HOW TO CALCULATE TDS ON INTEREST?
FOR EXAMPLE:-TDS DEDUCTED ON 30/07/2012 AND PAID TO GOVERNMENT ON 03/12/2012 FOR RS 10000.THEN,WHAT WOULD BE THE AMOUNT OF INTEREST.PLEASE SHOW ME THE CALCULATION ALSO.

Dear Experts,

If a person transfers a capital asset (Land)to a Company as Capital Contribution in which he proposes to become member, then whether such transaction is to be chageable to Capital Gain in the hands of Person (Transferor)?

The Provisions of Section 45(3) of the Income Tax Act,1961 inter alia states as under:-

"The profits or gains arising from the transfer of a capital asset by a person to a firm or other association of persons or body of individuals (not being a company or a co-operative society) in which he is or becomes a partner or member, by way of capital contribution or otherwise, shall be chargeable to tax as his income of the previous year in which such transfer takes place and, for the purposes of section 48, the amount recorded in the books of account of the firm, association or body as the value of the capital asset shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset".

Here, the law maker has emphasized on "not being a company or a cooperative society"

Please reply to this issue urgently...

Hello Friends

Our is a private Company and the Company wants to alter its object clause. Company is running its business with which it was established but now the Company also wants to start some new business for which object clause is required to be altered. I just want to clear that can company run its business in two different variety of business under same company by just adding the other object clause in main object.

Is there any need for change in the name of the Company?

Dear Members,

Recently,while doing tax planning (2012-2013) for one of my client, I came to Know that during the financial year 2011-2012 she has mistakenly availed deduction us 80c for investment in KVP. If she had not availed she was liable to pay tax.

Can deduction claimed be shown as income in this year and correspondingly do the extra investment for set off.

Please advice if I am correct.

Thanks
Rohit Agarwal

L.I.C Paid by Mother for children who are not dependent upon her can get exemption to mother under 80C

Hi all,

1 Can anyone tell me what is works contract tax???

2 when is it leviable???

3 its rate??

4 and how is it different from TDS??

Do we need do deduct both i.e TDS & WCT from a given transaction.

If the total turnover of SSI unit say is 2 crores which includes one crore of export sale of manufactured goods, fifty lakhs of domestic sale of manufactured goods and remaining 50 lakhs of trading of goods, should the unit get it registered with Excise department as the total value of sale of manufactured goods both for export and domestic market is 1.5 crores or should the unit get it registered only when the value of sale of manufactured goods in domestic market is 1.5 crores? Thanks for your guidance.

We are Manufacturing Pet Flakes from Pet bottles.
Pet Flakes will be used by our customer to make fiber.
Can anybody let me know, Whether "Making Pet Flakes from Pet bottles Through Various Watering and dewatering processes" is liable for excise duty???
If Yes, then Is there any exemption notification to make it Exempt from excise duty???

Dear Experts,

I have a doubt about the industrial training that i will complete my 2nd year of Article by Aug 2013.

But i want to join the industrial Training by Apr 2013 as i got a call from XYZ co.

Kindly let me know the same as early s possible.

Thanks
Vishal
P.No.09700242291

plz tell m about escrow accounts
what is escrow accounts and why we need for it and what is the accounting treatment for it......?

plz give me answer...........Anshu