manoj
11 September 2009 at 15:47
whether preference share dividend reduces accumulated profts ?riven
Sandeep Kumar Revaluri
11 September 2009 at 12:42
Dear Sir,
1)Is it required to get Authorisation from Commercial Tax Department, to sign on Invoice of Sales under Karnataka VAT? If so, what is the Form to be used for this(is that in KVAT Form 5)?
2)The word "Statements" given under Rule 171 of KVAT Rules, 2005, does it includes invoice too?
Thanks & Regards
Sandeepriven
Bhrigu Gera
11 September 2009 at 12:14
By the order of Supreme court, pre declare consignee will not treated as sale in transit. what is the status on this as tto consider the pre declare consignee.
culd i get the copy of this judgement.
riven
hussain
11 September 2009 at 11:03
sir,
i have asked the query of share application money on 10/09/09 but still i have not received any message.
the query was that the company as received share application money in bulk amount in the foam of cash.and the same amount was refunded in the next financial year through bearer cheques.and this case as been gone in secrutini.so please give suggestion how to keep this typr of case in fornt of ITo.riven
fulltrottlle
10 September 2009 at 15:35
respected sir/madame,
my company has been served the notice for scrutiny u/s 143(1)for AY 07-08. in the proceedings, the ITO is asking us to furnish certains insurance claims related details for the year previous to this.upon our objections, he has demanded the same details saying this is required as the details are mentioned in P/L a/c. our p/l account always show previous years details in comparision with current years. also he is asking for opening in closing stock details for AY 06-07. his reasons being this is the only way he can assess the stocks !
q:does he have powers to ask details as mentioned ? how do i safe guard my company ?
riven
hussain
10 September 2009 at 11:22
sir,
The private company as received share application money in cash not in one transaction during the year means partly Like (10000/,15000/,20000/=)from 46 person and all is cash so there any chance to escape from IT act.riven
hussain
10 September 2009 at 11:16
Sir,
The company as given loan to directors in financial year 2005-06 and it was recoverd by deducting from remunaration in the finacial year 2006-07.for that the ITO says that the company is closely a private company and in that year the profit is about 15lac and the director holds 79% share in the company so as per ITO provision of sec 2 (22) (e) of the act the above loan is ti be treated as deemed divided.
so there any hope to save from tax.riven
hussain
09 September 2009 at 15:20
Sir,
A private company as received share application money in cash during the year in bulk amount and returned same amount through bank (some bearer cheques and some A/c payee)there any rule which explian this problem.riven
hussain
09 September 2009 at 14:49
Sir,
as per incometax disallowed the loan as per provision of sec (2)22 (e)of the act says that is to be treated as deemed dividend.
riven
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share application money
Sir,
The query is that the private company has received share application money in cash in bulk amount during the year and it has been return in next finanacial year the case is in screwtatni so in case how we can persent in front of ITO please sugges me its urgentriven