sir
1. Is it posibile to convert a partnership firm in to a pvt ltd copmany.

2. Is it possbile for the new comany to legally claim the experience and goodwill of the partnership firms provided all partners become the member of the compnay and the active managing partner becomes the manager/shareholder of the company.

3. If the partnership firm is taken over by the existing company is it posibile to claim the experience of the partnership firm provided all partners are already the shareholders of the company.[After take over all partners become the shareholder of the company]

4. The issue of claiming experience is arised due to the partnership firm is doing contract business so previous experience is a most critical factor in bidding.

HI SUBHA RAO,

THANKS FOR YOUR REPLY. MY DR FRIEND IS A MALE INDIVIDUAL TAX PAYER AND HE ALREADY PURCHASED 1 LAKH RUPEES NSC.

PLS ADVISE ME HOW MUCH NSC DID HE REQUIRE TO COVER HIS TAX AMT.

AWAITING FOR YOUR REPLY SOON.

i want to know that
1. period before the PCE EXAM. is 15 months or 18 months ?
2. can a person registered in mp complete articleship in other state ? if yes then what is the procedure ?



please suggest me , i will be very thankful to him/her.

Dear Collegues,

What is the minimum nuber of directors required in sec 25 private limited copany

regards
c.a.presh zatakia

Hello

I would like to know of what advice do you give your tax clients who come within the purview of Tax Audit regarding maintaining books of accounts?

The accounts are being maintained in Tally.So whether any manual vouchers are required to be made?and under what transactions?

If there are any other tips you have regarding "How do you advice clients on Tax and other related matters"Please share it with me on :
alka_0to0@yahoo.com

Thank you
Alka

I am in receipt of rent from Banquet Hall.
Ownership of hall is with me.
Under which head the above receipt will be taxable?
Is it possible to tax the above receipt under the Profit and Gains form Business and Profession?
pls advice me as early as possible
you can send me mail also my id is
umesh2309jain@gmail.com

Sir

One of my client(X Ltd.) has a business income from taxable security transaction. Current issue is relating to Sec 115 JB and Sec 88E.

Facts

In Sec 115JB, if "tax on total income" is less than 10% of book profit, then 10% of book profit shall be treated as tax which he has to pay.

In Sec 88E, if any individual has a business income from taxable security transaction, STT paid by him is allowable as deduction from tax on total income


Issue

In Sec 115JB, which "tax on income" is taken to compare with 10% of book profit?

Solution: tax after or before deduction u/s 88E

Regards

Akashdeep Singh

For transporting service, service receiver has to pay service tax if it is a company.

The query is

1) When the company( service receiver) has to pay service tax i.e which date is relevent for payment of servece tax,(whetehr date of receipt of service or date of payment)

Hi, one of my friend is suffering from problem with study leave calculation. he has joined the article in first principle from 01.09.06 and terminate on 03.09.07 ( In this on Form 109 mentioned 11 days leave) and in second principle from 10.09.07 to till date.In second principle he has taken the study leave for final exam 3-1/2 months for nov '08.Now he wants to know the what is the study leave in his hand in future for study ?, Is the rule is 1/6 or 1/7 of total actual period ( Including of holiday & sunday or not)?,What is exact total leave applicable (135 or 156 days in case of pe-2 student)? pls guide me with through calculation with the support of institute rules. thanks

In a conversion of firm into a company all the conditions of section 45 are satisfied, then how to calculate depreciation? what will the WDV in the books of the company, i.e. after deduction pro rata depreciation or opening balance of firm?, Why not company can get the credit of advance tax paid by the firm? Because the advance tax is paid on the basis of whole years estimated income and because the conversion took place the tax is to be paid twice? Please give elaborated reply on this.