Please tell me whether the Registration certificate(Profession Tax) is to be taken for the partnership firm.

Thanks in advance..

hi expert

I want to know the scope of Sec. 45(4)in case of firm.

(1) what is the meaning of the term used in the above section- "distribution of capital assets on the dissolution or otherwise".

does it mean distribution to
(i)partner only or
(ii) anyone ( e.g. creditor for settlement of their debt.)

by the way, as per ICAI modules, it includes the case of business acquired by the company on dissolutin of firm, except the cases where condtions of sc.47(xiii) is satisfied.

(2) what does "on dissoltion or otherwise" mean?
does it mean that - sec. 45(4) attract even in case of transfering asset by a firm , while it is in operation (i.e. not in the process of dissolution)

we are a mfg.co.We purchased raw material entry tax paid and not paid, and finished goods supply to other parties.Our agreement with party ,(Rate + Taxes) so party wants entry tax paid goods, party not wants to paid entry tax. party said are you charges entry tax add our bill.
who is liable for entry tax party are our co.

WE are machinery manufacturers. We are billing machinery and paying VAT/CST on machinery billing. We are also doing the service under 'Erection,Supervision/Installation, Maintenance or repair services' of the above machinery. For this service we are registered under 'Central Excise Department (Service Tax) under Service provider of 'C&I, Maintence or Repair service'.

We are billing separately and collecting tax and paying to service tax dept.

Can VAT is chargeable on 'Erection Supervision, Maintenance,repair service' apart from 'Service Tax'

We are under 'Andhra Pradesh Value Added Tax'

The AP commercial taxes are proposing the tax on 'Erection Supervision, Maint.Repair Service.

Can any body advise/help me is this correct. Can we pay the VAT on Service Bills.

State Consequences and suggestions if Form submission is delayed.

DEAR EXPERT,

OUR CLIENT IS PARTNERSHIP FIRM FORMED IN DEC 2010. THERE ARE TWO PARTNERS Y AND S.
Y S SHARE IS 70% AND Ss SHARE IS 30%. CAPITAL INTROUCED BY 70000 AND 30000 RESPECTIVELY.

S HAS NOT CONTRIBUTED ANYTHING EXCEPT RS 30000. ALL THE EXPENSES MADE BY Y FROM HIS PERSONAL CASH.

NOW THEY WANT TO DISSOLVE THE FIRM.
HOW TO SETTLE THE ACCOUNTS.?
I HAVE PREPARED THE BALANCE SHEET AS ON 30/08/2011, AND DIFFERENCE BETWEEN CAPITAL ACCOUNT BALANCE OF Y AND S, S HAS TO PAY IT TO Y.ALL OUTSTANDING LIABILITIES BOTH THE PARTNERS HAS TO BRING CASH IN THEIR PSR.

AM I ON THE RIGHT TRACK<
PLZ SUGGEST

Hi,

I need Professional Tax Rate slab for F.Y.2011-12 for the Karnataka and Orissa State.

Thanks in advance.

In which favour chq to be issued in payment deposit of professional Tax to any Nationalized Bank in Kolkata

Need Guide as Urgent basis pls

Dear All,

Entry Tax is leviable on basic value or invoice value? plz guide with provisions of the Act.??


Regards

Abhijit

My mother made a capital gain few days back.
a) Is it safe if she made investment in physical form of gold/silver. Or is it safer to invest in Gold Bonds.

b) How to show this investment(if physical) in IT Return each year?