CAclubindia

Queries Replied : 26053

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

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PRASHANT SHARMA says : ADJUSTMENT OF EXEMPTION LIMIT IN CASE OF NRI
Sir, Following is the exact scenerio, Please clarify it:- STATUS: NRI & All income relate to India. Short Term Capital Gain (STT): Rs. 121184/- FDR Interest: Rs. 104561/- Total Income: Rs. 225745/- But Tax is being generated @ 15% on STCG (i.e. Rs. 18723/-) inspite of Total Income being less than Exemption Limit. Please Clarify can NRI adjust the exemption Limit against STCG covered under section 111A or not?

krishna says : urgent help required
We have a major problem. We are a dealer company in India for a france based company. we have started marketing their products in india and recently bagged a order also. now the point is the manufacturer says they have customs exemption to export to India and need not pay any customs duty except some taxes in India. if so what would be those taxes? and how much? 2. from now we are planning to buy the products ourself and sell in India in this case how much and which form of Tax do i need to collect from my customers? 3. do we have any refunds?

PRAKASH DAGA says : QUERY
I want to know that in case of LLP, is it mandadory to file E-Form-8 for ANNUAL or INTERIM or both, as the case may be? I read on MCA site that it is not mandatory to file E-form-8 for creation, modification and satisfaction of the charge. Kindly solve this Query. (REF: www.mca.gov.in/MinistryV2/llp_eFiling_faq.html) Kindly check FAQ-25

PRAKASH DAGA says : QUERY
I want to know that in case of LLP, is it mandadory to file E-Form-8 for ANNUAL or INTERIM or both, as the case may be? I read on MCA site that it is not mandatory to file E-form-8 for creation, modification and satisfaction of the charge. Kindly solve this Query. (REF: www.mca.gov.in/MinistryV2/llp_eFiling_faq.html) Kindly check FAQ-25

ramkumar raja says : bank acc status of pvt to public converted company
Respected Sir, When a company is converted from pvt ltd to a public ltd company what happens to its bank account status??? How soon the change must be intimated to the concerned bank??? Can a company after conversion to a public limited still continue to hold a bank account in the old name of the pvt ltd company??? If they have such account for a long time and continue to transact business in that account for years together is it illegal? if so what action can be taken against them??? Thank you