Our company has purchased machinery (whole plant) in lumpsum from another company through agreement 3 years ago. we did not take any input credit on such machine.

Now, we are selling these machines. Do we need to charge excise duty on such invoice. Or will there be any reversal of excise duty.

Guide me about VAT also- factory located in Andhra state.

Thanks in advance.

One of our employee takes the buy out option for one month while relieving now he is asking for Form16 So, shall we considered that one month salary as his earnings?.

Please clarify..

date debit credit bal
01-Jan-12 500000 500000
01-Jan-12 5000 495000
02-Jan-12 25000 470000
03-Jan-12 5000 475000
03-Jan-12 2500 472500
04-Jan-12 5000 477500

Res. Experts...Greetings of the day...
I want date wise balance in excel.. how to do it in excel. e.g. date 01-jan-2012 bal will be 495000.

Mr. X is a Karta of X (HUF) has made a Gift of Rs. 500000/- to X (HUF). The Gift so made is tax free in the hands of X (HUF). Since any amount received by HUF from its member is Exempt from Tax as per the amendments made by Budget 2012. Now I want to clarify the tax impact in the hands of MR. X Karta in his individual Capacity on the Income Earned by HUF on Gifted amount as per Clubbing Provisions of Section 64.

A person has income through transaction in commodity market through recognised stock exchange. Under which head is such income taxable and at what rate is applicable ? CTT is also not levied on such trading.

Please help me out for such situation.

A foreign company wants to open a branch in India through me. They are offering me the position of the country director (a shareholder). Now I want to know the procedure for getting the foreign company registered in India. What are the pros & cons of becoming a shareholder in this company?

Please let me know what happens if the online status shows as "Not Received" though the same has already been sent by ordinary post for the AY 2012-13.

what reason about sensex point going up and down.

When Land and building is sold as a Residential house property wherein land is a long term asset and building is short term. Which section can we take benefit from. Section 54 or 54F or none of these

is tax audit required if there is depreciation loss???