An indian co demerges into 2 entities by transfer of assets at book value. Section 47 exempts such transactions from capital gains.

One of the demerged entities transfers all such assets to an overseas SPV.

Will this transfer be tax exempt, though SPV continues to be wholly owned or 75%+ owned subsidiary of the demerged company.

Pl comment with references to the case laws.

hi my dear friends & adviser
i am a student of pcc.for examination nov.2008. i had cleared my cpt in feb2007 & from march20 i started my articleship.now before a month a letter from institute came to me regarding re-registration because of non-vacancy.actually in my firm there were some articled who finished their training already but not terminated in the eye's of institute. then i submitted their form of completion of articleship so that in place of those i may continue my articleship. but i have not got any reply even after 15-20 days.
pleas suggest me i am really anxious & because of which i am not concentrating my study.
urgent reply me on:-impankaj19892caclubindia.com

hi my dear friends & adviser
i am a student of pcc.for examination nov.2008. i had cleared my cpt in feb2007 & from march20 i started my articleship.now before a month a letter from institute came to me regarding re-registration because of non-vacancy.actually in my firm there were some articled who finished their training already but not terminated in the eye's of institute. then i submitted their form of completion of articleship so that in place of those i may continue my articleship. but i have not got any reply even after 15-20 days.
pleas suggest me i am really anxious & because of which i am not concentrating my study.
urgent reply me on:-impankaj19892caclubindia.com

I PASEED CPT IN NOV 06 NOW IAM UNDER ARTICLESHIP & ALSO STUDENT OF B.COM REGULAR CAN I DO ICWAI WITHOUT PRIOR PERMISSION OF ICAI

A construction company is outsourcing the job of marketing and sales promotion to another firm. In this case the construction company has to pay Service Tax. What is the service tax applicability, if the Construction Company and Firm make a joint venture for marketing and sale promotion?

An assessee hold terrace rights of a residential house property in Delhi and during the F.Y. 2006-2007, he sold such terrace rights. Out of the sale proceeds, he purchased three flats in a residential complex at Mumbai. One flat on 6th floor, second at 7th floor and third at 9th floor. He converted flats at 6th & 7th floors in a duplex flat and have a combined registry for both flats. He have a separate registry for third flat. All these flats are self-occupied for his residential purpose. My query is that whether he can claim exemption u/s. 54F claiming all these flats as a single residential unit?

A trader started business on 01.10.2006. He got voluntarily regisatered on 15.11.2006 (by paying Rs.5,000). Till 15.11.2006 he made purchases worth Rs.3,00,000/-, but no sales.
Now, after getting registered, when he sales these goods purchased upto 15.11.2006, whether he will get set off on purchases ?

For the F.Y. 2005-2006, A dealer had excess credit available Rs.1,10,000/-. He carried forward it to F.Y. 2006-2007, instead of claiming refund.
Now for 01.10.2006 to 31.03.2007, whether he should file Six monthly return or monthly return ?

my friend has completed his 1st group in CA Final. he wanted to know, from where he can do MBA which have good value & will help him in Ca Profession also. He wants to do from IGNOU but they require 3 Yrs expierence. plss suggest MBA fom good place(Distant Learning)

from sushant

Dear sir/s,

We are dealing in aluminium fabrication work and getting work contract from our clients for the project like commercial, residential, industrial, institutional, hotels etc.. In India we got the information that some fabricators are doing this activity under service tax and some are under excise.

As specially we are getting the contract for Aluminium Doors, Windows, Partitions, Glazing, Cladding etc. and working as per the client's requirement and specifications. We make the particulars some times at party's site and some times under our premises.

For this kind of projects 1st we get the work order from the party and than as per their requirement and specs. we procure the material and than do cut the aluminium sections. Than after we assamble the material. To assamble we required the materials like Aluminium Sections, Glass and hardware materials. And for all these we give the job work to labour contractor.

Now our question is that is this activity under service tax or excise?

Thanking you and waiting for your reply and very oblidge for the same.

Dhaval Sheth.