I have seen new incorporation form is from 1st Feb 2020 but till date new form( Form SPICe +) is not found in MCA Website so when this available in the website ? Can we Incorporate in old format /procedure now or we have wait till new form available in the MCA website?

One NBFC generates their revenue as interest from borrowers and they need to pay this interest to their investors so how they have to show this amount as expenses in books withou invoice??

Sir,

My clinet seek my opinion regarding Employer-Employee Policy of HDFC Life under Long Term Reward Program. When I am aked for my opinion, I differ with them understanding.

MY UNDERSTANDING:

While taking policy: -
Policy will be assigned to the employer for a specified period.
Premium paid by the employer will be deductable in the hand of the company u/s. 37 (1),
Premium amount will not be added as income in the hands of employee as perquisite,
Policy will remain in custody of the co for a specified period or till it re-assigned in favour of that employee.
Nominee of the employee will be the beneficiery of the policy.
maturity and withdrawals the exemption u/s 10(10)D would be available.
No withdrawal will be allowed to be made by the employer

IN CASE OF DEATH OF THE EMPLOYEE: Benefits of the policy are passed on the nominee.

POST ASSIGNMENT: The premium paid by the employer till that date will be added to the income of the assignee and he will be charge to tax.
under sec 17-2(v)

WHERE WE DIFFER; They says only :SURRENDER VALUE OF THE POLICY" will be chargable to Assignee and not entire premium paid by the employer, as surrender value falls in the hand of employee, if he discountinue the policy.

MY QUERY: WHAT IS THE TAX IMPLICATION IN THE HANDS OF THE CO AS WELL AS IN THE HANDS OF THE EMPLOYEE/RE-ASSIGNEE DUE TO TERMINATION OF SERVICE/BENEFITS FOR WHATSOEVER BE THE REASON.

Respected Sir,

On 03-10-19 I had filed ITR-4 for the Ay 19-20 showing taxable income after all deduction of Rs 2,13,00 out of gross total income of Rs. ,2,50,000 on account of salary but returned was found defective in ITR-4 and later on 07-01-20 I had filed ITR-1 u/s 139 (9) showing the same income as above. But the intimation received on account of the revised return is demanding a penalty of Rs 1,000 u/s 234-F. Even in this return the gross total salary was Rs 2,90,000 and taxable income after all the deduction was of Rs 2,13,00. Whether in such case 234-F penalty will be liable? Please guide me and oblige.

My CA FINAL registration is valid till january 2020. As i am appeared in last exam should i need to revalidate my registration before filling form for may 2020 exam ?

In f.y 2018-19 and in the quarter January to March 19 I have shown nil turnover and filed gstr-3b but did not file gstr-1 of this quarter. But later found that the invoice of this period was there and I forgot show in gstr-3b in f.y 2018-19. So I have shown in gstr-1 in January to March 2019 to avoid the allegation of fraud intention by the office. So I also make the payment in the month of May 2019 which is now in my cash ledger. Now what I will do to offset the tax liability because I have filed nill return in gstr-3b in this said period. Now I want to make the voluntary payment in form drc-03 so kindly help me that u/s 73(5) I will make payment by intimation for vuluntary payment or others cause. OR is there any other way to solve these problems. Kindly suggest me

I have a manufacturing unit from last 3 year. at now can I obtain LLP registration of my manufacturing unit?

I imported machine under EPCG Scheme, but now I want sell the own machine, Can I sell?

If we cancel registration of Composition Taxable Person in GST, then do we need to pay 1% on stock lying with him on the date of cancellation?

An Indian company has hired a legal consultant to look after its case in Sri Lanka. The consultant is providing the services in Sri Lanks itself. Would there be any withholding tax to be deducted? Please advise.