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S.Srinivasaraghavan's Expert Profile

Queries Replied : 3560

About me

I am a Chartered Accountant, Cost Accountant and a Company Secretary.

I am attached to Amalgamations group of Chennai. I am also on the Board of some of their group companies, besides being a CFO & CS of Simpson and Company Ltd..

Interested in Carnatic Music, Deep reading of Science and Spiritual books and reconciling scientific truths with spiritual experiences, Travel, Games like tennis, cards etc., Watching documentaries on Animal plannet, Discovery, National geographic etc., Internet browsing - websites of Wikipedia, Nature, Astronomy and Professional forums.

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Satheesh Nair says : MAT
We are Pvt Ltd company having Automotive gasket manufacturing units in Chennai and Uttaranchal. Uttaranchal is coming under section 80IC and MAT is applicable. We have a common Balance sheet for Chennai and Uttaranchal. Is it possible to calculate MAT and compare with the Income tax paid already paid on the common balance sheet figures, and if the MAT figure is less than the Income tax payable then we need not pay MAT ?? If the MAT figure is more than the Income tax paid figure in the common balance sheet figure, then is it correct to arrive at the MAT payable by deducting from the Income tax already paid which was tabulated including the Chennai account ? Or should we have seperate balance sheet for Chennai and Uttaranchal and income tax payable as per Chennai account to be paid and MAT figure as per Uttaranchal account need to be paid ? Then after 5 years of 100% exemption we need to avail MAT credit when Uttaranchal need to pay Income tax on the 70% profit from the 6th year onwards ? I would appreciate to have detailed reply at the earliest to my query with relevant IT act and rules / section. Auditors are having different opinions and hence we are not guided properly. So your urgent advise is very much appreciated. Some experts advise to convert our Uttaranchal unit as LLP ( limited liability Partnership) to avoid MAT !! We started commercial operations from 01-04-2008. If we register now for LLP can we get retrospective benefit ? In this case should we pay MAT for 2008-09, 2009-10 and 2010 - 11 till date ? If we need to pay MAT for the above period with interest then whether we get any relief if we convert our unit of Uttaranchal to LLP ? our initial 5 year tax exemption period is up to 31-03-2013. Please advise your valuable opinion on this LLP suggession at this stage ?

Maulik Doshi says : Wind Mill Project Report
Hello sir, I am CA final student, and my GMCS Training is going on. So, as a part of this training I have been allotted to make a project report on any topic. I had chosen to make report on WIND MILL INSTALLATION. In this behalf I required your assistance regarding all cost related to wind turbines require to incur up to the stage of its annual maintenance till 20yrs life span. Further I would prefer if you provide cost data related to Gujarat Coast. For your info. Gujarat Govt. has policy called Wind Power Policy 2007 for corporates as an incentive. Further I am in a process to contact Suzlon(Ahmedabad), if they may provide brochures etc. In short I will have to prove whether this project is viable or not. Maulik Doshi Ahmedabad.

jayant singh kalra says : tax planning
Give tips for tax planning except using deduction under sec80

jayant singh kalra says : gift tax
gift given over 50000 is disallowed but what are its concequence & how tax will be applied

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 .