What is the process/steps for change of name of an existing company.What are the forms to be filled to MCA. How long does it takes to get the name approved from MCA.

tHANKS

Are the Banks liable to deduct TDS under Sec 194A for FD's created by Government Units (for eg. Indian Army invested funds in Bank)??

If TDS is not required to be deducted then what is the correspondence to be given to the Bank for not deducting the TDS??

Dear Sirs,

Please reply for the following query considering the below facts.
1. Interest Income Rs.10,00,000/-
2. Interest paid on Overdraft Rs.5,00,000/-

As per assess, Assess took the OD for earn some extra interest. He wants to adjust the interest exp. from interest income. He want to pay tax on Rs.5,00,000/- (Rs.10,00,000-Rs.5,00,000)

My contention: Interest income taxable under the head “Income from other source” therefore we should not allow interest on OD as a exp., we should not deduct it from income. But assess contention that he took OD for earn this interest income, principal of nature of justice, exp. should be deduct from income.

Please advise on the above matter in the light of Income tax provisions.

Why we require shop & establishment licence?
suppose M/S abc is PF & registered office is at 1 place, but no business activities has been carried from this place. The main activities is from some other place which is on rent .I want to know whether in this case M/S abc is required to obtain shop & establishment licence? if Yes, then on which place of business whether Reg. office or rented premises?

We are 100% EOU Unit we are clearing goods to DTA on the payment of Applicable Duty
Duty Structure Like this
1.BCD- 10% 50% exemption
2.CVD- 12%
3.Edu cess-2%
4.SHE cess-1%
5.Edu cess -2%
6.SHE cess- 1%

which are the duties in mentioned above are eligible CENVAT Credit?

In respect of Sale of Residential House, exemption under section 54 is applicable when the sale proceed is invested in Residential House.
1. Please confirm whether it is restricted to only one residential house or more than one.
2. cases in favour of assessee (KC Kaushik 185 ITR 499 (Mum.)) and against assessee (D.Anand Basappa 91 ITD 53 (Ban.))
Kindly give your valuable opinion to advise the client.

Hi All

one of my client has sold his club membership. whether this is taxable under the head Capital Gain.

please refer relevat case laws.

Please reply ASAP. its urgent

Thanks

I JUST WANT TO KNOW THAT WHAT TO DO IF I HAVE TO TAKE TRANSFER IN 1ST YEAR OF ARTICLE SHIP AND I HADN'T YET RECEIVED THE REGISTRATION LETTER FROM ICAI. BUT I M REGISTERED AS I HAD CHECKED IT ONLINE. I HAVE COMPLETED MY 5 MONTHS TRAINING.

I m filing return online but how to show speculation loss in itr 4?
as it doesnt catch negative figures..?

Note on difficulties faced in submitting Income Tax Return for an Assessee settled and residing in USA.

Assessee is a citizen of USA and has interest income in India. He is assessed to tax with International Taxation Division at Scindia House, MUMBAI.

Assessee has authorized his Brother to sign all documents and operate his Bank account through a Power of Attorney and Income tax Returns up to A.Y. 2011 – 12 were submitted manually. Income Tax Return for A.Y. 2012 – 13 was electronically submitted and ITR V, duly signed by POA holder, was sent to CPC Bangalore.

POA holder’s name is mentioned under verification clause and return generated for A.Y. 2013 – 14, but the same is not accepted by CPC Bangalore for mismatch of verification clause.

In this connection, we had a talk with CPC BANGALORE and they insist on the ITR V and return to be signed by the Assessee or to verify the return under a Digital Signature.

Section 140 (a) (ii) allows the Return to be signed by an authorized person in case Assessee is absent from India.

Assessee’s case is squarely covered by the above provision and CPC Bangalore should accept the return duly verified by a duly authorized person.

For Assessment year, 13 – 14 assessee is required to furnish the return electronically and hence the above query.