Respected Sir,

Purchase of critical spares is kept as stand by spares. can it be capitalized, if so at what point of time it should be capitalized, whether at the time of purchase or that spares put in to use.

Pls provide me with Accounting Standard reference.

Kindly do the needful.

our Company is a Public Ltd Co. and is now venturing into a new business of that of a developer.

1. It will buy/contract out /JV/Lease out land and hire Architects/Engineers etc and construct buildings Resi/Commercial etc.

2. it also intends to take jobs as a contractor and supplier for such construction projects.

3. It also intends to import/purchase/Sale/Export/locally arrange /building materials for the purpose of construction.

4. It intends to Sell/broker/resell etc the constructed area.

Please also note that the Co. is also in several other businesses including Import /Export of different products as Optical Lenses, Software, Forest Materials, Pipes, Valves, Jewellery etc

my query is

1.what should the Main object be for this new business.
2. How many Main object can a company have ? This company already has 3 for the above mentioned continuing businesses.

Dear Sir(s),

My query is that what shall be the treatment of excess amount that we pay to the retiring partner over and above his capital contribution in the partnership firm.....

For instance, there is already a firm having a capital of say Rs 1000/- and now some new partners shall be inducted who shall introduce the capital of say Rs 1500/- and then the old partners shall retire from the firm and shall be paid by the firm Rs 1500/- against their contribution of Rs 1000/-...

My query is what shall be the treatment of Rs 500/- extra/premium paid by the firm to the partners in the hands of the partners?????

Also what shall be the tax treatment, is the firm liable to deduct some TDS etc on such an extra payment????

Please reply ASAP

Thanks & Regards

Dear Sirs,

1. If a DTA unit having duty free import license is eligible for exemption on Customs Duty, ED, VAT when they purchase goods from SEZ unit.

2. SEZ unit's sales to Customs Bonded warehouse is taxable under VAT.

Please give your suggestion.

regards
Dasan

Sir,
Please suggest us how to calculate the rebate of 80G.

Regards,

Sunil Pareek

The director of our co. has 1 HUF and 1 Charitable trust. While filing return of HUF it applied for deduction u/s 80G for the donation made to its charitable trust.
But the department has disallowed it any specific reason for disallowing the same...
please reply urgently.

What is the Tax implication of Buy back of shares on the company as well as on the shareholders. please elaborate.

thanks in anticipation

sir plz guide me..

2 brothers and 3 friend (total five) purchase a land jointly without defining their individual share in registry papers.(but on IT return they have defined there individual share)


now after two years if they sell the land defining their share and all 5 receives their share amt in cheque from purchased.. (5 cheque)..

i consider the owner as co-owner
but AO is of view dat its an AOP and will be taxed flat at max.rate of 30%
is there any justification to AO remark.

I am asking an query by an example.

If company A gives loan to company B which is also shareholder of company A (voting power is more than 10%). And another shareholder of company A is also shareholder of company B (voting power is more than 10%). Then on whom tax liability of deemed dividend generates ? whether it is only on company B or also on another shareholder ?

Can we claim stamp duty and registration charges paid for transfer of plot and other investment?explain all conditons for availing benefits of stamp duty paid.