Mr X filled arbritration application against Mr Y who was declared a defulter by the Stock Exchange Mumbai.The final Award was RS 6,61,503 payable by Mr Y to Mr X alonge with interest @ 18% p.a. from 1-4-1994.
Mr X received RS 22,22060 after deducting TDS of RS 1,99,404.(RS 17,59,961 as interest & RS 6,61,503 as principal)
MR X liable for Capital gain?
CAn mr. X liable for tax under income tax?
Whrer Mr Y was broker & Mr X was Client. Mr Y puchases the stock but not entered in the stock statement of Mr X which was claimed.
Mr X filled arbritration application against Mr Y who was declared a defulter by the Stock Exchange Mumbai.The final Award was RS 6,61,503 payable by Mr Y to Mr X alonge with interest @ 18% p.a. from 1-4-1994.
Mr X received RS 22,22060 after deducting TDS of RS 1,99,404.(RS 17,59,961 as interest & RS 6,61,503 as principal)
MR X liable for Capital gain?
CAn mr. X liable for tax under income tax?
Dear Sir,
This is Pratheek from Bangalore. My Doubt is : I have a bill of Rs.5,58,254/- it includes Rs.3,72,285/- of material cost, Rs.46,36/- is VAT , Rs.1,24,095/- is Labour Charges and Rs.15,338/- is Service tax . In which The value of the Material is going to be capitalised. So on Which amount i have to deduct T D S is it on Whole bill value or On Labour Charge.
Kindly guide me.
Regards
Pratheek
i have given cash loans to my supplier totalling rs.300,000 .in instalments of 30,000 ; 100,000 ;100,000; 70,000.
later on from same supplier i purchased one machinery item costing 3.5 lakhs .
can i adjust cash loans against purchase from same party ?
I need a clarification with respect to leave during articleship under ca final old syllabus? Is it 1/6 or 1/7 of actual period served. And what does actual period served means. Is it the period of 3 years of articleship or period of articleship less leave taken?
Hi,
I have completed my PE-II in my first attempt in Nov 2007. Somehow I was not able start my article ship till now. I intend to start it in another year.
I needed to know if I can start it at anytime or is there any time limit within which should start it.
I hope I will not be asked to start the whole course from PCE when I intend to do my finals.
Kindly help.
Hi frnds
i hv a doubt which relates to marginal VAT. pl guide me
1. in the first instance a dealer buys goods from exempted unit and sells the same :
a. at some (margin) profit
b. below the cost price
2. Dealer A sells these goods procured from 1.a. to dealer B and dealer B sells the same in the market below the cost price and at profit.
hw would be the VAT TREATMENT????
Hi frnds
i hv a doubt which relates to marginal VAT. pl guide me
1. in the first instance a dealer buys goods from exempted unit and sells the same :
a. at some (margin) profit
b. below the cost price
2. Dealer A sells these goods procured from 1.a. to dealer B and dealer B sells the same in the market below the cost price and at profit.
hw would be the VAT TREATMENT????
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