CAclubindia

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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Anantharaj says : CS or CWA???
I have completed my graduation under commerce, after that i took PE-II CA exams where i appeared twice but i coudlnt clear. i was not in a position to continue due to personal reasons. But now i realising & willing to do any of the professional course, but not CA coz, after inter student need to take articleship which is mandatory. So, kindly suggest me the professional courses which i need to built in my career.

sunil mapara says : section 195 (6) of the i.t.act
Hello Sir, I would like to know applicability of section 195 (6) of the I.t. Act for remittance to a foreign company for import of raw material from them. Whether form 15CA & 15 CB is mandatory.

Kalyani says : Urgent- unsecured loan
1.Partnership Firm has taken the unsecured loans from relative and after 4 years partnership firm has been Converted in to Limited Company and the company has shown the loans taken from the Individual same as per the Partnership Firm .The individual children and spouse are shareholder of the company.As per the Companies Act ,the company can not take the loan from the Individual/relative in this case loans taken by the partnership firm from Individual has been Converted in to limited Company the status of the loans will be the same or changed as per Sec 58A and Sec 58AA. 2. Is all directors consent required to remove this unsecured loan from private company or the major shareholder is the decision maker. 3. Can unsecured Loan be kept in the business throughout the running of business without removing it? 4. The treatment of writing off unsecured loan without increasing the capital.And totally removing it from the books of accounts. 5. Can we pay back the unsecured loan from whom it was taken.

Aashish Jain says : 26Q - Q4 (08-09) - due date
Hello Sir, Could u pls. share ur knowledge as to what is the last date for submission of TDS return Form 26Q for Q4-2008-09??? The premise behind asking this is that as per the amendment made by the Finance Act 2008 u/s 40a(ia), all expenses incurred in the month of March (retrospectively from Asst. year 2005-06) on which TDS is to be deposited (basically 194C, H, I & J) will be allowable or deductible if the same is deposited in the govt. a/c till the last of filing return u/s 139(1).....So, if that is the case then suppose TDS pertaining to a particular expense is deposited on 30/9/2009....so in that case can we file 26Q till 15/10/2009??? I hope my question is clear to u. What will be the applicable Interest/Penalty, if any. Awaiting ur reply. Aashish Jain

Vijay Sharma says : capital gain u/s 2 (47)(VI)
Dear Sir, Your suggeation required on below query. An industrial estate owned by company purpal ltd. registered under section 25 of the companies act 1956, allots units consisting of Land and building to its members shareholders. Under the agreement into for the purpose, the occupiers do not become owners of the units. they have to make interest face deposits with the company. Part of such deposit is made in lump sum and balance in installments with interest on reduding balance. in return co. purpal ltd. has taken loans from financial institiutions on the security of land and building. Pls explain whether provisions of section 47(vi) are appilicable in this case and will capital gain tax is applicable. Pls. suggest. regards