What is rate of service tax on car rental ? is it 4.9%

At many places the language used in Bare Act is grammatically confusing.For explanation I am quoting section 69 here.

"No allotment shall be made of a share capital of a company offered to the public for subscription, [UNLESS THE AMOUNT STATED IN THE PROSPECTUS] which, in the opinion of the Board of Directors, must be raised by issue of share capital in order to provide for the matters specified in clause 5 of Schedule II [HAS BEEN SUBSCRIBED], and [THE SUM PAYABLE ON APPLICATION FOR THE AMOUNT SO STATED] has been paid to and received by the company, whether in cash or by a cheque or other instrument which has been paid."

Please notice the phrases which has been bracketed. The first two bracketed phrases, if read together, reads like this - THE AMOUNT STATED IN THE PROSPECTUS HAS BEEN SUBSCRIBED. How can we use a phrase "SUBSCRIBE AN AMOUNT". "SUBSCRIBE FOR SHARES" can be used.

Similarly the third bracketed phrase is very confusing. "THE SUM PAYABLE ON APPLICATION FOR THE AMOUNT SO STATED"
What does that mean?

A manufacturing concern,who is constructioning a building. Is tds deduction necessary on labour payment made
to contractor(i.e.tds on fixed assets)
& if tds not deduct what will be implection of this.

I Completed Law.I would like to pursue Company Secrectary course. In view of it I would like to claim exemption in General laws but as per the syllabus of Company secrectary General and Commercial laws are included as paper-1. One of the clause of Company Secrectary prospectus says person who has obtained law degree from recognised universtiy is eligible for exemption. Whether i am exempted in General laws and pursue Commercial laws or iam totally exempted from commercial laws.

1.I Would like to know if i can adjust excess payment of sevice tax in one quarter to the service tax payable in the next quarter.

2.I have found in the service tax website a new format of ST-3. I would like to know from which half year the said new format of ST-3 is applicable.


Please let me know the answers to the above queries at the earliest

Are there any restrictions or regulations to be followed to receive donations from outside india by a trust registered in india and got exemption certificate u/s 80G of IT act

What is the procedure to be followed for a charitable trust to get registered u/s 12A of IT act and to get exemption certificate u/s 80G

My Question is,

ECB for working capital is banned by RBI, but
How can we convert the external commercial borrowing in to any other sources of funds so that we can use the ECBs in the working capital?

hai, I have completed CA PE-2 in May-2007 and I am planning to register for articles. Meanwhile I have some confusion reg new&old schemes.
When will I get attempt under old scheme?
When will I get attempt under new scheme?
Incase if I choose old scheme howmany attempts will I get?

A Financial Institution has waived of the Loan amount of Rs. 60 Lacs along with the Interest of Rs. 20 Lacs of One Loss making Company.
The Interest Amount Waived is Credited to P&L A/c and taxable as Income U/s 41 of IT Act and Also liable to be taxed under MAT.
I would like to know about the Accounting and Tax Treatment of Principal Amount Waived Off.

SIR I WOULD LIKE TO KNOW
IF IN THE MEMORUNDUM OF ASSOCIATION OR RULES AND REGULATION OF ANY TRUST PERMIT TO PAY SALARY TO THE CHAIRMAN OF THE TRUST THEN SUCH PAYMENT WILL BE AN ADMISSIBLE EXPENSES OR NOT AS PER INCOME TAX ACT?