Dear All
Please can any one help me with running a private limited company. We are a managemnt consultant company. What things need to be done? Like Service Tax, TAN, DIN, PAN, TDS, and the like. please some one help me with the entire list.
thanks
indira (consultant) (222 Points)
24 May 2008Dear All
Please can any one help me with running a private limited company. We are a managemnt consultant company. What things need to be done? Like Service Tax, TAN, DIN, PAN, TDS, and the like. please some one help me with the entire list.
thanks
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 25 May 2008
Too general a question. Will need elaborate consultancy. Reply will also have to be elaborate and can not be concise.
indira
(consultant)
(222 Points)
Replied 26 May 2008
We are a consultancy company. We render services such as technical support to MFIs and therefore collect service tax. Can I claim refund for any service tax paid by us to the services rendered by outsiders like software companies to us though this happens rarely.
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 26 May 2008
You can avail Service tax credit in respect of your input services (service availed by you)in relation to the Service tax payable on services rendered by you.
indira
(consultant)
(222 Points)
Replied 26 May 2008
Thanks sir. We earn money from assignemnts abroad as well as india. Is there a differential treatment.
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 26 May 2008
Treatment with regard to what?
indira
(consultant)
(222 Points)
Replied 27 May 2008
How do i know the depreciation rates specified for certain assets. Especially with regard to the Income Tax act.
indira
(consultant)
(222 Points)
Replied 27 May 2008
We are a private limited company and we have less than 20 employees as of now. we are planning to recruit more number of employees by the end of june. Can we apply for PF registration now itself.
indira
(consultant)
(222 Points)
Replied 27 May 2008
Is there a differential treatment from moneies earned from abroad assignments and domestic assignments in terms of income tax and service tax.
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 27 May 2008
1.Depreciation rates detailed in Appendix I to rule 5 of Income tax Rules 1961.
2. You can.
3. What are the nature of assignments?
indira
(consultant)
(222 Points)
Replied 27 May 2008
The nature of assignments are
Providing technical assistance to MFI's. i.e.
Helping them out in utilising the grants or loans (mostly from world bank and other foreign institutions for foreign assignments) as these companies deal with giving loans on a small scale to either groups(grameen model) or individual term loans--- we give them the financial projections for disbursements etc and also the scale of operations in terms of no. of borrowers per term or year etc
indira
(consultant)
(222 Points)
Replied 27 May 2008
Thanks sir,
How do I calculate depreciation for the assets purchased in the middle of the year.
indira
(consultant)
(222 Points)
Replied 27 May 2008
What is the depreciation rate for mobile phones sir? I dont see it in the guidelines provided by IT Act
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 27 May 2008
You can treat them as computer based and claim 60% depreciation.
Depreciation will be @ full value if it is purchased in the first half of the year. If it is in the next half 50% of the normal rate.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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