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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Nitin M Jichkar says : Calculation of ST
How to calculate service tax in following case( Resident flat ) Market Value 55,00,000/-( Stamp duty valuation ) Selling Prices ie contract value 46,00,000/- ST whether to be calculate on Market value of Contract value

Mahesh says : R.T.O. Tax
i want to know regarding road tax. how it calculate. owned and company vehicle.it is one time or yearly,Qtly ?

Roshan Shrestha says : Principal not sign exam form
My principal would not sign my exam form as i have filed a complaint against him.I have given my first attempt though in May,2015 which means i am eligible for the exam .please reply

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