Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Swarnaprabha dash says :
Hello, I had a quick query Please give me the answer. What is the MAT rate for A.Y 2010-11 applicable to Private limited companies? Please give me an example of how Book Profit and MAT is calculated?? Suppose if 1. Sales turnover is Rs 90, 00,000. 2. Dividend from Mutual fund is Rs 2,30,000 3. Depreciation as per Companies Act is Rs 5,00,000 I need to calculate Advance Tax Also Company is having STPI Registeration. Does it affects Tax calculation under MAT ??

Ravi Sukumaran says : FROM44
what is the use of FROM44 in case of setting up Liason office in india.

Gaurav says : General Query on VAT
Hi, Can you please answer below general query related to VAT. I strongly feel commission would not be included in turonver as no sale or purchase of goods. Whether Commission should be included in sale turonver for the purpose of registartion of dealer (5,00,000-Sale turover)under MVAT ACT? Brief Background:Assesse a distributor (Say B) is purchasing goods from registered dealer (Say A).Assesse (B) is having another distributor under him (Say C). Now as per agreement between B and A, A will pay commission amount (differential profit margin of B and C) to B for any purchase made by C from A. As per my notion Commission should not be included nor turnover of C in B's turonver? To clarify more C is also a distributor of A now but with lesser profit margin. Please advise