Every listed company is required to obtain a user id and password from SEBI for Compliance with Scores, however I want to know
1. What would be consequences if a company not get the user id and password in due time.
2. Can company apply for the same after due date
3. What would be amount of penalty (if any)

Thank you in advance

Hello!

I have income from other sources. Also, I have losses from F&O transactions of around Rs. 17000/-. I need to file ITR-4 but its utility (as downloaded from department's site) is not accepting negative figures. Please help.

Further, I came to know that for claiming F&O losses, one needs to have his accounts audited irrespective of the amount of loss. Is it the case?

Please clarify.

Is Income received by labour contractor is income from other sources (commission) since he is charges service charges for his services or is it income from business or profession. Whether such person can file ITR 1 (Sahaj)

If we have a multioptional deposit ( Saving account which automatically convert into FD if balance in accounts execeeds certain limit and dissolve the same if balance in bank below certain limit ) , in whole year for sometym it is FDR ad for some tym Saving ..So interest on the same will be considered as INTEREST ON SAVING BANK ACC. OR INTEREST ON FDR. Which TDS provision, Intt on fdr or Interest on saving bank account , is applicable .

what is vat & Service Tax % in Construciton industry in f.y. 2010-11 plz reply immediately

R/All,

We were working as proprietorship firm from year 2004 and same has been converted in pvt. ltd. concern from july 2011. All assets and liabilities of prop. Firm has been taking over by pvt. ltd. concern.

As we are in process of excise audit, auditor have raise following queries-

01 Some of our suppliers have raised invoice in the name of prop. Concern in the month of Oct. and Nov. 11. We have availed CENVET credit of same bill. Do it will be disallowed.

02 Excise auditors are asking for bill of Commission paid, we have paid commission
to individuals and deduct TDS on the same. Individuals do not have service tax registration and did not provide bills for commission. We have deducted tax and deposit and provide PAN nos. of individuals to ITD in our audit report. Can it be disallowed and do Excise auditors are concerned in this regard.

03 Credit of service tax has been utilized as CENVET input. It is allowed or not.

Kindly suggest ASAP as excise audit is in progress and auditors are creating presser on account dept. by asking for documents, related to Income tax only.

Regards

Anuj Verma

A company has created a provision for expenditure in last 4 financial years . In current financial year it comes to know that there was no need to create provision for that expenditure at all as it was not applicable to the company. Now the whole provision created in last 4 years have been written back. Whether this write back income is prior period or not?

I had rcvd the intimation under section 143(1) for AY 2012-13 last week. I realized that my deductions from the bank were not taken into account as I have wrongly input TDS by the bank in the advance tax column. So there is a demand for tax to be paid. Is there a way to rectify this? Should I refile...I am not sure what to do...pls help

can we utilize share premium account for issuing of bonus share, currently if company do not have equity share premium but have issued convertible preference at a premium (fully paid)
my query is
1. can security premium of pref shares can be used for issue of bonus
2. whether pref.shares need to be converted into equity share before issue of bonus share?
3. is bonus shares are required to be issued when in future year the pref shares are converted into equity
4.Are there any guidelines for issue of bonus share by pvt.co.?

GOOD MORNING SIR\MADAM
CAN YOU SOLVE MY PROBLEM IN SERVICE TAX MATTER. OUR NEWLY COMPANY SITUATED IN UTTARAKHAND. WE HAVE NO REGISTRATION OF SERVICE TAX . THEN WE RECEIVED A GRN. AMOUNT IS 25 THOUSAND. THEN AS PER REVERSE CHARGES SERVICE TAX ON GTA WILL BE DEPOSITED BY SERVICE RECEIVER. BUT I HAVE NO SERVICE TAX NO. YET.THEN CAN I WILL MAKE ENTRY IN MY BOOKS WITHOUT ADD SERVICE TAX IN GRN.
OR AT THE TIME OF MAKING ENTRY BOOKS I WILL ADD SERVICE TAX ON GRN AND WHEN I WILL RECEIVE ST2 FROM SERVICE TAX DEPARTMENT THEN I WILL DEPOSIT IT WITH INTEREST @18%.
PLEASE ADVISE