Member (Account Deleted)
05 June 2010 at 08:58
For eg.if an organisation releases a periodical.The printing cost of a paper be Rs.4. If the selling price be 6 or 7 rupees.. Should all the profit earned be diverted towards charity for tax exemption? Or can any part of it be used for further printing expenses? 'll that result in taxation? Also there won't be any salary or assets purchased by the members of the organisation with this money..
ajeet singh
05 June 2010 at 00:16
hi,i worked in an organisation name"microstar"as floor manager from jan 2010 to 26 april 2010.on 26th april 2010, i resigned on certain illegal grounds which was unacceptable to me. actually, microstar is a call centre institute which provides training of call centers.So i resigned from there.Now i am asking salary ie10,000+2,000 incentive. but the owner of microstar replied me that she could not provide me salary as she is in great loss,due to my resignation.i have sent a notice to her with the help of local lawyer of 7 days to pay my full salary.now i want to ask whether my case is strong or not? what are the acts of laws which can make my case strong.suggest me some ideas for it.I have attached copy of appointment letter,as i have typed in word.you can read this analyse my right to ask for salary.
Ashok. B.V.
04 June 2010 at 16:19
Dear Sir/s,
My friend wanted to set up one Diamond Jewellary shop in bangalore. the following are my query
1. what types of approvals/ licenses i have to take from local authority?
kindly guide me
Anonymous
04 June 2010 at 16:03
I, Swarup Modak, an inhabitant of Bidisha Housing of Konnagar, Hooghly and a member of Bidisha Co-operative Housing Society Ltd. (in short the ‘Society’), Konnagar, Hooghly. The said membership is duly approved by the Co-operation Directorate, Hooghly Range (Former: Office of the Assistant Registrar of Co-operative Societies, Hooghly).
I purchased one residential flat of 477 sq. ft. at Bidisha Housing Project Ph-II (hereinafter referred to as the ‘Project’), Konnagar Hooghly which is promoted by the West Bengal Housing Board (hereinafter referred to as the ‘Board’), Kolkata.
I have purchased the aforesaid flat after being satisfied the free space of the General Common Areas of the Project. During purchase there was neither any Cycle/Two-Wheeler Stand nor any Flagpole base with sophisticated fence in any place of the General Common Areas of the Project.
An extract is given below from the Sale Deed which is made after purchase of the flat(s).
“The general common areas and facilities provided for the purchasers of flat in the estate mentioned in the Third Schedule hereto shall at all time be held by the purchaser and/or allottee member(s) along with other purchasers of flat in the said project and shall be used and enjoyed by them in common amongst themselves and neither the allottee/occupier nor any other purchaser of any flat in the aforesaid estate shall any time be entitled on any ground whatsoever to make partition or division thereof or to claim to have exclusive right in any manner whatsoever to any portion of such general common areas and facilities/amenities and that the purchaser along with the other purchasers of different flats in the aforesaid estate shall use the said general common areas and facilities/amenities for the purpose for which they are entitled to without hindering or encroaching upon the lawful rights of other purchasers and occupiers of other flats in the said Project.”
The Society has built the following in the free space of the General Common Areas.
1. Cycle/Two-Wheeler Stand – 1 no.
2. Flagpole base with sophisticated fence – 1 no.
The Society discussed regarding the Cycle Stand in several Annual General Body Meetings and the member(s) were agreed to violate the mandatory provision(s) of the Sale Deed whole-heartedly.
An extract from the minutes of 80th Board Meeting of the held on 30-08-2009 is given below:
“…iv) Intimation to W.B. Housing Board
- has already been completed”
The Society intimated to the Board prior to the construction of the Cycle/Two-Wheeler Stand.
The Board, being a party of the Sale Deed, a seller, has helped the Society to violate the mandatory provision(s) of the Sale Deed. The Board did not try to protect my right as I have paid money to them for the said flat as well as the General Common Areas in the Project.
The DRCS (Former ARCS) and the CI, Serampore has put their unauthorised interference by giving permission for construction Cycle Stand in the General Common Areas of the Project. Neither the DRCS nor the CI has spent any money for the said Flat as well as the General Common Areas of the Project nor the said property is their ancestral property.
