I have a query regarding application of section 50B i.e. Slump Sale. Where an asset transferred, is one on which cenvat credit has been availed by the transferor in the year preceding the year of transfer what will the treatment of credit that would have been available otherwise had the asset not been transferred u/s 50B in the hands of the transferor Co or can it be availed by the transferee Co. As it has been provided that the unabsorbed losses and unabsorbed depreciation can not be carried forward by the transferee co. and only the transferor Co. can carry forward the same.
Now I want to know whether the Capital Asset on which Cenvat has been claimed or can be claimed is a depreciable asset for this section.
If yes, then what will be treatment of Cenvat Credit which can be availed, (i) if the asset is transferred u/s in the year of purchase, (ii) asset is transferred in the second or subsequent years.
Also as per Cenvat Credit rules, 2004 the cenvat on capital asset can be availed only if the asset is in possession of the person. Whether the possession here means the possession throughout the year or a case in which person held the asset at any time during the year will also be considered for the same.
Please reply urgently.
Thanks in advance

Dear Sir,

The last date for filing of ST-3 was October 25th and April 25th for two half year for year ending 2007-08.

I want to file both the half year return in ST-3 form now.

Can I do it now? Does any penalty goes alongwith the filing? If so can you kindly forward me the penaty circular, so that I can file the same witht the penalty.

Rgds,

Linda Williams

Hi,

a) I have deducted TDS in the month of May'07 and not remitted with 7th of June'07. Whether the expenditure will be disallowed?

b) I have an agreement with another party to share the expenses of advertisement. During the year 2007-08, the other party has paid Rs. 1,00,000 towards advertisement, he made TDS. Later, he transferred Rs. 30,000/- through debit note to me. Whether I have to make TDS on him, to get expenditure allowed?

Please reply, its urgent

pl. give me the iformation about pre-incorporation expences of a company.

please tell me the procedure for service tax registration for a private limited company. and i like to know the attachments for st-1 form.

I have a group of persons and we want to do a business of issuing a journal in a particular subject area so suggest us how to issue means any need to take a parmission?
And how to get the licence for the issue of journal(weekly or monthly.
And also necessary information about the same if u think that it is also essential.
Thank you in Advance.

Hi,

Can any plese let me know the clear diff of Jointly control entity
And Jointly control Operations.

Rgds,

Suneel

Hi,

Can any plese let me know the clear diff of Jointly control entity
And Jointly control Operations.

Rgds,

Suneel

Dear sir/Madam My Qus. is One Custom house agent pvt ltd. co. issuing mango to its customers and also having Original Invoice from mango vendor for amount the paid. CHA Co. treat it as Business Promotion. and Paying FBT on the same as applicable FBT rate.
1 Qus) Can this be a Business Promotion and allowable in Income tax as expenses.
Please answer the query as soon as possible
Thanks

I am Varun and i have group of persons and we want to build up a website so we have no direction that how to create a website n how to popularise it?
And also inform me inflow and outflow of money.means minimum requirement of money to build up a website and how can we earn through a website.
so plz give me guidence for the same.
Thank you in Advance.