1.What is the difference between a notification and a circular?
2. What is the difference between a negative list and a mega exemption notification?

an assessee has sold house property within 5 years of purchase. his housing loan prinicpal amt is taxable as mininmum period of holding is 5years.
what about interest - u/s 24, can it be claimed under incoem from house property in year of sale

when tds is deducted on rent

COA:5 lac (1990)
Advance recv and forfeited: 10 lacs (2014)
What shall be its treatment in B/S as per income tax ?

Dear Sir Is there any restrictions if trust received cash more than Rs.10000/- what are the implications if trust received more than Rs.10,000/- By Cash Please provide me if any circulars in this regard. Thanks in advance.

Hi
Friends

How to close the entry

invested in a company of Rs 1,00,000/- (i.e 10,000 shares).

but the company was closed without paying any amount of share capital.

then how to close the share capital amount invested in that company.

In Service tax under Reverse Charge machinism it is said
" in respect of any taxable services provided or agreed to be provided by any person who is located in a non-taxable territory and received by any person located in the taxable territory"

my query is " as per service tax non-taxable territory means J&K and other than Indian territory. so in this section is there any exemption because if not, then all services will be taxable from foreign countries. or we should pay service tax on all services from foreign countries?"

M/s XYZ Pvt ltd co is carrying on trading business. The company has entered into contracts with online portals like Flipkart, Peeper fry etc. The sale transaction is as follows:

1. Customer order for the product using online portal say flipkart.

2. Flipkart intimates about this to M/s.XYZ Pvt Ltd.

3. M/s XYZ delivers the product to the customer via Flipkart's delivery team.

4. Cash is collected by Flipkart.

5. Flipkart deducts a commission of certain percentage and remits the balance amount to M/s. XYZ pvt Ltd.

Query:

1.Does the Commission paid by M/s XYZ Pvt Ltd to Flipkart attract provisions of 194H.

2. If it does so, how should it comply if the commission is entirely deducted by flipkart.

Dear Sirs,

I was in government (PSU) job and I retired on 30th November 2012. After retirement, I joined a private company on 26th June 2013 as a consulting engineer. From my present employer, I receive the payment of my consultancy charges of a particular month in the first/second week of the following month. Thus, I will get the payment for my consultancy charge of March 2014 in April 2014. Please clarify my following doubts:

1. Whether the payment received by me in the month of April 2014 will be considered as my earning of FY 2013 - 2014 or FY 2014-2015?
2. My total earning as consulting engineer is Rs. 1022000.00 till now (26 June 2014 to 28th February 2014). So far, I have not claimed Service Tax from my present employer despite my payment term for "Service Tax extra" by my employer. I wish to know whether I am liable to pay Service Tax to Government? If so, on which amount, Service tax will be applicable?
3. If I do not receive Service Tax from my employer, who will be liable to pay the Service Tax, myself or my employer on my behalf?
4. If I receive Service Tax from my employer, whether Income Tax will be applicable on the total amount including Service Tax or excluding Service Tax?

Dear sir,
In response to the filing of Incorporation documents like form 1,18,& 32. The roc has marked resubmission stating that “Pl.furnish the NOC and also affidavit. Form should be resubmitted by 12/04/2014 failing which the eForm shall be treated as invalid and shall not be taken on record. (Please refer Regulation 17 of the Companies Regulation, 1956)” and asked for resubmissing of form 1and 18.

For further information:
1) The Form 1A is fill by 4subscribers to moa A,B,C & D where the applicant is mr.a
2) But the Form 1 is sighned by Mr.B and we included an other person to the subscriber Ms.E
3) For the Proof of address for register office we attached eletricty bill in the name of M/s B a propritory concer wich is taken on lease by Mr.B

Please suggest me to go ahead with the re-submission

Best regards,

Narasimha