Dear All,

Please solve my following query:

My company is Indian public ltd company (unlisted). One shareholder (8% equity shareholding) is foreign company of Germany. Please tell me how we can pay dividend to that German Company (state the procderue which an Indian company has to follow) and if existing Indian shareholder cum director wants to buy his all shares so what will be the procedure?

Its urgent. Thanks in advance.

Meenakshi.

Dear All,

We are a BPO providing the export services. I have taken the cenvat credit of service tax paid on loan processing fees charges for loan taken to acquire the property. The same we have taken in refund claim filed with the service tax dept.

The dept is disputing the same as saying that it is not the input services according to Rule 5 . Please provide any case law in support for this argument.

Regards,
Manish

IS INTRADAY SELLING OF SHARES SPECULATION INCOME?

I would like to know is there any organisation or institution provide on line work to Chartered Accountants?

Hi I want to know that my client had made a payment of Rs 7,52,000/- to Tata Communications for Internet services in this case how much TDS will be deducted and is it necessary to dedeuct TDS in this case. If the TDS is not deducted then is it the breach of rule.

CA's advice is highly recommended at your earliest.(urgent)

An employer is giving Salary Advance to his employees as per company policy and other things such as TDS etc. is also adjust in that same account. In this case is this account should be treated as Loan to Employees and interest should be charged as perquisite in the hands of employees.

Can i(individual) pay my self asst tax via cheque/challan? or when it is compulsory to pay tax online?

Sir,
Kindly enlighten us on following matter:

A) During the financial year 2006-07 Income tax department made a survey of business premises of one of my client. In the survey My client has surrendered Income of Rs. 2756278.61/- (including the normal net profit of Rs. 256278.61) and claimed Deduction of Rs. 100000/- u/s 80C. Now my client’ case is selected for scrutiny u/s 143(3)

Sir, As per guidelines issued by CBDT regarding selection of cases for scrutiny u/s 143(3) for the financial year 2006-07 apart from other points clearly bears a point no.4 regarding selection in survey cases which is as follows:

1) Assessment in survey cases for the financial year in which survey was carried out. Exclude if following condition is fulfilled.
a) Declared income, excluding any disclosure made during the survey, is not less than the declared income of the preceding assessment year.

Now In view of above criteria for selection of scrutiny u/s 143(3) in survey case we would like to enlighten whether our case fall within the preview of u/s 143(3) if following conditions are complied :-

1) That there are no impounded books or documents during the year.
2) That there is no retraction of disclosure made during the year. We have filed our income tax return to the amount of Rs. 25 Lacs of disclosure made during the survey
3) That we have filed our Income Tax Return as follows:

Financial Year 2005-06 2006-07
Asstt. year 2006-07 2007-08
Normal Business Income
256278.61 222010.00
Surrender Income 2500000.00 ------
Total Income 2756278.61 222010.00
Less: Deduction u/s 80C 100000.00 -------
Taxable Income 2656280.00 222010.00

Hence the declared income of Rs. 2.56 Lacs excluding disclosure made during the survey, is more than the declared income of the preceding assessment year Rs. 222010/-.

B) Sir, Kindly also Provide us the Definition of ‘Declared Income’

Thanking You.
rajni
Hisar (Haryana)

A Flat is purchased in the Partnership firm,should the depreciation be provided as per income tax act,if so at which rate and if not why??
The flat is not used for business purpose.

My family financial position is weak.
So I need to do job. Therefore I cannot continue with my articleship. Can I do so?