is there any specific condition or requirement for considering income earned from sale and purchase of equity shares through d-mat account as a BUSINESS INCOME.

AND IS IT OPTIONAL to consider it as a short term capital gain or business income.?

What is meant by extinguishing liability on shares as provided in Section 100 ?
What is the difference between extinguishing liability and reducing liability on share capital?

Dear Sir,

A manufacturing Company received a Purchase Order. According to this P.O.:- Mfg. Co. will send the material to M/s ABC Co.; ABC Co. have taken L/C and It will issue the 'Form C' to Mfg. Co. but ABC Co. wants to get delivered the goods to XYZ Co. directly and XYZ Co. take the Cenvat Credit; for this ABC Co. wants Mfg. Co. issue two invoices;

First- Commercial Invoice in the name of ABC Co. for the purpose of L/C and 'Form C'

Second- Excise Invoice under rule 11 in the name of XYZ Co. for the purpose of availing Cenvat credit by XYZ

My Question is:- Can it possible to issue two invoice in different name for same goods ?

If it is not possible, how can XYZ Co. availed cenvat credit?

please reply soon

with regard

Can you share few articles on Sarbanes Oxley, Risk Management and COSO frame work?

Under Companies Act,1956 is it permissible to accept Share Application Maoney be in Kind? or it has to be in Cash only?

Dear All,

Kindly mail me the details of CASE - NEMICHAND KOTHARI VS. CIT

Thanks.

Sir/Madam,
I have work for two company for 1st company only 3 month(not paid HRA by the company). For 2nd company worked for remaining month(9 month) and received the HRA.
My question is whether I can calculate the Rent paid for 12 month with received HRA(which I received only for 9 month)
OR I have to calculate only for 9 month Rent with month HRA ?

Kindly advice me.

Regards Amresh

Sir,

I have received the answer of following Query is YEs we have to deduct tds, but our CA not convince, Can you provide me
Same case law for the query, which will help me lot.


Are we liable to deduct tds on supply the follwoing Service :

1. Morning & evening Tea given to workers & staff member by Tea stall monthly bill around Rs.50000/-
2. Tiffin Lunch supply by party to our factory for staff & workers. Supplier not registered under service tax or vat. so he not charge any tax on his bill. Monthly bill around Rs.135000/-

Pls advise that is we liable to deduct tds on these type of service.

is TDS to be deducted on purchase of Licence to operate software

Dear Sir,

We are manufacturer & Sale of Processing of food (Ready to eat snack) i.e. Potato Chips like lays. in Palda Indore, From July - 2004.

our qt.is :-

Are we eligible of deducting U/s 80-IB ?