Partnership Act 1932 says that registration of firms is not compulsory but to get the benefits of registration the firm can be registered with the registrar of firms.
Companies act 1956 says that if the in a firm no. of partners exceeds d maximum limit which is 10 for Banking co. n 20 for other firms then d said firm has to get itself registered under the companies act with the ROC otherwise it will b classified as an illegal association (Sec. 11).
Can it b concluded that a partnership firm can be registered under partnership act if no. of partners fall within d max. limit.
Kindly help.

hello friends & seniors
please clear this doubt
whether aas are applicable or new standards on auditing are applicable for may 2009..
many thanks in advance

Dear All,

I came across very strange situation which i want to share with u all.

One of Pvt Ltd Co. has uploaded its return of income in ITR-6. ITR-V was generated showing date of filing of e-return & place was 'BY DEFAULT' shown as Mumbai as its Regd Ofifce is in Mumbai & date of verification 'BY DEFAULT' shown as Date of e-return uploaded.

Now ITR-V was given for sign to Director whose name was shown in Verification Part. Director refused to sign as he was not present in Mumbai on the date on which e-return was uploaded.

How to overcome this kind of situations?
Suggest the suitable course of action.

if a indian company performs a work given by another company situated in Special economic zone (puna),that work is to be performed for another comapny situated at singapore.
sez unit company recieved payment in FCNR account from singapore company
and charges 7% cut and give rest amount to indian company who actually performed the work at singaporeabout 93% in his FCNR account .
Is the payment recieved by indian company from sez unit treated as export which is
exempt from Service tax.

First of all My client started business with propritor to work job work (F.Y. 05-06). so he give the PAN for self to give Deductor company. Now(F.Y. 06-07) he started partnership firm the Deductor company deduct tax in Propritor PAN and qtr statments of tds is also Propritor.
So Partnership firm not get refund order in his return for the f.y. 06/07. how can i adusted this refund order in partnership firm.

X ltd having Computer Worth rs. 25000 in balance sheet during the year x ltd paid rs. 6900 for purchase of software, Rs. 2500 for the maintainance of website, Rs. 3690 purchase of ram, so shall X ltd have to capitalise Rs. 6900 if yes then what is the rate of depreciation in companies act and in cometax act.

Hi

What could be the modus Operandi to convert sole proprietorship/partnership firm into a private limited company.

could the financial statements of pvt.ltd. revised and whats the requirement should be fullfilled?

Dear sir,

I have query regarding Application money refundable and interest payable on deposit which remains unpaid for more than 7 years. In one of the company in which I am auditing having two account. 1. Unclaimed Application Money 2. Interest payable on Deposit pending information.

In first account i.e. Application money, the contension of the company is that they did not get information from Central Bank regarding payment they made to the investor. So they did not change the balance after last confirmation. Around 8 lacs Rupees lying in that account. Further

For 2nd account, they informed me that only 23000 remains payable and we will pay if liability arises. But it is payable from 1993-94.

I am not comfortable with the companies explanation regarding this. According to me, both amount has to be transfeered to the Investor Protection Fund.

Please suggest your opinion.

Regards,

Jigar

ONE OF THE COMPANY IS DEPOOSITING TDS LIABILITY WITHOUT COMPUTING THE ACTUAL LIABILITY. SO THERE ARE MANY CASES OF SHORTFALLS AND EXCESS DEPOSITS OF TDS TILL DEC 08.( FY 2008-09) HOW CAN THE COMPANY ADJUST ITS BALANCE OF TDS PAYMENTS ???

CAN THE EXCESS DEPOSIT OF ONE SECTION BE ADJUSTED WITH SHORTFALL OF THE OTHERS ????

CAN THE DEPOSITS OF THE SAME SECTION BE ADJUSTED ON MONTHLY PAYMENTS WHERE THERE IS SHORTFALL AND EXCESS ???