CMA Ramesh Krishnan's Expert Profile

Queries Replied : 26053

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

Award Winner as " Most effective Expert in Caclubindia-2011" My working style always like,

Take life always as challenge,Think positive,

Give involvement on taken task,Donot divert your concentration from the taken task,

Always target your goals and commitment,Your future always better. Jai hind. Thank you for visiting my profile

To reach me : cma.rameshkrishnan @ gmail.com or send PM for queries & professional help

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Zaffar says : Tax implication on Debit card reward or cash back
Hi i am investing in mutual fund through debit card every day. so my annual purchase/sale cross 1.5 crore last year. get 2 lakh as reward some are cash back and some are kind. please let me know will it be taxable under gift tax? tax audit required? is this my business income or STCG? please answer with act and rule so that i can further google. Please.

CA Mohit Garg says : tds
Dear friend, Client received an intimation for short payment of tds 1. Now, payment of balance tds to be shown under head 200 or 400 if 400 is selected than whether deductee can take credit for the same 2. how to show the same in correction statement e.g. Amount paid u/s 194J Rs.2000 and tds is Rs.200 But client paid TDS of Rs.100 and received an intimation Now in correction statement, amount paid Rs. 1000 & tds 100 has to be shown two times or there is some other way

CA Parag Sawarkar says : CMA
Hi, I have completed my company secretary. I now took admission to CMA-Intermediate. I am eligible for exemption of 3 papers out of 8 papers of CMA-Inter. I am also eligible for SIMPLIFIED COACHING SCHEME. Can you please give me what is simplified coaching scheme? Which papers I have to write for postal coaching purpose? Do I have to write papers for exempted papers also?

PRASHANT SHARMA says : FIRST FORM 20B (Queries for SharesTransfer detail
Sir, In my case, a Company registered dated 23/05/2012 having 6 directors each holding 2000 of Equity Shares (Details as filed in FORM-1). During the Financial year, due to some disputes among the shareholders, 2 of them resigned on 01/07/2012. We have duly filed FORM 32 on 01/08/2012 for the same.And we assumed that all Shares of the resigned Shareholders transferred to one of the existing Shareholder of the company (have not filed any form for Transfer of Shares). Now, while filing its First Annual Returns (FORM 20B), we have properly given the details of all the existing & resigned directors (Date of ceasing wherein applicable) Now, the point is that we want to normally show the shares of resigned directors' (2000+2000=4000) added to share holdings of 1 of the existing shareholder. Is our point of view is correct according to the provisions of Company Law and process or not? if not what is the actual process for the same(for 1st FORM 20B)? Please highlight the same as your earliest.