Is the basic exemption limit of Rs 10.00 lakhs applicable each year? ( like IT)
Or liability to service tax arises as soon as limit of 10.00 lakhs is exceeded in each year ? Suppose an assessee has 5 lakhs,7lakhs,10 lakhs as billed services during last 3 yrs how the service tax provisions would apply

Thanks for your offer to clarify
subrahmanyam

Please ans the following 1)whether goodwill is required to be calculated every year(assuming no change in % of holding) 2) For the purpose of calculation of goodwill, whether value of investment will be converted at closing exchange rate or it will be at purchase cost only(company having all foreign subsidiary). 3)if company puchased share in differnt date than how goodwill be calculated(assuming on the first acquisition holding subsidiary relation established)

suppose i am holding the shares a company & that company is coming up with right issue . so my question is that can i get the shares in right isssue

I just want to know if the promoters of the company would necessarily be the first directors of the company also? is there a chance that the promoters after forming the company not taking up any managerial responsibility?

*GOOD EVENING SIR*
respected sir!
at present i am facing the double challenges. these are 1. articleship botheration, 2. c.a.final exams preparation.
sir i want a suitable suggession from your's point of view that if manage six hour's a day and read two or three subjects daily then is it possible for me to clear c.a final exams ? my first attempt will be going to be held in may 2010.

retired junior engineers have been engaged on Rs10000.p.m.for providing their services at 132kv sub station as per order of managment due to paucity of man power.pl.give reference of sectin under which tds will be deducted.

is thr any ceiling of 30 TOTAL audits by the ICAI? or that has been enhanced to 45?
and where as the cos. act says of 20 co. audits in which not more than 10 be of co. having a capital of 25 lacs.?
plz elaborate

At what rate TDS to be deducted on "Rent Paid to NRI" ??

Dear Experts,

if we have received 200/- rs. service tax in April-08 and paid 250/- to those who provide us services then its mean credit input is more then service received. then its mean we have no liability to pay Service Tax in May-08 to Government.

or one thing more can we also Forward balance Rs. 50/- for next month in June-08 while depositing service tax..

Our client newly form a pvt. ltd. co. with 1 lac capital and want to enhance the capital to 10 lac by increase Non voting right shares of Rs. 9 lac to be issued @ 5 times of their face value.

What are the formalities. If there is ready draft available with anyone for the compliance with ROC/MCA.