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Recent Questions

Question added Jun 20, 2015 Excise By C P Agrawal , CA , East Delhi

answers

522 views

Q. Goods imported under CN/N 153/93 - The Assessee (Software Technology Park) imported duty free goods (DG Set) under custom notification no 153/93 for the purpose of using it in custom bonded private warehouse on conditions stipulated under the above said notification.

However on the other hand the total premises of the assessee was declared Non Performing Assets. The premises was auctioned by Asset Recovery Company by the orders of Debt Recovery Tribunal and the goods so imported were ultimately transferred to the auction purchaser (AS IS WHERE IS OR WHATEVER THERE IS BASIS) resulting in non compliance of the conditions stipulated in the notification.

Excise department issued a show cause notice to deposit the duty and the interest amount to the assessee.

Whether the company is required to deposit the duty which was foregone under the said notification or it shall be passed on to the auction purchaser to whom the goods were transferred as the premises were transferred by the orders of Tribunal and not deliberately and also on AS IS WHERE IS OR WHATEVER THERE IS BASIS?

Question added Jun 20, 2015 Corporate Law By Lohit Chhabra , CS , Palwal

answers

317 views

Q. Transfer of Shares - I want to know, how to transfer shares of listed company through off mode route, means if tranding is closed in share market, then how to transfer shares.

Question added Jun 20, 2015 Corporate Law By Lohit Chhabra , CS , Palwal

answers

347 views

Q. Transfer of Shares - I want to know, how to transfer shares of listed company through off mode route, means if tranding is closed in share market, then how to transfer shares.

Question added Jun 20, 2015 Income Tax By kailansh gupta , East Delhi

answers

216 views

Q. TDS - 194I - TDS u/s 194I limit is Rs 180000 is inclusive of Service Tax or Exclusive of Service Tax.

Question added Jun 19, 2015 Income Tax By Aanand kumar karn , CA , North Delhi

answers

666 views

Q. WHETHER TDS IS APPLICABLE IF A CO DOESNOT OWN ANY VEHICLE BUT PROVIDING TRANSPORT FACILITY BY TAKING VEHICLE ON RENT? - Dear Sir, I have a doubt related to Section 194C. My company does not own any vehicles but we provide transportation service to others and Income is also not computed U/S 44AE. So, for claiming exemption from TDS is it necessary to fulfil both the conditions?

Anwered By : PRIYANKA

Question added Jun 19, 2015 Income Tax By Aanand kumar karn , CA , North Delhi

answers

737 views

Q. TDS ON TRANSPORTER U/S 194C - Dear Sir
I want to know that my company does not own any vehicle. So, according to section 194C can I claim exemption even if my income is not computing u/s 44AE.?? Is it necessary that vehicles have to be less than 10 and income have to be computed u/s 44AE.

Anwered By : PRIYANKA

Question added Jun 19, 2015 VAT By kailansh gupta , East Delhi

answers

400 views

Q. Karnataka VAT - ITC - A company is under construction. Whether it can take credit of VAT on Items used in construction of building like Steel work railings , ready mix concrete and other items used in construction of building ??? Comapny is already registered under K VAT.

Question added Jun 19, 2015 Students By vishal , CA , West Delhi

answers

387 views

Q. Transfer - I am a student of ipcc (group-2) and has completed my 1 year of training. Is there any process through which i can terminate my training period (which i had already served) and after passing ipcc (Group-2) i will continue my articleship in new firm from the begining. (is it possible

Question added Jun 18, 2015 Accounts By samarth , Muzaffarnagar

answers

334 views

Q. accounting of buyer credit - later year we show $126000 LC payable under contingent liability , however in current year , we take buyer credit against that lc , how we accounting of these transaction at , how currency fluctuation booked and at what exchange rate.

Question added Jun 17, 2015 Income Tax By ASHA RITESH VORA , CA , Jabalpur

answers

710 views

Q. TDS ON PURCHASE OF A PROPERTY FROM JOINT OWNER i.e 6 SELLER AND 3 BUYER BUT REGISTRY OF PROPERY ONLY ONE DOCUMENT - ONE OF MY CLIN HAS PURCHASE A PROPERTY FROM JOINT OWNER i.e. 6 OWNER AND PURCHASE BY 3 WITH JOINT NAME. CONSIDERATION RS. 1.10 CR., MY QUESTION IS THAT WHETHER LIABILITY OF 1% TDS U/s 194IA WILL ARISE OR NOT, AND IF ARISE SO WHETHER FORM NO. 26 QB FILL FOR EACH SELLER OR ONLY ONE FORM WILL BE FILL AND SUBMITTED... PLZ REPLY

Anwered By : PRIYANKA

Question added Jun 17, 2015 Income Tax By cabhavukgarg , CA , 110075

answers

261 views

Q. income tax sec 80IB - a industrial undertaking started manufacturing computer speakers in jammu in FY2011-12 , started claiming deduction from FY 2011-12. during Fy2014-15 , it undertakes substantial expansion by addition in plant and machinery and equipments ,manufactures speakers only , no new item added . will it be eligible for 100% 80IB deduction , being 4th year , in Fy 2014-15 despite of fact that substantial expansion had taken place in the same unit at the existing place ?

