|
|
|
| o |
e-filling of ROC |
|
"As we know that ROC filling date is near so we nead to e-filling software for ROC.
Now Buy MCA filing Software: ROC & do TDS & IT filing free. For details mail us at info@kdksoftware.com or SMS KDK S to 56070" |
|
|
|
|
| o |
Society Registered under society registration act |
|
"What is the last date of Filing the audited accounts to the registrar? what documents to be submitted?" |
|
|
|
|
| o |
Inter head service tax credit |
|
"If an assess is registered is xyz service. Can he take credit of input service availed for which he is not registered . Eg A company is resitered with Courier services and business auxilary services. It has taken services of CA for which it is not registered. Can he take credit of service tax paid to such CA. For either answer, it will be good if specific section is provided" |
|
|
|
|
| o |
Calculation of WDV value of an Asset after 'n' Years |
|
"I am facing problem in Calculation WDV method by a single formula in Excel.
I also want to know if an asset ( Furniture and fxiture) is purchased on 1-08-1992 for Rs. 10 crore, which depreciated @ 18.10%. How to know its WDV as on 31.03.2011.
As per my calculation, Rs. 10 crore multiplied by (100-98.16) = Rs. 18, 43, 648.12.
(**98.16 is multiplying factor of 18.10% after 20 years)
Is my interpretaion is correct. Need early reply as to finish audit ASAP.
Regards
CA. Manish Kumar
9650412711 " |
|
|
|
|
| o |
tds on shipping co |
|
"what is the tds liability if a company is registered in india as well as outside india." |
|
|
|
|
| o |
Deduction U/s 10B |
|
"Dear Friends
As per Section 10B of Income Tax Act - Deduction U/s 10B is available only (apart from other conditions mentioned in section 10B) to those business which is not formed by splitting up or reconstruction.
So my query is what does the word RECONSTRUCTION means? If a propritorship firm is converted into Partnership firm does this tantamount to Reconstruction? Propritorship firm created in 2003-04 (carrying on the business of creating the computer software) and converted into partnership firm in 2004-05 (carrying the same business as earlier). Are there any case laws available on this issue?
Kindly Help" |
|
|
|
|
| o |
Action for intimation u/s 143(1) recieved |
|
"In the intimation received, the deptt. did not allowed the depreciation since the depreciation chart was not filled even though it was correctly filled in the profit & loss a/c & while mentioning the business income, the depreciation amount has neither been added nor been deducted being similar amount. So what should be the counter action on such issue whether rectification u/s 154 or appeal should be filed or return should be revised ?" |
|
|
|
|
| o |
Charitable Trust u/s12- Tied up and Donation in kind |
|
"1.If donation is in kind being a piece of land or ambulance and food items, how to account for them in books ?? and what is the tax treatment ??
2.Is donation in kind or donation for capital assets are treated as Corpus donation?
3.How to account for donation for specified purposes – for capital items ( say land or ambulance) and for other trust objects, which are specified by donor- say for books or for blood camp ?? And what is the tax treatment ?
" |
|
|
|
|
| o |
Difficulty in getting clients |
|
"i want to know the procedure for getting audit clients." |
|
|
|
|
| o |
section 10B |
|
"Please provide me some information / case laws in the matter of defnition of TOTAL TURNOVER/EXPORT TURNOVER. Whether it includes Currency rate fluctuation profit, frieght and insurance on exports. " |
|
|
|
|
| o |
Response of Query |
|
"Sir,
What is the reasonavle time to responde the query placed on portal and what is selection criteria for answer the query. " |
|
|
|
|
| o |
Export of services |
|
"ONE OF MY CLIENT IS BOOKING TOUR IN INDIA FROM INDIAN RESIDENT FOR FOREIGN TOURS. HE IS RECEIVING PAYMENT IN INR. HE IS BOOKING HOTELS ETC. IN FOREIGN COUNTRY & MAKING PAYMENT IN USD. WHETHER SERVICE TAX IS APPLICABLE ON THE SAID SERVICES. ALL THE SERVICES UTILISED BY THE CLIENTS INCLUDES VISITING FOREIGN COUNTRIES & RECEIVING SERVICES IN FOREIGN COUNTRY" |
|
|
|
|
| o |
What are the new provisions regarding taxability of meal coupons and is there any tax free limit |
|
"What are the new provisions regarding taxability of meal coupons and is there any tax free limit?" |
|
|
|
|
| o |
Section 56(2)(vii) Receipts without consideration / inadequate consideration |
|
"Whether the following will be included in Income from Other Sources u/s 56(2)(vii) ?
