The balance of an unsecured loan as on 1st April 07 was Rs. 2,00,000/-. An additional loan of Rs. 10,000/- was taken on 1st June 07 in CASH. A sum of Rs. 10,000/- was repaid on 30th September 07 in CASH.

Am I liable to pay penalty u/s 271D and 271E of the I. T. Act?

If yes, what would be the amount of penalty imposable?

What if the amount (Rs. 10,000/-) is shown as a temporary advance?

Thanks & Regards,
Niki

Well i have got the following query in relation to issued of Form 16A

1. In relation to TDS on Contractor payment. What is the time limit for Issue of TDS Certificate?

2.Income Tax Act says that Form16A shall be issued on monthly basis. So whether One FORM16A annually would suffice.?

will consent to act as director be filed with roc at the time of appointment of director as additional director needed. shall we file form 32 for appointment of additinal director and also on his confirmatin of director in agm also.

thanks

what is the total cost for TALLY. ERP 9.

Can someone tell me the procedure to be followed to dissolve a public trust registered under the Bombay Public Trust Act, 1950

Sir

The employer mill was closed 10 years back and no business is carried on since then. All the employees were settled.

Only one employee has not agreed to settlement and still occupying the quarters allotted by employer and refusing to quit despite the lawyer notice.

Can he be punished under 630 of Companies Act, 1956.

Regards

Karthikeyan

Can we include Deferred Tax Liability for the purpose of accumulated profits in Sec 2(22)(e)?

A company is paying medical insurance premiun to insurance company on behalf of it's empoyees. Whether TDS will be deducted on such paymentmade by company to insurance company. Also quote relevant provisions of the Income Tax Act.

Hello to all
My client is paying service tax on C&F.

HE is constructing a whole new wharehouse(project), for which he is hiring various services, and paying service tax on this.

As now there is revenue is less, but credit standidng is HUGE due to various services.
The revenue will be generated once the wharehouse is working (after 1 year).

what should we do,...whether take whole credit now and claim refund or wait for project to generate revenue and take credit thereafter.

Ragards
Akash

Sir,
We are doing business of Edbile oil & which is exempted from duty. But we are manufacturing the Tin & jar at same premises the same tin & Jar utilised for packing of edible oil. hence my question is whether this treatment come under captive consumption under 67/95 & we have to paid the duty as per specific rule. Please clearify immediately