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Recent Questions

Question added Apr 01, 2014 Corporate Law By NAROTTAM MAHESHWARI , CA , Indore

answers

244 views

Q. Resignation from Director-ship - I am a director in a Pvt.Ltd Company, I want to resign from Director-ship but company is not accepting my resignation, what are the option available to me for resignation from Director-ship.

Question added Apr 01, 2014 Income Tax By Linta Abraham , CA

answers

303 views

Q. Direct Taxation - Is stamp duty paid towards increase in authorised share capital for meeting working capital requirements allowable under Income Tax Act while computing taxable income?

Question added Mar 31, 2014 Service Tax By Goutam Sabyasachi , CA , East Delhi

answers

390 views

Q. Service Tax - Input - Dear All,

A exporter company named X ltd, procuring manpower service for manufacturing of goods and GTA service for procurement of material to be consumed.

X ltd had paid service tax under reverse charges. X ltd manufactures good only for export.

My Query is, can X ltd get refunded Ser Tax Paid on input services if yes please let me the procedure. If there is another way to get benefit please advise.

Regards,
Goutam
9015940826
goutamca@gmail.com

Question added Mar 31, 2014 Income Tax By ROHIT GOEL , CA , New Delhi

answers

239 views

Q. house property - if the assessee purchase the residential plot ,can he claim deduction u/s 54 on sale of said plot.

2. if any assess purchase the urban agriculture land on loan from relatives then interest payments can be added to cost of land

Anwered By : SUBHASH KUMAR JHA

Question added Mar 30, 2014 Audit By CA Mordhwaj Garg , CA , Korba

answers

331 views

Q. Audit - can we accept Concurrent audit of any bank branch if our partner having loan in that branch.

Question added Mar 29, 2014 Income Tax By himani , Delhi

answers

260 views

Q. incometax - Dear Sir As I am working in a public ltd Company my give loan to other public ltd co. now receving co. convert loan into equity shares so i want to know what is the tax liability or any other tax provision for this loan amount is 437410000 kindly update me sa soon as possible.

Question added Mar 29, 2014 Income Tax By sunil agrawal , CA , Jaipur

answers

220 views

Q. TDS - A assessee which is a co-operative bank which net worth is negative & are in liquidation. Assessee is not in a positon to pay even principal amount. It has claimed interest expenditure without deducted TDS on interest. Depositors are not members. TDS sectonn have also issued demand notice of TDS. Three years have gone in liquidation process. My question is that whether TDS was deductible.

Anwered By : CA Satuti Mahajan SUBHASH KUMAR JHA

Question added Mar 28, 2014 Service Tax By SANDEEP KUMAR , CA , East Delhi

answers

2409 views

Q. service tax on private road construction before negative list - our one of the client is engaged in construction of roads for developer of resid ential complex since 2010. such road is constructed at the project site of developer for use of residence of that project. Service Tax Department has a view that since road is part of construction of residential complex it will be taxable since 2010. pls clarify.

Question added Mar 28, 2014 Students By poonam , Delhi

answers

303 views

Q. articleship - last date for registration for articleship for final attemptof nov 16

Question added Mar 28, 2014 VAT By Vijeta Nathani , CA , Bharuch

answers

715 views

Q. VAT Treatment in case of Subsidy - I have a query how to calculate VAT in case of Subsidy.
For example, Mr.A is purchasing goods worth rs.1,00,000 by paying CST. He has received subsidy from state government for the said transaction for rs.30,000. He sells goods to intra state registered dealer. Whether he should charge VAT on Rs.1,00,000 and then give credit note for the subsidized amount i.e. Rs.30,000. Or he can Net off the amount and can charge VAT on Rs.70,000(1,00,000-30,000)?

Please, Assist for the same.

