please explain me this provision under section 24(b) interest on borrowed capital
Interest is deductable even if capital is borrowed to purchase a plot but not for the purpose of construction of building on it.
please reply soon

Sir/Mam

A company has Equity share capital of Rs. 50 lacs and preference share capital of Rs. 50 lacs now, it wants to convert its Cumulative preference share capital of Rs. 50 lacs into Equity Share Capital. I would like to know that when we file Form 5 and form 2 in this case, then do we have to pay stamp duty on it as it has already paid at the time of issue.

the assesee registered with 100% EOU unit at month of september then how the treatemt income tax and company law .Please send me answer .
1) can i pay the tax till the september
or
2) the income arrived from export of software is fully exmpt and form no 56G attach with return

waiting for replay

Hi,

It is come to our Notice that there is an error in the Master Data of the Company in MCA site. We send a Master Data correction request to the concerned RoC. However, our request is not entertained by them saying that the company is formed in 2006 and the facility is not available for companies formed after computarisation of ROC affairs.

On our perusal, we have realised that the paid-up capital is shown more than what is actual.
The error is copied from the error on Form No. 20B filed.

We would like to get this error corrected

Kindly advice us the course of action to be done.

best regards,

Rajesh Pillai

Are the unregistered agreements on stamppaper valid as per law.

DOES THE NEW RULE FOR EXEMPTION IN PAPERS ALSO APPLY TO STUDENTS APPEARING FOR THE FINAL EXAMINATION UNDER THE OLD SYLLABUS ?

What is T.D.S. UNIQUE TRANASACTION NUMBER (UTN)

What will be treatment of golden bat recd by schain tendulkar as per income tax from the view point of company and receiving person?

Please mail the answer on manish.mehta@ambujacement.com

TODAY IS 18TH APRIL,BUT NO EXCEL UTILITY IS AVAILABLE TILL DATE OF NEW INCOME TAX RETURNS,HOW SHAME FOR OUR INCOME TAX DEPARTMENT

Dear Members
A company engaged in Jewellery business. Some customers sold old gold against which they purchase new Jewellery. Suppose old gold worth of Rs. 1,00,000 is sold and purchasea new Jewellery worth Rs. 1,20,000.

In the sales invoice Rs. 1,50,000 is shown as sales against which value of old gold is shown as deduction and the balance amount of Rs. 50,000 shown as amount received.

I request you inform me how to account the above transaction. Whether the gross value of Rs. 1,50,000 is to accounted as sales and Rs. 1,00,000 is to be accounted as purchase or is it sufficient that the net amount of Rs. 50,000 is alone to be accounted as sales.