PurVal TaxCategory TaxRt-- CalOn--- Tax---- total
100---- ITC---------- 12.50-- 100.00-- 12.50-- 112.50
100---- Excise------- 16.00-- 100.00-- 16.00-- 116.00
100---- Edu. Cess-- 03.00-- 016.00-- 00.48-- 116.48
100---- transport--- 02.50-- 116.48-- 02.91-- 119.39
100---- Value Add-- 20.00-- 119.39-- 23.90-- 143.27
100---- VAT---------- 12.50-- 143.27-- 17.90-- 161.18

vat to Pay= VAT Tax - ITC Tax
= 17.91-12.5
= 5.41

please tell me, vat calculation is correct or not.

also tell me,
which type of taxes included in VAT?
or
VAT is applied after Excise, transport, value added etc.

Please tell me whether the TDS is required to be deducted under the provisions of income tax from the payments for vehilces reparing charges .Service Charges for reparing exceeds Rs 50,000/- p.a

can any body tell me the entries & procedure for claming cenvat/modvat

thx

Please tell me the Basic Steps in Preparation of Accounting Manual of a construction Company.
Format Of Accounting Manual of Construction Company

Checklist for the Audit of Life Insurance Companies

Dear All,

My query is regarding a partnership firm engaged in MANUFACTURING ACTIVITY having two partners.
The Facts are as under:

Now one of the partner "B" wants to discontinue this partnership. Hence the other partner "A" has agreed to this and wants to continue this business under the same name and wants to admit two new partners and retire partner "B" by paying a lump sum amount for his capital and goodwill.

My query is :

1) From Accounting Point of view:
What shall be the accounting effects of the above? How will the lump sum payment to partner " b" booked in the accounts books and how will the new capital introduced by the new partners shown in the books?

2) From Law point of view:

What happens to the existing :
a) Excise Registration?
b) Vat Registration?
c) Sales Tax Regstration?
d) Pan of the firm?
e) Import Export Licence?

Is new registration required for the above or what have to be done to intimate the respective authorities to intimate the change in constitution of the firm?

Please can anyne help me on above ASAP?

Thanks in advance.....

Alpa Doshi.

i have a client who bought a one open plot 2 yrs ago. After that he constructed a godown on that plot and gave it on rent. now issuse is that whether its a INCOME FROM HOUSE PROPERTY or INCOME FROM BUSI. & PROF.? he has other business also.

Respected all,
Is MBA from symbisys university of pune by distance learnig is good.
Please suggest me .I am planning to do it.
Will it has any oopurtunities in mncs in india or abroad?
Please sirs (ca professionals ) suggest me.
THANX.

I recieved my salary for the period feb-07 to Apr-07 in may -07 as areear now my company is treating as income from salry for the current financial year they deducting tax on that amount, is there any option to get exemption from that tax laibilities, please suggest

Anuj

please , any one tell me the income tax amendments for AY-2009.because i am getting fully confused in this matter
Thax.