Dear All,

URGENT!!! Please explain all questions in one statement possibly. Tell me practical aspect.

I have a query on Transfer Pricing-

If transfer pricing is to be applied for Pvt. Ltd. Software company-

What sort of possibilities are being taken into consideration?

Is a separate CA being appointed in this regard?

If turnover goes beyond 5 crores then is it applicable as oer I-T act, 1961?

As a matter of billability clause of Software projects, if we are keeping all agreements intact, then is it the only requirement or is it mandatory for Softex for STPI and as per I-T act to file the details?

How do we apply practically the one aspect out of seven in any company?

Regards,

Amit Deokule

In Warehousing in customs there are three types of assesses and they have different Warehousing periods as given below

100% EOU Capital goods 5yrs
100% EOU Finished goods 3yrs
Other Importers 1 year

In Interest provisions U/s 61(2) it is written that for 100 % EOU calculation rate of interest on delayed payment starts after 5years/ 3yrs till the date of actual payment of duty.

It is also given that for Other Importers Interest is chargeable after the expiry of 90 days. Hence MY QUESTION: Is the Interest payable in first 90 days? or after the Expiry of 1 year and then after 90 days thereof Interest will be payable.

Dear Sir,

My query is that National Calamity Contingency Duty (N.C.C.D.) can be paid / adjust through Cenvat Credit or paid in cash only through PLA.

Please reply

Regards,

One of my client has had a long term capital gain of Rs 2 lacs during previous year 2008-09.
However, the client has till date made advance payments of Rs 3 lacs towards purchase of his new house.
In such a scenario can the advance payment be considered as investment of the Long term capital gains or does he need to invest Rs 2lacs in the capital gains account scheme to avoid tax.

sir,
plz tell me how can i prepration for exam june-09

Please tell that if an assesse is into a business of constructing house and then selling it, then for the purpose of valuation of WIP of house, would AS-7 be applied or AS-2? If you say AS-7 will be applied, then remember that it requires an agreement on the basis of which you will calculate % of completion of work, which is not available, bcoz first the assessee makes the house then sell it. If you say that AS-2 will be applied then remember that AS-2 specifically excludes valuation of contruction of buildings/houses.

ASSESSEE HAVE RECEIVED 143(3) ASSEMENT ORDER IN WHICH IT IS STATED THAT 143(1)REFUND IS ISSUED TO U BUT ACTUALLY IT IS NOT ISSUED CAN U PLZ HELP HOW TO FIND OUT WITH THE DEPARTEMENT OR DIRECTLY WITH THE INCOME TAX INFORMATION
S.M. AGRAWAL

I HAVE A HUF FILE
WHETHER I CAN APPLY FOR SHARES IN PVT LTD COMPANY THROUGH MY HUF FILE

CAN SHAERS BE ALLOTED TO HUF

sumit

Whwther i can pay Rs. 22000.00 in cash every month to Director as remuneration and whether i have to deduct Professional tax on it.

In Directors file it will go under Other Income or In salary head

SUMIT

A builder has entered into a Joint venture for constructing a commercial complex for about 50000 sq feet and share it with the land owner on 50:50 of built up area. Both are going to retain the same.

a) Is service tax is to be paid by the builder or the land owner
b) If it is by the builder, on the value of builtup area to be given to the land owner or on the entire 50000 sq feet
c) There is no money given by the land owner to the builder or sale is involved. How the value to be arrived
d) When the liability arises. On the provision of service or on registration of land (UDS)
e) Is the area retained by the builder it exempted being service rendered to self