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Suhas M Deshmukh   13 September 2010 at 10:42

Document for Purchase Rejection

Respected Experts

Please guide me what type of document should be generated for sending excisable purchase rejection back to the supplier?

Under the excise invoicing rules we should remove any excisable goods outside the factory on "Invoice only". But out Mvat consultant insist on generating "Debit Note" instead of tax invoice.

Secondly if send purchase rejection to OMS supplier what is about CST and C Form? Whether we should obtain a C Form from the counterpart or issue a C form for net purchase value i.e. after deducting purchase return value?

Please reply ASAP

Regards

SANJIV BATRA   11 September 2010 at 17:50

DEPRECIATION UNDER INCOME TAX ACT.

WILL DEPRECIATION UNDER INCOME TAX ACT. BE AVAILABLE TO THE PROPRIETORSHIP FIRM ON BUSINESS ASSET SUCH AS BUILDING WHICH IS HELD IN THE JOINT NAMES OF MR.X SOLE PROPRIETOR OF THE FIRM AND HIS WIFE (MR.X'S WIFE)? PLEASE CLARIFY.

Anonymous   10 September 2010 at 11:16

stridhan

sir,
can anybody tell me whether the stridhan (including jewellery,cash, gifts etc attract any tax in india?
if yes then which item attracts which tax and what amount/rate?

prithwish sengupta   09 September 2010 at 18:10

cenvat on capital goods

does cenvat on electric lamps which are utilised for lighting of the manufacturing area be admissible for cenvat credit??
pls give case laws if any.
thanking you.

Anonymous   09 September 2010 at 15:39

income tax

My father is a pensioner. He wants to sell off his property and buy a small flat. Please tell me what will be the percentage of income and other taxes charged.

prithwish sengupta   09 September 2010 at 13:34

trust

can a trust invest its fund in the shares or debentures of a public ltd company??if yes pls. provide case law, if any.
thanking you.

Gaurav Chhabra   08 September 2010 at 18:15

Tax on donations made to a private trust in the shares

Dear Friends,

Kindly reply to this queries:

1.Is a donation by way of shares by an individual to a private trust taxable?

2.Can an Indian National donate amount to foreign trust? If yes upto what amount.

3.Can an Indian National send the fund to his/her child working abroad for buying car there? If yes upto what amount.

4.Will a WILL supercede nominations?

ritesh   08 September 2010 at 11:31

Octroi

Dear Sir,

I have a query on Maharashtra Octroi,but am unable to get any act or rules about it anywhere. request your goodself to mail it to me at csriteshjain@yahoo.in if you have anything on it.

Anonymous   06 September 2010 at 22:14

Capital Gain Tax

Dear Experts,

Recently (in Sep,10) I have sold my flat @ Rs 19 lacs which was bought in the June,1995 at the cost Rs 5 lacs.

My query is :-

1. How much tax I have to pay, if calcalculated with indexing method ?

2,How much tax I have to pay, if calcalculated with-out indexing method ?

3. Alternatively I can save whole Capital Gain Tax by Investing Rs 14 lacs (19-5)in bonds u/s 54ec.

Your expert opinion will be highly appreciated, please also guide me about advantages /disadvantages for section 54EC

Regards

Rajesh Kumar jakka   06 September 2010 at 10:21

Under AP VAT (Stock Transfers)

Dear Expert,

please let me know the following issues;

1. we have a branch in orissa, to where we are transferring stock on Form F basis.

then in AP VAT 200 form, where to show this stock transfer amount?

2. And we also have a branch in Andhra Pradesh,to this branch also we are transferring stock from our factory which is in Andhra Pradesh only (Intra State stock transfer).

so where this stock transfer amount to be shown in the form AP VAT 200.

please guide me in this regard as early as possible.