plz let me know the calculation of 8o IB for the small scale industry and other benefits for exporting small scale industry. can a small scale industry can get 100% EOU status if yes what is the procedure for getting the same under industrial regulation act,1951

by mistake we have deducted tds @ higher rate than as applicable to contracts & professionals and paid to the dept.
can we issue a certificate as deducted & paid or as rates applicable, pl. advise

Are the tuition fees paid for pre nursery (pre KG) education eligible for deduction u/s 80 C?
Can it be considered as full time education?

What is the procedure to claim back the TDS deducted by the bank on interest on NRO FIXED DEPOSIT when total taxable income does not reach the thrashold limit.

Is there any way bank can be stopped from deducting TDS by submitting form 15 G etc.

Pl advice.

Regards,

S.Ghosh

What are the special tax benefits available to units in Special economic zone??

Are there any additional benefits which are otherwise not available to units under EHTP??

Please also elabrote on difference in benefits to SEZ Viz- a viz EHTP under ( excise, customs, income tax etc)


Regards

Dear Sir,
Happy new year. I have a query regarding applicability of deemed STCG on depreciable assets.
FACTS of the case:
X Pvt Ltd have a factory building constructed in February 1990 for Rs.10 lacs on a leasehold land (rights for 99 years). The building was used for production purposes upto September 2000. Hence till A.Y.2001-02, we were allowed depreciation under I.T.Act. The closing WDV on March 2001 was Rs.6 lacs.
From 2001 the building was let out for rent and income was considered under head House Property.
In June 2007, the building was sold for Rs.30 lacs.
QUERY : Whether we can claim LTCG with indexation from 1990 on WDV, claiming the asset to be no more depreciable and as a capital asset; and also claiming that the source of income generated from the asset has changed ?
If not what should be the taxability of the case ?

Thanking you for your reply.

what are the tax implications if a non resident receives dividend from an Indian co on GDR/ADR issued by it?

FACTS OF THE CASE

H Pvt Limited is a company holding 99% shares in S Pvt Limited. Balance 1% shares are held by individual shareholders who also hold shares in H Pvt Limited.
S Pvt Limited wishes to declare dividend of Rs.10,000.00 during the Financial year ending 31.3.08 and resultant dividend tax u/s 115O of the Income Tax Act will be Rs.1402.00.
H Pvt Limited will receive Rs.99,000.00 from S Pvt Limited as its share of dividend.
If H Pvt Limited wishes to declare dividend of Rs.1.00,000.00, dividend tax of Rs.14,025.00 will be levied.

QUERY

(i) Since the dividend income of Rs. 99,000.00 received by H Private Limited forms part of total income from which dividend is declared and dividend tax is paid , whether Rs.99,000.00 suffers double incidence of dividend tax.
(ii) If the answer is in the affirmative whether any relief is available.
(iii) Whether it is possible to transfer H Pvt Limited’s holding of 99% in S Pvt Limited to individual shareholders. In the event of such transfer what will be the mode of valuation of such shares.
(iv) In the event of above transfer whether the difference between fair value and face value will be treated as deemed income in the hands of shareholders.



CA Sumit Sarkar

Membership No.55816

Sir,

We have shown all expenses ie air ticket, hotel, lunch, dinner, outstation conveyance etc. under the head Tour & travelling and paid FBT @5% on all Expenses. I would like to know:-

1. Is it correct ?
2. whcih type of boarding & loading expenses taxable in FBT. What is the % of Taxable of Boarding & lodging exp.

Please advise us.
Regards,

Baljinder Singh

hello friends,
could u pls. send me the tax implications of construction contract:-
1.treatment of Income and expenses of construction contract.
2.sales tax impliction of such contracts.
3.service tax implication as also input credit availment by the contractor.
4.TDS on the contract and sub-contract.

my e-mail is ash_ok2002@yahoo.com

thanking you,
ashok