Dear Colleagues

Mr.A,Mr.B,Mr.C,& Mr.D entered into a joint venture for a setting up an I.T.Park. Mr.C,& Mr.D prematuredly rertired from the J/V.At the time of retirement Mr.A,Mr.B paid lumpsum consideration of Rs.50 lacs to Mr.C.They mentioned that amount included amount payable to Mr.D.

Mr.C paid Rs.20 lacs to Mr.D towards his share in retirement consideration of Rs.50 lacs.There is written document which mentions this fact.But Mr.C while making payment deducted TDS Under sec194J.

Querry

Mr. D has an apprehension that since TDS has been deducted,service tax may be leviable.
Infact the amount he received is towards his share in retirement consideration of the Rs.50 lacs.

Is Mr.D liable to pay service tax on Rs.20 lacs he received towards his share in retirement consideration of the Rs.50 lacs ?

Regards
c.a.paresh zatakia

what are the differences btw the terms CHARGE,PLEDGE, MORTGAGE, HYOPOTHECATION, REVERSE MORTGAGE....

is it mandatory to deduct TDS if assesee has TAN number but not in Tax Audit u/s 44AB form last 2 years

Please send me reply on the following email id

a_mpatil@yahoo.co.in

thanks & regards

ajay

Hello Friends,

I have a clarification on Profit Split method of TP and i am sure you all will be able to slove it.

Under PSM of TP, the combined net profit is apportioned both under Residual & Contribution analysis.

What does this combined profit stands for is it operating profit / Gross profit under both the analysis (combined & Residual)???

Waiting 4 ur replies

Thank you

Regards
Ankitha

Dear All

Please guide how can a transfer of shares be effected by way of gift?

Nehal

Please provide solution for the following case:
There is a company with partnership as
Public company : 50% (shareholding)
1stFI : 35%
2nd FI : 10%
3rd FI : 5%

Now company is having financial problem,
whereby public company have funded the company. but 1st FIs is not at all funding to the company nor ready to transfer its share to other partner or to a third party.
Public company wants to drive out 1st FIs, what is the solution for this problem.
Also, public comany does not want to terminate the agreement with other FIs.

Pls share your experience, knowledge.

thansk & regards,

Hi. when is the next ca exams supposed to be conducted.. Nov 09 or Dec 09.

I AM REGISTERED WITH SERVICE TAX DEPARTMENT IN A CATEGORY RENTING OF A IMMOVABLE PROPERTY FROM APR-2007. I RAISED THE INVOICE TO MY TENANT I.E. RENT OF RS.100000.00 SERVICE TAX AMOUNT RS.12360.00 TOTAL 112360.00. I HAD LET OUT MY PROPERTY ON RENT THAT INCLUDES OPEN AREA AND COVERED AREA. MY FIRST QUESTION IS THAT SERVICE TAX APPLICABLE ON COVERED AREA AND NOT IN OPEN AREA.MY CLIENT SAY THAT SERVICE TAX IS NOT APPLICABLE ON OPEN AREAS AS PER SECTION 65(ZZZ).
BUT I RECEIVED PAYMENT OF RENT ONLY MY TENANT REFUSES TO PAY SERVICE TAX AMOUNT AS HE IS SAYING THAT SERVICE TAX IS EXEMPT ON THIS SERVICE.MY QUESTION WHAT IS MY LIABILITY I HAD TO PAY SERVICE TAX ON RS.1 LACS ONLY OR I HAD NOT TO DEPOSIT THE SERVICE TAX AMOUNT AS THE SAME HAD NOT BEEN RECEIVED BY ME.

Pls tell me about new Challan Form No. 17 for payment of TDS and W.e.f. 1st July or 1st April

XYZ Pvt Ltd co., paying every month Building rent Rs. 30000/- and telephone charges, elct. charges & other expenses over all Rs.15000/- to ABC Pvt Ltd co. - then XYZ to be deducted TDS from ABC for rent 22.66% and in which rate TDS to be deducted on reimbursement exp.(as above mentioned expenses -which is not a maintenance or Hire charges)and also which under sec.(Nature of Payment)to be accounted