Our Company is in the field of infrastructure development. Company regularly obtained services relates to construction from proprietor firm, in which our companies director is proprietor. As CS of the Pvt. Ltd. company I am not able to judge whether these service transaction are at prevailing market price to confirm the applicability of Section 297. Presently paid up capital of Company is Rs.6 Crore. Professional friends please provide some suggestion on the matter

I have filed Form 23 for one of my client which is a public limited company attaching board's resolution approving text of advertisement for inviting deosits from public.I received a query from MCA asking under which provision of the Companies Act is this form filed?I had mentioned that the form is filed under sectin 58A of Companies Act.They also said that the text of advertisement is not attached with the Form 23 and hence it is not approved.I knew Form 62 is required for filing text of advertisement but their query has made me confused.Can you suggest the correct way?

Dear Sir

our Trust is Registered U/s 12A of IT act.
If payment made to Advocate for Legal consultancy service, whether payment service tax applicable for our trust or not

Dear Expert,

Whether a Co-op Housing Society is classified as "Business Entity as Body Corporate"? (Reverse charge mechanism stipulates 75% of Service Tax is to be paid by Service Receiver if he is registered as "Business Entity as Body Corporate")

If Co-op Housing Society can not be classified as "Business Entity as Body Corporate" then Service Tax portion of Service Receiver in NOT payable.

Suppose an individual 'X' having age below 60 years paid medical insurance of Rs. 26,000/- as per details given below:-

1st Receipt
Medical Ins. premium for own Rs 12000 and Medical Ins. Premium for his mother (above 80 years) Rs. 5000

2nd Receipt - For medical insurance premium for his spouse of Rs. 9000/- (having age below 60 years). Kindly advise about how much amount of deduction u/s 80D of I T Act, 1961 can be claimed for the Assessment Year 2013-14

RESPECTED PROFESSIONAL EXPERTS,
“XYZ” COMPANY IN SAY SINGAPORE HAS EXPORT GOODS TO ANOTHER COUNTRY SAY CHINA. THE CHINA IMPORT GOODS IN THE CHINA PORT. BUT THE PAYMENT WAS RECIVED BY “PQR” COMPANY IN INDIA FOR GOODS CONCERN IS IT “PQR” COMPANY IN INDIA IS LIABLE TO PAY DUTY UNDER CUSTOMS ACT? (OR) IT WAS LIABLE TO PAY TAX IN ANY OTHER LAWS?
THANKING YOU,

Dear Sir ,
What is the procedure for what audit?

Dear Experts,

Please confirm whether in case of Partnership Firm covered under Tax Audit under 44AB of I.T.Act, the Preparation of Financial Statements i.e. Balance Sheet & Profit & Loss Account can be in T Format or it is mandatory to prepare only in Vertical Format likewise in case of Pvt Ltd Co. as per Companies Act in Revised Schedule VI.

My friend purchased a property in Greater Noida under assured income scheme in joint name with her Husband. Loan was however in her name alone.

Under the scheme she had to pay approx 20 Lakhs and would get Rs.14000 per month. She has now come under 30% tax bracket due to the assured income but her Husband's 26AS does not reflect any property purchased so no extra tax on him.

Please advise if income can be divided amongst the two...to avoid more tax burden on one of them.

Thanks and best regards....B

Dear Experts,

Kindly Guide.

1. I Have insured my machinery , which raises service tax portion on bill, can i claim CENVAT on the same ?
machinery is used fr manufacturing purpose.
IF yes can u please mention sec and if poosible link too


Kindly Help


Thanks and regards
Aashish.R