I am writing down a pratical problem :-


(i) Opening WDV of Machinery on 01.04.2005 : 1300552/-

(ii) Assets destroyed due to fire & Insurance Claim received on
On 01.10.2005 : 5540639/-

(iii) New Machinery purchased after 01.10.2005 to 31.03.2006 : 6464630/-


Due to fire the whole machinery was not destroyed and few machinery was left intact after fire. What will be my WDV on 31.03.2006? Also whether any STCG will be levied as I have purchased machinery after receiving the Insurance claim? Whether the block will be counted at the end of the year?

my co. has to receive a fix amount from various defined customers on particular day of each month. i want to bring a procedure whereby i enter in to a agreement with my customers for transfer of the fix amount from their bank account to my co.'s account by giving standing instructions to the bank. Is it possible? Please define the procedure...

Sir,

Our organisation purchesed material from open tender as per our specification the same material will be utilised at other similar type of organisations and the same supplier supplied the same material to the other ultilisers also) further ownership of such material not transfered till to receipt of material at our premises.

there is no work involvement at all.

now the income tax authorities issued a notice for personal hearing on "why you are not making of TDS on your purchases"

kindly clarify whether these purchases are attact the TDS provisions and also request to name the any circular in favour of our argument.

yours faithfully

G Ramesh babu

Delayed payment of TDS attracts Interest @ 1% pm.
But how can this be presented in the return of TDS for the subsequent quarter.

Is there any problem if an indian company raises invoice in foreign currency to an indian company for the service rendered in india.

As per Sec-372A, A public limited company can not make investment exceed the prescribed limit under that section.
Can it possible that a public limited company invest 100 % of Paid up capital in another company by passing special resolution in EGM ?
Please site suitable case laws, if any,in reference of this provision.
If there any difference if investee company is infrasture company or Pvt. lmited ?

NSC prurchased in the name of spouse or minor daughter can be included under 80c deductions or not ?

Is there any difference between LTA and LTC in tax emptions while arriving Taxable income

Hi

I have two offices in mum and blr and both are working under the same company name. We have registered both the offices seperately with the Service Tax.

Can we go for a Centralised registration for all the branches under the same company. If yes which section of the Service Tax Act says about that.

Pls let me know. ASAP

Respected all,
my query is that i deduct tds on foreign company for consultancy charges in this case we submit tds in income tax department we need pan copy of foreign company but i have no pan no. indian pan no. copy for this company and for tds submit software of tds need 100% pan no for submit tds