I have a private limited company, wherein there are 2 directors who are even shareholders for the same. They are not receiving any remuneration by way salary for the year. At the end of financial year, they are willing to charge consultancy fee for the period.
share capital being 1 lakh and consultancy fee being 10lk
Can you help me out if any restrictions are there on payment of consultancy charges.
Is any resolution required to be passed for the same.?
If yes, under which section it is applicable?

Dear All,

Requesting detailed SOP samples for:
Accounts Receivables
Cash and Banks
Reporting/MIS
It will be helpful if anyone can share detailed processes for ecommerce company.

Dear,

Just had asked a Q of shifting March Purchase invoice in april, i had received answer "NO", but if bill is still not done then in that case can we shift.

ONE OF MY FRIEND RECEIVED COMPENSATION PAY FOR VRS DUE THE CLOSE DOWN THE FACTORY DURING THE MONTH OF JAN.2020. PLEASE LET ME KNOW THE COMPENSATION PAY LIABLE FOR INCOME TAX OR EXEMPTED FROM IT FOR THE FY 2019-20 (AY 2020-21)

PLEASE CLARIFY

REGARDS
S. RAVICHANDRAN

Dear,

Can we shift March bills in april though we have not paid tds or neither claimed ITC .Gst is still not reflecting on portal.

What would be the time of supply in case a painter gives his paintings to a gallery. If the painting is sold the gallery keeps a certain sum for itslef and the rest is given to the painter, and if it is not sold then the painting is given back to the painter. The gallery only recognizes an income if a painting is sold. It doesn't charge a commission for only displaying the painting.
How should the transaction between the painter & the gallery be recognized ?
Is it a supply of goods or services? Should it be treated on Goods on Approval Basis?
Please suggest regarding the same.

Hello everyone!!

One of my friend wants to cancel the GST registration(regular scheme). And he is having the stock of Rs. 2,00,000 and GST on stock is around 35,000. He has filled the GST return for the month of march 2020 and also he has filed the GST1 for the quarter Jan-20 to Mar-20. Reason for cancellation is he has not reached the threshold limit for last two financial year.

What will be procedure to cancel? 
How to make the payment ?

In future if he wants can he re register? 

Dear Experts
We started a trust in october 2019 and applied for 12a registration online in january 2020. till now we have not received any reply for additional details.

what shall we do now. should i apply again as per budget amendments or wait till 6 months

Mr. Bhudev Aggarwal, an unregistered person receives commission of Rs. 21,00,000/-
as an insurance agent from insurance company. Will he be required to charge GST on
the same.

A listed company wants to acquire 100 percent shares of a private company thus making it a wholly owned subsidiary. What is procedure involved in filling forms with Roc and is any AGM/EGM is required in acquirer as well as acquiree company.