Ihave maid a gift of Rs.1.1 Lakh to my niche. I want to record it as gift deed. She is a minor. Pls guide the specimen draft to be recorded for the same. Also who are the persons to sign this gift deed as the donee is a minor.

Wheather contribution to leave encashment fund with The LIC will be allowed as busiiness expenditure to assesse.

I need Format of Dissolution of partnership deed where one partner take over all assets and liabilities of the firm.

Thanx in advance

Sir,

If an Advocate who is in specified profession under sec 44AA has an income of Rs.152000/- in his newly setup business for the assessment year 2008-2009. whether he was required to maintain books for the A.Y-2008-2009 or is required to maintain books for the A.Y-2009-2010.

Sir,

An Indian company share was held by a foreign company,British Virgin Islands. In 2004 the shares were purchased by a NRI the purchase consideration being made through Saudi Arabian bank Account.

My doubt is investment in indian company share by an NRI the source being his salary earned in saudi Arabia will attract an income tax? Will there be any tax on the source which he used for purchasing the shares of the Indian Company?
Regards,
Priya

A unit is not considered as a SSI , if the T/o limit crosses 400 lakhs in the preceding year.
after this criteria is full filled, we can decide if a unit can avail exemption from excise upto Rs. 150 lakh value clearance.

My question is
Q 1. If NEWLY ESTABLISHED UNIT in FIRST YEAR OF OPERATION crosses Rs.400 lakhs can it be a SSI?
Q 2 .If yes can the exemption notification no.8 be given to such a unit?

DEAR ALL

I HAVE COME ACROSS SENTENCES LIKE INTEREST ACCRUED BUT NOT DUE ?

WHAT IS THE MEAINING OF ACCRUE & DUE . I KNOW THAT THEY HAVE DIFFERENT MEANNGS.

PLEASE ANY ONE EXPLIIN WITH EXAMPLE.

dear all
one of our client had deposited rs. 400000/- with a builder for booking a house unfortunatley he did not get house but builder paid him rs.800000 after four years. builder has told him to pay tax on rs. 400000/-.

i think this will come under head income from other sources and accordingly it will be taxed ? is builder liable to deduct t.d.s ?

Please tell me how to solve this question step by step.

Following information relating to a type of raw material is available:-
Annual demand :2400 units
Unit Price :Rs2.40
Ordering cost per order :Rs4.00
Storage Cost :2% p.a.
Interest Rate :10% p.a.
Lead Time :Half-month

Calculate EOQ, and total annual inventory cost in respect of the particular raw material.

when TDS is deducted at the rate of 30.9(plus surcharge if applicable) on interest on FD in NRO A/c.if the recepient give 15G form to Bank whether bank is liable to deduct tax on such interest after receipt of 15G form?