Anonymous
29 June 2011 at 18:47
For how many years/period CA is liable to preserve the audit file/working papers of his client. For example if CA has audited the books of a proprietorship (Tax audit) for the year ended 31/03/2005 in the month of Oct. 2005. In a case CIT appeal has isssued a summon to CA to produce above papers in June 11, but the audit file is not traceable in CA office. Whether CA is bound to produce above to CIT
Rajesh Kumar
24 June 2011 at 17:18
HELLO,
PLEASE TELL ME ABOUT STOCK TRANSFER RULES
IF I PURCHASE 100000 AND 12.5% VAT TOTAL
IS 112500/- OUT OF THIS SALE 56250/- WITH TAX AND 30000/- RS(COST PRICE)OF STOCK TRANSFER TO OTHER BRANCH IN(UP) SO CAN I TAKE ALL INPUT CREDIT IN HEAD OFFICE.
OR WHAT IS THE EXACT METHOD PLEASE TELL ME.
rammohan
23 June 2011 at 18:42
pls clarify on the following issue:
'X' is authorised service provider for many brands of computers providing service in india. when a customer (buyer of a computer of a particular brand)brings a computer for repair during the warranty period, the service provider replaces the components and does the repair. here the components are supplied on FREE OF COST by the original manufacturer(Y) to 'X'. 'X' imports from Y and pays the customs duties (on the value declared for customs purpose) and also subsequently recovers from 'Y' lateron. 'X' also avails CENVAT credit of CVD+Cess paid while importing the components. 'X' charges service tax only on the service charges from the customer, and the components charges are also not charged from the customer.
here i would like to have clarification on the following aspects:
1. whether CENVAT credit is justified when 'X' is getting reimbursement from 'Y'?
2. as per sec 67 of Finance ACt,whether the cost of free supply components are to be added to the taxable value and charge service tax on the total component+service charge ?
pls provide me the clarification on the above queries.
Anonymous
20 June 2011 at 10:25
Is there any exemption on payment of Road tax and/or Road Permit on vehicles with yellow board in Karnataka?
sunny bagla
18 June 2011 at 12:19
Hey frnds plz suggest on below query,
*can we take CENVAT credit on steel items (HR Plates, Angles etc) used during manufacturing of machine items like Oil Tank, Air Vessels etc. the steel items were provided by us to in-house contractor
*Are we need to take manufacturing Registration for the said machines from Excise Department for CENVAT credit purpose.
*Whether we have to pay excise duty on manufactured machines vale added items and shall we take Cenvat credit of the same.
rajkumar rawat
16 June 2011 at 11:49
pls sent me a common code of commodity of restaurant & kirana store.
Anonymous
11 June 2011 at 16:49
Hi:
My son-in-law and daughter, who are persons of Indian Origin, have become U.S. Citizens.
They jointly own a residential flat in Mumbai, i.e. the sales aggreements are in both of their names.
They want to gift the above Flat to my wife, i.e. mother-in-law of first holder and mother of joint hol.der.
Please advise whether this is possible without attracting gift tax.
However, if gift tax is applicable in the above case, please advise whether the above flat can be jointly gifted to mother of fikrst hol.der and mother of joint holder without attracting gift tax.
Regards,
KRISHNAN
ajithkumar.t
08 June 2011 at 21:37
Public sector undertaking of Govt; of Tamilnadu acting as implementing agency for devt: of infrastructural projects.There is no separate entity fro the last five years for the project. The grant from Gov: of India,and state received by agency and carries out the project.TDS etc collected by implementing agency and paid with their PAN etc.
How the balance sheet of the entity can be derived separately.
Can we start now a separate entity for taking over all the assets etc of the project. If so tax implications.
Is their any exemtions for such projects under Income tax act under the present status in the hands of implementing agency and under the hands of separate entity to be set up in future.
Any other points.
Please reply
Arvind Aggarwal
07 June 2011 at 12:15
Kindly let me know about TNVAT Input availability. As per my information TNVAT input can claimed within 90 days from the date of purchase or 31st March of every year whichever is later. Is it true? If Yes, please send me notification of this.
Thanks & Regards
Arvind Aggarwal
E-Mail Id: arvind.a@aforeserve.co.in
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capital exp. booked as revenue & Revenue booked as capital expenditure
dear sir,
i m article assistant under chartered accountant. i want to know from u as a guide & guru whether these expenditure should be capitalized or not which have been enclosed in excel sheet s i have discussed with management & they give thier opinion but i m not satisfied with thier answers. sir, can u tell me what should be real picture. company is manufacturing side cover, sheet cover of bike & Cars. it use raw material plastic dana to convert it into finished goods. sir i m sending u sheet in which company's opinion is also given. plz send it to me back after giving your opinion on this sheet. my email id is pankajmudgalca@gmail.com