Anonymous
29 December 2010 at 10:43
A charitable trust have Corpus Fund and want to lend/invest it as debenture in Private Limited Company through private placement.Question in respect with above are as follows:
1. Whether Section 11(5)of Income TAx Act 1961{i.e.prescribed investment}is applicable to Corpus Fund ?
2.Whether newly trust can invest corpus fund in above manner?
All of you are kindly requested to answer the same. Thanks.
Anonymous
28 December 2010 at 13:11
Dear Members
'A' company from London is executing 'deed of guarnatee' with 'B' Bank for availing a loan of Rs.20 lakh. The 'B' Bank is in Australia.
But 'C' is the Guarantor from Bangalore and giving garantee to the 'B' Bank on personal capacity.
Let me know whether stamp duty payable by 'C' on 'Deed of Guarnatee' or duty is applicable as per Karnataka Stamp Act.
All 'A' director are from Bangalore.
According to me Rs.200/- stamp paper is enough. Or else.
'C' has to pay any duty on Rs.20 lakh
It is very urgent.
Please
NOTTAM VENKATASAMY
27 December 2010 at 20:02
HOW I INPUT MY NEWS AND VIEWS, ALREADY I TYPED SOME NEWS AND VIEWS BUT THAT ARE NOT SHOW IN ANY FIELD PLEASE INSTRUCT ME
Anonymous
27 December 2010 at 18:33
We are the manufacturers of excisable goods. We are clearing the goods on payment of duty indienious and we are exporting the goods also. At the time of exporting we are engaging some of the services like C&F agent for filing of papaers at port and other port services. They are raising the service tax bills. We are availing he cenvat on the strength of those bills. But the department contention is tha those services are not input services hence, we have to claim the refund from the department. Basing on the latest Chandigarh H.C judgement it is eligible for cenvat. Pl refer the board circulard No. 97/2007 Dated 23.08.2007 owner ship of the goods will be discharged at the port hence the place of removal is port. Up to port all the services have to be covered under the definition of input services. As long as the assessee can avail the cenvat there is no problem to avail the cenvat, but in such cases like marchent exporters are not in a position to avail such cenvat of service tax they have to claim. The input service is having the vide meaning and scope in or in relation to the business all the services covered in the definision. Claiming of refund and the same amount we are depositing in the bank for pla is not a correct job either to the department and assessees also.
Please share your valuable views
ravi
27 December 2010 at 15:01
Sir, We have a property of 10 acres of land.
Now, We are going to form a trust and sell the land through the trust and develop the trust by constructing temples, function halls etc., We want Private Trust.
Can u please give the details of Private Trust Deed Agreement.
Muhammed Farooq Khan
27 December 2010 at 10:30
Dear Sirs,
Managing committee of our society are not conducting adjourned Agm, though they have crossed the one month limit. Can we the members call for the meeting, and pass a no trust vote against them, and oust them.What is the procedure.
If need be we are willing to pay the professional fees for a complete legal advise.
with warm regards.
pisho@rediffmail.com
9820989050
Rajesh
26 December 2010 at 15:13
Hi All,
I am forming Part IX company. Existing partnership firm has 2 partners, but i had introduce 5 more new partners and i had made Reconstituted partnership deed cum agreement for conversion of partnership firm into company.
I had obtained din of 2 promoters who will be directors and dsc of 1 director.
Now, I want to fill the Form 1A, but I want to know the attachments required with it. As per my knowledge, latest balance sheet of firm should also have to attach. But I want to know whether Balance sheet should be of audited B/s of March'10 or the latest copy of B/s upto Dec.'10 certified by CA. Also do anyone have the format of consent letter, resolution passed by partner to convert firm into company.
Also, please suggest me whether MOA and AOA should be prepared before filing Form 1 ? Do any one have format of MOA and AOA of Part IX company.
Please guide me with these all and if needed i'll ask again the related queries.
Rajesh
26 December 2010 at 15:09
Hi All,
I am forming Part IX company. Existing partnership firm has 2 partners, but i had introduce 5 more new partners and i had made Reconstituted partnership deed cum agreement for conversion of partnership firm into company.
I had obtained din of 2 promoters who will be directors and dsc of 1 director.
Now, I want to fill the Form 1A, but I want to know the attachments required with it. As per my knowledge, latest balance sheet of firm should also have to attach. But I want to know whether Balance sheet should be of audited B/s of March'10 or the latest copy of B/s upto Dec.'10 certified by CA. Also do anyone have the format of consent letter, resolution passed by partner to convert firm into company.