On 29-12-2009 under ref. Memo No. 2153 M I – 3336 the ARCS issued a letter addressed to the Society as follows:
“...this office of the undersigned is not in a position to accord any sort of permission in this respect right now, because, out of 450 no of existing members of your society (having 540 no. of flats), the no of members likely to be benefitted from the proposed cycle stand is not duly furnished (more precisely, the capacity of the proposed cycle stand is not mentioned).
Now, you are hereby requested to need-ful for submission of this related documents in this regard for further course of action from this end.”
On 30-12-2009 the Society received letter from the ARCS and on the same day under ref. BIDI/Cycle stand in para 4 the Society replied to the ARCS through the CI as follows:
“ 4. Now about the capacity of the proposed stand we may say that the capacity of the stand depends upon the way the cycles are placed. The area of the proposed cycle stand is 110 ft x 8 ft. Our estimate is that around 200 cycles can be placed in the proposed cycle stand.”
Out of the above, the rest which the Secretary of the Society had written in his letter almost was not as per the requirement to the letter of the ARCS. It was a story which the Secretary of the Society manufactured just to influence the ARCS for obtaining sanction for the Cycle/Two-Wheeler Stand in their favour.
On 31-12-2009 under ref. Memo No. 179/09 the CI, Serampore Circle forwarded the letter of the Society along with favourable comments:
“...so that construction work for the cycle stand could be started as early as possible.”
Even she did not try to justify before writing to you whether the reply of the Secretary of Bidisha was in line of your letter.
On 04-01-2010 under ref. Memo No. 21 I – 3336 the ARCS issued a letter addressed to the secretary of the Society with an open permission for construction of cycle stand and the ARCS wrote as follows:
“...you may construct the Cycle Stand provided all the members (and their family) of your society can get the benefit of it irrespective of caste, creed, colour and sex for registering peace and tranquillity within our society.
At the same time, you are also requested to take necessary measures for construction of one or more no. of Cycle Stand for further requirement (if any) to meet up the need as well as demand of the members (General Body) over and above the existing capacity of the proposed Cycle Stand...”
The DRCS and the CI helped the Society directly to violate the mandatory provision(s) of the Sale Deed through applying their Official Power illegally and forcefully.
After getting success from violation of the mandatory provision(s) of the Sale Deed the Society has built one Flagpole base with sophisticated fence in the free space of the Project without any intimation to the concerned.
In the main Site Plan there is no any provision for any type Construction like Cycle/Two-Wheeler Stand and/or Flagpole Base in the free space of General Common Areas of the Project.
There as numbers of unsold flats in the Project which the Board will sale in coming days to his customers where an illegal Cycle Stand and/or a Flagpole base exist.
The aforesaid Cycle/Two-Wheeler Stand will create a serious social problem in the Project. The privacy of family members, especially lady members, of the unsold flats which are attached to Cycle/Two-Wheeler Stand will become completely destroyed. Round the clock all people will move besides their windows. It is impossible to give guarantee that no one will peep through the windows (bedroom/bathroom/kitchen/dining room) of the said flats. They should also have right to use and enjoy the sufficient free space besides their windows like other allottee member(s).
In the Sale Deed the Purchaser is the Society and I am a confirming party.
How should I be able to recover the free space?
R_PVK
04 June 2010 at 15:53
Dear Sir
My mother had acquired two row houses of her brothers asset and lettervof administration is been issued thru madras high court . now the problem is that she is very old nearing 80 and she wants to nominate me as her only son for the assets to be distributed since if she sells it now it can capture hightax capital gain but when we enquire our lawyer what he says is that with the letter of administration what she got she cannot nominate her children but she can sell it off by with holding for more that three years for gaining low tax capital gain. Sir pl advice in this regard since i am totally confused
regards
R_PVK
Anonymous
04 June 2010 at 15:21
1. The Company was incorporated in beginning 2007
2. The Paid up Capital of Rs.1 lac (10000 shares of Rs.10/- each) was divided as follows:
1. Mr.P 99.90%
2. Mr.Q .1%
3. Mr.P, Q, R and S were the directors of the Company. Mr.P had entered into a shareholder agreement (SHA) with R and separate agreement with S to form this new Company, whereby Mr.P was to transfer 10% of shares each to R and S respectively. The same was done in year 2008 at face value. The SHA however, does not form part of the articles and is being informally agreed between the parties.
