I know that Vat will be chargeable even if Srevice Tax is applicable in some transactions(Ex. in case of works contract). My doubt is that the act says that if the assessee takes INPUT CREDIT of VAT, he has to pay VAT separately. I dont understand this concept. Does this mean that if VAT is not charged separately, Service Tax is chargeable for cost of materials provided along with the cost for service ?

A company wants to take employer -employee insurance.so firstly i want to know that premimum which was paid by the company is libele to FBT, and the premium paid by company for the employee is taxable in the hands of employee or not?

and if this policy assign to employee after a year on surrender value then what tax libility will comes in?

And amount received on meturity of policy by employee is taxable or not?

Megha Gupta

Hi,

I am confused whether to rejoin CA or dicontinue the same, since May 2008 is my Last attempt which iam not giving.

My plan was to rejoin CA, but the new sylabus has made to give a second though about the same.

Request you to help in this regard or suggest me the better way i can proceed.

suppose tds has been deposited inexcess to the amount pertaining to a particular quarter can the excess payment of tds be claimed as benifit in the coming quarters

The Woods are lovely dark and deep
But I have promisses to keep
And Miles to go befoe I sleep
And Miles to go befoe I sleep

An Indian Airlines employee was granted aloan by the company to meet the expenditure of training as a trainee pilot.The company now recovers a monthly installment from the employee.
The recovered amount is included in his salary though in actuality it is deducted by the company from his net pay.He is currently paying tax on this sum as well
Is this sum exempt from tax under the income tax act?

In the market hundreds of financial accounting softwares are available. Most of them are not technically developed.

In india any govt. rules or regulation to control / certify these softwares as per std norms and rules set by the govt.


SK

Suppose an enterprenuer has employed some labourers on contract basis who will be relived after the contract is over.
they are paid wages @ Rs. 100 per day with Rs. 5 per day as commission.
Under which head Tds will be deducted
- Section 194C
- Section 194H
or both by dividing the expenditure into their respective natures.

Dear Sir,
I have cleared PE-II exams in November 2007 and i got registered for articles on February 1st 2008 on which new scheme applies to me. So,when can I write my Final exams, is it May 2010 or Nov 2010. Please do the needful at the earliest

Some financial accounting softwares using "Expenses Booking" vouchers to enter & book the expenses under the purchase account such as bill for placing advertisement( indirect exp), printing expenses bills ( indirect exp) etc.

In tally software, can we make a new voucher other than the purchase voucher to enter and book these type of expenses under purchase account.

The above type of bills will not come under purchase.These are indirect expenses.
How we enter & book these expenses in tally software.


SK