Also, please suggest me whether MOA and AOA should be prepared before filing Form 1 ? Do any one have format of MOA and AOA of Part IX company.
Please guide me with these all and if needed i'll ask again the related queries.
Jamai Of Law
25 December 2010 at 11:27
I am in urgent need of supporting citations (Bom HC, SCC) which are pro towards 'application for Review of Ad-Interim Maint Order' at Family COurt.
Kindly offer suggestions.
The Scenario as follows:
Petitioner-wife although awarded int. maint vide interim Order for the 'sake of kid' and not for her vide sec 24 of HMA, had concealed material facts (which are avaiable as new disclosure which is glaring and can't be ignored. Wife is found to be saving double the money in FDs, than what is asked in maint., and came to court with unclean hands that she hasn't got enough money to support her as well as kid) This disclosure was unknown to husband
In the Order passed, there are self-evident 'errors which are apparent on the face of records, such as'
Court concluded that no evidence is adduced by Respondent-husband about a fact, but evidence was very much there on record and it was submitted at the time of WS filing.
Wife herself conceded about the 'existance' of the facts for which court was asking proofs to respondent, which respondent he couldn't gather (but didn't ask for more time).
'Sudden U-turns, travelling beyond the pleading, amendment to pleading' by Petitioner-wife 'on-the-fly' during argument , although dis-agreed by respondent. Court presumed and allowed the amendment to pleading, whithout assigning and ascertaining the burden-of-proofs to petitioner (which is a glaring 'procedural error' in FC, on the face of records). also This is not inference but it is self evident by reading the text of the order.
This caused 'erroneous' inferences subsequently by the court....but 'erroneous judgement is the outcome of the 'errors on the face of recorsd'
and counter plea 'appeal in disguise' can not leave the respondent remedyless
as respondent is 'NOT allowed for appeal' as this is interim order,
as respondent is allowed NOT allowed for Civil Revision at HC (videCPC 115, in the present context, only wife may go for Civ. Rev. Pet. at HC if the interim order results in finality of suit, but that is also not the case here.)
and Respondent is left with only remedy of EITHER Review at FC
OR Writ under 226 and 227 at HC
'errors on the face of records' has caused to occurance of judgement which the respondent finds it 'erroneous'.
And hence Respondent prefers to apply for review, not purely from the view that 'judgement is erroneours' but mainly from the perspectives of 'error on the face of record' as a primary reason, but feels entitled to get the 'judgement corrected' in the due process.
'Court of equity' prevails all the time along with 'court of law'. Respondent (at FC people not expected to be proficient in law) can't be made to run pillars to post, for conflicts of 'province of appelate court and original jurisdiction'.
If anyways if the review is to be ordered, then he be allowed to adduce the evidence which wasn't produced earlier, that doesn't mean amendment to pleading but supplication of incomplete evidence.
Error are liable to made by everyone, error and offence are different.
If judiciary has provisions to correct its own mistakes in records, then litigants in FC who are illiterate of law, are shown the rulebook about timely submission fo record?
litigants in FC, who are illiterate of law, also be benevolently condoned about their 'failure to adduce evidence in timely manner'
Respondent was expected the wife to come clean before court in financial matters which are trasparent due computerisation of banks etc, and on top of it she was expected not to take U-turns and sudden outbursts which in fact resulted in conceding to
Actually 'the correction of erroneous judgements occured due error on the face of records' is within the review jurisdiction .
How to counter/demolish a very likely and very anticipatory counterplea of 'appeal in disguise' from the opposite party?
Please advise and please refes of useful citations if any
If the FC rejects the 'Application for review'...does the respondent still have remedy available under Writ under 226 and 227 at HC afterwards?
If the FC allows the 'Application for review', ...........
but in review and rehearing of the same if the court retains or comes to the same conclusion as previous one (which is unlikey....raher it shud reject app for review........... process of allowing the review underlines summarily.............about the possibility of settig-aside the previous order, ..............unless opposite party also comes with statling new evidence to defend the order)...
does the respondent still have remedy available under Writ under 226 and 227 at HC afterwards?
Thanks for your expert suggestion, in advance
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EDC chages by TDI on yet to be started blocks
HI,
I had applied for an apartment in TDI- Kundli Kingsburry
in 2005
They are yet to begin construction of the block in which
I have the apartment.
They have asked me to pay revised EDC of some 3.5 lacs
Q: Is it mandatory for me to pay even if they havent even started on the block?
And they are asking for 18% interest penalty for non patment
kindly help
Warm Regards