PARTNER REMUNERATION U/S 40(b), HOW TO CLASSIFY IN PARTNERSHIP DEED, SO AS TO AVOID DISALLOWANCE IN SCRUTINY ASSESSMENT

Dear Sir/Madam

I am very confused about reverse charge mechanisum of service tax. please clarify is it only applicable to those who take set off of service tax ? If we are not taking set off service tax, should we liable to pay the 75% ( 9.27 % ) service tax directly to the government on the bill of security charges.

Respected Experts

Please clarify: A Private Limited Company having paid up share capital of RS. 20 Crore made Interest free loan of Rs. 1 Crore to its Group Concern.

Please clarify whether Interest free loan allowed as reference to Companies Act, 1956 and Income Tax Act, 1961

Hi everyone
I am a director of a private limited company, in the company there are 3 directors and shareholders. One of the directors has misused the powers and shared the confidential files for his personal profit outside the company to the third party. The confidential files was given to our company by a USA based company under non-disclosure agreement to execute the project. The director has agreed the mistake done by him. The other two director want the guilty to be removed from the company but the guilty director is not ready to give the resignation. I want to know how to remove the guilty director without his wish, the guilty director has 20% of shares of the company which he is ready to sell to another person and remaining 80% shares are there with other directors. After the removal of the guilty director from the company, in future the guilty director should be responsible to any problem and losses arises due to leakage of confidential file even if he is not the part of the company.

Dear all,
A stationery shop, paying freight for the transportation of stationery items.
(This is a partnership firm)
Whether the said firm liable to pay service tax on GTA bills?

Thank you

Dear Experts

How many ways to rectify negative cash balance, Suppose negative cash balance rs 1000000 in 2010-11 financial year. how to rectify, still i am not filing returns to dept

Dear Expert,
can u pls tell me that what is Form - 704. Who has to file this Form is compulsory ?

Dear Sir,
I claimed exemption of Long Term Capital Gain u/s 54 in my income tax return filed in July 2011.The property was sold in Dec.2010.But now i want to sell my newly constructed house due to shortage of funds.Please guide me if there are any Govt. Schemes where i can invest my amount of Short Term Capital Gain to save Income Tax.
Thank you.
Arun Sharma

Hi experts

Please check the income statement for the year 2012-2013 & tell me what is the tax liability.

Salary& allowance 180000
Commission 100000
Short term
Capital Gain 30000
Interest on FD 25000
Total 335000

What will my tax liability.My doubt is that what is the tax liability on the short term capital gain ( realized from mutual fund trade not through stock exchange)

Regards

Rajesh

Please let me know due date for filing claim of duty drawback on Re-export of imported goods.