Explain long term capital gains and how is it different from short term capital gains?

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The company i approached asked me that they are registered Manufacturer to market fire extinguishers. They have both VAT & CST registration. When they supply material out of state i.e. under "C" form, to a Dealer who is also registered with CST and who can issue "C" form but for product paint. Will the "C" form issued by the Dealer be acceptable to us. What law governs, since the dealer is not registered to trade in Fire Extinguishers? In the first instance will he be able to issue "C" form at all i.e. Will the government allow him to issue "C" Form, if so under what norms? In the case that my company is the Dealer and registered for trading in Paint and we are taking Fire Extinguisher Dealership will I get set-off in "C" form for purchase and Sale. Kindly let me know on russel.raphael@gmail.com

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basic knowledge of accounting ?

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can we take coloing stock in T.P.and is it dr.balance or cr.balance

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Taxable and Exempted goods sale to pondicherry via bill no.1 and bill no.2 I received the C form for taxable bill no.1. But, C Form not received for Exempted bill no.2. It is required or not?

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Can a Company can issue C Forms in Advance to the seller (Other than govt.dept.)

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We have recd. work contract at Karnataka, now i want to know what is the WCT tax structure in Karnataka under regular Method and composition method, Is there Interstate purchase & Branch stock transfer allowed under composition scheme? How to calculate VAT liability under Regular Method and composition method. Which scheme is beneficial for us?

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What are TDS rates for the year 2007-08

2 Answers   Syntel,

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I we take computer and laptop on rent basis the vendor charge 5% vat bill then we should deduct TDS for them @2% or 1%

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IF WE PURCHASE MATERIAL FROM OUTSIDE STATE FOR RS 100000 (INCLUDING CST) AGAINST C FORM. AND AFTER ONE MONTH WE ISSUED DEBIT NOTE FOR RS. 30,000 /- TO A SELLER. NOW WHAT AMOUNT WE FILL IN THE C FORM AT THE TIME OF ISSUE, 1,00,000 /- OR 70,000 /-

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for capitalized goods also buyer has to issue the C Form

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verification of licence comes under professional or contract in TDS

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