I need Format of Dissolution of partnership deed where one partner take over all assets and liabilities of the firm.

Thanx in advance

Sir,

If an Advocate who is in specified profession under sec 44AA has an income of Rs.152000/- in his newly setup business for the assessment year 2008-2009. whether he was required to maintain books for the A.Y-2008-2009 or is required to maintain books for the A.Y-2009-2010.

Sir,

An Indian company share was held by a foreign company,British Virgin Islands. In 2004 the shares were purchased by a NRI the purchase consideration being made through Saudi Arabian bank Account.

My doubt is investment in indian company share by an NRI the source being his salary earned in saudi Arabia will attract an income tax? Will there be any tax on the source which he used for purchasing the shares of the Indian Company?
Regards,
Priya

A unit is not considered as a SSI , if the T/o limit crosses 400 lakhs in the preceding year.
after this criteria is full filled, we can decide if a unit can avail exemption from excise upto Rs. 150 lakh value clearance.

My question is
Q 1. If NEWLY ESTABLISHED UNIT in FIRST YEAR OF OPERATION crosses Rs.400 lakhs can it be a SSI?
Q 2 .If yes can the exemption notification no.8 be given to such a unit?

DEAR ALL

I HAVE COME ACROSS SENTENCES LIKE INTEREST ACCRUED BUT NOT DUE ?

WHAT IS THE MEAINING OF ACCRUE & DUE . I KNOW THAT THEY HAVE DIFFERENT MEANNGS.

PLEASE ANY ONE EXPLIIN WITH EXAMPLE.

dear all
one of our client had deposited rs. 400000/- with a builder for booking a house unfortunatley he did not get house but builder paid him rs.800000 after four years. builder has told him to pay tax on rs. 400000/-.

i think this will come under head income from other sources and accordingly it will be taxed ? is builder liable to deduct t.d.s ?

Please tell me how to solve this question step by step.

Following information relating to a type of raw material is available:-
Annual demand :2400 units
Unit Price :Rs2.40
Ordering cost per order :Rs4.00
Storage Cost :2% p.a.
Interest Rate :10% p.a.
Lead Time :Half-month

Calculate EOQ, and total annual inventory cost in respect of the particular raw material.

As per the latest amendment of service tax if a person is charging commercial rent or consultancy fees for the month of Feb 09 at the end of the month then service tax will be charget @ 10% or 12% or proportionately.

If rent is charged in advance then at the intial stage service tax will be charged @ 12% but after comming amendment for that month service tax will be 12% or later on debit note will be issued.
Please tell me.

Respected experts

My mother's income has exceeded the maximum exemption limit which is not chargeable to tax i.e. Rs. 180000. Please suggest some tax-saving options available to us which can be utilized at this point of the FY. Please guide.

Thank you.

i am businessman and i pay lorry frieght for the year 2008-2009 to transport more than 50000 in part.shoud i deduct tds?
that transport has not pan no.