Sir we are planing to import plant and machinery for new manufacturing unit under EPCG .

for that how much bank guarantee is required to give full amount of duty saved or any concession is available to manufacturer.

Please give clarification on it as early as possible...

My client received notice from ITD for non filling of return of FY12-13 & 13-14. no section is on notice. Under "Submit Compliance Form" I have to submit the details. No taxable income that's why I filled income exempt from tax. but It also ask one more information under the same option as below:
S.No- FY- Information Code- Information description-
1- 12-13- CIB-403- Time Deposit exceeding Rs. 2,00,000/- with a Banking Company-
2- 12-13- CIB-410- Deposit In Cash aggregating Rs. 2,00,000/- or more, with a banking company-

I can't understand above two option. kindly help me out as my client said there was no any taxable income during FY 12-13, then why ITD asks for above details.

can epf withdrawled wothout employers signature

Hello friends,

I want to take chapter wise(later on the whole syllabus) mock exams simultaneously with coaching for CA Final.
At present I am taking coaching for SFM subject. Please suggest me where to have mock exams to score the best in exams which reflects the feel of real exam of ICAI (in terms of paper and correction).

Thanks in advance

we are exciseable mfg. unit we purchase m/c capital goods in invoice excise duty charges by party. we are 50% cenvat credit first year and 50% next Financial year.

my query 50% claim cenvat credit we can not charges depreciation and next year 50% duty claim not depreciation in income tax. audit authority said you have full depreciation not claim in excise amount in first year. you have to pay excise duty

for example :-
Purchase Capital Ass. Value FY 1415 Rs. 100000
Excise Duty 12.5% 12500
Total amount 112500

we claim 50% cenvat duty FY 1415 Rs. 6250
and remaining Cenvat Duty FY 1516 Rs. 6250

we Claim depreciation only on Rs. 106250 first year FY 1415 not 50% cenvat credit during FY Cenvat 6250.00 and show in BL. Next year we claim Depreciation FY 1516 only on Rs. 100000/- after remaining 50% cenvat less Rs. 6250.00 which is show in BL.

audit party said you have 50% credit in FY 1415 Rs. 6250/- it is ok but you have not claim depreciation on Rs. 106250.00 you have claim only. FY. 1415 Rs. 100000.00. and he is deny the total credit avail which is FY 1415 Rs. 6250/- & FY 1516 Rs. 6250/- Both Year .

which rule he is deny the credit or any circular pl. provide

devang shah

Hi Everyone,
Pls help:

My company has signed consultancy agreement, another one for technical services. My question is whether payment made under such agreement will be covered under 194J @ 10% TDS or under 194C @2% TDS.
Though it is a contract, so it should be covered under 194C, but nature of service is technical and professional service, so it should be covered under 194J.
I am bit confused.
Kindly help.
What if i deduct TDS @ 10% on safer side u/s 194J?

I wish to import certain mobile accessories like power bank and mobile adapters in SKD. Do it will save import duty?

Do I need an Excise registration for assembly thereof ?

If we convert a Pvt Ltd company having FDI into a LLP, whether we have to intimate RBI or any other formality with RBI?? The company is operating in 100% automatic route.

Dear Sir's/Expert.

We have Purchased the Gear Oil, from the Local (regd. under Excise& VAT) Dealer,

He Charged ED As well as VAT. on the Gearl oil.

As per the ED definition: Sec. 2(k) of the Inputs of Cenvat,: its not specifically included. so i have availed the ED & now the VAT part, as its used in the manufacturing, i am availing as a inputs under TNVAT ACT. Kindly Reply.

Whether i am eligible to avail under Both ED as well as VAT.

Can anyone please tell that if the income received outside India by the resident (ROR) would be taxable or not. If the same is taxable, please mention under which section it would be taxable as section 5(1) does not specify about it.