A Ship Management Agent (Which is a Indian Co) provides ship management services to a ship (Which is also owned by Indian owners) which is sailing outside Indian terittorial water for a particular period. Whether the services provided during this period will be treated as taxable services (The question is not from the angle of export of services but whether services provided are taxable at all?)

If one exaggerates his profit by appreciating the closing stock value, Does it amount to any contravention of Income Tax Act and if the case would come under scrutiny, what is the maximum consequence of it ?
Whether any justification can be given.

According to Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 :

1. Do Listed Company need to make any YEARLY disclosures to Stock Exchanges as per the Regulations 13 (3) & 13 (4) ? Or only disclosures should be made if and only if there is some change in the shareholding ?

2. As per Model Code, Directors, Officers and Top Management need to make disclosures to Compliance Officer of the Company on yearly basis. Is there any prescribed form for that ? Or the Compliance Officer can obtain the same in any suitable format ?

3. As per the regulation 13(6), Company need to make initial Disclosures to the Stock Exchanges, on receipt of disclosures from the concerned person as per regulation 13(1) & 13(2). Suppose Company is in default of making such disclosures at the time of Regulation came into force, but now Company wants to make all the disclosures and rectify its mistake, then on which date Company should make the disclosures :

a. Date as on this regulation came into force (i.e. Disclosures as on year 2002), or
b. Current date, when company has decided to make the disclosures (i.e. Disclosures as on March 31, 2007)

Suppose Director Mr. X was holding 600 shares when this regulation came into force, and Company is in default for making such disclosures to SEs. And now, as on March 31, 2007, Mr. X is holding nil shares. Then the Company need to make disclosures for which period ? And if the disclosures need is to be made as on 2002 then what bout the change in holding ? Does that also need to be informed separately?

4. If the Director is holding nil share in the Company then Nil Statement is required?

Scenario:
1)Will get Salary in India and for the same amount will pay tax
2)As we are having Valid Work permit, Even we will pay tax in Poland for certain amount
3)Will get perdiems and perks in abroad

Query:
1)Can we open NRI account
2)If we can open NRI account, can we remit our savings, If yes is there any tax implication
3)Is there any tax implication if the company transfers perdiem from foreign account to our NRI account
4)As we are paying Tax in India and also in Poland, Is there any better way to handle funds with out any hassle.

Hi,

I had bought a property (@ Rs. 9.25 Lakhs)in Jan-2006 by taking home loan & claimed the tax benefit (principal as well as interest amount) for the financial year April 06 to March 07.

Now I have sold the property (@ Rs. 11.25 Lakhs) on 21 july 2007.Please clarify the following :-

Q1. Do I need to refund the tax benefit of the last financial year in this current year i.e. april 07 to March 08.

Q2. Do I need to pay capital gain tax? How it will be calculated?

Q3. If a property is sold after 3 years of buying the same

a. Income tax benefit obtained in these 3 years needs to be refunded back or not ?

b. will it fall under capital gain tax if the profit earned by selling the property is invested again in another property?

Q4. Please suggest a qualified CA in Navi Mumbai, Vashi or Koperkhairane

Hello,

I want to know that whether out of pocket expenses of auditors are liable for FBT

i'm already done with b.com n i cleared pe2 recently.....my concern is whether i should take
-coaching 4 final first n then continue articles
-go 4 articles 4 an year or year n half n then go 4 coaching
or
-articles n coaching together.

A proprietorship firm have acquired a plot of land The proprietor of the firm is HUF now the karta of the firm wishes to form a company whether such plot of land can be registered in the name of the company the agreement of sale exists in the name of the proprietorship firm only registration process is pending whether registration can be in the name of pvt ltd company whether Income tax attracts to proprietor please reply with relevant section with case laws

Hi,
Having just started with my private general medical consultancy as a recent medical graduate and a gross receipt for the year 2006-2007 amounting below 1.5 lakh,I am in for trouble filling up ITR 4. Falling in the category of "no account case" how should I fill up the columns of sundry debtors/creditors and stock-in-trade in the Part A-BS? As a matter of fact I have no debts and nor does anybody owe me anything. Moreover, how to ascertain stock-in-trade for me? I don't have any organised accounting system in place till now. I just have my case register with its details and a rough balance sheet. Also while mentioning "cash balance" I have to refer to my rough balance sheet, isn't it? Finally if I mention anything in the expenditure column of Part A-PL (no account case), am I supposed to be having all vouchers against them ready at hand?

Dear sir,

We were paid a sum of Rs.10,000/- to an advocate and by mistake our Accountant deduct TDS 20% instead of 5.1% and we paid the same the deducted amount in the Central Govt.A/c with out verification. but now we found the mistake and we are not in a position to issue TDS certificate for the amount,which we deducted. and at the same time we have paid all our dues under the same head for this current year. now my question is whether we can issue TDS certificate including excess amount? or whether we can adjust that excess amount in the subsequent year dues? Plz.. clarify.