W.e.f. 13-July-06 Scope of Section 194I has been extended to cover any rentals payable on equipment by the company.

Is vehicle which is a capital asset does fall within the definition of Equipment and hence any lease rentals payable to leasing company will attrack TDS deduction under Section 194I?

I have read at many places that before applying for compounding of offence under 621A, the offence committed should be first rectified i.e. it should not be a continuing offence. For example, if the Bal Sheet etc. is not filed or Sec 383A is not complied and so on, such offences have to end first by filing the documents or complying with 383A etc.

Can you tell me under which section, rule or guidlines such prior compliance before applying for compounding is indicated.

My email ID is atulv27@gmail.com

Regards.

Atul V.

Can anybody sugget me about whether are there any V CDs availabe for final year papers . so that it can help in preparation . Or else any coaching institutes that provide online coaching @ CA Final level.Plesae help

Gufran khan
+91 9923810173
Pune

a firm[say a] has taken a frenchise of a product from a firm[say b],
firm-a accepts only credit card payments,
the amount of sale(credit card sale) is send to firm-b.
later firm-b will pay some amount to firm-a as per their contract.
how will the credit card payments be recorded in books of firm-a.
Also some bank charges are deducted for this facility by the bank.
please give me entries to be passed in this case.

What is deferred tax liability?

How to do accountis for it?

One of my clients has lost the copy of IT teturn filed by him in previous years

Kindly tell me from where to get a duplicate copy of Income tax return filed in previous years.

if a Pvt Ltd co. is trf of land (stock in trade) in a partneship firm as a capital contribution then on this transaction stamp duty will be attract or not.if attract then what will rate of stamp duty under indian stamp act

If a real estate private limited company is transfer of land (stock in trade) to a partnership firm as a capital contribution, then transfer between transfer price minus cost is taxable under what head Business or Capital Gain.

if any caselaw.pls give?

Dear Sir / Madam

If we are purchasing a material from our creditors & we are selling it. but before sale we are changing the name of product and sale it by a new name. The product is excisable.

Then it is our trading sale or mfg sale and it is taxable under excise on not?

What criteria does RBI follows before including the bank in the SECOND SCHEDULE ? Is the constitution of the organisation viz. Comapny, firm, Cooperative Society, etc. considered or material in this respect ?