An indian co demerges into 2 entities by transfer of assets at book value. Section 47 exempts such transactions from capital gains.

One of the demerged entities transfers all such assets to an overseas SPV.

Will this transfer be tax exempt, though SPV continues to be wholly owned or 75%+ owned subsidiary of the demerged company.

Pl comment with references to the case laws.

An assessee hold terrace rights of a residential house property in Delhi and during the F.Y. 2006-2007, he sold such terrace rights. Out of the sale proceeds, he purchased three flats in a residential complex at Mumbai. One flat on 6th floor, second at 7th floor and third at 9th floor. He converted flats at 6th & 7th floors in a duplex flat and have a combined registry for both flats. He have a separate registry for third flat. All these flats are self-occupied for his residential purpose. My query is that whether he can claim exemption u/s. 54F claiming all these flats as a single residential unit?

If I make payment to Advertising Agency in Foreign country to advertise my product in their local magazine, am I liable for TDS?
Ad. agency has no PE in India.

What is the liability of co. in regard service tax and tds on freight inward and freight outward.

if a co. paid freight to transporters on behalf of another co. then the co who made payment to transporter is liable to deduct tds.

i want ot know from where exactly we have to calculate 8 kms for the purpose of calulating cpaital gains in respect of agriculture land

please provide me the notification in respect of urban areas notified by the govt

Does Sec 40A(3) apply to acquisition of fixed assets on which depreciation is claimed.

Cost of the asset is not climed as expenses but only the depreciation is claimed.In such a case what should be reported in tax audit report.

In Taxman's ready reckoner 2008-09,in Page A-109 in para 49.3.3 it is mentioned that Sec.40A(3) is applicable if an assessee purchases a depreciable asset.

Kindly clarify.

An assessee has incurred car expenses of Rs.40000/- in cash and disallowance is made as per the provisions of Sec40A(3).
Should FBT be paid on this amount or not?

Experts opinion is sought.

Does Sec 40A(3) apply to acquisition of fixed assets on which depreciation is claimed.

Cost of the asset is not climed as expenses but only the depreciation is claimed.In such a case what should be reported in tax audit report.

In Taxman's ready reckoner 2008-09,in Page A-109 in para 49.3.3 it is mentioned that Sec.40A(3) is applicable if an assessee purchases a depreciable asset.

Kindly clarify.

should tds be deducted on total payments(including service tax) made to service providers
or

the service tax amount be excluded from the total payments made for calculation of tds

regards

thanks

vishnu