Sir,
I am working with construction company where initially VAT was opted in normal scheme as there was no existense of WCT.For the financial year 2006 - 07 and 2007-08 , we had filled return in the normal scheme (means taking the input credit) but now we had calcullated that if we switch over to WCT Composition scme then there is lot of savings.

Please guide us can we switch over to composition scheme in the mid of contract??

We have investment of 26% of foreign company in an Indian company. Indian company has appointed non exective directors from this foreign company(based in Japan) . We have to reimburse travelling exps of these directors for attending meeting also to pay sitting fees to them. As per DTAA between India and japan it is written that sitting fees may be taxed in India.

Can u please reply as to withholding tax on reimbursement of exps and sitting fees to non executive non resident directors of an Indian company

Dear Expert,

I am dealing one refund case where,Assessee has filied income tax return with refund,same refund as been processed by IT department refund cheque has couried to assessee home,but assessee expired before courier comes,refund cheques was returned back to IT department.now wat procedure to approach IT department to get the refund cheque in the name of Wife

I would like to know the procedure for claiming the Income tax refund of deased assessee by legal representative or legal hair.

Can we use Share Application Money before allotment of shares?

whether tax deducted from material testing fees & what's the percentage? the party who do both the work labour work & material testing work , how to apply tds provision here. only 194c apply or 194c & 194j both apply separetly.party issue separete bill then how tds will apply.

Dear all
I wanna know about the internal control system of some companies related to Banking & Finance, as I want to study their internal control system.

What approach should I adopt to-
1. Get Information about the companies those have strong Internal controls.
2. Get an overview of their internal controls.
3. Visit them to see their internal controls.

DEAR ALL

IF VAT IS CHARGED ON PURCHASE OF F.A. THEN I DONOT THINK IT WILL BE ALLOWED AS INPUT CREDIT FOR THE PURCHASER.

MY QUERY IS VAT WILL BE ADDED TO THE COST OF THE F.A. OR NOT ??????

dear all

suppose after payment to creditors at the year end the balance remains rs.23/-

what entry should be passed to write it off ?????

i think it should be
creditors ac-----dr
To indirect incomes a/c

If the capital asset is sold on 28/02/2009 and LTCG of Rs. 1,20,00,000/- is there and the Investment is made in the specified bond on 25/03/2009 of Rs.50,00,000/- and on 05/04/2009 another Rs. 50,00,000/- is been invested in the same bond then in that case what will be the exemption amount u/s 54 EC and what will be the taxable income of the assessee if the return is filed before due date??

Dear Sir,

Can you guide me on the following matter:
1) Pvt. Ltd. Company have 2 Director
2) 1 director want to transfer shares
Question:

1)Whats procedure to transfer ?
2) Whether require to intimate to ROC ? if yea whats time period.
3) Incoming person willing to become director, then wa\hats stepes to be taken

Pls treat urjently.

Warm Regards,

CA Radhesham Bhutada
9822890980