What will be the status of HUF account on the death of KARTA. Other co-parceners are willing to continue existing account by designating Senior Most male member as KARTA?
1.Is it permitted. Existing a/c can be continues with new KARTA?
OR
2. a new a/c is to required to be opened.
What will be the treatement of HUF account on the death of KARTA.If other Co-parcners are will to continue the existing account.
1. Existnig account can be continued with Senior most male co-parcner be designated as KARTA.
2. Existnig account to to be closed and a new account is to be opened.
Kindly guide me in this matter.
Max ltd. A foreign corporate, amalgamates on 1.10.2008 with Zenith ltd.Purchase consideration was fixed for Rs 20,00,000. Particulars of their assets are given below:
Particulars------max ltd----------zenith ltd
rate of dep.-----15%----------------15%-----
W.D.V as
on 1.4.08--------12lakh------------10lakh
machinery purchased on put to use
i)1.4.08
machine T --------5lakh----------------000---
ii)15.11.08
machine z---------00000--------------4lakh--
machine T is sold
on 30.11.2008------4lakh-------------00000----
Compute the deprecation allowance, admissible of Max Ltd. and Zenith Ltd. If:
(i)Max Ltd. is an Indian company
(ii)Max Ltd. is a foreign company
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In section 194 C there's a phrase that "Contract for sale" if its their than this section is not applicable. In case of printed material 194 C is applicable. But in case if assessee contracts for stickers print to be placed on containers with details like name of assessee, address , Qty., type and size of item in container. Is assessee liable to deduct tax or its a contract of sale not printed material. I am very confused
I would like to know the basis of calculation of period of holding in case of self generated goodwill, which will decide whether goodwill is a long term capital asset or short term capital asset
A company is making payment to the US Company for the services. In order to avoid TDS, a third person is making payment through nits credit card and later on the company is paying to the third person. What is the solution and the journal entry
A company is making payment to the US Company for the services. In order to avoid TDS, a third person is making payment through nits credit card and later on the company is paying to the third person. What is the solution and the journal entry.
Dear Sir / Madam
We are manufacturer of excisable goods duitable and exempted goods and we are paying GTA inward ,GTA Outward, GTA Export outward Service Tax by TR-6
Now our questation is :
1 Can we avail credit of GTA inward & GTA Export Ser tax paid by TR-6 when we are producing duitable and exempted goods both ?
Pls reply ASAP
Keyur Vora
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