We are manufactures of commercial vehicles and we are importing materials which will a part of our finished goods, can u tell us whether we can set off all customs duty and we already registered with Excise/Service Tax etc., and this is newly setup company.
From:
V.Arunachalam,
New No: 30/Old No: 13,
Subramaniya Swamy Koil Street,
West Chinthamani,
TIRUCHIRAPPALLI-620 002.
Tamil Nadu
Mobile: 9790971353
E-Mail: arun28@rediffmail.com
To: Querry Section,
CA ClubIndia.com
Dear Sir,
Reg: Taxation of gains on Intraday trading (without delivery) on Shares.
***********
I am a pensioner aged 62. My annual income by way of pension and other interest will be Rs.1,70,000/-.
I have also invested in Shares and Mutual funds as a long term investor. But occasionally 4 or 5 times in a year I wll be doing intraday trading in Shares and earn small gains around Rs.3000/-. I want to know how this gain will be treated for
tax purposes. Will it be clubbed along with my normal income and taxed according to my slab rates? OR will it be taxed separately at a special rate even though I may be having other income including my pension, interest etc., within non taxable limit.
1. What will be the special rate of tax on such intraday trading income?
2. Also intimate me the required ITR Form for me for reporting such intraday trading income? and the relevant section/column under which it is to be reported in that ITR form?
Kindly reply in your web site and if possible to my above E-Mail ID.
Thanking you,
Yours faithfully,
V.ARUNACHALAM.
24-05-2013
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An Indian Resident is to purchase equity shares in an Indian Company from a NRI.
At the same time the NRI is also to pay some purchase consideration to this Indian Resident on account of a current account transaction.
Can this consideration be set-off and only the net amount be paid to the NRI for the purchase of shares.
Kindly also provide a reference of the corresponding circular / section.
Dear Expert,
an Audinting & Accounting Services given by a non CA, comes under which services under Service Tax Act.
please help me.
thanks in advance.
DEAR SIR
WE ARE MFG PVT LTD CO. REGISTERED IN EXCISE & SERVICE TAX. WE ARE DEPOSITING SERVICE TAX ON LABOUR SUPPLY BY A CONTRACTOR, CAN WE CLAIM THE CENVATE OF DEPOSIT AMOUNT ON LABOUR CONTRACT.
THANKS & REGARDS
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Customs duty on imports