I wanna know each and everything about trust for benefit of children....what is procedure to create,how to proceed,what are the benefits.Is there any registration requirement......what is tax planning here....??pls pls pls help me

dear experts,

kindly let me knw which Act is applicable to "public charitable trust???

thanks in advance

Please can anyone tell me excise duty is recorded in the books considering cess or not.
e.g Purchase worth 602910
Excise Duty @ 12% 72349.2
E.Cess @2% 1446
SAH E.Cess @ 1% 723.49
Now journal will be :
Purchase Dr. 602910
CCR Dr (Plz confirm this amt will be including cess or not)
To Party

Form 8 to be filed with in 30 days from the date of BR or from the date of Agreement? that is what is the date of Creation of Charge. I think the date of execution of Agreement is the date of creation of charge. Correct me

a manufacturing company transports its own products to customer's premises and charges the freight in the bill.company uses its own vehicles for the purpose. Will this amount to provision of service? is the said service taxable in the hands of the company?

I have LIC policy whose insurance premium due date is in March Month. Suppose i make payment of premium in April month (Within grace period of due date) whether i can claim the payment made in April (Due date March) as investment made for previous year (i.e. prior to April month).

Or the investment made in any financial year are taken on the basis of payment dates irrespective of INVESTMENT /LIC due date.

TDS is deducted on remuneration paid to directors us. 194J, but it should have been deducted us. 192. Since already the TDS Returns are filed, how to show the same in Income Tax returns and should TDS Returns be amended?

Assume that XYZ had a company stock 100 nos with him. The relevant details are :

Date of Purchase XYZ is August, 2010
Purchase Cost in August, 2010 @ Rs.1500 per stock for 100 Nos..... Rs. 150000/-
Date of Transfer to CDE (As GIFT) is August, 2012
Market Value on the date of transfer i.e. August 2012 is @ Rs. 1200 is Rs. 120000/-

CASE (A) CDE is selling those stock to day in Jan, 2013
market value of that stock today i.e. in Jan 2013 is Rs. 1000
So selling cost for CDE for 100 Nos is 100 x 1000 = Rs. 100000/-
Purchase cost (Transfe cost by XYZ to CDE) in Augsut, 2012 = Rs. 120000/-
SO THE LOSS INCURRED BY CDE is Rs. 120000 - Rs. 100000 = Rs. 20000 (Short Term)

Which is the tight way to consider
Becuase in tax Angle?

What is the difference between both.


if I have one kid...and I have paid 5000/- in the year on his education. how will I show it in tax computation?

will I get 1200/- as Edu. Allowance & 5000/- can be shown under tution fee (80C)?

Can we Debited the Interest on late payment of Direct Tax & Indirect Tax to Profit & Loss a/c ( like TDS & Service Tax)?