PRATEEK GOYAL
05 June 2010 at 15:35
Whether loan documentation and evaluation services provided by DSA/DMA of Banks falls under BAS or it falls under BSS. Also whether these services would not get benefit of basic exemption under notification 6/2005, being branded service. A quick response from Experts is eagerly awaited.
Also please quote the relevant citation, if any, on this matter.
Thanks in advance.
Anonymous
04 June 2010 at 14:35
DEAR EXPERT
KINDLY ADVICE THE FOLLOWING MATTER
WHEN A CONTRACTEE SUPPLIES DISEL TO CONTRACTOR FOR CARRYING OUT THE CONTRACT AND THE CONTRACTEE BOOKED THE DISEL AS HIS EXPENSES WHETHER TDS IS TO BE DEDUCTED FROM THE BILL AMOUNT OR THE BILL AMOUNT AND THE VALUE OF DISELS SUPPLIED TO HIM
REGARDS
n v sudhakar
04 June 2010 at 11:58
Ours is a service industry registered under Service tax. While providing services to our clients we use some packing material. To save cost, we procured a corrugated manufacturing machine, and making corrugated cartons on our own by buying craft paper. While billing to our clients we do not show packing material cost separately i.e, our billing includes packing material cost. we are paying required service tax on these billings.
Now the query is whether the above comes under manufacturing and whether we need to take central excise licence and pay excise duty? If yes, how to calculate the assessable value. Again if yes, whether we need to pay both central excise and service tax on a single service?
N V SUDHAKAR
Anonymous
04 June 2010 at 11:18
One company to whom we sales, in not making payment since last 12 months of huge amount. Now a days, this company make a change in main object of its business. As far my knowledge is concern, company has filed petion before ROC/CLB, along with list of Creditors (Previously it was Form No:7). As the company is not giving copy of account and payment, I want to know whether my name in creditors list or not. Pl. help me how to get certified copy of Creditor's list. It is confirmed that main object changed on 17th February, 2010 (from search of ROC). Any one can help me ???
Thanks a lot in advance,
Sanjay Sharma
04 June 2010 at 11:07
Dear Experts,
We area a Company of manufacturing Tractors. We are exporting our tractors to various countries all over the world under cover the Excise Notification No. 42/2001 dt. 26.06.2001 as amended. We have submitted the required LUT for 12 Months for Jan-2010 to Dec-2010.
Tractors is exempted for the payment of excise duty by the Notification No. 23/2004 dt. 09.07.2004. Now, the CBE & C issued a new notification No. 24/2010 –(N.T.) dt. 26.05.2010 with the condition “
(iv) that export of excisable goods which are chargeable to nil rate of duty or are wholly exempted from payment of duty, other than goods cleared by a hundred per cent export-oriented undertaking, shall not be allowed under this notification;”
After issue of this notification as per my understating it is clear that there is no need for the submission of LUT or bond to export the manufactured goods while exempted for the payment of excise duty duly specified by a notification.
I want to clarify the following questions ---
1.Are we require to submit the LUT for future export?
2.Can we cancel our LUT and stop complying with the terms and conditions of the notification No. 42/2001 with immediate effect, as we have to sent the triplicate and quadruplicate copy of ARE-1 on post export basis?.
3.Can excise department put force on us to continue the exiting LUT and compliance under it ?
Regards
Sanjay Sharma
prithwish sengupta
03 June 2010 at 15:22
can private trust be a shareholder in a private company. if yes then what are the requirements for the trust??and under which section of companies act?? is there any tax implication under income tax act?? respective case laws if any.
thanking you.
Anonymous
03 June 2010 at 10:51
Gd mrg to all..My client purchase land in 1975.He was constructed approx.1100 Sq feet in 1988 and 1100 sq feet in 1995 but their is no documentary evidence of construction.sale out of house in March 2010.
Q.what is solution for capital gain calculation purpose.
Anonymous
03 June 2010 at 10:47
Gd mrg to all..My client purchase land in 1975.He was constructed approx.1100 Sq feet in 1988 and 1100 sq feet in 1995 but their is no documentary evidence of construction.sale out of house in March 2010.
Q.what is solution for capital gain calculation purpose.
Anonymous
03 June 2010 at 10:44
Dear Sir/Madam,
I would like to know whether TDS need to be deducted under section 194J or 194C on the amount paid to language translators in the following two situations -
a. Seperate contract with each individual translator specifying the rate for each word translated?
b. Hire the service from a translating company which provide the said service?
Will the translataion fall within the definition of fee for technical service as defined in explanation 2 to section 9(1)(vii)? If yes, is there ay case law or circular or notificaiton to this effect?
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Gift Tax
Sir,
There has been conflicting answers received for my query. I shall be thankful if you kind enough to clarify the following on the GIFT TAX
1. the original value of the shop purchased 5 yers ago is say 30 Lakhs
2. Present market value as per Circle rate is say 35 Lakhs
3 Now a sale deed was prepared at discounted price of Rs 5 Lakhs as it was sold at Rs 5 lakhs to "relative" (son of elder Brother) out of love and affection .
Kindly let me know whether the Income Tax is Payable at Rs 35 Lakhs by the Donee (Real nephew) OR
An amount of 5 Lakhs is Taxable OR
It is total tex free as it falls in the Gift Categories
I shall be thankful if u kindly let me know the details and other precaution to be taken while preparaing the sale deed and gift deed
Regards
Riya