Dear Sir,


I want import material from abrod
What formalities I have to do

With best regards


Vilas Choudhari

while preparing consolidated financials, for unrealised profits of subsidiary, should holding bear all liability or holding & minorities both should bear it. is thereany ICAI clarification over the same.. plz give reference

Hello Experts

First of all thanks for showing your interest in sharing your knowledger.

Guide me about section under which i am responsible to deduct tat at source whether 194C(contract) or 194i(rent);
1. I have taken Material Handling machine (Forklift truck) on hire, rent is fixed for a month. I have to fill diesel and to incur all other operating expense and the machnine remains with me only.

2. I am using the same machine but i have to just pay a sum fixed for a month(use for 8 hr a day) & extra cost per hr for overtime if any. i dont have any possession of the machine and i dont have to incur any other operating exp. or even diesel exp.

As per my openion tds provision will be applicable as follows;
1. U/s. 194I as the Machine is hired and possession remains with me only.
2. U/s. 194C as i have given contract for working at my site and i am having no control over possession of the same or not to incur any operating exp.

One of the knowledgeble person disagree with my opinion in respect of point no. 2. In my case the works is going on permanently now tell me what will be the situation if the work is done for few days only (all other situation are same).

Even in ICAI Journal for Aug. 08 (Pg no. 293) in definition of RENT it is said then possession of the asset is pre condition for rent transaction.

Please give your valuable opinion on above cases.

Thanks
Rohit

THE CONCEPT OF GROUP ACCOUNTANT, A TEAM
1- SORTING AND FILING CLERK
2- DATA ENTRY OPERATOR
3- SCREEN AUDIT/CHECKING BY ACCOUNTANT
4- FINALISATION
5- TAX AUDIT/ VAT AUDIT BY CHARTERED ACCUNTANT.
6- RETURN PREPERATION AND WORKING BY CHARTERED ACCOUNTANT TAXCONSULTANT/STP/ITP/ADVOCATE
7 RETURN SUBMISSION.
8 ASSESMENT,SCRUTINY BY C.A.

EVERY ONE WILL CHARGE HIS/HER CHARGES AS PER HIS OWN THERMAMETER, SERVICES UNDER ONE CONTRACT,
WHAT ARE THE POSSIBILITIES KINDLY EXPLAIN AND IF INTERESTED PL CONTACT THROUGH PM

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