Revised Shareholding pattern in 2008 (Post above transfer) is as follows:
1. Mr.P 79.90%
2. Mr.Q .1%
3. Mr.R 10%
4. Mr.S 10%
4. Now, there was a deadlock in management as Mr.S could not bring in desired business and there was non-performance. Mr.S has resigned in end 2009 at his will and has also returned the shares at nil consideration and wants to move on. The same has been mutually agreed to between Mr.P, Mr.R and Mr.S.
5. The Book Value of the Company is very high in view of accumulated profits. Mr.R wants to just return the shares without any consideration and move on.
6. The Company has further done private placement in March 2010 for 40,000 shares to a Company which subsequent to this becomes its holding Company (80%). The Total Paid up Capital now is Rs. 5 lac.
Query :
1. Company Law : How can he return the shares to the Company so that it does not hit section 77 (Purchase of own shares by a company) and Section 100 (Reduction of Capital) of the Companies Act, 1956.
2. Tax : Please enlighten on the tax implications u/s 56 or any other section. We do not want any tax implication in the hands of the recipient.
sangeeta
04 June 2010 at 14:51
daer
i have one question
1.my society taked two building on rent 10 and 15 years , ,,both owner is same only 10 year building his wife name is also joint
2. he told me all property for comercial use like hospital school etc work that menstion in lease .
3 after some days i have come to know that some floor of that building map is not approved by meerut development atrorty (mda) and in betweet that sealed by mda .and suit filed by mda by his name on that building
4 another some porstion map is also not approved by mda , have notice in second 15 year building
5. in civil court he declared who say my map is not approved by mda , my map is approved by mda (he tell a lie ) after this pws that building was sealed, by mda
note---- all this is froed or not
geeta mob-9897146475
abdulla
04 June 2010 at 12:43
FACTS
Mr. A owns a 10,000 sq ft. plot. on this plot he constructs a building on a portion of the plot measuring 3000 sq ft. After certain years he leases the vacant portion of the plot (7000 sq ft.) to a builder to develop the same.
The builder constructs a building and sells the flats. The flat owners form a Co-Operative Housing Society under Maharshtra Co-Op Soc. Act 1960. How ever the land on which building is constructed by the builder is neither subdivided from the original plot nor is the land conveyed to the society. After about 30 years of the construction of the building by the builder Mr. B buys the land rights of all 10,000 sq ft. from Mr. A’s heirs and gets his name registered on the property card.
PLAN
Now Mr.B wants to buy all the flats in the registered co-op society and demolish all the structures and construct a single new building on that plot.
HOW BEST TO EXECUTE THE PLAN
How should he buy the flats? What will happen once the no. of members of the society falls below the stipulated mandatory number of 10? We should decide in view of the fact that the society does not have the conveyance of the plot. Can the society be dissolved? Can Mr.B buy flats in the society and the society can still exist with less than 10 members?
n v sudhakar
04 June 2010 at 11:58
Ours is a service industry registered under Service tax. While providing services to our clients we use some packing material. To save cost, we procured a corrugated manufacturing machine, and making corrugated cartons on our own by buying craft paper. While billing to our clients we do not show packing material cost separately i.e, our billing includes packing material cost. we are paying required service tax on these billings.
Now the query is whether the above comes under manufacturing and whether we need to take central excise licence and pay excise duty? If yes, how to calculate the assessable value. Again if yes, whether we need to pay both central excise and service tax on a single service?
N V SUDHAKAR
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BUSINESS AUXILLARY OR BUSINESS SUPPORT
Whether loan documentation and evaluation services provided by DSA/DMA of Banks falls under BAS or it falls under BSS. Also whether these services would not get benefit of basic exemption under notification 6/2005, being branded service. A quick response from Experts is eagerly awaited.
Also please quote the relevant citation, if any, on this matter.
Thanks in advance.