if profit added by the buyer to resell the goods is as a % of cost price to him ,then the vat paid by him should be included in the cost price???? or

the cost for adding th eprofit will be excluding vat paid??

As per provisions in the companies act, it is specifically mentioned that if a company incurs loss during the year, it can still declare dividend out of past reserves provided it fulfills all the 3 conditions.

1 condition out of that is - Max dividend which a company can declare in case of loss is - Average Rate of last 5 years dividend paid or 10% of paid up capital, whichever is less

Then how come a listed company like Indiabulls Securities (Auditor - Deloitte) declared 100% dividend for FY09 even though it reported net loss for that year.

Could some expert please enlighten me with the rules for distributing dividend in case of loss.

Dear all,

My Question is....

Income Tax Department has a separate investigation department. Is Service Tax Department has any investigation department?

Plz Reply.

is there any percentages application for basic pay, da etc. we are paying to our employee rs. 13333 per month as salary (1.6lacs) + medical insurance rs. 790 per annum, pls help me preparing a break up ?

A.O. issued the notice for A.Y.2008-09 on 21/06/2010 ,(after the time limit)now what to do as he served one more notice to assess income u/s144
As original notice is not valid ,what to do.???
Please give some case reference for the same???

Whether tax on freight ( Sea Freight ) is to be deducted eventhough the company providing sea transport facility quote PAN in its bill?

Dear Sir,

seeking your advise on the below:

we are in hotel industry. We are registered under AP VAT and Service Tax (Mandap Keepers). On Banquet Billing we need to charge VAT and Service Tax also. with regard to this we are seeking your advise on the below:

1) Do we need to calculate Service Tax on VAT also ? and

2) Do we need to calculate VAT on Service Tax?

Dear Friends,

I have my Final attempt due in Nov.2012 .

I am not able to decide when to commence my coaching . I am staying at Chennai.

Can u help me out regarding this issue !!!

Suppose i provide services in relation to immovable property which is located outside India.& i received consideration in Indian currency.

So my question is that whether this will tantamount to Export of Service under service tax export Rule 2005

Please reply as earliest possible.

Thanks in Advance

1.Our company XYZ LLP owns empty commercial land 20,000 Sqft Land (bought 25yrs back for only Rs 1lac). Our biz is in the biz of dealers in Industrial supplies. We have possessed the land in our books for the last 25yrs as only a capital asset. We now want to get into a Joint development with a developer to build aprts on this land@60/40 Ratio. Will the sale of our share of built up aprts and UDS of land be construed as CAPITAL GAINS or BUSINESS INCOME? Any insights will really help. Thank you