Hi Expert,

Need your Notion on below Issue:

Whether Loss of SEZ units can be setoff from profits of non eligible units? if no then excess expenditure of SEZ units needs to be disallowed in ITR return?

Regards
Gaurav

Respected Experts

A company had taken 3 month Forwards Contract for $1000 on 1/11/2009 FC Rate 46.6 RBI on that date 46.2 and on 1/12/2009 another FC cover was taken (3 months )for $1000 the company paid the first amount $ 1000 on 1/2/2010..

Please show the Entry to passed on 1/2/2010
when ..

As per finance Bill 2010, Service tax on rent of immovable property as been introduced retrospectivly.

Pl advise, whether service tax is to be deposited with department for prior period along with interest on service tax or without interest?

regds

Hello Friends,

My Company has taken a building on lease in Mumbai and out of which we have sublet some portion. Kindly guide be about taxability of service tax on this mater.

PLEASE NOT WE HAVE NOT BEFORE PAID ANY SERVICE TAX ON THIS TRANXTION.

WHETHER SERVICE TAX WILL APPLICABLE ON MY COMPANY IF YES WHETHER ON LEASE RENT OR ON SUBLET RENT INCOME AND FROM WHICH DATE WE WILL COVER UNDER THIS SERVICE.

Sir,
If inadvertently a purchase of fixed asset is treated as purchases and return filed claiming full deduction then , what would be its tax consequences . ( Return Filed Within Time )

I AM GIVING SALARY TO MY ACCOUNTANT @ Rs 15,000/- PER MONTH & I HAVE NOT YET DEDUCTED TDS.
TELL ME WHAT AMOUNT OF TDS I HAVE TO DEDUCT ON HIS MARCH PAYMENT.
ALSO TELL ME THE DEPOSIT DATE OF TDS.

What is LLP? Which entity may be converted into LLp and how



Regards
Shachee

we are a company regd under sec 25 ( with limited liability )of the Companies Act with a Capital outlay of Rs 40 crore and main object being to promote the system of discharge of the treated effluent water . We have a query and need to know :

1.What provision governs the contribution from the memebrs of the Company on account of membership fees .

2. Can we also accept deposits (interest free) and if yes ,what are the related provisions governing the deposit acceptance.

3. Can we also take unsecured loans from the members ( Interest free) which are repayable to them out of the contribution recd.from members.

4. We will receieve capital subsidy from the govt . Can the loans from members be repaid out of the capital subsidy recd from the govt.

Pls give your expert opinion the sited queries.

Where a firm is succeeded by a company in the business carried on by it as a result of which the firm sells or otherwise transfers any capital asset or intangible asset to the company will not be transfer :

Provided that -(b) All the partners of the firm immediately before the succession become the shareholders of the company in the same proportion in which their capital accounts stood in the books of the firm on the date of succession; and

(d) The aggregate of the shareholding in the company of the partners of the firm is not less than fifty per cent of the total voting power in the company and their share holding continues to be as such for a period of five years from the date of the succession;

Here firm is converted in company as chapter IX co.There should be minimum 7 subscribers to form co. under chapter IX.

As per income tax, one condition is all the partners of the firm become the shareholders of Co. on the date of succession. and other is partners who become shareholder must hold at least 50% till the expiry of 5 years .

My question is that whether it is compulsory that all 7 shareholders should hold the shares till five years. if any shareholder wants to transfer his share to exising shareholder or to new person he can do so or not provided due care should be taken that original partners should hold at least 50% voting rights.

Dear Experts,

Actually my client is into granite manufacturing business and they have central excise registration certificate.
1)they paid audit fee to statutaiary auditor. Statutaiary auditor charged service tax in their bill.
2)our client appointed a internal auditor and he been paid monthly internal audit fee,internal auditor charges service tax.

My querry is wheather input service tax can be claimed or not.

Please give your advice with explaination.

Regads,

Singh.K
Consultant.