An assessee is engaged in the business of operating trucks and computing his business income as per section 44AE of Income tax Act,1961 and also not liable to maintain the books of account as per the provisions of section 44AA of the act.

During the year 2001-08, an assessee has sold 2 trucks out of his 6 owned trucks after 4years of its original purchase. Is capital gain on sale of the 2 trucks laible to tax during the year and if yes,

1. Whethe block method of depreciation and computaion of short term capital gain in that accordance applicable to it?

2. Whether it will be treated short term or long term capital gain and indexation of cost is allowed for the same?

Pls tell me the address of Ward 15(2)(3) or mum/w/952/3 in mumbai

pls share information how to find ward where to file income tax return of an individual in mumbai - Any List in excel

Hello,
advise which type of tax(VAT or Service tax) charge on Rent of Laptop..
give provision reference to the result.whether its covered under deemed sale and charge VAT.or it cover under service rule and charge the service tax for the same

Can interest charged on service tax paid be claimed as a deduction from the profit of the business in the year in which it is paid? If not , what is the usual accounting treatment?

Dear Member.

Expences paid in the mode of cash in an inevitable situation whether allowed or disallowed.

Pls Give Us Your opinion In the view of Income Tax Act

Interest u/s 220(2) of the I.T.Act can be levy in the case of Asst. made u/s 158BC i.e. Block Assessment ?

If yes which will be effective date calculation of interest
1. date of Assessment order
2. date of CIT (A) Order
3. date of ITAT Order

If no, kindly advice me according to which Notification / Circular interest u/s 220(2) can not be levy in the case of Block Assessment


Please advice me at an earliest as its very urgent

With Regards

From when circular 4/2008 dated 28/04/2008 i.e excluding service tax from rent applicable?

DEAR FREINDS,

MY QUERY IS THAT MY FREIND IS RUNNING OF TAXI HIRING SERVICE.
HE HAS OWN 6 TAXI & ARRANGE TAXI OF OTHERS ON COMMISSION BASIS.
HIS TOTAL GROSS RECEIPT FOR THE YEAR 12 LACS.
WHETHER HE HAS TO MAINTAIN BOOKS OF ACCOUNTS U/S 44AA ?
WHETHER HE CAN OPT SECTION 44 AE RELATING TO ESTIMATED INCOME OF BUSINESS PLYING/HIRING OF TRUCKS ?
PLEASE TELL ME.
THANKS & REGARDS
CA. B.K.BANSAL

hi
sub: query regarding EPCG scheme
Custom duty on import of capital good (eg. an embroidery machinery) under EPCG scheme is 3%. Now this 3% duty shows the basic custom duty as the import also includes 8% CVD so will the CVD be charged.
Also want to know details regarding EPCG scheme as you can provide regarding cash subsidy.
Waiting for your reply as soon as possible Thanks
Regards
C.A Ankit

DEAR SIR,
WE ARE AUTO PARTS MANUFACTURERS & SSI UNIT. TILL DATE WE HAVE MADE LOCAL SALES OF RS. 80 LAKHS (APPROX. )AND SALE AGST. H FORM RS. 75 LAKHS. NOW WE ARE LIABLE TO EXCISE DUTY OR NOT. WE ARE REGULARLY SUBMITTING ARE-1 AGST. SALE AGST. H FORM. PLS GUIDE US. WHERE WE CAN GET THE DEFINATION OF EXPORT SALE.

THANKS