ankit gupta
22 June 2008 at 15:07
RESPECTED SIR/MAM
WE ARE PLANING TO OPEN A NGO GOR THE UNDERPRIVILEDGE CHILDRENS,
Anil
18 June 2008 at 17:57
1)Can a person gift money to his spouse without attracting Sec.64 of the Income Tax Act ? Note that the person does not genuinely would want to have any right over the money given to his spouse
2)A person has given money to his wife. The wife invests the money in NSC. In the given case Section 64 of Income Tax is attracted for the interest accrued on NSC.
I would like to know whether the person can claim deduction u/s 80C for the money invested in NSC. Note that the NSC certificates are in the name of his wife.
Kindly answer pointwise in the order question is being asked.Thank you.
Sanjay Sharma
17 June 2008 at 12:09
Can we transfer the 'Cenvatable inputs 'to the other part of the same unit. We are manufacturing Tractors and also operating the 'Spares Parts Division'in the same premises. Spares Parts division has been added in the Central Excise Registration Certificate after the 1st june-06.
Tractor is exempted in the excise but the tractor parts is not exempted. so we procure the parts and sell them with our labeling. some times we transfer the Parts to the plant for the tractor manufacturing as it is condition.
My Query is -
1. Can we transfer the inputs to plant on non-excisable invoice without charging the excise duty ?.
2. if we can transfer the inputs, can we debit the excise duty payable on the said inputs in the end of the month by the notional calculation i.e on inputs value 14.42%.?
3. Or should we transfer this inputs to the plant on excisable invoice under rule 11 of C.E. Rules, 2002. Is above
mentioned process violation of this rule.
Pls. clarify.
Regards
Sanjay Sharma
Anil
16 June 2008 at 15:12
1) Is VAT audit mandatory in Karnataka for private companies who get their books audited under Companies Act as well as income Tax Act?
2)When is the last date for filing of Form 240 under Karnataka VAT?
3)Once an establishment is registered under Karnataka VAT should it be renewal every year like it was being done earlier under the Karnataka sales Tax Act? If yes, please let me know the Form to be used, the last date for filing such form as well as the fees to be paid for renewal and the cheque in whoes favour renewal fees is to be paid
4) Can one submit monthly KARNATAKA VAT form 100 online?
Kindly answer the questions pointwise in the order they are asked
Thank you
ashish
16 June 2008 at 14:05
sir,
what are the provisions of b.c.t.t.,currently.i have heard it has been abolished.i want to know 4m ven it will be effective?
VASANTH D JAGANATH
15 June 2008 at 14:51
goods vehile used for transportation of goods [raw materials and finished goods] whether input tax credit can be claimed under kvat law
sl.no.1 of fifth schedule abgstruct the input tax credit on such use or not?
Sanjay Sharma
13 June 2008 at 11:27
We have filed the shipping bill in the Custom at the exchange rate applicable in the month of May-08, but now in the month of june-08 the exchange rate of customs has been changed.
My Question is -
1. Can we send the material on the shipping bill we had alredy filed with the customs. Is there any problem to sending the material in this way.
Pls explain ASAP. Its urgent
Regards
Sanjay sharma
Sanjay Sharma
13 June 2008 at 11:25
Central Sales Tax collected at the rate of 4 % but paid only 2 % and showing it (rest of the 2% ) in the books of accounts as "Other Receipts".
My Question is -
1. Is it a case of Additional consideration in terms of the Excise Valuation Rules ?
2. Is Excise duty payable on the amounts showing as "Other Receipts" in the books of accounts.
3. Can the DRI (Department of Revenue Intelligence) take the action for evasion of CST.
Pls explain/ clerify.
Regards
Sanjay Sharma
Sanjay Sharma
11 June 2008 at 11:48
I am in “ Spare Parts Division” of a Tractor Manufacturer in the same premises i.e Tractor Manufacturing plant. The Tractor is exempted for the levying of excise duty on final product. But in Spare Parts division, we procure the parts from the suppliers and sell them within the packing of our company ( with the brand name of our company) charging the Excise Duty on the basis of MRP under the latest amended notification on 14/2008-C.E.(N.T.) dated 01/03/08.
We clear all the Tractor Spare Parts with charging excise duty along with the Tractor “Accessories “ also with applying the same method ( Packing and Labeling of our company).
As per the above mentioned notification “ Parts, components and assemblies of automobiles of any heading are liable to charge the excise duty on the basis of MRP.
My Question is ---
1. Are, in your view, Tractor Accessories also falls within the criteria of Parts, components and assemblies of automobiles ?, as the “Accessories” are not specifically define in the said notification.
2. If the tractor accessories are not covered under the automobile parts, can we clear them without charging the excise duty or not ?.
Pls give me valuable opinion.
Regards
Sanjay Sharma
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OPENING A NGO
RESPECTED SIR/MAM
WE ARE PLANING TO OPEN A NGO fOR THE UNDERPRIVILEDGE CHILDRENS,i want to know that what is the procedure to get the tax exemptions under section 80g of the income tax act.and what is the procedure to do the same so that whosoever gives any donation in our Ngo gets that benefit.
thanks
regards