Mr X filled arbritration application against Mr Y who was declared a defulter by the Stock Exchange Mumbai.The final Award was RS 6,61,503 payable by Mr Y to Mr X alonge with interest @ 18% p.a. from 1-4-1994.
Mr X received RS 22,22060 after deducting TDS of RS 1,99,404.(RS 17,59,961 as interest & RS 6,61,503 as principal)
MR X liable for Capital gain?
CAn mr. X liable for tax under income tax?

Dear Sir,

This is Pratheek from Bangalore. My Doubt is : I have a bill of Rs.5,58,254/- it includes Rs.3,72,285/- of material cost, Rs.46,36/- is VAT , Rs.1,24,095/- is Labour Charges and Rs.15,338/- is Service tax . In which The value of the Material is going to be capitalised. So on Which amount i have to deduct T D S is it on Whole bill value or On Labour Charge.

Kindly guide me.

Regards
Pratheek

i have given cash loans to my supplier totalling rs.300,000 .in instalments of 30,000 ; 100,000 ;100,000; 70,000.
later on from same supplier i purchased one machinery item costing 3.5 lakhs .
can i adjust cash loans against purchase from same party ?

I need a clarification with respect to leave during articleship under ca final old syllabus? Is it 1/6 or 1/7 of actual period served. And what does actual period served means. Is it the period of 3 years of articleship or period of articleship less leave taken?

Hi,

I have completed my PE-II in my first attempt in Nov 2007. Somehow I was not able start my article ship till now. I intend to start it in another year.

I needed to know if I can start it at anytime or is there any time limit within which should start it.

I hope I will not be asked to start the whole course from PCE when I intend to do my finals.

Kindly help.

Hi frnds
i hv a doubt which relates to marginal VAT. pl guide me

1. in the first instance a dealer buys goods from exempted unit and sells the same :
a. at some (margin) profit
b. below the cost price

2. Dealer A sells these goods procured from 1.a. to dealer B and dealer B sells the same in the market below the cost price and at profit.
hw would be the VAT TREATMENT????

Hi frnds
i hv a doubt which relates to marginal VAT. pl guide me

1. in the first instance a dealer buys goods from exempted unit and sells the same :
a. at some (margin) profit
b. below the cost price

2. Dealer A sells these goods procured from 1.a. to dealer B and dealer B sells the same in the market below the cost price and at profit.
hw would be the VAT TREATMENT????

Assessee hives Land for Development to a Developer in 2006-07.
In 2007-08, Out of his share of plots Assessee sells one plot to A for 7 Lacs.(3 lacs for plot + 4 lacs for structure). Long Term Capital GAins on 3 lacs was declared in 2007-08.
In 2008-09, the Developer has handed over the completed structure on the above mentioned plot to assessee. However, cost of construction of the structure given by the developer is working out to 4.75 lacs which is more than the sale consideration of 4 lacs. Can the assessee claim short term capital loss of 0.75 lacs on the structure sold to A?

Hi frnds
i hv a doubt which relates to marginal VAT. pl guide me

1. in the first instance a dealer buys goods from exempted unit and sells the same :
a. at some (margin) profit
b. below the cost price

2. Dealer A sells these goods procured from 1.a. to dealer B and dealer B sells the same in the market below the cost price and at profit.
hw would be the VAT TREATMENT????

If the firm arranges the Dinner for its client than is it liable for FBT? The expenses is currently classified under the head Sales Promotion including Publicity. Is the head classified correct?