Sir, Our unit is presently enjoying income tax exemption under the governments scheme for develeopment of north east india. We are also availing sales tax exemption under the tax emption scheme of assam govt. Sales tax exemption scheme is such that we are allowed to charge sales tax on our product from our buyers and 1 per sent of the collected tax amount has to be remmited to the sales tax department. Here I would like to enquire whether the remaining tax which is collected by us will be treated as other income and will be taxable as other income or business income by the income tax authorities

my client case is running under FERA for levying penalty. my client did not file return because he said that if he files return and disclose property, then enforcement officer will inquire to income tax department regarding property details. so kindly tell me that under old FERA, said officer has power to ask and attachment of property? or is there any solution?

respected sir, my client has deposited a money in saving bank account at different point of time which he earned from selling of shares. he acquired shares in 1992. deposit has gone in excess of Rs.10,00,000/- he also withdraw amount at different point of time. so kindly tell me whether in case, if it is selected for scrutiny, whether ITO can ask about withdrawal that for what reason withdrawal has been made. he also did not disclose shares which acquired in 1992 in his return. whether he has any power to ask?

hi freinds...pls resolve a query..
when a work contract dealer will be eligible to take compulsory regn, under dvat & wat will be tax rate charged if he dont choose composition scheme..????

please any one ans. me proper defination of accounting and social audit.

Dear All,

Kindly guide me the following case.

"M/s A Ltd" - Foreign Company
"M/s B Ltd" - also Foreign Company
"M/s C Ltd" - Indian Company

Shares of "M/s C Ltd" held by "M/s A Ltd" which sold to "M/s B Ltd".

What is the TAX implication in India in the hands of C ltd ?

Indian Company shares sold by one foreign company to another foreign company, what is the tax implication in the hand of Indian company?

Thanks in Advance

During income tax scrutiny of an assessee in SEZ for assessment year 2010-2011. The assessee claimed exemption u/s 10AA in ITR 6 instead of 81-IC. The mistake was detected and letter is given to Assessing Officer. My querry is that can an assessing officer accept this error by a letter given by assessee. If yes than if there any high court or supreme court ruling. I will be thankful for an early reply.

A firm ABC is given job contract for operation of petrol pump by a oil company. ABC purchased material from that oil co. at market selling rate (means selling rate to customer) to sale in market. It gives monthly sold stock details to oil co. to get his profit margin in form of remuneration. The co. was reiumbursing the same after deducting TDS. My question is that will service tax is attracted on this transaction?

The purchase bill from oil company are in the name of firm. the firm purchased the stock say @75 rs per litre and sold it on 75rs per liter. every other regular dealer is also getting the same differnce as profit as we were the only diff. is that they get their margin on sale and we have to get reiumburse from the oil company.

ssi exemption benefit is avaialable to the firm in thii case?

is photo developing and photography services liable to service tax.wheather there are any deductions available from gross receipts.
please reply over pr_sahane@yahoo.com
Thanks
P R Sahane

kindly confirm me,
is there any fixed deposit receipts or current account can use for trading with best interest rate?

if can, is it fully legal?