We undertake LPG cylinder testing (statutory requirement)and painting contract. We are registered under Karnataka VAT Act. Hydro testing is purely labour oriented but painting includes materials. it is a composite contract & what is the VAT Liability involved under the Karnataka VAT act & whether we are liable to charge service tax on this service

Hi,

My Query: In the loan agreement there are two borrowers A and B and the property is in the name of B. In disbursement letter name of only A is mentioned. The interest is debited from Bank Account of A. Can the deduction under section 24 of Rs. 150000 claimed by B if he shows the payment of interest by a cheque to A. In the interest certificate name of bothe A and B appears. Pls. clarify

What about the tax treatment of Lic matured is it taxable ...

if an individual assessee has paid self assessment tax before 31st july and files the return on 15 october same year,then will it attract any interest under sec 234A considering the fact that the whole of tax has been paid.Tax liability is RS.4500.
Please give the reason in support of your answer.

How to claim Service tax refund in Service tax return.

Can we adjust the excess payment of service tax paid in last year with the service tax liability of this year.

Some shares have been jointly held by husband and wife.Hudband dies.Can wife held those shares on her single name? What is the procedure for this? Is she requied to change her Demat A/c or can she continue with the old one? I the lady transfers the shares to her daughter, is daughter liable to Caital gain tax?

I have to pay self assessment tax of 666/- .have i to pay interest on this amount before 31st july.
regards
Goel

Hello

Shares of an Indian Company are say for instance 100. 99 shares are held by a foreign public company. 1 share is held by an individual in India.Is Section 4(7) attracted?

Will your answer be different if the individual in India is holding shares in nominee capacity.

Will number of members and directors be required to be increased to comply with 4(7)

Please advice. Thank you.

Dear experts,

when we make inter state sale, without C form we used to charge VAT on regular rates.

Shall we adjust this output tax against Input credit availale or we have to remitt. in cash to Govt.

pl help.

Can derivatives losses be shown as income/(loss)from other sources so as to adjust agt salary income?Business income cannot be adjusted agt salary income.