MR. A was running ice cream parlour. He sold the business to Mr. X in September 2007. He colleted Rs.85,000/- of Maharashtra VAT on total sale price of business and issued a tax invoice to that effect.

Mr. X was not registered under MVAT as on the date of sale. He took registration in the month of february only after he completed sale of Rs.5 Lacs.

In the above case can Rs.85,000/- vat paid on purchase of business can be claimed as set off. In my opinion since the dealer was not registered at that time he can not claim the set off.

Pls. guide me on above issue.

Dear all,

Some of the employees of our company are working in Nigeria on one assignment. They are getting an additional pay for this. Do I have to deduct TDS on the additional pay that we are paying for working abroad?

Dear experts,

Please let me know hiring of Generator, goods vehicles using for works contract it will attract vat or service tax.

Since, service tax is applicble on Leasing and hire purchase of goods.

In the same manner, deduction is allowed for hiring of machinery used for carrying out works contract.

Either we can take tax shelter under both service tax as well as vat.

Please give reply for the same urgently

I have a doubt whether the transfer of land used for agricultural land attracts capital gain? (urban/rural land)

our company sent some pilots to outside india for taking pilots training. and now company is paying the bills for pilots training fee to NRI company at outside india in foreign exchange.

so is there TDS liability or not?
can pilots training fee can be considered as fee for technical service as per section 9 vii of income tax act

what about DTAA?

Dear Sir,

Pls tell me how the VAT input and output adjustment made. What is the ratio in which it taken for sales and in stock

thax in advance

Dear Sir,

Pls tell me how the VAT input and output adjustment made. What is the ratio in which it taken for sales and in stock

thax in advance

can u pls. tell me to avoid tax on salary of rs.5.00 lakhs per annum. reply me with detailed sections.

HOW THE ADMISSIBILITY OF INTEREST AND THE PRINCIPAL ON HOUSING LOAN ON A SELF OCCUPIED PROPERTY OWNED BY HUSBAND AND WIFE IS ASCERTAINED IF THE WIFE IS NOT AN ASSESSEE AND THE HUSBAND ALONE REPAYS THE LOAN FROM HIS SALARY AS A DEDUCTION?

As per the income tax law, every corporate filing compulsory e-Income Tax return not having digital signature is required to file the duly signed acknowledgement within 15 days from the date of e-filing of the return.
What are the cosequences if this acknowledgement is not filed with the department within the stipulsted time of 15 days?
Is there any impact on carry forward of losses in the case of return of loss?
An early response on my ID varshney_office@yahoo.com with rfeferencwe to literature mentioned elsewhere will be highly appreciable.

CA Hemendra