LIC policy is in the name of Mr X.
Mrs X wants to take benefit of the premium paid by her on the above policy.
Premium receipt is in the name of Mr X.
Is it allowed U/S 80C?

I wanted to know the rectification procedure of 15CA already uploaded or solution if wrong information has been uploaded in 15CA.

Dear Sir,
I have come across an issue regarding TDS deduction on Service tax under RCM. The detailed quire is as below:

The contract with contractor (handling contract) was entered into before RCM came into action. as per contract, nothing has been mentioned of any additional taxes which comes into being in future. So the ST component under RCM payable by Service receiver becomes expense for the service receiver , i.e. unrecoverable from service provider.

EXAMPLE:
contractor monthly bill : ₹40000 (nothing mentioned about ST)

company deducts TDS on ₹40000 : ₹40000*2% = ₹800. And pay Contractor ₹39200

company pays ST under RCM say, ₹3708 in contractors ST registration no. and charge it to expense GL.

Now, my quire is about TDS to be deducted.

1. (40000 + 3708)*2%

OR

2. 40000*2%

which of the above is correct.

we had made export under duty drawback and we had yet not recd the amount of duty drawback can we transfer the qty export to advance licence scheme

My friend bought one plot in the financial year 2008-09 by SBI Bank Auction for an amount of Rs.10,40,000 and sold the plot on the same day for an amount of Rs.15,00,000/-. The Guideline value for the plot on that day was Rs.23,02,000/-. Now he received a notice from Assessing officer that levy tax on the amount Rs.23,02,000 - 10,40,000 = Rs.12,62,000/- u/s.50C. Is there any provision to reduce tax and whether the tax liabilty fully attract interest u/s.234 A,B,C till date? Kindly help me to resolve the same.

what are steps are required to follow to convert a pvt. Ltd in LLP,

Dear Experts,

Please let me know whether the due date of filing form - 23B is counted from the date of AGM or from the date of intimation to the auditor.

Suppose,
Date of AGM - 29.12.2012 (First AGM)
Intimation to Auditor - 4.01.2013 (within 7 days of AGM)

In this case, what should be the due date of filing Form-23B?

Thanks & Regards
CA Milan Agrawal

Dear Sir

We have received a order from from m/s X and who is the Main contractor on this supply and we are the sub contractor Y and supplying the material directly to Z on behalf of m/s X.

Kindly confirm what is the process to be follow for getting the benefit of deemed export.

We are Merchant exporter star export house in Agro commodities like sugar, rice, wheat, wheat flour, sorghum, millet etc. Recently we have exported grain sorghum in loose bulk (ITC HS Code 10070090. (for which draw back schedule shows 1%) we have filed s/bills accordingly. But drawback section raised query that "Plz explain claim as no packing material used" In reply we sent them drawback schedule chapter 10 xerox. In reply Deputy comm. sent one letter asking us that drawback means "drawback in relation to any goods manufactured in India and exported means the rebate of duty & tax as the case may be. Further he asked to explain the custom duty suffered in the manufacturer of the goods exported i.e. Grain Sorghum. with relevent documentary evidence.

Plz give us your solutions for the above matter.

Thanks
Karan Agarwal

A assessee having threee residential house property H1,H2 & H3.The assesseee resides in H1 and the reamaining two houses lying vacant under his control.He subsiquently tranfers the H2 and puchases H4 with sale proceeds of H2 and thereby claims exemption u/s 54 to avoid tax liability.can he do so?