Suppose A purchases car in his name and takes loan for it in the names of A and B. Whether both can claim depreciation & interest on loan ? If yes, in which proportion ? please reply with section or any judgement etc.

I AM A PROFESSIONAL. APART FROM MY PROFESSIONAL INCOME I HAVE INCOME FROM INTEREST ON LOANS AND ALSO INTEREST FROM BANK. cORRECTLY IT SHOULD COME UNDER THE HEADING INCOME FROM OTHER SOURCES BUT MY ACCOUNTANT SAYS IT SHOULD BE INCLUDD IN PROFIT & LOSS ACCOUNT UNDER THEHEAD PROFITS FROM BUSINESS PLEASE ADVICE.

If a Non-Listed Pvt Ltd holding comapany has given loan to its fully owned subsidiary company and it exceeds RS 10 CRORES IN THIS FINANCIAL YEAR then is level 1 applicable or not?

author : RamKumar

Posted On
09 July 2009
Dear alls pls advise

As per the decision of the H`nerable DELHI HIGH COURT the is no service tax on rent of the immovable property

Though the Supereme court decision is pending

if we follow and not pay the service tax on the rent which we are paying to our landlord and giving the undertaking that if the decision will go against the assesse and have to pay the service tax with interest and panelty

and we do like that

if yes could we use our cenvat credit of service tax and excise duty for paying that service tax

pls advise

Hi,

We are importers of Ladies Apparals. We pay the duty for the product on the FOB. Now we have added some collar tags and other tags on to the product from the manufacturing end itself.

Can the manufacturing company raise a separate debit note for these tags or should it be included in the FOB of the product itself. If the cost of these tags are added to the product we might be needed to pay extra duty. Is it legal to raise a debit note. If it is considered as a customs duty evasion i would like to know what will be the penalty.

Thanks
Arun

If shareholding of one of the directors increases more than 10% in a private company then what will be consequences and any remedy for that??



Thanks & Regards
Vandana

Hi,

My query is that why SEZ location companies are exempted from the Tax.
Please provide the details about the SEZ means why it been treating like this.

Thanks in advance.

Regards,
Nagaraju.

Please tell me the treatment of F&O trnsactions.Whether it is a speculation business or an ordinary one for carry forward of business losses.Kindly specify notification no (if any) in this regard.

Pls send me the proceeding ( steps) for incorporation of Pvt. Ltd. company