For a unit under EPCG are there any concessions available for the excise duty on the indigenous capital goods. If not the duty paid can be availed as CENVAT credit.


Please reply ASAP.

We are in the business of tour operator, mainly providing service of accomodation. but the thing is accomodation which we are providing to client for stay is taken on lease for various period by us and we have licence of luxury tax and bread and butter of same. we are providing cook along with accomodation facility. then how much service charges we have to collect, which tax is applicable and at what rate, how to raise invoice ?

I have a query related to the Employees pension fund. The facts of the case are:

The employer is deduction 12% of the basic pay from the salary as the employees contribution towards the P.F.
Now he is also supposed to deposit the same amount in P.F. whereas he has been depositing only 3.67% in P.F.

The employees noticed this from the P.F. acount statement but they assumed that the employer must have been depositing the balance 8.33% in the Employees pension Fund.

But now they have discovered that no such contributions have been made by the employer in Employees Pension Fund.

Now my query is that whether employees have any rights & measures to exercise against the employer? If yes please provide me with a refernce or link where I can found all of them in Detail.

Also, is there any account statement of Employees pension fund that should be made available to the employees similar to the account statement of the P.F. & on what periodicity?

What will be the tax treatment for an unregistered Charitable Society under Income Tax (neither registered under Societies registation act nor under Sec 12A of Income Tax Act) ?

Which ITR form shall be filled ITR 5 or 7?

Whether the Life membership fee collected from its members is liable to tax?

In the next year the Society get registration under Societies Registration Act but not under Income Tax.

How it will be dealt with in both the years??

A CA working on full time basis in an Industry also provides some consultancy to his private clients. Now these clients want Invoice while making the payment. Can he issue an Invoice? If yes, by what name and will he need to get some registrations & permissions?

Hi,

If a Company purchases some furniture say 1 executive chair costing Rs 4000/-. Will this need to be capitalized as per either Companies Act or Income tax Act.?
What if there are 10 chairs purchased in single bill totalling an amt of Rs 45000/-?

What if it purchases 10 chairs of different dates via different 10 invoices of Rs 4500 each?

Experts pls keep query OPEN after your replies to let other also to comment.

i want to know what is excise?

Can an Indian Company raise a bill on another Indian Company in a currency other than rupees? Please let me know with relevant provisions. Thank you.

Dear Experts,

We as a banker were required to create security on following terms:

"First charge by way of hypothecation on plant and machinary ranking pari passu with other term loan lenders.

We had executed Deed of Hypothecation with the borrower however at the time of executing the said deed, pari passu letter from the other term loan lenders were not obtained for ceding of charge in our bank favour. Pending the stated pari passu letter from the other term loan lenders we filled the form 8 with ROC for charge registration and attached deed of hypothecation in form 8 as executed by the borrower in our banks favour. We correctly mentioned the nature and extent of charge as described above however did not attach pari passu letter with the form 8 as the same was not avavilable with us at that time. Interestingly ROC did not raise any objection on the same and registered the charge. Later on after one year of charge registration other term loan lenders issued letter ceding first pari passu charge in our banks favour. Now the question is:
1. Whether the charge registered earlier without attaching pari passu letter while filling form 8 is a valid one and in case of default committed by borrower the same would be enforceable in the court of law.
or
2. we should again file form 8 (Perhaps modification of charge) attaching pari passu letter as received from the other banker. However this would require CLB approval for condonation of delay beyond 30 days.

Please clarify.

Hi

Please let me know what is the due dates for filling of "C" forms to the department.

Cheers,

Lokesh.A.S