CA RAMESH KUMAR AHUJA's Expert Profile

Queries Replied : 1508

About me

I am a science graduate, law graduate and Chartered Accountant. I have also qualified DISA from ICAI.

I am in practice for about 30 years and take care of Income Tax, Accounting, Audit, Company Law, Service Tax, Bank Audits and System Audit assignments of corporates, LLPs, Firms, Individuals, AOPs etc. I have also been attached to Capital Market Companies where I was heading Business Monitoring department with profile of monitoring of Policies, development of new business strategies, formulation of methods and procedures for the development of business and ways to increase revenues and control the costs.

My other interests are listening Music, teaching pupils, net surfing and playing Badminton. I believe in Karma which is ultimately followed by Destiny.

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asha fernandes says : issue of shares to foreign parent co
sir this company has issued shares for the first time on 11th july 08 to its parent com @ 100/-per share. but in the fc- gpr form that has to be issued by the auidor we have to mention the method of valuation of shares. what can i say coz they have just issued shares without any basis and moreover the time of 30days has elapsed. sir kindly guied me at ur earleist . its very urgent

Bijoy Ranjan Dey says : OLD COURSE
I did register for my CA finals in the year 2002 ..... Do i need to get it re-validated, as has been given in the recent notification? (Period of Validation of Registration of CA Students .... http://www.caclubindia.com/news/2008/6/period_of_validation_of_registration_of_ca_students.asp)

asha fernandes says : audit of software co
sir, when the parent company advances money to sub company.there will be a huge credit balance.when sales are booked as per transfer pricing some advances wouldget knocked off. but some of the advances would be towards fixed assets. the entry passed is fixed assets debited and credited to parent co.so shd to the extent of fixed assets be transferred to any other account. thank u sir

CA Bharat Aggarwal says : COST OF AQUISITION
Sir, First of all I Thank you for sending the reply. But, i am not clear about the cost of aquisition. My client purchased a plot in the year 1988. But till the year 2004 no construction was done on the plot. As per the norms of the Haryana Urban Developement authority, if construction is not done,an extension fee is charged every year for extending the time period of construction. If the extension Fees is not paid then the possession of the plot will be taken by HUDA. The Plot was sold in the year 2004. My question is 1. whether the extension Fees is a part of Cost of aquisition or not ???? 2. The Extension Fee will be treated as penalty or not ???

Akhilesh Jain says : Section 194-H
Sir, i am confused in Section-194h, that whether the tds is deductible on brokerge paid on securities transaction through stock exchange to Sub Stock Brokers. Please solve.