dear sir,

how to entry in tally TDS on fixed deposite interest, with ledger and group also mentioned

If the registered firm has paid AMT in fy 2012-13. & has a AMT Credit carried forward of rs. 1000000/-.

If in the Next year ie. fy 2013-14,it has no exempt income u/s 80IB but taxable income on which tax comes to rs. 400000/- as per normal prov.of tax.

Whether prov. of 115JC apply in the fy 2013-14, whether firm can set off its AMT Credit against the tax as per normal prov. of tax?

Thanks in advance

Can I do my Industrial Training in the unit of a company? That company is approved by ICAI for Industrial Training and the unit is not preparing its own Balance Sheet, rather it gets merged with the Balance sheet of Main company.
Name of Main Co. : Century Textiles & Industries Ltd
Name of Unit : Century Pulp & Paper Mills

I'M INTO MY SECOND YEAR OF ARTICLESHIP I NO MORE WANT TO CONTINUE MY CA FOR PERSONAL REASON CAN I CONTINUE MY CA IN FUTURE AFTER 4-5 YEARS? WILL MY ONE YEAR OF ARTICLESHIP BE CONSIDERED THEN?

CAN FULL TIME EMPLOYEE CA, BECOMES REPRESENTATIVE BEFORE INCOME TAX AUTHORITY OR OTHER DEPT.

If a religious trust carries on a commercial activity which will have a turnover of more than 25,00,000/-, will the profit from such business be exempt provided it is registered under 12AA

Respected Sir / Madam,

A Public Ltd. Company has not deposited the Unclaimed in the Investors Educatio & Protection Fund as per Section 205 A of the Companies Act, 1956..

Any Penalty in the Above case...???

Mr. A while in employment of an Indian subsidiary (XYZ Pvt. Ltd.)of foreign company (XYZ Inc, USA) received Stock Options of XYZ Inc. during 2004-05 with vesting period of 3 years.

Mr. A transferred to the parent company in USA

Mr. A exercised the option during FY 2010-11. He was non-resident during FY 2010-11, working in USA with parent company.

There was a gain on exercise of option of Rs. 1,00,000/- (difference between FMV and exercise price. There was no capital gain since it was a cashless transaction and stocks were transferred at the time of exercise only.

Ordinarily, had Mr. A been a resident in India and an employee of XYZ Pvt. Ltd. upto the FY 2010-11, the total amount would have been taxable as perquisite under salary.



Facts to be considered:
1. He was non-resident during FY 2010-11 (year of exercise)

2. During the vesting period of 3 year - he was in employment of Indian company for 2 years and US company for 1 year. (most important condition)

How would this transaction be taxable in India?

One of my client is manufacturing Cycle & it's related accessories, and he had given some works contract for intermediate inputs which were used in the manufacturing of final product, but the service provider is not charged any ST on works contract.

My Doubt is whether this transaction fall under ST-Reverse Charge purview, if yes how i can account this transaction and what's the percentage of ST payable by our client.

A Ltd. produces wind energy which is not excisable. For production of wind energy, it requires Wind mill.
A Ltd. engages job worker, B Ltd., for manufacture of wind mill and supplies all the necessary raw materials to B Ltd. for manufacture of same.
B Ltd. undertakes the job work and does the necessary fabrication and manufactures the components of wind mill & erects & commissions the wind mill at the site of A Ltd.
Wind mill is exempt from Excise Duty vide Notification no. 12/2012-CE.
I understand:
No service tax is payable on ‘any process amounting to manufacture or production of goods’ by job-worker, as that activity falls under the negative list under Section 66D (f) of the Finance Act, 1944. Also, Sl. No. 30 (c) of notification no. 25/2012-ST dated June 20, 2012 exempts ‘carrying out any intermediate production process as job-work in relation to any goods on which appropriate duty is payable by the principal manufacturer’.

In view of the above, kindly advise whether B Ltd. is liable to pay service tax