Sir,

Please slove this query.


Sumit Electronic is considering a proposal to replace one of its machine. In this regard, the following information is available.

The existing machine was brought 3 years ago for Rs. 10 yrs. Lacs. It was depreciated at 25 percent p.a. on reducing balance basis. It has remaining useful life of 5 years, but its annual maintenance cost is expected to increase by Rs. 50000.00 from the sixth year of its installation. Its present realisable value is 6 lac. The company has several machines, having 25 percent depreciation. The new machine cost Rs. 15 lac and is subject to the same rate of depreciation. On the sale after 5 yrs, it is expected to net Rs. 6 lacs. With the new machine, the annual operating cost (excluding deprecation) are expected to decrease by Rs. 1 Lac. In addition, the new machine would increase productivity on account of which net revenues would increase by 1 – 5 lac. annually.

The tax rate applicable to the firm is 35% and the cost of capital 10%. Is the proposal financially viable? Advise on the basis of NPV of the proposal.

Hi, What is the treatment under Income Tax Act, 1961 for Income on daily trading in Stock Market? Is it to be considered as Income from speculative business? Also, what would be the treatment of STT paid on stock market transactions?

Thanks in advance

We have received two type of bill received from our contractor one for manpower valueation detail and other for day to day expenses i.e travelling,fooding etc. occurred by the employees .In works order expenses rate is defined per man time for Fooding and KM Rate for traveling. I would like to know on which bill amount ESI calculation is applicable.Contractor has not ESI regn. it is at our hand to deduct the ESI and deposited.

Experts are requested to post latest TDS rates of Automobile indusry plz send me for enhance my knowledge

Delhi High Court adjudged service tax on commercial property as wrong.
We have not received any notification from Service Tax Dep for its exemption or waiver.

If, the tenant has paid the rent amount and refused for payment of service tax , what shall be the rent collector's liability.

We have to transfer some of capital goods from our one plant to another plant.We are unable to trace the invoices of those capital goods as came before 10 years,Hence what procedure we follow to create invoice in order to reverse the MODVAT already taken.

Please guide urgently

Hello,

I have a query related to TDS.

A partnership Firm deducted TDs on Contract(RS 2000) and Interest on unsecured loan(RS 48000) on 31st march2009. TDs was deposited in May month by ETDS. During Filling Challan 281 all payment of rs 50000/- credited to Sec 194C(Contract). no payment is cr to 194A (interest). now is it possible to correct it.?.

Thanks in advance.

One of our transporterr party had submitted a certificate issued by AO for lower deduction of tax at source in the FY 2008-09.

My query is this certificate still valid in FY 2009-10?Or I will deduct tax at source U/s 194C as per normal existing provision ie 2.266%?
I personally think this such certificate is valid for one Fy only wef the date on which AO issues the same.
Please let me know its urgent otherwise I wl be a TDS defaulter.

Hi
I stay with my parents in Mumbai in a house essentially owned by them but my name also features in that of the owners in addition to my parents'. Is there anyway I can claim HRA deductions then? We have another house which is in the name of my Mother. If i move there, then I can, right?

HI experts,

Is there any recent notification to reduce CST to 1% from 2%. Pls update me on this. (Urgent)

Thanks in advance.

Praveeri