1) Receipt of shares at face value (below book value) by ind. or HUF from a closely held company.
2) Bonus Shares or Right Shares(below book value) recd. from a closely held company
3) Bonus Shares or Right Shares(below market value) recd. from a listed company.
4) Fresh issue of shares by a closely held company at face value (below book value)to its existing shareholders
" |
|
|
|
|
| o |
APPLICABLITY OF MAT Proviso- U/S 115 JB |
|
"Sir,
IN case of Banking Company , Insurance company or electricity company who prepare thair financia statements as per their parent body guidlines ( i.e RBI , IRDA , Electricity Reg Bord ), wheas the depreciation ( like on computer @ 33.33 % in case of bank as laid down by RBI ) and other provisions are not in agreement with SChedule VI to the Companies Act , however laid before the AGM in accorance with THe Companie Act.
Whetheh these companies do require to prepare fresh Profit & loss account as per schedule VI , which is not placed in AGM nor audited by staturory auditors " |
|
|
|
|
| o |
TAXATION ON REVERSAL OF INCOME |
|
"One of foregin company charging the royalty payment from its subsidiary company in INdia. The Indian subsidiary company was deducting & deposting TDS as per appliable law. All the TDS returns were filed by Indian Company.
At the end of the year , due to havey losses to indian company, both the company decided to reverse the royalty transaction. Indian subsidiary reversed the royalty payment in its book as on 31.03.2010. THe total royalty payment is Rs 100 lacs and Withholding / TDS Tax was Rs 10 lacs.
1. Whether the Indian Company should revise the TDS Returns FOR ALL FOUR QUARTERS .
2. Whether the forign company , filling the return regulary can file the return with NIL Income or gross income u/s 115A @ 10 %, as receipint of the services also reverese the entry and no expenses claimed in its books of account." |
|
|
|
|
| o |
CAN A PARTNER CAN BE ONLY FOR PROFITS |
|
"SIR, ONE OF MINE CLIENT WANTS TO FORM A PARTNERSHIP WHERE ONE OF THE PARTNER WANTS TO BE SHARING ONLY PROFITS NOT LOSSES. IS IT ACCEPTABLE UNDER INDIAN PARTNERSHIP ACT, 1932" |
|
|
|
|
| o |
TDS ON PAYMENTS MADE TO FOREIGN SHIPPING AGENT |
|
"My client is a Shipping and clearing agent operating from India. He provide clearing services to importers and exporters and remit the Air/ sea freight to overseas agent on behalf of his client. Whether he is liable to deduct TDS on international freight? " |
|
|
|
|
| o |
Can credit of service tax paid on Input service be used to set off liability of service tax on output service which are not the same as input services |
|
"As per CENVAT credit rules such set off is possible, however my question is a little different. The assesse concerned is corporate office of a construction company which has input services like Pre bid consultancy for upcoming projects, the only output service the company has at corporate office is Renting of Immovable property. The concern is whether such set off is possible for any input service against any output service "OR" the said set off can be taken if and only if the output service is any kind of consultancy relating to Construction activities ? " |
|
|
|
|
| o |
TDS on Travelling ticket reimbused to Employees |
|
"One MNC Company employs certain Expatriate Employees and gives them to and Fro Tickets for home town every three months as per the Contract.
Do the Company has to add these travelling Cost into perquisites of the Employees for the purpose of TDS . Any differennt views if the purchase of ticket is taken by Employees first and reimbursed to emplyees on the basis of proof of tickets." |
|
|
|
|
| o |
Documents required for Centralised Registration |
|
"Which Documents are required to be submitted in case of Centralised Registration?" |
|
|
|
|
| o |
Rate of Service Tax |
|
"What is rate of Service Tax at present?" |
|
|
|
|