A company was incorporated in July 2004 . The company started Restaurant operations in the May 2005 .


The restaurant business was continued by the company till March 2008 . The Company has also exported frozen food to United Kingdom . Due to heavy operational cost the following losses as per income tax are accumulated .


Kindly advise if what conditions are to be fulfilled for claiming losses under Income tax Act in case we opt to merge this company into some other profitable company .


With regards

Sandeep Rohatgi
09868705794

A company has entered into a cost sharing arrangement with its group companies. All the expenditure are paid by that comapny and recovered from other comapnies by raising a debit note. The company charges certain fees for these services.

Is service tax required to be charged on the entire amt. of debit note, even if it shows separately the cost incurred and fees charged along with documentary evidence?

My opinion no service tax on reimbursements..

Can the other companies claim Cenvat credit of the cost incurred by the main Company?

sir,
'A' sold his agricultural lands situated within the limits of Nagar Palika in A.Y. 2004-05.
'A' invested the amount, more than the sale consideration, over purchase of another agricultural land within the 2 years of sale of the above land in joint names of himself and his two major sons.Assessing Officer quantified the deduction u/s 54 B to 1\3rd of the investment made.C I T (A)dissmissed the appeal and hold the order of the A/O.
Kindly enlighten with case laws.

sir,
'A' sold his agricultural lands situated within the limits of Nagar Palika in A.Y. 2004-05.
'A' invested the amount, more than the sale consideration, over purchase of another agricultural land within the 2 years of sale of the above land in joint names of himself and his two major sons.Assessing Officer quantified the deduction u/s 54 B to 1\3rd of the investment made.C I T (A)dissmissed the appeal and hold the order of the A/O.
Kindly enlighten with case laws.

is TDS deductible on SMS service using by a concern from MTNL / BSNL.
Like some concern provide free messaging to it's user nd it get monthly bill from MTNL. Whether it sud be covered in Internet usage nd deduct TDS or in Telephone charges which will attract FBT.
or any other treatment.

suggstions are welcomed.

Wishing u all a very happy nd prosperous diwali season.

Thnx & Regards,
Anil Jain
9818 921865

Please Help me for Actuarial valuation of Gratuity Liabilities and leave encashment Liabilities under AS-15(revised 2005). and also send me performa for the same. how can i maintained this. or please send me Email ID & Phone No Of actuarial Proffesional near Delhi or Punjab.

Please help me and email me soon


Thanks & Regards,

Ajay Kumar Sharma,
Asstt.Personnel Officer,
Mukerian, Punjab
ajay0006@gmail.com
Mob:- 919888301880
Mob:- 919316898170

DEAR SIR,

PLEASE SEND ME THE SOFT COPY OF CA NOTIFICATION NO.1 CA(7)/53/2001 REGARDING THE CEILING LIMIT OF AUDIT ASSIGNMENTS


REGARDS,

JEEMON JOSE

Hello Experts

I have queyr about a case
the case is "We send some part to outside india for repair and their maintence" and we pay them for the maintenace or repair.

Now my question that Is there any liability for TDS my opinion about it that the service has been rendered outside india and the payment is also made them outside india so there should not be any liability for TDS.

as per latest decision is it required that service must be rendered in India and utlized in india?

is it fall under section 9 or not?

Hi

can anyone tell me how the director's remuneration to be treated in the p&l a/c. since company reports under the head of mfg, selling and admin expenses in the AR.

can be considered/shown/taken under employee cost?

Regards
N Nagarajan

Hi

How the excise duty on stock in trade/finished goods are to be treated in the p&l account compare to excise duty paid on sale of goods (since companies reporting in two different places i.e below gross sales and under expenditure side in the Annual Report).

should be considered under stock adjustments or under expenditure side or should be included with excise duty paid on sale of goods.

Kindly clarify

Thanks & Regards
N Nagarajan