[aaggoswami]

Originally Posted by CDM

@aaggoswami, situation is not as bad as it seems to you. Have sent you a PM. Feel free to contact. Will gladly accept an ice cream at Dairy Den on my next visit to Baroda as fees.

CDM

Cant Thank You Enough !
Would be nice to meet you!

Originally Posted by aargee

1) From an outsider point of view, receiving a copy of the doco is up to you; like I said, corp is not mandated to hand over a copy (like police has to give you a copy of FIR), but you can always ask them & THEY ARE supposed to give you.

2) So you see, the HR is paid to do his work (negotiate with you), advocates are paid to handle you in court, but you?? You've to spend your time & money to fight this off & in the process you lose your peace of mind & time. Forget the money for now.

Your objective right now should be...
1. Settle things amicably like you don't pay, I don't pay & I'm sorry for what I did
2. If #1 didn't work out, say you can work for them for reasonable time & settle the amount
3. If #2 didn't work out, start with the smallest denomination (say like if you're supposed to pay 2 Lakhs, start with Rs 2000 or so)

1) Bone of contention for me, but shall try to negotiate.
2) Absolutely true. Will try to negotiate. Else reply to notice giving offer to join and pay the amount. That should help.

[aargee]

Originally Posted by aaggoswami

2) Absolutely true. Will try to negotiate. Else reply to notice giving offer to join and pay the amount. That should help.

Yes & please don't throw all your options in one go & ask them to choose. Take your time in hours or even days to respond in throwing those options & use them well. Pls don't it too serious (I know easier said, but still), keep your focus always to get out of this problem & move to your next priority in life.

Good luck.

Sharing another incident on dirty tricks played by lawyers

In 2012 we had a colleague who was very jovial & appeared good with everyone. He once asked me if he can include my name in a personal loan he's availing to which I said yes. I was determined not to sign anything & nothing of that sort happened.

By 2014, he left the job with his whereabouts unknown. That is when things started getting ugly. Every week (and to this date) I keep getting phone calls from HDFC, ICICI & another bank which I don't remember, asking if I know that colleague. I always state the truth that, I knew him as colleague & he has left the company with his whereabouts unknown & if I get to know will let know the bank.

Funny part is in 2014, I got a call from a person who introduced himself as legal lawyer for ICICI. He initially talked smooth asking me to reveal (as if I was hiding my colleague) my colleagues location as he had taken 15L loan & disappeared. At one point when I showed frustration, the lawyer said I might have to witness the court & started saying unpleasant things on court hearings. When I asked him why I should visit the court he said, I've made a guarantor's sign.

One moment I was shocked & felt I made a mistake, but Thank God, I was conscious enough not to fall for it & say with confidence that I haven't made any such signature & even if it were, it was a forged one as I don't have a principle to sign for anyone unless they're my Parents or close relatives, let alone friends & in this case it's a colleague after all.

Soon the conversation ended & I approached our director who knew this colleague as we were all old timers to talk about this situation. He laughed out loud & said he used to get such threatening calls for the same reason as the colleague who left had borrowed huge sums from 3-4 different banks & have given different references at each place & now everyone is having gala time answering those collection agencies. And the person who might've called may not be a real lawyer at all in first place.

So point is, just relax & approach your previous employer with a mindset to close things smoothly & without stating the obvious of taking things to court or paying them. Try to find some smooth alternatives & settle things.

Good luck man

[CDM]

• Your not having a copy of the bond is of no consequence if you admit that you have signed the same.
• Bonds executed by employees are not open and shut situations which the employer can always enforce.
• Not sure if you would be covered under provident fund. Was PF specifically a deductible?
• Do not be afraid of Courts and lawyers. Not all are bad.
• Remember going to Court against you is also going to cost your ex-employer money and even they may not be keen.

.

CDM

[aaggoswami]

Update from my side.

Went ahead with meeting.
At one point verbal commitment failed too.
But, all said and done, its settled with a verbal commitment that no further legal action will be taken.

Also, I will getting all documents by 22nd of next month.

I must wholeheartedly thank CDM. Words aren't enough to justify his advice. It helped me bring "criminal charges" to a solution which the HR had to itself suggest.

Shall keep all things posted in this thread.

