There are more than 2 directors in x pvt ltd.in which mr.A holds 25% of shares and mr.B holds 25% of the shares.They have taken loan from company which is chargeable u/s 2 (22) (e). Mr. A has loan of Rs. 1cr and Mr. B has taken loan od Rs.75 lacs The total amount of accumulated profits is 1cr in case 1 and 50lacs in case2. What is the amount of demed dividend to be charged to Mr. A & Mr.B in both the cases? Under what basis is it charged?
(please specify the ratio in which it will be charged)

Needs experts advice.

Hi,

I have a doubt regarding Rule 3(5) of cenvat credit rules.

Rules says about remaoval of input & capital goods as such.

I am mnaufacturer. I remoave my asset (capital goods) and inputs to my customer site. I want to know excise implications. Whetehr i can take credit of the excise paid at the time of removal.

Whether is there provision against which i can remove without paying excise. It is mentioned abt service provider. Buit not abt manugacturer.

Please tell me the procedure to be followed for increasing the Authorised Capital of a public Company.

Can any body answer with related judgement, if any that-
an assessee purchased a car in scheme of amalgamation. car was actually acquired by amalgamating company before 1.4.2001 i.e. not liable for depreciation. and accordingly not claimed any dep.
However after amalgamation the amalgamated company wants to claim depreciation can he do so?
Pls e mail me at torajnishkumar@gmail.com
or call 9899113350

are level 2 and level 3 companies exempted from preparing the cash flow statement as part of the accounts?
Since AS-3 is applicable only to level 1 enterprises no?

Dear Friends, a warm greeting to all.

Can any one please tell me that whether a Listed Company (Trading Suspended form last many years)which is a sick company having no business, has to follow the corporate governance norms prescribed by the Clause 49 of the Listing Agreements. Is it mandatory to follow for such company.

My question is this - are the level 2 and level 3 companies exempted from preparing Cash flow statement as part of final accounts?

National Advisory Committee on Accounting Standards has prescribed the AS-3 for companies.
Companies act section 210 requires that the P&L and B/S should be laid before the shareholders at the AGM.

thanks in advance

A person wants to avail a loan from a bank. For that he needs the IT returns for the last three years i.e F.Y. 2006-07, 2007-8 and 2008-09. He had income from business below exemption limit, so he did not file the returns in the past. He needs to file the same now. My query is that
1 whether he can file the returns for all the three years or only last two yrs' returns can be filed ?
2 If for the F.Y. 2006-07 return can be filed, then it is to be filed in ITR-4 or the form applicable in the F.Y. 2006-07.
3 Otherwise also, I want to know if one wants to file the return at a later date then the Return is to be filed in the form applicable for the concerned year or for the year in which one is filing the return .Please guide as it is very urgent.

Dear Sir,

One client (proprietorship concern) wants to issue Form 16 to its employees who wish to file their I-T Returns. However, the salary income of those employees are below the taxable limit & hence no TDS was effected during the P-Y 08-09.

Can the employer issue Form 16 if he DOESNOT possess TAN ?

Note: No TDS Liability under any other section also.

Kindly reply asap.

Regards
G. Sharma

what accounting entry pass in books of main company & division if transfer fixed assets to its new division and currently assets held in main company wip

COMPANY DIVISION DISCLOSED SAPERATLY OR INCLUED ANY HEAD OF ACCOUNTS