Entire Agreement - Draft Clause

This Agreement, the Schedules hereto and the agreements specifically referred to herein constitute the entire agreement among the parties specifically referred to herein constitute the entire agreement among the parties and supersede all prior agreements and understandings, oral and written, among the Parties in connection with the sale and purchase of the Business. In the event there is any conflict between such other agreements and any term or condition contained in this Agreement, this Agreement shall prevail.

Mediclaim Policy - Sec. 80D

1. Deduction for mediclaim premium has increased from 10,000/- to 15,000/- w.e.f. 1st April 2006.
2. A higher deduction up to Rs.20,000/- can be claimed from 1st April 2007, if at least one member in the family is senior citizen.
3. Mediclaim premium should be paid out of taxable income only. Hence the mediclaim premium should not be paid from the LIC maturity amount.
4. The amount is entitled for deduction provided the premium is paid not in cash.
5. Even an employer can claim as expense the mediclaim premium paid for his staff provided the same is paid otherwise than in cash.

Demerger

1. Shareholders holding 75% of the value of share become shareholders of the resulting company.
2. The resulting company issues shares to the shareholders of demerged company on a proportionate basis.
3. Gains arising out of transfer of assets is exempt in Capital gains tax as resulting company is Indian company.
4. Expenditure relating to demerger will be allowed as deduction equally for next 5 years.
5. Depreciation on assets of the resulting company will be calculated based on the number of days for which the assets have been held by the new company.
6. Actual cost of capital assets shall be the actual cost provided it dies not exceed
   
   

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