We are into semiconductor chip designing business. we provide the software to our subsidiary, which is at USA, to manufacture the chips and sale. we are claiming some percentage of royalty on sales done by our subsidiary, because we are providing the software.

Is the royalty which i am getting is exempted from service tax as per Service tax export rules,2005 ( i am fullfilling 3 conditions) or will it attract the service tax? please advice.

We are into semiconductor chip designing business. we provide the software to our subsidiary, which is at USA, to manufacture the chips and sale. we are claiming some percentage of royalty on sales done by our subsidiary, because we are providing the software.

Is the royalty which i am getting is exempted from service tax as per Service tax export rules,2005 ( i am fullfilling 3 conditions) or will it attract the service tax? please advice.

hi,
it will be helpful if some one educate me on the follwoing point.

there is a land development agreement between three parties. first party is the owner of the land, second party taken development rights and inturn passing it on to third party. the agreement is between three parties.
party two and three have a director in common, my doubt is, the person who is common director to party two and three can sign the agreement on belalf of both the parties or not. if he signs on behalf of both is it legally valid or not.

I am working in paper manufacturing co.

please solve my probles :-

amount 50000/- finished goods rejected due to rain.

what will be financial entry of 50000/-

Above material is not return from debtors,its lossed in co.store & its already taken in excis record, its loss so i have to reversed excise duty.so please pass journal entry.

Dear Sir,

Can we file revised return of vat Audit report for f.y.2007-08 in Dadra & Nagar Haveli? If it is, what is the due date for filing revised vat audit report for f.y.2007-08 of Dadra & Nagar Haveli? beyond due date what will be the penalty.

Please guide us.

Thanks,
Sachin

There is a pre-termination agreement between two companies, and one compnay is getting compensation in 45 nstallments... balance peried of agreemnet 36 months. whether we need to account it on accrual basis or receipt basis?.. Tax is applicable on accrual or receipt? pls advice

Hi sir/madam

Whether the stipend received by the Article Assistant is taxable or not,Please explain with reason?

As per negotiable instrument act a bill can be accepted before its due date and also it can be subsequently endorsed without acceptance.My doubt is if the drawer of the bill needs it to be discounted with the bank ,when the bill shall be accepted and such bill can be endorsed or not

Whether TDS is applicable on payment of freight to truck owners in cash. Individual track of truck owners is not possible. So how can we check the limit. Truck owners submit GRN in the name of some transporters. Should we check the limit of Rs. 50000 transporter wise whose GRNs are we have received.

Respected Sir/Madam,
mu query is Repayment received from LIC (Principle+interest+ bonus) what will be tax treatementin that A Y in which they are received? are they taxable?