avneesh
21 November 2012 at 22:11
a firm had provide service -
in 2008-2009 of Rs. 5,00,000
in 2009-2010 of Rs. 11,00,000(s.t.paid on 1 lac)
in 2010-2011 of Rs. 6,00,000
in 2011-2012 of Rs. 2,00,000
Question- it was required for this firm to pay the service tax on full amount Rs 2,00,000 in f.y. 2011-2012
Vijay Labhane
20 November 2012 at 15:07
I have purchased car while working in Goa where I have paid full Road Tax. Now I transferred to Amravati,Maharashtra.Is it necessary to transfer my vehicle to MH state.If so whether I will have to pay Full Tax to Mh Govt again.Being All India cadre,I may again get transfer to other state,what then?
AK PUNDIR
20 November 2012 at 12:18
Dear Sir/Madam,
We are tyre retreaders (Resoling of old tyres)in India. Now we are planing to do tyre retreading for Bhutan customer (Received old tyre from Bhutan, Retread (Resoling) in India & Return to our Bhutan customers. We charges on 80% material Charges VAT/CST & on 20% labour charges we charge Service Tax @ 12.36%.
1. Now My first Query is what I do on taxtion point on tyre retreading for foreign country such as VAT/CST & mainly on Service Tax Charges.
2. My second Query is what I do on taxtion point if I Purchase Old tyre from India, then Retread them & supply to Bhutan Customers (Manufacturing of Retreaded Tyres) at present I sale these tyres in India @12.5% VAT/CST (Sale on tax rate as aplicable on New Tyres Sale) Please help/suggest me on both point, jobwork of old tyre (Retreading) & sale of old tyre after retreading (Manufacturing).
Your co operation will be highly appreciated. Thanks a lot.
Mohammad Midhat
20 November 2012 at 01:37
An icwa can do a private practise if yes so how ?
hetalsangoi
19 November 2012 at 10:05
My firm has purchased the industrial shed with Land & Building as on 31.oct2012 and firm get the vacant possession from the private Ltd co.
Agreement consideration is above the ready recknower value. this transaction is duly executed through paying stamp duty at M.V and conveyance deed is duly registered with Sub registrar of registration office.
now on the base of the request of private co has given on the lease to same private co for 11 months by the purchase party i.e. firm. one of my friend suggest that it is sale lease back transaction. but when i read entire the article on sale lease transaction, i come to summary that my firm has purchased that assets as to create the own my firm interest.it is not the finacial arrangement between my firm & private co.
now my concern is that
1.can it is sale back transaction ,as my agreement is duly stamped with paying require stamp duty as well as registered.
2.my firm has taken loan to finance this property to purchase.
3. which as applicable?
4.should my firm can claim depreciation for the half year i.e.7.5%
5.how to account lease rent recepit? pl guide me & also suggest the supporting section which can give me broader understanding on above case.
Vinodananda
18 November 2012 at 20:23
Hi,
I have sold my 12 year old property for Rs 30 lac in the month of sep -12. I was invested approx. Rs 10 lac for the sold property in the year of 1999 – 2000 but i don't have any document for this investment. My question is how to show this in tax calculation.Please advice.
Bhalnish Desai
17 November 2012 at 09:18
Can a manufacture do trading of the same goods. If yes please give us the procedure for getting Trading Licence from Central Excise.
Subrahmanyam
14 November 2012 at 19:43
Hi,
If a company incorporated in US and providing services - advisory of nature to Indian citizens through online -
- is that company required to be incorporate in India
- what is its taxable status as per Income Tax act
pooja dedhia
13 November 2012 at 10:35
My father has firm and let out the property to private co whose paid up capital is below rs 1 cr.
fIRM RECEIVE THE RENT P M 165000 ON IMMOVABLE PROPERTY I.E. LAND & BUILDING WITH OTHER STRUCTURE.
LL FEES PER MONTH rS 165000
LET OUT PERIOD 11 MONTHS -NOV 2012 TO OCT 2013.
IS LIABILITY OF SERVICE TAX IS APPLICABLE TO PARTNERSHIP FIRM FROM THE PRIVATE CO?
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Land ?
A PRIVATE LIMITED COMPANY ENTERED INTO A REGISTERED AGREEMENT WITH A PARTY TO ACQUIRE A LAND WITH A CONSIDERATION OF RS. 10,00,000 /- AND MADE A PART PAYMENT OF RS. 2,00,000 /- BUT BEFORE FINAL PAYMENT AND REGISTRATION OF THE LAND THE COMPANY SOLD THE LAND TO THIRD PARTY UPON A CONSIDERATION OF RS. 12,00,000/- , NOW THE QUESTION IS HOW THE PROFIT OF RS. 2,00,000/- WOULD BE TREATED IN THE HAND OF THE COMPANY . WHETHER IT IS CAPITAL GAIN / SPECULATIVE INCOME / OTHER INCOME.