the group of some persons like about to 40 join together & then decided to contribute 1000/- p.m per person.
a proposal is given that the money will be used to help the members of the group at the time of need at the lower rate of interest 7 said interest will be divided between such members.
they want to do theses through a bank account not by cash, my question is that what will be the taxation of such group & under whom name the bank account will be open.

the angles of a triangle are in the ratio 2:7:11. the angles are

Dear Experts,

Our company has purchased 2 swipe (pos machine). What would be accounting entry for this. swipe machine comes under fixed assest or not.

Please guide me .

. IF A PARTNERSHIP FIRM,WHICH IS DOING BUSINESS OF LAND DEVELOPMENTS APPLIES FOR CONVERSION OF LAND (WHICH IS IN FIXED ASSETS; NOT AS A CLOSING STOCK) INTO RESIDENTIAL ZONE; WHETHER CAPITAL GAINS IS LEVIABLE OR NOT. IF YES, WHETHER IT IS APPLICABLE AT THE TIME OF APPLICATION FOR CONVERSION OR AT THE TIME OF SANCTION BY THE AUTHORITIES.

I have to migrate registration of sonepat branch and head office is in delhi. While filling details of principal place of business i should mention sonepat or delhi?? As i am migrating registration of sonepat branch...

dear sir whether may cilent has paid remuneration to partners and he is audited 44 AB whether he has deducted tds from remuneration of Rs 500000 per annum.it is deducted audited case or non audited case.

. IF A PARTNERSHIP FIRM, APPLIES FOR CONVERSION OF AGRICULTURAL LAND (WHICH IS IN FIXED ASSETS) INTO RESIDENTIAL ZONE; WHETHER CAPITAL GAINS IS LEVIABLE OR NOT. IF YES, WHETHER IT IS APPLICABLE AT THE TIME OF APPLICATION FOR CONVERSION OR AT THE TIME OF SANCTION BY THE AUTHORITIES.

Is mutual fund after maturity taxable? If yes then under which head of income?

I was looking to takeover my cash credit loan from hdfc bank to axis bank. Having completed all formalities, HDFC bank has claimed that they will charge me @4% of total loan limit as pre payment charges.
From the limit information that I have gathered, banks must not levy such charges as per notification no. RBI/2013-14/582
DBOD. Dir.BC.No.110/13.03.00/2013-14

The cc account is a floating rate account in the sense that it is linked to the base rate. It would qualify in the corporate sector as well. The only problem with the same is that i am using the funds from axis bank to repay the loan of hdfc bank. In my research, i had found that if the funds are repaid using own funds, the primary lender has no option but to release property documents. However, i am not assured about the source and logic of the same.

The sanction letter reads that
1) HDFC bank would levy annual charges, pre closure charges and penal charges in case of an event of default, as per the facility documents/ Master facility Agreement/term loan agreement.

2)working capital facilities are payable on demand and are subject to annual renewal. Renewal documents are to be submitted 60 days prior to the due date as mentioned above. Banks reserve the right to charge an additional interest @2% in case the documents are not submitted within the due date. This would be over and above any additional charge/penal rate, if any, that may have been levied to the Borrower.

Will i get relief if i approach tax ombudsman or consumer court?

Dear Sir,
In case of pharmaceutical company, I came across a invoice in which sale price as well as MRP both are disclosed. Sale price is lower than the MRP as per invoice. But VAT is calculated on MRP value and not sale value after deducting discount.
Is the process followed is correct ?
According to me, it should be charged on the Net Sale Value and not MRP.
Kindly guide me regarding the same.

Thanking You.