I am working in a Pvt. Ltd. Co.My CEO(85% shares) wants to purchase a flat worth rs.5.25 crores and for that he wants to give 30% i.e. Rs.1.50crores in cash,rest amount would b financed for which 20%DP i.e.70 lakhs to b paid.My CEO want to withdraw 1.5+.70 crores from CO.My CO. enjoying CC limit for working capital.How it can be done?

Dear Experts
I seek your help in resolving a query of mine:
I have availed home loan for an underconstruction flat in Jaipur in 2010. I have been paying pre-EMIs since then. In Oct 2012, possession has been granted. Questions:

1. Will possession be deemed after getting registry of flat done? Bank is asking for registry. But, I can only get registry done in March.
2. If registry is done in March 2012, can i get full interest benefit (1.5L) while filing IT return of FY? Interest of FY 12-13 is approx Rs 1.5 Lacs.
3. Total Pre-EMI Interest is Rs 2 Lacs (until March 2012). Can i add Rs 40K (2L/5) in current year interest to get deduction of full interest & Pre-EMI (i.e. 1.5L+40K)?
4. I live in Mumbai. Can i still show this flat as self occupied and not add notional rental income in my IT return?

Looking forward to your kind help. Thanks

My uncle is into retial trade.
his gross sales last year was around 14 lackhs.He wants to file his return for ay 12-13 now.
since he is eligible for 44AD.
he wants to claim higher propotion of income around 20% of his sales.

in that case how much tax he has to pay and penalty interest if any for late filing also please tell which form nos to be used.

also pls tell tax liablity if wants to show income @ 8% only.

i want to know that in case of service with partial reverse mechanism like in case of security service the service provider will have to show full service tax amount in his invoice

Sir,
please suggest me what to do in following matter :
F.Y: 11-12,
Income only from salary having more than 10 Lakhs needs to file online e-return in ITR 1 and which is also mandatory, but have been filed manually. Now what should i do?
Please guide me.
Thanking you.

What is the Rate of Tax for Alluminium fabrications under KVAT Act 2003 and also I want to know Composition rate of Tax for this what is the service tax amount we need to collect on this, how to calculate the service tax

I would like to ask if a sole properitorship firm has taken shed on rent for 5 months and paid rent aprox.rs.10000 but the owner of shed didnt give any receipt of such rent paid. I would like to ask whether such expense incurred can be claimed as an expense?

Thanks to all experts for solving our querries immidiately.

CST payable Rs. 6 lakhs, Input Tax Rs. 10 lakhs & Output Tax Rs. 5 lakhs. What is the tax liability?

What is "one person company"? I did not understand it. Please give explanation with example!

sir,
i want to know that in case of service with partial reverse mechanism like in case of security service the service provider will have to show full service tax amount in his invoice or he has to show only that part of service tax that he has to collect and pay. suppose gross service is of Rs 100 and service tax(100%) is 12Rs than total invoice amt will be 100+3(12*25%) or 100+12=112Rs. briefly explain the layout of invoice.