[fine69]

My wife runs a small garment manufacturing business (sole proprietorship) with 18-20 workers and we got it registered (TIN) last year in Feb 2016. We've had her CA cousin do the VAT filing piece till now and she charged us ~22k (for a year).

Just out of curiosity I enquired the rates on UrbanClap and realized that there are CA firms doing VAT filing for 1500-2000 per quarter.

I wanted to check that for a small business (turnover less a crore right now) what kind of fees is reasonable to be paid to a CA. Requirement is VAT filing mainly but we definitely need help on how to avoid tax and usually end up looking to our CA for advice.

[Samurai]

A quick question.... If a vendor provides free service to a customer in return for an interest free loan returnable after 2 years, what are the tax implications for both sides?

[Nonstop-driver]

Originally Posted by Samurai

A quick question.... If a vendor provides free service to a customer in return for an interest free loan returnable after 2 years, what are the tax implications for both sides?

The Vendor is trying to discharge his tax liability. Sort of a tax evasion. Will get nasty if picked up in assessments.

[spookey]

Originally Posted by Nonstop-driver

The Vendor is trying to discharge his tax liability. Sort of a tax evasion. Will get nasty if picked up in assessments.

Possible. This arrangement is best avoided. If vendor's IT return comes under scrutiny , Income tax officer will 100 % consider this interest free loan as vendors business income and levy taxes + penalty.

[fine69]

What is a lawyer/CA's opinion on selling a property in today's real estate market. I'm asking from a scrutiny perspective, especially after demonetization.

We have a house that we were thinking of selling but my father is a little anxious citing that any real estate deal is getting heavily scrutinized today (as per our CA) and its best to avoid any deal for a while now.

If the deal were to happen it would happen much below the circle rate because circle rates in that area are way too high compared to the actual market rate. What advice would a CA/lawyer on this forum give me?

[Samurai]

Originally Posted by Nonstop-driver

The Vendor is trying to discharge his tax liability. Sort of a tax evasion. Will get nasty if picked up in assessments.

Originally Posted by spookey

Possible. This arrangement is best avoided. If vendor's IT return comes under scrutiny , Income tax officer will 100 % consider this interest free loan as vendors business income and levy taxes + penalty.

Wow, I was not asking how to evade tax. Rather, how to calculate tax for free services rendered.

Company A does debt investment in company B.
Company B does free services to company B during the debt period.

Obviously, this free service must attract notional service tax. How do they assess it?

[Nonstop-driver]

Originally Posted by fine69

What advice would a CA/lawyer on this forum give me?

Not an expert on real estate transactions, but if your deal is paid through banking channels, there is nothing to worry about. Just show the gains/ loss in your tax return and even if it is scrutinized, you need to show your cost of purchase and sale receipts.

Originally Posted by Samurai

Obviously, this free service must attract notional service tax. How do they assess it?

No idea about indirect taxes but this setup evades income tax.

[Samurai]

Originally Posted by Nonstop-driver

No idea about indirect taxes but this setup evades income tax.

How? It is debt which has to be paid back in 2 years.

[girimajiananth]

Originally Posted by fine69

Requirement is VAT filing mainly but we definitely need help on how to avoid tax and usually end up looking to our CA for advice.

VAT filing is quite easy, atleast in karnataka. I used to file VAT returns for my dad when he had his factory.

[Nonstop-driver]

Originally Posted by Samurai

How? It is debt which has to be paid back in 2 years.

If Company B is providing a service against repayment/ interest portion, the debt will/ should be considered as its turnover. It's pretty straightforward, isn't it?

[spookey]

Originally Posted by fine69

What is a lawyer/CA's opinion on selling a property in today's real estate market. I'm asking from a scrutiny perspective, especially after demonetization.

I am not a lawyer/CA but scrutiny should be the last thing you should be worried about in a property transaction. Primary concern should be if you need the money urgently and / or if you are getting the right price for your property.

Even if your deal comes under scrutiny you will receive a "limited scrutiny " notice and inquiry will be limited to that property transaction & other transactions reported under AIR if any. So if you pay / reinvest you capital gains according to prevailing IT laws nothing will happen even if you face a scrutiny, so don't worry about it !

Only downside in your case is if you sell below circle rates your capital gains liability would be higher as it will be calculated according to prevailing circle rates only. But if you are planning to re invest all the capital gain in another residential property within 2 yrs after selling it shouldn't matter.