shanky budhiraja
03 January 2011 at 17:11
Please tell me if a partner who is a Company (public or Pvt) transfer its investments in equity shares to a partnership firm as capital contribution then what would be the tax implication in the hands of partner company and what will be the COA for the partnership firm of such investments in equity shares transfer by its partner as capital contribution
Please quote relevent sections for support of your of answer
Thanks in advance with regards
shanky budhiraja
03 January 2011 at 13:38
Please tell me whether free service provided by a lawyer will attract service tax laibility if yes or no plase give reasons also to support your answer.
further if yes what will be the taxable value and when the payment laibility would arise.
Anonymous
02 January 2011 at 14:56
Can Tax be levied on the unaccounted goods found in the business premises at the time of authorised inspection, since the incidence of tax under APVAT Act is
value addtion on sales.
Anonymous
02 January 2011 at 14:10
Advance waybill is required to be sent to the consignor for purchasing sensitive goods from the state of the selling dealer.While the goods are under transport and found to be under-valued, can VAT be collected on such goods under transport
Anonymous
01 January 2011 at 20:45
i am a businessman and i deals in hardware goods and mainly doing interstate sales from punjab to uttaranchal and we done all our business in 1 number and our bill is also very high in amount but when it crossed on the barriers the sale tax deptt stops it and said the bill is undervalued and ask for settlement and imposed a very heavy penalty what is the benefit to us for paying lot amount of taxes if we again has to pass through these things. what can we do in this matter
please favour me and reply me
manoj kumar saraswat
01 January 2011 at 17:20
sir/madam,
can a person who receives jewelery from his/ her son as gift can convert that into stock in his/ her business? plz tell provisions of Income Tax Act & Rajasthan VAT Act.
SYED MAHABOOB BASHA
01 January 2011 at 14:45
Sirs
A register dealer filing monthly returns regularly paying tax as per the computation of In Put tax credit unfortunately he does not reach the taxable limit of Rs. 10 lacs
assume his turnover for the year2009 is 800000/- Could it possible to forfeit the ITC u/s 41 of TN VAT.If so the small traders
can not bear the loss. Please clarify.
Thanking you
With Regards
S M Basha
jagadeeswaran.l
01 January 2011 at 09:05
dear experts,
I have borrowed loan from one X for purchasing of house from the housing board. the lender had given the money in the form of DD drawn in favour of the Housing board and i got the property registered in my name. since I am unable to pay the loan, I am willing to gift the property to him. in this circumstance, am I liable to pay any income tax, since I am not selling the property with any margin.
experts are requested to advice please and thanks in advance.
L.JAGADEESWARAN
B S Krishna
31 December 2010 at 12:09
What is the tax implication when an imported machinery originally brought in on lease terms later on bought by the lessee from the lessor-owner who executes a purchase agreement and delivery note from abroad?
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AGRICULTURE INCOME
HELLO SIR,
I AM WORKING IN A PSU AND HAS A TAXABLE INCOME OF AROUND RS.5,00,000/- ,,I ALSO HAVE AN AGRICULTURAL LAND OF 7 ACRES WITH AN INCOME OF AROUND 20,000..IS THIS INCOME IS TAX EXEMPTED OR NOT..?