Dear sir,

There is new provision relating to purchase of immovable property. if the property value exceeds 50lakhs then 1% TDS should be deducted.
If Mr.X purchases a land costing 95Lakhs. The land is under Co-owner ship( three persons are owners for that particular land). While paying Consideration to those CO-owners, Mr.X have any responsibility to deduct TDS under Sec-194IA ?


Pls reply me Sir..

The bill is passed by rajyasabha
now is the new act applicable for the fy 2012-13

While incorporating a new company, in which e-form the declaration cum affidavit from directors should be attached.

A Ltd. is manufacturing unit. Now A Ltd. gets for factory building repair work. for that A ltd. gets service of labour contractor. then what will be the liability of A Ltd. & if there is any service tax then can A Ltd. can avail credit of such tax?

Sir, what tax provisions would be applicable in the books of closely held company, if it issues shares to a resident at face value and not market value.
Eg-
Share Capital and Free reserves of company are 3,87,00,000/- and it has existing share capital of Rs.10,00,000/- divided into shares of Rs. 100/- each. This Company issues fresh shares Rs. 100/-each to existing share holders.
What would be tax implications in the hands of Company and shareholders.

Thank you
Best Regards

Hi,
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