Regards,
Vijeta

Question added Mar 28, 2014 VAT By Deesha , CA , South Delhi

answers

548 views

Q. Taxation Issue - Does brand comes under Intangible Assets Category? Does vat apply on sale of Intangible Assets?

Question added Mar 28, 2014 Income Tax By orjoon , CA , East Delhi

answers

157 views

Q. Taxation - Is India a highest taxed country in any terms?

Question added Mar 27, 2014 VAT By vivek jha , CA , East Delhi

answers

617 views

Q. dvat - kindly do confirm last date of payment of Dvat for march ,14. is it mandotory to pay dvat on or before 31th march ?

Question added Mar 27, 2014 Accounts By Vansh Malhotra , New Delhi

answers

448 views

Q. Write off of Reserves - What is the procedure for write off of Shares forfeiture reserves & Debentures forfeiture reserves. Kindly resolve query with statutory document & treat it as urgent.

Question added Mar 27, 2014 Accounts By arun , West Delhi

answers

367 views

Q. accounting standard - Does Accounting Standard available in Hindi also ?

Anwered By : shankygarg

Question added Mar 27, 2014 Service Tax By nikita , CA , Keshod

answers

2726 views

Q. difference between workcontract service and construction service - my query is : what is difference between work contract service and construction of residential complex service ? i have read definition of both but i am unable to understand difference between two. so please give your explanation with examples.

second thing is that what is meaning of "TRANSFER OF PROPERTY IN GOODS" as term used in work contract service?

Question added Mar 26, 2014 Students By govind gupta , CA , Vrindavan

answers

267 views

Q. Part time cop - Can a part time cop holder open a office

Question added Mar 26, 2014 Income Tax By CA KIRAN LONDHE , CA , Mumbai

answers

411 views

Q. Transfer pricing - XYZ LLC is US based LLC . Mr. A is founder of it . Mr. A is NRI , person of Indian origin .
At present XYZ LLC is entering into contracts with Software engineers in India for performing software development in India on its behalf for its foreign clients . Liability to bear Indian taxes is on Engineers .
Entire risk relating to software development is handled by XYZ LLC and all clients are foreign clients.
Now they have established private limited company named “ XYZ India Private Limited “ with motto of instead of entering into contract agreement with engineers , keeping them on payroll of XYZ India Private limited “. i.e. outsourcing to Indian company .
Shareholding pattern of XYZ India Private Limited .
Mr. A – 99% in Indian currency – NRI , person of Indian origin
Mr. B- 1% Indian resident .
MR. A & Mr. B are directors.
Nature of transaction:-
XYZ India private limited will raise invoice on XYZ LLC covering reimbursement of expenses like Salary of engineers, rent , and other business related expenses plus some mark up.
Want to know :-
1. Treatment for above transaction under Service Tax – Would it be treated as export and no service tax ?
2. Are XYZ LLC and XYZ India Private Limited associated enterprises ? What would be its effect on service tax liability?
3. Would it be covered under Transfer Pricing ? and How much mark would be sufficient ? what documents would be required ?
4. Cost benefit analysis - Service tax and Income tax point of view . How can the above mentioned transaction entered to minimize taxes ?

Question added Mar 26, 2014 Students By Mohammed Abid , Hyderabad

answers

269 views

Q. ca final attempt - Dear sir
good morning....i wish to bring my doubt infront of you....i qualified ipcc in NOv 2011, and and my articleship commenced on 28-4-2012 at one of the principal & i took termination on 18-09-2012. then i joined at another principal on 12-10-2012 & iam continuing there till now....Iam confused about my final attempt whether it comes in Nov 2014 or May 2015 ....Please help me regarding this doubt so that i can plan a strategy for Ca final....

Question added Mar 26, 2014 Excise By Hemant , CMA , Mumbai

answers

341 views

Q. Dealer return - Dear Sir,

May I request your guidance on the topic information that need to be shared in the Dealer return I would like to share various scenario in the following paras

Facts :
Assessee is selling its manufactured product through various depots. Some of the depots of the assesssee are registered with Excise department as First stage dealer.

