Whether the assessee who books a flat with a builder, and the builder promised to deliver within two years, now, that has not happened, because of certain legal hurdles and recession,, however it should hopefully, be completed within three years. Do I continue to enjoy, the long-term gain exemption, even if it takes three years?

Adolf Pinto, Mumbai

Sir,


If a company in Inda has to make payment to a liasoning officer in Iran, whether the company in India has to deduct tax at source on the payment so made?

The client is doing emboidery jobwork on cloths and raises bill of jobwork. He purchased a new embroidery machine during the year, whether he is eligible for additional depreciation on new embrodiery machine purchased during the year.

If sales tax is not routed through Profit & Loss A/c and shown in duties & taxes, whether sales tax payable will be disallowed if not paid before filing return?

What is the exact period of Industrial Training for an articled assistant-9 months or 12 months?

Whether an articled assistant can opt for industrial training merely after intimating the principal three months in advance?

What are the remedies available for an articled assistant if his/her principal employer is not allowing him/her to join industrial training?

Please reply to the earliest...

Thanks & regards

Shubham

A Ltd, B Ltd and C Ltd are companies registered under companies act, 1956.

A is holding company of B and B is holding company of C as at 31.3.09.

on 30.6.09, B ltd sold C ltd to A Ltd.

How will the Company present the same transaction while preparing Consolidated financial statements (CFS) of BLtd as at 30.6.2009.

Should it consider the results of C ltd upto 30.6.09 in its CFS?

What is the logic of computing Profit/(loss) on sale of subsidary in CFS ( AS per AS - 21).

My friend's refund is prending for the AY 2007-08. He has been visiting the dept since the last 4 months/ The refund cheque is ready and has also been shown to him. But they are asking more & more details & photocopies of his tax returns. He was an expat (NRI) for that AY and the refund amount is huge.He gave them the photocopies etc . Today( i.e after 15-20 visits to the IT dept ) they tell him he is not obligated to come but his company should come to claim the refund.He got wild & blasted the ACIT.He has quit that companu two yrs back so obviously he cannot ask them to come.I want to know the foll things.
1. Can i represent him in front of the ACIT(I have completed my CA inter)
2. if yes what documents should i submit
3. can i approach the Commissioner directly?
4. Can u give me some suggestions to claim the refund back now that he & he ACIT have fought.

My Employer is not giving me PF amount, since I hadn't survived 3 months notice period. Can i get the amount by filling up Form 19,10C and directly submitting in PF office. Is their any chance that by doing so the employer can give me any kind of Legal Notice for not surviving or settling the amount of Notice Period they asked for????

Hello Dear Friends,

We are purchasing one company (RAj Pvt ltd) by aquiring his all shares and after that we will sale it to third party.
After this transaction the company will make profit and i think that same will be taxable under CG tax.

We also winding up that means our (Sunraj
pvt. ltd) company by paying the all third pary liabilities and return of paid up.
After the paying above there will remain surplus amt with company so

wht shall i do of that surplus?
Can i distri it to shrehold as dividend ?
if yes wht is the tax procedure and rate of the same.

Plz reply
waiting.....
CS Sandip Rahane

Pls let me know the accounting treatment of mining right acquired by Coal mining company in its books of a/c.

Whether it should consider the same as Asset?
If yes, then should it be considered as fixed asset or intangible asset?

How should the Company amortise/depreciate the same?