One of my US based friend (not NRI or PIO, but proper American citizen) is willing to lend me some money for my business. I can repay him back as and when I can.

I want to know would be the taxability aspects in this.

Would be grateful if someone can guide me on this.

Thanks..

what is due date for payment of service tax for the month of march

This doubt is in reference with Amalgamation and Treatment of Reserves, specifically while calculating purchase consideration pooling of interest method.

Issue:

When two companies amalgamate and we follow 'Pooling Interest Method', the difference between the amt recorded as share capital issued (by transferee)and share capital of transferor company is adjusted against the reserves available.

Doubt:

> What if the reserves are too less to adjust the difference amount?
> In which account head we should show 'Negative Reserve' (since we can't create 'Goodwill' under pooling of interest method)

Thanks.
-Shagun Borgaonkar

Which form should be used for estimated business income. and what should. be its nature of business code

I have completed 8 months of articleship and due to unavoidable circumstances i have taken a leave of 3 months.
Due to non-coverage of all arenas of work and limited work scope, I want to apply for transfer of articleship.
If my principal intimates the institute about my leave,can my leave become a reason for not getting the transfer?
Will the institute restrict me from taking transfer?

PRODUCT CHAPTER HEADING IS - 21012090 AND 21011190

WE TAKE CENVAT CREDIT AND EXPORT UNDER REBATE

BUT IN FIRST TWO SHIPMENT

WE DEBITED EXCISE DUTY IN 2.06% IN ARE 1

AND AFTER 1 DAY WE PAID BALANCE 4.12%

CAN I GET REBATE OF THIS WRONG CALCULATION ENTRY

OUR EXCISE DUTY RATE IS - 6.18%

SIR PLEASE CLARIFY WE CAN GET REBATE OF THIS FIRST TWO SHIPMENT

insurance for the period 01.10.04 to 30.09.05 rs. 20000
subscription for the period 01.07.04 to 30.06.05 rs.12000
annual maintenance charge for the period 01.02.05 to 31.01.06 rs 18000
calculate the prepaid expenses for year ended 31.03.2005 and pass entry

Sir

Please tell me last date of deposit TDS for the month of march 2013, and also last date of file TDS return for 4Th Quarter 2012-13.

Thanks

Mukesh Kumar

The LLP wants to change Name of LLP and Registered office and admission and cessation of partner can any one tell the procedure

WE have received a notice for levy of penalty of Rs.10,000 for non-filing of Stock-1. AS per the circular that was issued, it was stated that if no Stock-1 is filed, it will be presumed that Stock is Nil. There is no transaction in the firm for the last 2-3 years and the stock and hence, we did not file Stock-1. Then why this penalty and under which sub section of 86 is also not clear? Please advise..