Situation 1.
Period 01/10/2013 to 31/12/2013

On 4th Oct 2013 there is dispatch from factory to Excise registered depot. ( qty 100, Assessable value – INR 1000 Excise duty –INR 140). Said consignment is received in depot on 10th Oct 2013. During this period no sales took place from depot.

Question :
What information to be provided in the head : Document based on which Credit is passed on

Situation 2.
Period 01/10/2013 to 31/12/2013

On 4th Oct 2013 there is dispatch from factory to Excise registered depot. ( qty 100, Assessable value – INR 1000 Excise duty –INR 140). Said consignment is received in depot on 10th Oct 2013. During this period on Depot raised excise invoice for 30 qty and excise duty passed on to customer through invoice was INR 42. Commercial invoice was raised for 40 qty and no excise duty is passed on to customer ( value of Excise was added in the basic sales price)

There was one more stock transfer from factory on 20th Nov 2013 ( qty 50 Assessessable value – INR 5000 Excise Duty – INR 70). All the material is in stock.

Question : 1. What information to be provided in the head : Document based on which Credit is passed on and what values to be shown.

Situation 3.
Period 01/10/2013 to 31/12/2013

On 4th Oct 2013 there is dispatch from factory to Excise registered depot. ( qty 100, Assessable value – INR 1000 Excise duty –INR 140). Said consignment is received in depot on 10th Oct 2013. During this period on Depot raised excise invoice for 30 qty and excise duty passed on to customer through invoice was INR 42. Commercial invoice was raised for 40 qty and no excise duty is passed on to customer ( value of Excise was added in the basic sales price)

On 10th Jan 2014 Excise invoice was raised for balance 30 qty and Excise duty passed on to customer is INR 42.

There was one more stock transfer from factory on 20th Nov 2013 ( qty 50 Assessable value – INR 5000 Excise Duty – INR 70). All the material is in stock.

Question : 1. What information to be provided in the head : Document based on which Credit is passed on and what values to be shown.

Question added Mar 25, 2014 Corporate Law By CA Karan Dawar , CA

answers

207 views

Q. Affix DSC on MCA Forms - Hi! Please Help. I am not able to attach DSC(.pfx) to MCA forms (pdf forms). When I click on sign box nothing happens, rather I am not able to click there. I have latest adobe reader and latest run time java. What should i do?
Thanks.

Question added Mar 25, 2014 Students By arbind shah

answers

806 views

Q. About Total Debt Obligation - How to calculate Total debt obligations matured in the year and from which document i calculate this for the period as on 31.03.2012 & 31.03.2013 plz replly me

Question added Mar 24, 2014 Income Tax By puneet garg , CA , Ludhiana

answers

216 views

Q. LATE AUDIT & ITR - An assessee has approached me whose partnership firm had sales of Rs.400 lacs in FY 2012-13. Neither ITR has been filed for Partnership Firm and nor it has been audited. Now what are the remedies available with him so that minimum penalties are levied on firm? Whether Online audit reports can be submitted now?

Question added Mar 24, 2014 Audit By Ranjit Kumar , Delhi

answers

337 views

Q. empanelment under CAG - how to get empanelment with CAG

Experts Panelist

Rambabu Senkarasetti

Accounts, Audit, Corporate Law, Finance, Income Tax, Service Tax, Students, VAT

Answers Posted : 409

CA Satuti Mahajan

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 291

Vikash Kumar Jha

Accounts, Audit, Banking, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 270

Rishabh Upadhyay

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 257

Ashish Karundia

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, Income Tax, Service Tax, Students, VAT

Answers Posted : 257

Mrattunjay

Accounts, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 220

PRIYANKA

Accounts, Audit, Corporate Law, Excise, Finance, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 136

CA. SURESH Kr. AGARWAL

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 131

Vaneet Gupta

Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT

Answers Posted : 120

Ketan Samdani

Accounts, Audit, Corporate Law, Excise, Finance, GST, Income Tax, Service Tax, Students, VAT

Answers Posted : 117

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