Girish
21 January 2013 at 19:13
Dear Sirs
please tell me the difference between shareholders agreement and share subscription agreement and if u have format of these to please send me to this email
girishhebri3@gmail.com
Thanks and Regards
Girish
Karan Gaur
21 January 2013 at 15:10
in case of excise raid it was found that RG -23 A Part - II didn't match with the tally entries i.e.credit for excise duty taken on differnt dates in respective records.
What are the penalties under this case.
Mukesh Khandelwal
21 January 2013 at 13:44
One of my clients has loss from other sources [interest paid for loans and liabilities] and have business income [interest from partnership firm and share of profit from partnership firm. Can he set off the loss from other sources to income from business?
denis
21 January 2013 at 12:11
Dear Sir,
We have received notice for default in filing of e Return and making payment of tax under profession tax act for the period from 01/04/2011 to 31/03/2012
We have already made payment on time & also filed return.
Kindly advise me how to reply department for profession tax department.
Sathish
20 January 2013 at 00:15
Hi, If a company is not meeting the Arm Length Price (International Transaction - with group companies), what is the penalty company needs to pay. can any one clarify
Regards
Sathish
Sivanath
19 January 2013 at 14:36
Poultry is coming under Live Stock or Not for the purpose of Sales Tax at Rajasthan. Please clarify the same with Supreme Court Judgements.
vinod janu
18 January 2013 at 19:42
sir, JCB machine is given on hire to a company @ 600000/- & which deduct tax on it U/s 194I,also given to another company @46000/- which deduct taxU/s 194C. (1).how can i calculate taxable income (2)can i calculate tax U/s 44AE under presumptive basis more than 8%.(3)under what head my income is taxable.(4)which ITR form shall required. sir plz reply. its urgent
joseph david
18 January 2013 at 17:11
In brief, the issue involved is that all the liners, who dealt with us, were paying service tax under` Business support services’ for their activity carried at respective ports & ICDs. When the goods imported at respective ports the liner will transport the goods to ICD, or as the case may be, to respective destinations. Similarly when the goods are exported from ICD to port the same will be sent to the respective ports by rail. But the liners will charge service tax in their bills which includes freight by rail viz., on carriage imports and service tax is being paid under `Business support services’ @ 12.36 %.
But the railway freight is classified under separate category of services under `Transport of goods by Rail’ vide Notification NO. 1/2006 ST dated 01.03.2006 as amended under Notification No. 26/2012 Dt 20.06.2012. But no service tax is payable under `Railway Freight ‘by the service provider till 30th Sep 2012 vide Notification No.9/2012 St dated 17.03.2012.
Subsequently I have contacted all the top personnel sitting at Mumbai, Cochin, & Delhi. But no body has properly responded on this matter except Mr. Kennedy, CEO of AP liner in presence of VPF on 28th Nov 2012. I have contemplated that their classification itself is wrong under `Business support services’ for the activity carried from ICD to port and Port to ICD when specific category of service viz., Transport of goods by rail’ already announced by the CBEC vide Notification No.1/2006 Dt 01.03.2006.Under this category of service the service tax liability is only 30 %on gross bill amount which includes other charges. This abatement is not available if the service provider has availed cenvat credit in respect of inputs or capital goods or inputs services for providing the said services.
Finally he has accepted my views and requested us to take opinion from senior consultant in taxation. We have informed him that we would take opinion from Retired Board Member from CEGAT. CEO said that they would change their on line system accordingly on this matter after getting the opinion from senior consultant.
But, in fact we came to know that ICD, Hyderabad, is paying service tax by availing abatement under Notification No.1/2006 S.T dated 01.03.2006. This is not correct, ICD supposed to pay service tax from 01.10.2012 only not prior to that since the said services are completed exempted till Sep 2012 under Notification No. 9/2012 Dated 17.03.2012.
In this scenario, the liners cannot apply for refund for the service tax paid erroneously @ 12.36 % on rail way freight since the service tax was paid under the category of `Business support services.’
Karan Gaur
18 January 2013 at 15:33
Whether interest on loan taken for the purpose of purchase of shares can be included in the cost of acquisition of shares.
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Income tax deductions
We a family of 3 have rented a house for 24K a month. The rent agreement is in the name of my father. My mother is govt employed and gets HRA of 8K pm and she claims deduction for income tax purposes. I also contribute to rent. Am i eligible for deduction and if so to what extent. My father is retired and does not claim any deduction.