Question added Jun 15, 2015 Corporate Law By kailashkant choudhary , CA , Fatehabad

answers

547 views

Q. Provident fund applicability - If employee is getting salary more than 15000 and employee is not willing to contribute anything in provident fund in that case whether it is mandatory to contribute in provident fund?

Question added Jun 13, 2015 Audit By Brijmohan sharma , CA , Surat

answers

484 views

Q. tax audit us 44AB for A.Y-2014-15 - if i m giving tax audit report for financial year 2013-14 today-13/06/2015 than is there any penalty or responsibility on tax auditor.

Question added Jun 13, 2015 Audit By KIRAN PATEL , CA , Pune

answers

493 views

Q. REgistration with RBI - How to register with RBI for empanelment for concurrent bank audits.

Question added Jun 13, 2015 Audit By rinkisinghal , CA , Delhi

answers

517 views

Q. interest free loan - if client (pvt. co.)takes interest free loan to another pvt.co. then whats the resposibility of the auditor

Question added Jun 12, 2015 Accounts By Rakesh Kumar , CA , Delhi

answers

386 views

Q. Accounting Standard Issue - I am in a confusion whether One AS overrule another AS if both AS is applicable for the company?

The question is arise because of contradiction of Accounting treatment mentioned in the both AS referred above.

Question added Jun 11, 2015 Excise By SAMIT SHARMA , CA , Agra

answers

612 views

Q. EXCISE APPLICABILITY ON SHOE TRADERS - My client is purchasing shoes from unregistered manufacturers and selling them under its brand name @ Rs. 699 or above. Whether excise duty is applicable or not.

Question added Jun 10, 2015 Income Tax By Rakesh Kumar , CA , Delhi

answers

324 views

Q. Depreciation in the case of finance lease - Here, I want to know whether depreciation expense can be claimed by the lessor u/s 32 in the case of finance lease. The Question is arise because, As per AS-19 the lessee can claim extra depreciation on leased asset in the books in case of finance lease but income tax disallow the depreciation as you know about it and it becomes timing difference as per AS-22 and DTA/DTL wil be created. If, the depreciation expense on leased asset (finance lease)is not provided to the lessee whether asset given on lease by the lessor (finace lease) can claim depreciation on such leased asset.

Question added Jun 10, 2015 Corporate Law By CA SaWan kUmar , CA , Noida

answers

330 views

Q. Consolidated Financial Statements - A is 100% holding company of B & 80% holding company of C. A, B & C jointly holds 100% shares of D. Now, D is also holding company of many other companies like E.F.G.H, etc.. Whether, while making the CFS of A, subsidiaries of D also or not? Yes or No, please give a valid reason behind that? As per my understanding of the law, it should be considered in the CFS of A.

Question added Jun 10, 2015 Corporate Law By CA SaWan kUmar , CA , Noida

answers

335 views

Q. Wholly Owned Subsidiary - The Case is:
A Pvt. Ltd. is 100% holding company of B Pvt. Ltd.. Further, A & B Pvt. Ltd. jointly hold 100% shares (A & B - 50% each) of C Pvt. Ltd.. Whether, indirect subsidiary like in this case, C Pvt. ltd., will also be covered in teh definition of wholly owned subsidiary?

Question added Jun 09, 2015 Income Tax By Saurabh Aggarwal , CA , North West Delhi

answers

333 views

Q. TDS on Foreign remittance - IF royalty payment is to be made to foreign company based at Singapore have the TRC certificate but does not have the PAN Number, at what rate TDS would be deducted

Question added Jun 07, 2015 Students By monu , CA , Jaipur

answers

489 views

Q. not submitted form 109 within 30 days Read more at: http://www.casansaar.com/ask-question.html - Dear Sir, I have not submitted form 109 within 30 days from date of transfer of articleship. Pls tell me the procedure of submitting form 109 after 30 days from date of transfer of articleship ASAP Thanks

Question added Jun 06, 2015 Income Tax By B C Jain , CA , KolkataM.C.

answers

341 views

Q. loss on unused discarded assets in the case of a Govt Co - a boiler was being installed in a power co , but it was not found to be useful and therefore the value thereof was discarded after 2 years ? The co claims it be a revenue exp , whereas the dept disallows it as capital loss ? pl advise correct position

Question added Jun 06, 2015 Students By Atul Shroti , North West Delhi

answers

404 views

Q. Updation - How to update my Phone number on this site.

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Rambabu Senkarasetti

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Vikash Kumar Jha

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Rishabh Upadhyay

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Ashish Karundia

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Mrattunjay

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PRIYANKA

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CA. SURESH Kr. AGARWAL

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Answers Posted : 131

Vaneet Gupta

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Answers Posted : 120

Ketan Samdani

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