Taxation queries [Resolved] [527]

PATRAS GREGORY KHALKHO 16 August 2009 at 10:57

foreign service provider

can i take credit of service tax paid by me on behalf of a foreign service provider not having office in india.are there any case laws on this issue?

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SUBHASH SHARMA 16 August 2009 at 00:15

TDS

DEAR SIR,

IS TDS APPLICABLE ON PROPRITORSHIP FIRM , IS THERE ANY LIMIT TO DEDUCT TDS LIKE SALE SHOULD CROSS 40 LACS ETC.

THAKNS/REGARDS

SUBHASH SHARMA
ADVOCATE

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TARUN JAIN 14 August 2009 at 16:13

A private limited company who is making profits since incorporation, has not declared any dividend.

Now, the Company wants to issue bonus shares using credit balance lying in Profit & Loss Account.

Can the Company do so?

If Yes, please explain the tax implication also.

Thanks & Regards

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verghese stephen 13 August 2009 at 20:19

sales tax dues

supreme court judgements on recovery of sales tax dues from the directors of pvt ltd company

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jiwan 10 August 2009 at 19:13

Central excise - LABOUR JOB

WE ARE A MANUFACTURE OF PLASTIC BOTELS AS PACKAING MATERIAL . WE PURCHASE RAW MATERIAL FROM A LIMITED IN MUMBAI & SEND FOR LABOUR JOB TO B LTD. IN MUMBAI WITH CENTRAL EXCISE ANEXURE 2 ISSUED BY US , WE ARE EXEMPT FROM EXCISE IN UTTRANCHAL BUT B LTD IS A EXCISABLE UNIT IN MUMBAI. B LTD. GIVE INTIMATION IN CENTRAL EXCISE DEPARTMENT AS A SALES OF PLASTIC PRODUCT NOT LABOUR JOB.

MY QUESTION IS :

1- IF B LIMITED DON’T INTIMATE FOR LABOUR JOB . CAN HE DO LABOUR JOB. IF YES WHAT HE CHARGED EXCISE DUTY OR SERVICE TAX ( HE DOES’T ADD ANY MATERIAL IN LABOUR JOB & CROSS EXCISE DUTY & SERVICE TAX EXEMPT LIMIT)

2- IF B LIMITED SEND MATERIAL AFTER LABOUR JOB,,CAN WE ISSUE F FORM AGST THIS TRANSACTION ALTHOUGH WE SEND ANEXURE 2

3-WHAT IS CONSIQUENCIES IF HE DONE LABOUR JOB WITHOUT ANY INTIMATION IN CENTRAL EXCISE DEPARTMENT FOR LABOUR JAB . PLEASE GIVE ANY NOTIFICATION NO.

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Guest 08 August 2009 at 16:20

F Form - Agency Contract

Hi.
Suppose A from Ahmedabad and B from Bomaby execute an agency agreement whereby A is Principal and B is Agent. Bow A will send material to B against F Form....

I want to know whether these entities have to intimate concerned Sales Tax Department of this Agreement?

I think B has to submit a copy and should intimate as he has to obtain F Forms from Department? A has no such need? Plz reply as to the exact requirement......

Tx n Rgds,

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navid mughal 08 August 2009 at 13:22

vat, sales tax

wheather a cottage industry making handicraft by using lac is liable to pay sales tax or vat etc?

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kiran 08 August 2009 at 04:41

Income Tax

Hello Sir/Mam,

One of my cousin had around 10 Lacs invested in his savings bank account. Later this month he received a letter from IT department demanding the source of this 10 Lacs.

Issue: This money was a sort of gain from the sale of a real estate property, hence he did not want to disclose the sale details.

Question:
1. What are the extreme steps that IT department could take against my cousin?

2. How to overcome this deadlock.

Thanks in Advance.

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VIJAY KUMAR SHARDA 06 August 2009 at 22:23

GIFT OF IMMOVABLE PROPERTY.

AN ASSESSEE PURCHASED AN OPEN PLOT OF LAND IN THE NAME OF HIS MINOR SON AND CONSTRUCTED THE COMMERCIAL PROPERTY (shopping complex) ON THE SAID PLOT AND REPORTING THE RENTAL INCOME FROM THE SAID PROPERTY IN HIS RETURN. NOW HIS SON HAS BECAME MAJOR. SINCE THE SAID PROPERTY IS IN THE NAME OF HIS MINOR SON THE PERMISSION FOR CONSTRUCTION IS OBTAINED IN HIS SON'S NAME AND HIS SON IS THE OWNER OF THE PROPERTY AS PER MUNICIPAL RECORDS AND RECORDS OF REGISTRATION OFFICE. BUT FUNDS USED FOR PURCHASE OF PLOT AND COST OF CONSTRUCTION BELONGS TO FATHER. NOW FATHER (ASSESSEE) WANTS TO GIFT THE SAID PROPERTY TO HIS SON.WHAT IS THE CORRECT PROCEDURE OF GIFT? can we gift the said immovable property (ie., shopping complex) merely book entries as per value recorded in the a/c books of the assessee? How Register the gift deed since the property is already in the name of son.

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VIJAY KUMAR SHARDA 06 August 2009 at 22:07

REGISTRATION UNDER AP VAT ACT

AS PER THE AP VALU ADDED TAX ACT 2005 LEAFLEAT 14 VIDE ITEM (1)(A) IF AN AGENT SELLS GOODS ON BEHALF OF THE AGRICULTURIST PRINCIPAL, HE IS UNDER NO OBLIGATION TO OBTAIN REGISTRATION UNDER THE AP VAT ACT. BUT AFTER ADDITION OF SUB-SECTION (10)(a) UNDER SECTION 4 WHAT IS THE POSITION OF AGENT WHO SELLS GOODS ON BEHALF OF THE AGRICULTURIST PRINCIPAL. IS IS NECESSARY FOR HIM TO OBTAIN REGISTRATION UNDER THE APVAT ACT ? PLEASE CLARIFY?

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