What are the tax implication if

a) a non resident investor transfers his individual shareholding in an Indian Pvt Ltd company to his 100% owned company registered out of India.

b) What if he transfers the shares at the same value at which he subscribed these shares at the time of formation of the company in India?

c) Doe she liable for tax against transfer of shares of Indian Pvt Ltd company to his own company (100% owned by him) out of India?

one of relative is engaged in running a dairy with 20-25 cattle ie cow and he has stated his work with 2-3 cattle only since along time.at present his earning is sale of milk only . The total value of all the cattle are Rs.20.00 lac approx. now he want to wind-up his diary business.
my question is that the consideration received against sale of cattle's is taxable under the income tax and which type of document he have to prepare as proof of sale so that income document may be shown to income tax department in future .

Who can get Tax invoice..?

i am dealing in computer & related product & pay sales tax regularly.

now my question is
can i get a Tax invoice if i purchase a TV for office & get input credit..?

Dear All,

We have recruited one of employee for Rs 1 Lacs and nature of employment is as consultant
Break up is Rs 75 K towards professional fee, 25 K towards Rent free accommodation.
Now as a 25 K should i account under Rent expenses or Professional fees.

Please confirm the complete accounting entries

Dear Experts
My query is whether there is a liablity to reverse Cenvat Credit on capital goods which are rented out to other company

For doing service charges for AMC
service tax Registration no is compulsory?

In the service bill if we are not charging service tax and no Registration no. shall we put the note ( service tax exempted under notification no.33/2012 dt.20.06.2012)

Please suggest

how to make service tax entry in tally while ppreparing purchase entry ??

1) as per the definition of 'Input Service' inword transportation & outward transportation upto place of removal eligible for Cenvat Credit.

2) Sr. No. 7 of Notification No. 26/2012-ST dated 20.06.2012 states 'No Cenvat Credit' available if Service Tax paid on 25% of amount charged. (Abatement Scheme) and it will be treated as 'Exempted Service' and will be taken for the calculation under Rule 6 of CCR.

3) Under 'Reverse Charge' If Consignor, Consignee who is liable to pay freight is a company, then it is liable to pay Service Tax on GTA Service on 25% value, if GTA not availing Cenvat Credit, subject to obtaining a Certificate from GTA, otherwise, liable to pay on 100% value

4) as per the definition of 'Output Service' Services on which whole Service Tax Payable under reverse Charge is not an 'Output Service'

my query is

1) If we paid Service Tax under 'Reverse Charge' on 25% of amount charged, can we take Cenvat Credit on 'Inward Transportation', if not

2) Can we pay Service Tax on 100% of amount charged and avail Cenvat Credit on 'Inward Transportation.

A Non Resident Indian has returned to India for good in April 2013 after being abroad for about 20 years. Please clarify whether
1. His NRE deposits will continue to run as NRE deposits for the remaining period of maturity which is about 4 years (Bank is intimated about the return)
2. Interest on NRE deposits is taxable from the FY 2013-14 onwards
3. If the NRE deposit interest is taxable, is there any concessional rate of tax available?
Thanks in advance

Sir/Madam,

My client's father sold an ancestral property
in which my client has undivided equal share and received rs.30 lakhs as his share.


Now tell me what is the treatment of above issue in income tax?

Thanking you.