I had made a payment of $ 1,500 towards consultancy to a party outside India in this month. I will have to gross it up for the purpose of TDS u/s 195 of the Income Tax Act @ 30.9% which comes to approx. $ 2,152 and i also have to pay service tax to the government @ 10.3% on the same as import of service. Now my query is whether $ 2,152 would be the figure inclusive or exclusive of Service Tax and whether TDS is liable to be deducted on the service tax payment and if yes then how will the computation be? Please reply.

Pl Tell me what is activity of a Internal Auditor as per his designation?
For Cheif Internal Auditor
For Sr. Internal Auditor
For Jr. Internal Auditor
For Audit Asst.
For Any other post in Internal Audit Dept.?

One of Our Vendor previously work for us as Jobworker till month of Feb.09 and after from Mar. 09 Agreement Changed between us, and he charged full bill i.e. RM+PM+Processing Charges, Hence he must charged VAT of amount.
But he charged SErvice TAx as per previous practise and we booked his bill in accounts in March 09 and we final our Accounts Book.
Then what is process of Revision in Such a case for Charging VAT Instead of Service TAx?????

Please tell me the reasons for CA better in Profession than the CA in Industry.

Please Give me Reply


Thank You Very Much for Reply in Advance.

Everytime I try to put comments in any of the cells in Excel a name appears. I do not want the name to appear by default. How to do this?



Thanks.

There are two pvt companies under a same management.
One of them is a loss making co. lets say A Co. and one is in profit say B co.
now i want to absorb the losses of the A co. which of the following ways is the best way to do so from income tax point of view i.e no litigation is invited?

1) Amalgamte The A co with B co.
2) Make A co. a subsidary of B co by aquiring shares of A co.
3) or if we expect profit in A co in some years down the line so let it work as it is but it will be cover by section 115JB (MAT)?
or if you feel any other way to absorb the losses of A co. plz tell me?

Thanks & Regards.

As provisions are made on estimated basis they are not accurate. I want to know whether the year end provision is to be reversed in the next year or the bills are to booked against them.

Also as TDS is also applicable on provisions then how to make their payment.

my client is a corporate assessee in the course of assessment under section 143 for the a/y 2006-07 the a.o pointed out that the assessee has not deducted tds on paymment made to contract for trasportation charges,the fact put in front of the a.o was that this service was being provided by the contractor out of agreement and as such he was raising a debit note on the company for the transportation charges, he has also confirmed he was deducting tax and depositing with the authorites on the same amount for which he was raising the debit note,even after lot of pleading the a.o diallowed the amount,the amount of demand was deposited with the tax authorities, simultaneously the a.o has imposed penalty under section 271(1)(C).
I am preparing to file a appeal with cit(a) my question is

can this be sustainable in the office of cit(a) as i have got the confirmation copy of the contractor in which he has mentioned that he has deposited tax on the same amount for which he is raising the debit note,this copy was also submitted to the a.o during assessment proceeding .

i would be greatful to all of you,kindly help me out


ca fareed ahmad khan

Dear All,

I need to know the conditions to be fulfilled by a company so as to be liable for undertaking Transfer Pricing Audit.

If I got the Bill for exps Amounted rs 22,000 which contains exps of F.Y. 2008-09 15000 and 5000 exps. for F.Y.2009-10....Should I make tds on paying this consolidated Bill...this bill dated of current financial year...