dear expert sir/madam,
Me and my friend started a consultancy firm as a pvt. ltd company.only two of us are the director of company for 50:50%. i want to ask when we earn money than after paying tax and all the expenses like ( payments of directors, payment of employees, rent, other expenses). can we both director the remaining money for self as we want if yes than how ? because we both want to buy home and our all money is coming to our company account.

Sir,
I have registered both group of IPCC in 28/01/2010 Can i eligible to apply November 2013 ipcc examination?
Or i have to make reregistration for IPCC??

Please Help
Thanks

LABOR CONTRACTOR FOR CONSTRUCTION OF RESIDENTIAL BUNGALOWS CAN BE CLASSIFIED UNDER MAN POWER RECRUITMENT AND SUPPLY AGENCY

A professional individual who comes under audit under sec 44AB has filled his return manually in F.Y 2011-12 and the audit was not being conducted. what is the procedure to revise his return..??
Manual return can only be revised manually and audit parties are mandatory to e-file their return.. what should be done in this case..?

Dear Sir,
I have received intimation from trace demanding interest on late deduction of tds. Actually it happened due to mistake in date. Therefore I have file a revised return within 10 of receiving intimation.
Whether any further step is reqired or not.

Please advise me.

A Case Study:-
Mr.Gupta in Punjab, is a manufacturer of Stainless Steel Ingots.
Mr. Jain has a Plant in Gujarat manufacturing SS Coil.His Raw material is SS Ingots.
Mr. Hari an Iron & Steel Dealer registered to deal in Excisable goods is also in Punjab.
Mr. Hari contacts Mr. Jain that he will procure SS ingots on his behalf,for which he will charge Re 1/- per KG.
Mr. Hari knows Mr. Gupta & places orders for supply of SS Ingots to Mr. Jain.
Mr.Gupta takes E1 Form from Mr.Jain & C form from Mr. Gupta.
Mr.Gupta issues an Excise Invoice showing Mr.Jain as Consignee & Mr. Hari as Buyer. Mr. Jain on receipt of Duplicate copy avails Cenvat involved on the qty received. On receipt of Original copy, Mr. Hari issues a commercial invoice in the name of Mr. Jain adding pre-determined profit of Re 1/- per KG. No entries are made in RG23D.
The freight is either paid by the consignor or the consignee.
Querry:-
Is this merely an E1 / consignment sale.
Where the profit of margins of Mr Hari is already pre-decided on the basis of the qty. sold. Should not Mr Hari be considered
a commission agent under Business Auxillary Service(services of procurement of goods on behalf of the client which is an input for
them)and Service Tax should not be paid by
him on the margins earned on such transactions. Merely the fact that only the invoices and the money is routed through him and no CST/freight/any other costs is borne by this middleman, Why his margins can not be subjected to levy of Service Tax.

respected sir, pls. tell me about sales against 'F'FORM

A company purchased debentures and when the same were redeemed, the company received premium on redemption of same.

Please advise how premium should be accounted for whether it is in nature of interest or profit.

Dear Sir,

I have purchased a house from capital gain u/s 54 from the old house sold. Now bank is ready to provide me home loan refinance agst the same.
1.Whether I can take the loan.If yes is it violates the conditions of Section 54
2.Whether I can take principle and interest payment exemption u/s 24 and 80C.

Please clarify.

Thanks & Regards,

Murli

Can a person buy gold in a company name for her daughter....if yes than can he let out in interest...