V V SATYANARAYANA
07 May 2009 at 16:23
Sirs,
We are doing processing activity in which we process the material and give it back to the owner.As per the agreement the 'title' and 'ownership' of the material given to us for processing is always with the client. This does not attract VAT registration.
Now we would like to undertake trading activity in Bangalore, Kolkata & Delhi.
For this purpose do we have to take registration both under VAT & CST or only VAT registration is required.
Please clarify
yogesh
07 May 2009 at 12:57
against long term capital gain on sale of house i have to reinvest in purchase of new house.i would like to know which of the items can be said to comprise cost of purchase of a new house.- stamp duty paid, society life time maintanance deposit, electric connection charges, legal charges.
chinmay Agarwal
05 May 2009 at 15:02
sir can you please cite me any case law of supreme court/High court which gives clarification on classification of Water storage tanks made of plastic/PCV water Tanks/Water syntax for the purpose of imposing VAT Liabilty on the particular Commodity. and also the rate of Vat which shall be applicable on the above mentioned commodity.
Anil Goel
05 May 2009 at 14:23
hello experts
as we all know the deptt. has changed the rules relating to the TDS.
my Q: is ....How a person can deposit TDS for the month of April 09 F.Y. 09-10, as the new forms are not available on dept. site or NSDL's site. Payment of TDS through online is governing by NSDL & the co's site shows the older forms., If an assessee deposite the tax late due to non availability of new forms whether he will be liable to pay interest @ 1% P.M.
thanx
Member (Account Deleted)
05 May 2009 at 11:48
What is the last date for filing IT return for Assessment year 2009-2010?
Which Finance Act is applicable for assessment year 2009-2010? Finance Act 2009 or 2008?
Who determines the last date?
SUNIL GUPTA
04 May 2009 at 11:32
“THE GOVERNMENT HAS ISSUED A NOTIFICATION DATED MARCH 25, 2009, SPECIFYING THE NEW PROCEDURE TO BE ADOPTED BY COMPANIES FOR EFFECTING REMITTANCES TO NON- RESIDENTS AND FOREIGN COMPANIES, UNDER SECTION 195 OF THE INCOME TAX ACT, 1961 WHICH WILL COME INTO FORCE FROM JULY 1, 2009.”
My Quarries are
(a) Whether any payment / payments made by Indian Representative (IR) to foreign principal, against cruise booking from Indian resident whether in Indian currency or foreign currency covered U/s 195 of the income tax act, 1961.
(b) Cruises are not entering in Indian Territory, whether service tax on commission received by IR, applicable.
(c) Some cruises are entering in Indian Territory, than what is the position of service tax.
Send your reply on my e-mail id skg_asso@rediffmail.com, skg.asso@gmail.com
(CA SUNIL GUPTA)
DEVENDRA
03 May 2009 at 15:13
As per the S. 269 SS, there is restiction on payment AND RECEIPT of cash above Rs. 20,000/-.
In that case, what method shuld be used by a co-op. credit society to make payments or receipts in cash above Rs. 20000/- ?
If a society opens savings a/c of the customer and makes cash payment through the savings account for more than rs. 20,000/-, then whether s. 269 ss attracts ?
Ritesh t a
02 May 2009 at 18:10
sir,can u cite me any case law regarding section 54 & 54B of income tax in the state of j&k.
Hemant Joshi
02 May 2009 at 16:12
As per the recent Delhi High Court decision, the service tax is not to be charged on the 'Rent'of commercial/redidential properties.But the department is silent and alos there is no notification for the cancellation of such service tax.
Please advise whether charging the service tax on rent should to be continued or not?
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Query on Sec 80IA of the Income Tax Act
I have the following queries in respect of Sec 80 IA and Sec 50 of the Income Tax Act,1961:
We are running the construction business as well as the Internet business(ISP). We have certain assets like Optical Fiber (OFC) cable , Plant & mach., Building etc in the ISP on which we are claiming the depreciation u/s 32 of the Income Tax Act, now my queries are as under:
1. Suppose we sell the OFC to the third party, whether we have to calculate the capital Gain u/s 50 if we want to claim the 80IA deduction or I have to just reduce the sale consideration of the OFC from the block . I had clubbed the OFC in P&M block and there are various assets and value are available in the block. Pl provide your valuable opinion alongwith the case laws if any.
2. The other remaining assets of the ISP division are being transferred in a scheme of demerger to the resulting co during the year, now can I claim the deduction u/s 80IA upto the period for which undertaking is in my ownership or not. Pl clarify.