What is the difference between Service Tax & Service Charges

Hello Sir,
can you sent me the relevant sec s relating tax libility of a non resident at the time of tranferign the shares of a Indian company to a foriegn company

Thankyou

Hello Sir,
What is the Rate of capital gain tax and how we calculate tax liability st time of tranfering the share by a non resident to a foriegn company which is going to take over the existing company. existing company is a private company the nri has shares in the company

CAN U PLS SUGGEST ME AS TO WHICH ARE THE BEST BOOKS AND AUTHORS FOR FINAL CA IN ALL SUBJECTS ( PREFERABLY IN Q N ANS FORM) OTHER THAN THE STUDY MATERIAL

I AM GOING TO APPEAR PCC IN NOV 2008.I AM ALSO IN S.Y.B.COM REGULAR AND UNDERGOING ARTICLESHIP.I HAVE DECIDED NOT TO GO FOR COACHING AS I THINK SO THAT I CAN DO IT.I FIRMLY BELIEVE IN SELF STUDY. BUT I CAN NOT UNDERSTAND FROM WHERE TO START AND FROM WHAT.PLZ HELP ME...

Ours is a indian company registered under companies act, has a joint venture with Saudi Arabian Company with a 20% Share capital of Saudi Arabian company. The indian company receives net dividend regularly from the saudi arabian company for the share of 20%. The net dividend crediting to our bank account after deduction of TDS and tax on total profits of saudi.arabian company. Example




Saudi Arabian Company earned a profit before taxes 1000000




Tax at saudi arabia 300000




Profit after Tax 700000




Saudi Arabian Company declared dividend 500000




Dividend of Indian Company @ 20% 100000




Less Tax or TDS @ 20% paid by saudi arabian co. 60000




Net dividend distributed to indian company by saudi co. 40000




Now how to account the entries in indian company and what is the tax treatment for indian company. The indian compay incurring operational losses, but after considering the dividend received from the saudi arabian company, the indian company gaining some net profits. Suppose in a financial year after receiving the dividend of Rs 100000/- the indian company gained taxable income of Rs 20000/-.




Kindly advise how to account the entries in books and what is the tax treatment and how do claim the deduction of tax Rs 60000/- by the saudi arabian company ?




Regards




S Anjaneyulu

I want to form a seperate company. Public limited closely held. Can I have exprt suggestions, advices, benefits and consequences related to the structure of the company and laws binding to the same.

does icai help us in choosing firms as said in the following url of icai

http://www.icai.org/icairoot/publications/complimentary/cajournal_aug02/p198-202.pdf

Can be service Tax Charged at Lower Rate?

A firm is authorised service centre of LG AC. It provide repair and maintenance to all those customer which have purchased AC and falls under guarantee period, on behalf of the company. It receive certain fixed monthly ckarges from the company for this. It also do its on repair and maintenance work of all AC which is not under guarantee period or otherwise. It got registered with service tax department last year and paid service tax though its toal receipt was much less than Rs 4 lac. This year the firm did not pay any service tax nor it collected from the LG Company nor from custormer in the impression that the limit has been increased to Rs 8 lac and it is entitled for the basic exemption limit. Now when it submitted a letter of surrender of its registration with service tax department, they informed that this firm is not entitled for basic exemption due to some circular i.e. the Authorised Service Centre are not entitled for basic exemption. Please clarify the correct legal position with circular if any.

R K Dhandia