KAAPIL's Expert Profile

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Aashish Jain says : 26Q - Q4 (08-09) - due date
Hello Sir, Could u pls. share ur knowledge as to what is the last date for submission of TDS return Form 26Q for Q4-2008-09??? The premise behind asking this is that as per the amendment made by the Finance Act 2008 u/s 40a(ia), all expenses incurred in the month of March (retrospectively from Asst. year 2005-06) on which TDS is to be deposited (basically 194C, H, I & J) will be allowable or deductible if the same is deposited in the govt. a/c till the last of filing return u/s 139(1).....So, if that is the case then suppose TDS pertaining to a particular expense is deposited on 30/9/2009....so in that case can we file 26Q till 15/10/2009??? I hope my question is clear to u. What will be the applicable Interest/Penalty, if any. Awaiting ur reply. Aashish Jain

Vijay Sharma says : Capital Gain U/s 2 (47)(vi)
Dear Sir , Your suggetion required on below query :An industrial estate owned by company purpal ltd. registered under section 25 of the companies act 1956, allots units consisting of Land and building to its members shareholders. Under the agreement into for the purpose, the occupiers do not become owners of the units. they have to make interest face deposits with the company. Part of such deposit is made in lump sum and balance in installments with interest on reduding balance. in return co. purpal ltd. has taken loans from financial institiutions on the security of land and building. Pls explain whether provisions of section 47(vi) are appilicable in this case and will capital gain tax is applicable.

Shilpa Verma says : ACCA Qualification
I am a commerce graduate and currently working in Ernst and Young as an entry level auditor. I am thinking to go for ACCA, can u plz guide me whut wud be scope of this course in India after 2-3 years?

JenzZ says : Plz guide me Sir
Sir,am a pcc student.1yr articleship completed as on feb'09.in march'09, i availed study leave from my firm n came to uae to join my husband here.march april n may has been recorded as leave in my firms muster roll...of those 3 months, how leave shal be calculated in days?...is it 90 days or 65 working days(excl sat n sun). Also. i would like to continue my articleship here in uae.new rules relating to transfer leaves me worried. am afraid i wont get transfer.is my husbands stay n work here a valid reason in insititute's eyes to allow me transfer..Also, continuing articleship here is permitted bt ICAI right?..i also heard tht, tht clause is goin to b removed..plz guide me...jamsila@gmail.com

S K Jain says : Question is
I have certain peculiar/interesting queries with respect toPrivate Limtied Co 1) Articles provide that directors can be appointed by the parent company. In addition to this clause the articles also provides that Board can appoint alternate, Additional and Directors in casual vacancy. Assume the articles read as follows- X) i) The First Directors of the Company are............. ii) Any other directors can be appointed by Parent company, on such terms and conditions and such period Y) Power to the board to appoint Alternate, Additional and casual vacancy Query: If any director is nominated by Parent Company under X(ii) and the appointment is noted by Board, does he still needs to be reconfirmed/appointed in the next AGM. Can the powers be given to shareholders for such appointemnts and still not routed through AGM. On reading 255(2) i guess he needs to be reappointed. 2) Validity of the directors disclosure taken in January every year under section 299. Is the Company voilating the provisions 3)Can the manager be appointed only for Digital signatures and his name reflected in MCA Website? 4) Is the Company not complying with the provisions of Act, if the shift of reg office is intimated but the ROC does not change its record 5) Procedure to remove the name of manager from the portal, for which DIN3 is filed but no Form 32 is filed Please reply.

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