IS IT BENEFICIAL FOR RUNNING JUNE BATCH PCC STUDENTS TO JOIN IN IPCC...WAT ARE THE EXACT BENEFITS IF THAN THAN AND WAT ARE THE OFFSIDE ONE IF NO ..????

Dear friends,

We want your suggestion as below.

My company A has signed BTA (Business Transfer Agreement) with B on 2nd December, 2008. In BTA it is specified that the transfer will be effective from 1st April, 2008.

We have any liability to inform Income Tax Department for the same?


We have different PAN of both the companies.

Please suggest.


Thanks,
Jayesh Jagetiya

Dear friends,

We want your suggestion as below.

My company A has signed BTA (Business Transfer Agreement) with B on 2nd December, 2008. In BTA it is specified that the transfer will be effective from 1st April, 2008.

The income Tax on capital Gain on Slump Sale (from A to B) arrived is Rs. 88 Lacs. According to the Advance Tax provisions we have to pay 75% of the total tax payable up to 15th December, 2008.

We have paid Rs. 15 Lacs Advance Tax in the name of A on 15th September & we have also paid Rs. 24 Lacs FBT in the name of A.

Now should we pay the Advance Tax & FBT in the name of A or B?

Will we get credit of Advance Tax & FBT already paid?

We have different PAN of both the companies.

Please suggest.


Thanks,
Jayesh Jagetiya

Pls, give me information regarding new areas of practice for newly qualified CA

Dear friends,

I want your suggestion as below.

My company A has signed BTA (Business Transfer Agreement) with company B on 2nd December, 2008. In BTA it is specified that the transfer will be effective from 1st April, 2008.

Up till now we have filled eTDS returns of 2 quarters & made e payments of TDS up to Oct, 2008 month in the name of A. Now our TDS payment for the month of Nov. 2008 (Due date of which is 7th Dec, 2008) is pending to pay.

Now we should pay the Nov. 2008 payment in A or B?

We should file the e return of 3rd quarter in the name of A or B?

Our BTA sign date is 2nd Dec, 2008 so should we file e return of Oct & Nov, 2008 in the name of A & after that in B?

We have to issue form 16/16A from these 2 companies to the same party?


Please suggest.


Thanks,
Jayesh Jagetiya

There is a company who are spending expenses on behalf of other com which is group com of that and is issuning a debit note note for that expenes. My qus is that should we add service tax on that amount on that rembusement. plz advise

In Private Company for How much Period can we retain Share application Money received from Relatives and others........ and
IF So When ever Cash Become Negetive company can show Share application money received and then when cash surplus available they can refund them

Please Explain

Thanks
from
Anil Kumar

In Private Company for How much Period can we retain Share application Money received from Relatives and others........ and
IF So When ever Cash Become Negetive company can show Share application money received and then when cash surplus available they can refund them

Please Explain

Thanks
from
Anil Kumar

Sir,
Is it Necessary for a Deductor to Deduct tds u/s 194 c on Payments made to a Printer who Prints the Letter head of the Deductor as Specified by him. Please attach relevent IT order or Circular Nos.

Advance thanks...

Manikandan.A.V

An amendment to Section 194C was brought in by the Finance Act, 2007 and made effective from 01.06.2007.

Individuals and specified HUF's whose turnover exceeded 40 lacs and qualified u/s 44AB to get their accounts audited had to deduct TDS on payments made to Contractors w.e.f. 01.06.2007, if such individual or HUF had got his accounts audited u/s 44AB in the preceding previous year too.

From this my query emerges as:
Suppose Mr X an Individual has paid and/or credited a sum of Rs. 45,000/- to a contractor in the month of April and May 2007 in either a single and/or multiple bills/cheque and further pays/credited the same contractor's account with say a sum of Rs. 8000/- in June 2007, then my query is as to whether TDS should be deducted on Rs. 8000/- only being the sum paid/credited in June 2007 or it should be deducted on Rs. 53,000/- (sum of 450000/- + 8000/- being total of sums paid in Q1).

As the proviso to Section 194C has used the words "the aggregate of such sums credited or paid or likely to be credited or paid during the financial year exceeds fifty thousand rupees, the ................"

In the circumstances from the point of view of reporting TDS compliance in Form No. 3CD what should be taken to be the effective date, is it 01.06.2007 or by default it has a retrospective effect from 01.04.2007 itself, though the amendment might have actually come into effect from 01.06.2007.