company tax rate for Assmt year 07-08???????
and specify surchrge limit too

company tax rate for Assmt year 07-08???????
surcharge and cess rate?????additional cess applicable?>>>

Facts:
One of the my clients engaged in the business of renting/hiring the cranes to various companies under an contact & collects the service tax on the same as applicable from the enactment of finance act 2008(i.e. 15.05.08).He has registered himself under service tax on 19/06/2008.

He has imported 6 cranes on 06.05.08 & 5 cranes on 29.05.08 by paying the excise & customs duty.

Querries:
1) Whether he can avail the credit of the duty paid on the cranes imported
a) Before the date of registration &
b) Before the date on which the service tax became applicable to him

2) Service tax paid on the input services
a) Before the date of registration &
b) Before the date on which the service tax became applicable to him

Please reply in detail & as early as possible.

Facts:
One of the my clientis engaged in the business of renting/hiring the cranes to various companies under an contact & collects the service tax on the same as applicable from the enactment of fianance act 2008(ie 15.05.08).He has registered himself under service tax on 19/06/2008.

He has imported 6 cranes on 06.05.08 & 5 cranes on 29.05.08 by paying the excise & customs duty.

1) whether he can avail the credit of the duty paid on the cranes imported
a) before the date of registration &
b) before the the date on which the service tax became applicable to him ?

2) service tax paid on the input services
a) before the date of registration &
b) before the the date on which the service tax became applicable to him ?

Please reply in detail & as early as possible.

Dear Friends,

Kindly Clarify me the tax (mat)payable on the following.

one company has to its credit of P & L the following:

1.Consultancy Charges Received Rs. 2,00,00,000/-

2.Dividend Received 1,00,00,000.

3.Profit On Sale of Asssets 20,95,000

4.Sales 23,00,000

After taking into considerations of all expesnses the Loss is Coming to Rs.93,00,000/-

Inadmissionable expenses amounts to Rs.20,00,000/-

TDS available for the FY 2007-08 is Rs.26,85,000.

kindly tell me the amount of tax payable and refund

There was sales tax defferal scheme in maharashtra. According to that sales tax will be deffered 4 next 10 years. But govt announce tht asseesse can pay sales tax in same year after allowing some discounting factor. So compnay paid st in same year availing discouting factor. so there was a gain to company which is recognised in same year and accordingly taxation is done. but department is of opinion tht this recgnition of income should be defferd for entier period. please comment

while providing event management services, the gross amount (i.e. the bill amount including profit)will be the taxable amount? or say some percentage has been charged on the amount of different services rendered (under the head Event management) as commission and this commission amount is only the taxable amount on which service tax is to be paid?
kindly clarify the above query.
your kind assisstance would be highly obliged.

deductibility of prior period expenses under income tax act.is there any particular section which speaks about disallowance of prior period expenses?

The company is a IT Company. Main Business activity is computer hardware / software trading . Now it wants to trade in shares / stocks/ derivatives.

Please advice :

01. whether we have to make amendments in the main objectives in the MOA .
Or,
02. According to clause no.12 &13 of ancillary / incidental to main objects & clause no.24 of other objects (where it has been mentioned that the company can buy,sell, deal in shares, stocks, securities etc.), without any amendments in the MOA we can do this type of business.

Further I just want to know what is difference between main objectives, ancilary/incidental objects & other objects in a MOA.

Your immediate reply is highly solicited.

Dear Sir,

I am working as accountant in STP unit, (100% EOU0 bangalore,

We have obtained the Letter of Permission from STPI for renewal of PBWL in September 2007 and the same has to be submitted to customs for renewal they give the validity up to 31/12/2008.

Now we have to apply for licence renewal to customs dept, whether we have to take a permission for no objection from STPI ?

or

We can directly apply for licence renewal to Customs dept with the Letter of Permission issued by STPI to us in last year ( noramally LOP is valid for next Five years fron the 5/9/2007) ?

Pl. advice me.

Thanks & Regards,
CHIDANANDA K R

Mb. No: 94493 46445