Dear Sir,

Here with I am requesting your valuable suggestion that we have got the service tax Registration No. In the name of Company A Corporation Ltd ( Dated 6th, January 2005).



On August 8th 2005 Company –A Corporation Ltd has become a DIV. of Company –B Ltd. (Through merger), After merged with Company-B Ltd, Company-A name has become Company A Div of Company B Ltd, still now Company-A is working as separate division and failing all the relevant returns separately by using service tax Registration No. Of Company A Corporation Ltd in place of Company B Ltd



Which service tax Registration No. we suppose to use ,

Whether what we have used is it correct or wrong,

If it is wrong what is the procedure

The firm is engaged in construction business.

The WIP of the firm Exceeds 40lacs.

The firm doesnt have any purchase, sales and gross receipts.

Whether firm is liable for tax Audit.

Facts : A - State Govt.
B - Govt. Company
Purpose of B - Upliftment of the Horticulture and Agro based industries in state.

Transactions by A - Give non refundable funds to B for assisst the industies in state.

Transactions by B - Invest in agro based new projects in state as equity by holding as 26% shares which was buy back by promoters after 5 years with interest.

Income by B - Invest in FDR from the unused funds.

Q :
1. Whether interest income earned by B is the income of A or of B and whether it is taxable under Income Tax Act?
2. Whether these unused funds are to be shown as liablity in the books of B or not?
3. If this interest is also payable to State Govt. then who pay the tax on the same?

Is RBI approval required for the receipt of money from a foreign entity apart from getting Foreign Inward Remittance Certificate (FIRC) from the bank..

Q : Whether the Director's Sitting Fees is liable to TDS u/s 194J if yes, then why not the same has been followed in routine by the companies?

what is return of allotment?Is it necessary to file it annually?

Purchase goods from party(central) on 15.4.2008 Invoice value Rs. 102000 ( inclusive 2 % CST) but after 15 days they issued a debit note for 1% CST Rs. 1000/- So, my question is which amount have to mention in "C" Form when we will give to party i.e. 1,02,000 or 1,03,000

whether tds will be attracted on referrel bonus?
if applicable what rate will be applicable?

Hi,

Can anyone help me in usnderstanding following:

1. I buy and sell shares on NSE and pay commission and STT on both sides of transaction. Can this STT be deducted from my STCG that I make in this process?

Suppose I buy 10 shares of company XXX for Rs 10/- per share. I pay Rs 1000/- for my purchase and additionally pay commission of Rs 5/- and STT of Rs.5/-. So my total cost becomes Rs. 1010/-. Now if I sell these 10 shares after 10 days for Rs. 15/- per share and make Rs. 1500/-. I again pay a coomission of Rs. 5/- and STT of Rs. 5/-. So by total inflow is Rs. 1490/-.

Now, is spent Rs. 1010/- for buying the shares and got Rs. 1490/- when I sold all. So my Short Term Capital Gain (STCG) is Rs 480/- (1490-1010).

Is this correct? If not then can anyone please explain what my STCG using above example?

Thanks,
Abhishek

As per new AS15 Revised , Acturial valuation for Gratuity and Leave encshment has to be computed under projected unit cost method so is it necessary to recompute Acturial valuation for Gratuity and Leave encshment for previous year 06-07.
and show the trasitional liability seperately in the current year 07-08