The profit and loss account of a businessman, running a sole proprietorship firm, is debited with interest on capital Rs.5000.Whether it will be allowed as a deduction under the head profits and gains from business or profession?

A Businessman employs wife in his proprietory firm and pays a salary of Rs.16,000 per month. Wife has no technical qualification, knowledge or skill.He includes the salary paid to wife along with salary paid to other staffs. My question is:

1.Whether salary paid to wife will be disallowed under the head profits and gains from business or profession? If yes, under what section?

2.If not, Whether salary received by wife will be clubbed with the husband's income u/s 64(1)? If it is clubbed, under what head of income it will be clubbed?

3.Will there be any difference if wife possess technical qualification and she was previously employed in another firm, where she was drawing a salary of Rs.1500 per month?

If a Government Company shows a freehold land as its asset, although the registration is still pending with the Government (the transferor). Can it show it as its asset?

WHETHER TDS IS TO BE MADE FROM THE FINANCE CHARGES PAID TO A VEHICLE FINANCE COMPANY UNDER HIRE PURACHASE AGREEMENT.

One of my client is registered under WCT Act. He is a contractor and using material purchased by himself and charging the same against the bill raised bi him to his client. At the time of billing he is charging VAT @ 12.5%(against both 4% and 12.5% purchase) Is it correct procedure. Also what rate of labour charges should be count on the bill raised by him to his clients.

4 persons are share holder in a pvt.ltd.co. out of these 2 persons are director. during the year both the directors are in abroad only. whether the 2 share holder(not a director) can conduct the AGM without 2 Directors.

Thanks & Regards,
Prakash.M

My case is :
My organaisation, a pvt. ltd. co., has taken an appartment on rent ,owner is a indivitual.Further agreement related to above also covered that my organisation will pay the expences related to maintainance of such appartment.Owner of appartment has using the services of an association for maintainance.Now that association is raising an monthly invoice to the owner,which he send to us and we make the payment to association directly.
Now my query is:
Whether we are liable to deduct TDS or not because according to association , they are taking payment from an indivitual who is not lible to deduct TDS whereas being a co. we are lible to deduct the same?

Please clarify straight whether a Members Club can claim exemption under 6/2005 notification. Whether the Club can be treated as SSP.

M/s A & Co is a partnership firm in india manufactures bottles, which purchases capital goods from a 100% EOU.The EOU issues invoices as below for the said removal.
Amount in lacs
i) Assessable value :100.00

ii) Basic customs Duty @50% of 7.5%:3.75
on Rs.100.00

iii)CVD on i& ii above @ 10% :10.375
iv) Edu cess on CVD @ 2% :0.2075
v) secondary & Higher edu cess on :0.1037
CVD @ 1%

vi) Total Customs Duty :14.4365

vii)Education cess on customs duty:0.288
@2%
viii)Secondary & higher education :0.144
cess on Customs Duty @ 1%

ix) Aggregate duties of customs : 14.868
(vi + vii + viii)

x) Education cess on (ix) above : 0.297
@ 2%
xi)Secondary & Higher education : 0.149
cess on (ix) above @ 1%

Total Duty on DTA Sales :14.3145

what all are the amount eligible for CENVAT credit?

whether item x & xi are eligible for CENVAT creit?

is the last date of transfer is extended upto 15may