we know that he won’t be able to pay the same. The other Guarantors are also not going to pay the loan. However Patpedhi has served a notice to BEST & the bank (where my fathers salary comes) to stop the salary. Now the bank is not giving the salary, they told us to get the dues cleared from the patpedhi for the same. Now I would like to know what are the actions we can take in this situation. 1. Is it my father’s liability to pay the complete loan? 2. What is the measure to counter this situation? Regards, Rajesh

Nitesh Kumar says : Huf
SIr, Here is a case of HUF please give me the suggetions regarding this:- Mr.x forms a HUF with his wife and his two sons Mr.Y and Mr.z. After the marriage of his sons,his sons also make their own HUF with their wives and childrens and become the karta of their huf. Now Mr.X dies. Q1. Can Mr.X and Mr. Y will remain in his father's HUF after creation of their HUF. Q2.If Yes,Who will be the karta of the HUF created by Mr.X. Sir, Please send a copy of your answer to my email id.jainitesh89@gmail.com Thanks Nitesh Kumar CA-PCC

n sridharan says : compounding of offence under section 621A
if an offence is committed after filing the application under Sec 621A of the companies but within the period of three years ,whether compounding application can be filed for offence which is committed within period of three years

Goldie says : IT
Mr. Rao, My brother lives in USA. He has investments made here in Delhi from his NRE bank accounts in several mutual funds, FMP's etc. He has a Pan# and has filed taxes before. In a nutshell his taxes are filed only based on his investements here. He has no salary income from India so he gets forms 16A's, TDS certs, LT/ST Capaital Gain statements etc besides div/interest from his savings, takes them to a CA and within a few hrs his taxes are done. They are quite simple as far as I a concerned. My brother is now looking for a CA (a reasonable person and not high flying & expensive CA!!) and a long term relationship who is well versed in NRI's laws and help him file his taxes. If you have any experience in NRI tax filing, can I have your contact details so he can contact you direclty? Pls. reply at your earliest. Thanks. Goldie