Can a Dealer purchase capital goods against C form
please reply as soon as possible.

If a consignor pays service tax in his bill & recovers the same from the consignee, will he be justified in charging 10.30 % on the basic freightn rate or should he charge based on abatement value i.e, 10.30 % of 25 % of the basic freight rate charged. If he charges at a higher rate as stated earlier then will corrections in his bill be required.

Sir,

A Proprietor has taken a loan in the name of his business but that loan has been used to start a Partnership Firm in which he and his friends are Partners. Now the problem is that, his own business has not enough profit to show the interest on such loan. Can/should he show an amount equal to such interest as receipt or receivable from such Partnership Firm?
Is this will come as misappropriation of loan?

The above are only from my view, please suggest me if there is any other solutions.

Waiting for your valuable advises.

Thanking You

I have sold my shares in a company (Purchase cost was Rs. 10) in the year of 2007 @ Rs. 100 each. I have received Rs. 50 at the time of sale and for rest of the amount of Rs. 50, i have received an assurance of another company's share at the time of IPO in future. The IPO of that company has come in the year of 2010 and i have received the share @ Rs. 50. Now question is that whether this capital gain is taxable in the year of 2007 or in the year of 2010?

Pls help me for that question.

Thanx

deemed dividend 2(22)(e)
sir i have problem of deemed dividend.a company has given loan to its director of rs 50 lacs whose holding is more then 10%. what can i do for that before 31st march?? pls if possible then reply

i can not let my client to pay tax.
pls advise me.

Is the guest house maintained by a company falls in the definition of Hotel as defined under new Perquisities rules dated 18th dec'09? The definition is as below:

Hotel includes an accommodation licensed by local authority to provide for boarding and lodging like a motel, service apartment or guest houses.



I shall be grateful If the clarification is provided at the earliest before 31st march2010.

Has it became online payment complusory to all assessee? (All the indirect & direct tax payment).

Please confirm whether a Company name as X Y Private Limited can use its name in official records as X Y P Limited( P instead of Private).
Status of COmpany do not change.

Is any approval of RoC required or it will result in name change??

Hi

Whether there is any need to deduct tax at source on payment being made for Turnover Tax. In a specific transaction, BSE bills to its DP for the turnover tax and the DPs makes payment to them. The turnover tax billed to DP is on actual basis where as the DP collects turnover tax from the client (i.e normal person trading in shares) on certain percentage of the trade.

The question is...whether the TDS is to be deducted on payment made to BSE(for turnover tax)? (If yes, under which section?) I suppose, the TDS to be deducted, if any, will be on that amount for which the payment is being made to BSE. Also, the amount has no impact on the P&L of the company. It is routed through Balance sheet. 1st the liability is created when the trade takes place and thereafter on the basis of bill raised by BSE, payment is made by debiting this turnover tax account!

IS THERE ANYONE WHO CAN ANSWER THE FOLLOWING QUESTIONS

1) WHAT IS THE PROCEDURE OF CARRYING OUT VAT AUDIT UNDER MVAT

2) IN A PARTICULAR MONTH SAY JUNE, THE DEALER HAS CHARGED 4% INSTEAD OF 12.5%, SO WHILE CALCULATING INTEREST WHICH PERIOD SHALL BE CONSIDERED JUNE TO MARCH OR ONE MONTH THAT IS MARCH

3) DEALER HAS CONTINUED TO CHARGE THE RATE 4% THROUGHOUT THE YEAR INSTEAD OF 12.5% AND FILED THE RETURNS ACCORDINGLY. WHETHER ALL THE RETURNS SHOULD BE REVISED OR ONLY LAST RETURN THAT IS MARCH SHOULD BE REVISED AND WHAT IS THE MANNER OF INTEREST CALCULATION.

PLEASE GIVE ALL THE INFORMATION THAT U HAVE ON THE MVAT AUDIT PROCEDURE AND MANNER IN WHICH FORM 704 IS TO BE PREPARED