ABC is an individual . He was allotted a factory land 14 years ago by RIICO . He was using the land for running a factory for manufacturing brass items for exports as a sole proprietor. HE STOPPED HIS BUSINESS 7 YEARS AGO and surrendered sales tax /pf registrations and ceased to file income tax returns. HE IS SELLING THE FACTORY LAND AND EARNING GAINS FROM ITS SALE. PLEASE ADVISE ON :

1.CAN HE CLAIM EXEMPTION FROM CAPITAL GAINS BY PURCHASING ANOTHER FACTORY LAND FOR SETTING UP ANOTHER BUSINESS?
2.HOW CAN HE MINIMISE CAPITAL GAINS TAX?

ABC is an individual . He was allotted a factory land 14 years ago by RIICO . He was using the land for running a factory for manufacturing brass items for exports as a sole proprietor. HE STOPPED HIS BUSINESS 7 YEARS AGO and surrendered sales tax /pf registrations and ceased to file income tax returns. HE IS SELLING THE FACTORY LAND AND EARNING GAINS FROM ITS SALE. PLEASE ADVISE ON :

1.CAN HE CLAIM EXEMPTION FROM CAPITAL GAINS BY PURCHASING ANOTHER FACTORY LAND FOR SETTING UP ANOTHER BUSINESS?
2.HOW CAN HE MINIMISE CAPITAL GAINS TAX?

Dear Experts,
Pl. advice me on following matter :

1) one of our client was operating three taxable businesses from same business but all are below the 10 lac of turnover . Will the turnover of all the three firm should be club together for service tax?.

2) Now our client want to operate new business from same premises or form the resident of one of Partner in the name of Partner. The new business will be run as proprietor ship and the turnover will more than Rs. 10/- lac. But in this case the resident are used by partner wife to run her business which is also taxable service. But the turnover is below taxable limit.
Will she should also apple for registration of service tax once the new business started by her husband cross the limit of 10/-? . She do not want to registered with service tax.

Pl. reply notification if possible.
Thanking you,

Dep on fire extinguishers as per companies act

Sir, I had filed the tds return of 1st qtr of 2013-14, in which i had mentioned the deductee name with tax but he was transferred from office, now i want to delete the name amount and tax amount in correction statement
but deletion is not taking place. Let me know how to rectify the mistake and decrease the default demand .

it is compulsory to deduct TDS?

HI, EXPERTSJI, MY QUERY IS MY CLIENT HAS LOST THE ORIGINAL TOKEN NO. OF F.Y. 2009-10 OF EACH QUARTER AND THERE IS SOME PAN ERROR IN THAT YEAR SO I HAVE TO REVISE THAT YEAR STATEMENT BUT WITHOUT HAVING ORIGINAL PHYSICAL TOKEN NO. THE AUTHORISED PERSON OF NSDL REFUSED TO SUBMIT THE RETURN SO WHAT CAN I DO FOR THAT??
PLZ TELL ME IM WAITING FOR THAT!!!!!PLZZZZZZZZZZ

A MANUFACTURING CO RECEIVES SERVICES ON TRANSPORT GOODS OUTWARD . CAN THE COMPANY TAKE SERVICE TAX CREDIT ON CARRIAGE OUTWARD.
PLEASE ELABORATE AND GIVE THE REPLY.

I WOULD LIKE TO SEEK GUIDANCE ON HOW SHOULD I APPROACH TO MY CA FINAL STUDY. I WILL BE GETTING LEAVE FROM MOST PROBABLY 1ST JUNE 2014.
HOW SHOULD I PREPARE MY TIME TABLE AND HOW MANY HOURS SHOULD I GIVE IN THESE 5 MONTHS?
KINDLY GUIDE ME..

A franchisee has provide service to company and issued invoice of Rs 100000 exclusive of service tax , and submits nil returns so now can the company is liable to pay service tax on the amount for which they recive service from franchisee.

What are tax implications and liability to both company and franchisee ? Does any CENVAT rule applicable here?