As per notification no. 25/2012 i.e Mega Exemption notification - Point no. 34 (C) i.e "Services received from a provider of service located in a non- taxable territory by
a person located in a non-taxable territory;" is exempted.

But again the Notification no. 30/2012 (point no.10) i.e Reverse Charge direct the Service receiver to pay 100% Service tax in respect of any taxable services provided or agreed to be provided by any person who is located in a non-taxable territory and received by any person located in the taxable territory


Why this Contradiction ? Please reconcile between this two


Also, Section 66A of the Act (import of Services) is eliminated after introduction of above two notification ?

Regards
CS Asif

in our factory we are planing to replace roof at a cost of Rs 2 Crs. pl. clarify can we capitalise it or it has to charge off in P&L

We have received Share Application Money Rs. 20000 in 2009. Till now we have done nothing.
Now we want to do solution thereof.
All filing with ROC is done till today.
In B/s Share Appln MOney is shown

An Indian Private Limited Company had issued Preference Shares to NRI at Rs 100 4 years before. Now at the time of redemption the Investor opts for conversion into Equity Capital. Please advice on the pricing of the conversion

i am a businessman and doing business of property sale purchase, in case i have given any sum towards advance to any person and in future above deal did not materialize and advance paid to vendor forfeited by him. my question is that above forfeited amount claim as business expenditure.

Hi Seniors,

Can a Company's Retained Earnings be withdrawn by the promotors when 2 or more new partners are joining the Company?

What will be the treatment and what all entries we need to pass? Please guide us in this regard.

thanks,
sainath

Currently i am staying in Building which 35 years old and not so safe for residence. But i am repaying housing loan on this house. Now, i am planning take another property on rent in the same city and want to shift there.

Should i claim HRA and Interest on Housing Loan both deduction?

I dont want to let out the property as there risk of life involved. So, what are the options avaiable to me to calim tax benefit for Interest and Housing Loan repayement ?

I think NOTIONAL RENT can not be arrived !!!

PLEASE ADVISE...

Hello CAclubindia, Is is right to deffer the expenditure & allocate it throughout the year in equal proportion. for eg: donation made of rs.80000 in the month of august 2012 so here the acctng entry passed was like this 1) Donation A/c --------dr 80000 to Cash/bank A/c 80000 2) P/L A/c ----------------dr 8000 prepaid Exp a/c ----dr 72000 to Donation A/c 80000 ( Donation exp of Rs.8000 booked for the month of aug 2012 & remaining deffered for remaining months) Is this the right way of accounting. best regards navin

Read more at: https://www.caclubindia.com/forum/accounting-of-expenses-251087.asp

IF CAPITAL GOODS ARE DESTROYED BY FIRE IN 1ST YEAR THEN WHAT WILL BE THE TREATMENT OF CENVAT CREDIT...???

can assessee partialy invest the ltcg in purchase of new house and partially in construction of floor above that new house..would he will be able to get exemption for both or for else?