QUERY

07 November 2008

WHAT IS THE LATIN PHRASE FOR THE EXPRESSION " IGNORANCE OF LAW IS OF NO EXCUSE"

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6 Replies

Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 07 November 2008

Dear Sir Sai Krishna,

Ignorantia juris non excusat

Ignorantia legis neminem excusat

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SAI KRISHNA GHANTASALA (JOB) (202 Points)
Replied 07 November 2008

Originally posted by :Juzer
"	Dear Sir Sai Krishna, Ignorantia juris non excusat or Ignorantia legis neminem excusat	"

thank q

(Guest)

WHAT DO WE HAVE TO MENTION IN RENT COLUMN IN FORM 23ACA OF ROC. IS IT RENT PAID OR RENT RECEIVED

Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 07 November 2008

Dear Bhawna,

You have to mention amount of rent paid in form 23ACA.

Regards

SUDEEP SINGHAL (student) (52 Points)
Replied 08 November 2008

Distinguish between Wagering Contract & Speculation contract

Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 08 November 2008

Dear Sudeep,

I hope this will be useful to you.

Wager	Speculation
A wager is a bet; a contract by which two parties or more agree that a certain sum of money, or other thing, shall be paid or delivered to one of them, on the happening or not happening of an uncertain event.	Speculative transaction” means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scriptts
It is void ab initio	It is valid contract; also government (in Income Tax Law) is making certain speculative contract as normal business contract for securing loss of business entities and to regulate/promote security market.
It is sort of Illegal Contract in India	This is legal and valid contract for all purpose
The future element is for happening of certain event.	The future is depends upon acts of parties to transact.
The parties cannot be sued third person or each other	The parties can take legal action on non-performance of contract and have all the feature/remedies valid contracts