Hi,
say a college collects sponsorship over Rs.8 lakhs from corporate clients for its annual festival and signs MoU with them for this purpose. MoU states that corporates will be allowed to place their billboards, signboards etc for their advertising.

Whether these payment will be covered under advertising services and college should collect service tax on this? If so, college is not having service tax regn. no., how would it deposit?

How much income tax liability will be there and how much TDS, the sponsors should deduct?

Please note that not a single client is paying more than Rs.5 lakhs.

Also please advise the way in which tax liability and complicacies will be least?

hello friendz
plz tell me whether ded.u/s 54 EC is available against short term capital gain also besides long term
bcoz word given is"any capital gain"
thankx

In case of Retailers of Drugs & Medicines, if the tax liability on sales is less than the amount of tax paid at the time of purchases, whether the excess credit can be carried forward to next tax period? Whether we have to submit stock statements for the same? Also if for FY 2007-08 the stock statement is not submitted, can we send it now & to whom to send the same?
Please suggest....

A company based in Gujarat and issuing bank guarantee in favour of beneficiary located in Maharashtra. What would be the stamp duty rates
= Whether it is 0.10% of amt. of BG
or
= on Rs. 100/- stamp paper

My co. is a pvt. ltd. company. we have paid advance rent rs. 6,75,000/- + s.tax on 04.06.08 to individual for new premises for leasehold. that amount is to be adjusted Rs. 75,000/-+s.tax @ 9 months (july'08 to march '08). But we shifted on 01.09.2008 at the new premises earlier i.e. (june '08 to aug '08) we were at old address. we have update our address in service tax department/roc w.e.f. 01.09.2008. total rent rs. 225000+st now we are paying 1,50,000+st after adjustment of rs. 75000+st. Can we take benefit of Cenvat credit in service tax.

Regards,
lalit

Can we purchase GOLD above Rs.20000/- in cash, It is allowable or not as per I.Tax in gold bullion business

If the TDS is not deducted on int. on FDR for the first two quarters as the threshold limit was not exceeded, whether the TDS on int. is subsequent quarters when the exemption limit is exceeded should be deducted including the earlier escaped amount of interest.

Hi,
Can you suggest me best book for Direct Tax paper of CA Final May 2009 attempt.

pls send me the date of results of pcc-nov-2008 results as soon as possible

pls tell me is lta taxable