Hello,

I want your opinion on the following situation:

A company paid advance rent before june 07 as the service of rent become taxable and this rent is adjustable in the total amount of rent payable every month upto 36 months.

Can the company require to pay the service tax on the amount of advance rent.


ii) The service of rent become taxable from 1st of June 07 but what happen if a company get the registration in the month of October. Is the company require to pay the service tax from 1st of June or it can book the liablity once upto 31st of Oct and thereafter on monthly basis. And can it follow the same procedure on the credit also.

So please give your opinion on the above mentioned matter in urgent.

Thanks

A prop. concern having tax tax audit for the f.y. 2005-2006. It has transferred its prop. business on lump sum amount of Rs. 30 Lacs on July 05, 2006. Up to 13.07.2006, total sale was rs. 18 Lacs. the questions are

1. Whether the concer is liable for tax audit for f.y 2006-2007

2. under which section short term capital gain shall be calculated

3. how we calculate the capital gain on Land if there is lump sum payment was received

Presently I am assigned salary audit of IT co, spread across globe, with employees more then 10,000.The present system is that all time logs, leaves,comp offs,bonus,performance incentives etc is done in oracle based prog developed internally. Respective reports r downloaded from the system, checked & fwd to outsourced party.
There are various issues ( other than normal audit) like employees frequently travelling, so in salary giving them per diem / US ,UK salary as applicable, transfer of leaves from onsite ie outside India to India,changing in salary module as per the cost of living index of foreign country etc. The result is that the entire payroll is in mess.
Can anyone provide me some sort of guidance / questionnaire that includes all the basic processes of all salary components, along with their interface with the s/ware system ?

Dear Sir/Madam,

I want to Know the Procedure for Creating NBFC.What is the RBI regulations in this Regard.What is Scope of work, etc.
Please let me know as soon as possible.

With Reagards,

Shridhar

XYZ Company has accepted Rs.2 Crore as share application money. The Autorised share capital is Rs.1 Crore. Now due to heavy business lossess, Rs.2 crores given as share application money were wiped out. The company has stopped doing business. My Query is Can a company write off the Share Application Money and show the same is income in P&L account? Otherwise Company has to incur a huge expense for increase of share capital and allotment of shares, for which company have not money to spent. Expert opinion is sought from the fellow members. Thanks in advance

Hi All,

Can anyone provide me a good salry structure for a CTC of Rs.10 to 15 laks per annum.This model should be for employees in Software industry.

Thanks,

Kuras

hello,

how int u/s 234c is calculated when there is both income taxable at normal rate & income taxable at spl rate exist.

Calculate int on following assumption -
If income taxable at normal rate alone is considered it is less than basic exemption limit. While added it with cap gains such total income is taxable.

regards,

dear one,

Arun Dongre

my final attempt will be in nov 2009....as per old course...n me will give only one group......if i clear it i will be exempted frm that in new scheme....i want to ask will it be beneficial to give as per new course or old course....?
wats the diff b/w direct admn to new course and conversion later on?
i mean does it have any effect on month of final attempt........

Case A : On September 4,2005 the company issued 12000, 7% debentures having a face value of Rs 100 each at a discount of 2.5%. On September 12, the company issued 25000, 8% preference shares of Rs 100 each. On September 29, the company redeemed 30,000, 6% P.S. of Rs 100 each at a premium of 5% together with “one month dividend” thereon. Bank balance on August 31,2005 was 2925000. the bank balance on September 30 is ………

a) How to calculate “ one month dividend”?
b) What is the significance of “”8%”” in “8% preference shares”?

Case B:
Share capital
Equity Capital(rs 100 each)-5lakh, Preference share capital (rs 10 each)-3 lakh, General Reserve-150,000; P/L account 250,000; Debentures- 200,000, Sundry creditor-50k, Loan-25k.
Land-4lakh; Plant-3lakh; Furniture-250,000; Investment 225,000; Debtors-1 lakh; Inventories 150k; Cash- 50,000.
The P.S. shares are redeemable at 10 % premium, the company wishes to maintain cash balance 0f Rs 25,000. It proposes to sell Investment for Rs 2 Lakh. The company proposes to issue sufficient equity shares of Rs 100 each at a premium of 5 % to raise required cash resources.

a) Cash required to effect the above decisions is………
1) 330,000 2) 355,000 3) 25,0000 4) 1,05,000
b) No. of shares issued is…….
a. 1500 b. 1000 c. 950 d. 1500
What is the logic behind these two question and how to find out the answers

1. How to calculate surplus in case per share re-issued? What is the safe and appropriate technique ?
MSN Co. issued 3000 equity shares of Rs 10 each payable as Rs 3 per share on Application, Rs 5 per share (including Rs 2 as premium)on allotement and Rs 4 per share as final call. All share are subscribed. All paid except Ram, holding 50 shares failed to pay allotement and call money, and Shyam holding 100 shares failed to pay the call money. All their shares were forfeited. Out of them, 125 shares(including whole of Ram’s shares) were re-issued to Jaadu as fully paid up at a discount of Rs 2 per share. Calculate money transferred to capital reserve.