CAclubindia

Queries Replied : 209

Consulting in international taxation, TP and other related compliances.

Arihanth Jain
Chennai, Tamilnadu, India
arihanth @ grantco.in

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Ashish Sharma says : 15 CA same issue
Dear Arihanth, Can you please forward the NSDL mail for my reference since i am also gone through with same situation. Regards.

CA Amit Rajput says : Please give your comment
****Welcome to all experts to join in discussion **** I have a case about a an Investment (private limited )company which maintaining books of account on mercantile basis. But company records income on receipt basis from April to Feb and in the month of march a consolidate receivable from April to Feb is recorded and for month of march on receivable basis. my question is that is this practice of following cash basis accounting for 11 month and in March remaining receivable on consolidate basis i.e.(receivable less received) and for only month of march on pure receivable basis is Correct ??? Means following cash basis accounting for 11 months and Accrual basis accounting in month of march is correct or it will be treated as hybrid system. Is there any clarification from ICAI or Department for following accrual basis accounting through out the year? Pls join in discussion

kasturi says :
Respected all, Can anybody tell me whether charge is required to be created with the ROC even if the Banker does not insist. Our company had filed form 8 after 60 days with ROC and paid filing fees also in the year 2008.But charge is not created.Now the ROC has sent a mail stating that your form 8 is pending that too after 3 years.we have already repaid full amount of loan. what course we need to take now.whether we need to go to CLB?what would be the penalty if we go for compounding? as loan is laready paid and charge is not created whether we require to go to CLB now? urgent reply is sought from our friends