verghese stephen
13 August 2009 at 20:19
supreme court judgements on recovery of sales tax dues from the directors of pvt ltd company
jiwan
10 August 2009 at 19:13
WE ARE A MANUFACTURE OF PLASTIC BOTELS AS PACKAING MATERIAL . WE PURCHASE RAW MATERIAL FROM A LIMITED IN MUMBAI & SEND FOR LABOUR JOB TO B LTD. IN MUMBAI WITH CENTRAL EXCISE ANEXURE 2 ISSUED BY US , WE ARE EXEMPT FROM EXCISE IN UTTRANCHAL BUT B LTD IS A EXCISABLE UNIT IN MUMBAI. B LTD. GIVE INTIMATION IN CENTRAL EXCISE DEPARTMENT AS A SALES OF PLASTIC PRODUCT NOT LABOUR JOB.
MY QUESTION IS :
1- IF B LIMITED DON’T INTIMATE FOR LABOUR JOB . CAN HE DO LABOUR JOB. IF YES WHAT HE CHARGED EXCISE DUTY OR SERVICE TAX ( HE DOES’T ADD ANY MATERIAL IN LABOUR JOB & CROSS EXCISE DUTY & SERVICE TAX EXEMPT LIMIT)
2- IF B LIMITED SEND MATERIAL AFTER LABOUR JOB,,CAN WE ISSUE F FORM AGST THIS TRANSACTION ALTHOUGH WE SEND ANEXURE 2
3-WHAT IS CONSIQUENCIES IF HE DONE LABOUR JOB WITHOUT ANY INTIMATION IN CENTRAL EXCISE DEPARTMENT FOR LABOUR JAB . PLEASE GIVE ANY NOTIFICATION NO.
navid mughal
08 August 2009 at 13:22
wheather a cottage industry making handicraft by using lac is liable to pay sales tax or vat etc?
kiran
08 August 2009 at 04:41
Hello Sir/Mam,
One of my cousin had around 10 Lacs invested in his savings bank account. Later this month he received a letter from IT department demanding the source of this 10 Lacs.
Issue: This money was a sort of gain from the sale of a real estate property, hence he did not want to disclose the sale details.
Question:
1. What are the extreme steps that IT department could take against my cousin?
2. How to overcome this deadlock.
Thanks in Advance.
VIJAY KUMAR SHARDA
06 August 2009 at 22:23
AN ASSESSEE PURCHASED AN OPEN PLOT OF LAND IN THE NAME OF HIS MINOR SON AND CONSTRUCTED THE COMMERCIAL PROPERTY (shopping complex) ON THE SAID PLOT AND REPORTING THE RENTAL INCOME FROM THE SAID PROPERTY IN HIS RETURN. NOW HIS SON HAS BECAME MAJOR. SINCE THE SAID PROPERTY IS IN THE NAME OF HIS MINOR SON THE PERMISSION FOR CONSTRUCTION IS OBTAINED IN HIS SON'S NAME AND HIS SON IS THE OWNER OF THE PROPERTY AS PER MUNICIPAL RECORDS AND RECORDS OF REGISTRATION OFFICE. BUT FUNDS USED FOR PURCHASE OF PLOT AND COST OF CONSTRUCTION BELONGS TO FATHER. NOW FATHER (ASSESSEE) WANTS TO GIFT THE SAID PROPERTY TO HIS SON.WHAT IS THE CORRECT PROCEDURE OF GIFT? can we gift the said immovable property (ie., shopping complex) merely book entries as per value recorded in the a/c books of the assessee? How Register the gift deed since the property is already in the name of son.
VIJAY KUMAR SHARDA
06 August 2009 at 22:07
AS PER THE AP VALU ADDED TAX ACT 2005 LEAFLEAT 14 VIDE ITEM (1)(A) IF AN AGENT SELLS GOODS ON BEHALF OF THE AGRICULTURIST PRINCIPAL, HE IS UNDER NO OBLIGATION TO OBTAIN REGISTRATION UNDER THE AP VAT ACT. BUT AFTER ADDITION OF SUB-SECTION (10)(a) UNDER SECTION 4 WHAT IS THE POSITION OF AGENT WHO SELLS GOODS ON BEHALF OF THE AGRICULTURIST PRINCIPAL. IS IS NECESSARY FOR HIM TO OBTAIN REGISTRATION UNDER THE APVAT ACT ? PLEASE CLARIFY?
KVR VENKATESAN
06 August 2009 at 13:53
Can an assesse having lasing operations in an Industrial Park and also Generation of Electricity from Windmill, claim both business incomes as deductions under Section 80-IA? Please let me know... Refer any case laws if possible or specific mention in the section
The Assessee in question is located in TIDEL PARK, CHENNAI, TAMIL NADU
Pl clarify at the earliest. Thanks
KVR Venkatesan
AMITAVA PODDAR
05 August 2009 at 19:19
Dear Sir
please let me know whether VAT is applicable on Computer Rental Charges in West Bengal ? what is the percentage ?
Amitava
KVR VENKATESAN
05 August 2009 at 18:28
Can an assesse having lasing operations in an Industrial Park and also Generation of Electricity from Windmill, claim both business incomes as deductions under Section 80-IA? Please let me know... Refer any case laws if possible or specific mention in the section
The Assessee in question is located in TIDEL PARK, CHENNAI, TAMIL NADU
Pl clarify at the earliest. Thanks
KVR Venkatesan
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Bonus Shares
A private limited company who is making profits since incorporation, has not declared any dividend.
Now, the Company wants to issue bonus shares using credit balance lying in Profit & Loss Account.
Can the Company do so?
If Yes, please explain the tax implication also.
Thanks & Regards