Nikhil Kaushik's Expert Profile

Queries Replied : 23957

In case you are looking for tax compliance or advisory services, you can reach me at canikhilkaushik @ gmail.com

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Varun Sharma says : Hi, I have a one query
If we purchase a material from outside within India & that product will be Non Taxable then what certificate we have to collect from the purchaser to show our department

mohit singh says : Ragarding the commercial tax
Hello, I have one querry.Actually,I am very much confused about the commercial tax.I have a residential house and there is also a basement in it which is let out for the purpose of gym and i am getting a monthly rent of Rs8000.So,i want to know that whether there is any commercial tax leviable on it as i have never paid any such tax.. Please clear my query as soon as possible. I will be very thankful to you.

Surajit Dutta says : Intra depatmental transfer
You have answered there will be no issue if one department charges profit by providing services to other department in the same company . I am not asking about transfer pricing. I am asking is it possible that if HR Department of a company gives salary of Rs 10000 to an employee for his services to Head office and charge Rs 11, 000/- to Head office account and book profit of Rs 1000/- in HR department . Later on at the time of consolidation Head office reverse the Income booked earlier by passing a new entry , is it allowed to pass such entry in its book where entry of Income should come only from its actual business , not by debiting salary with a margin. If such entry of Income is passed is it objectionable by Auditors or by Tax authorities. Is it allowed to show such income which will be reversed at the time of consolidation. I am talking about accounting entries only. If it is allowed then Service tax on the gross amount & TDS will be charged or not ? Some commented there will be TDS & Service Tax.

SHREYANSH KUMAR JAIN says : service tax exemption
A service provider Mr. X Provide services in 1st year for Rs. 9.5 lack and according to rule make Registration in 1st year end, & In 2nd year Services provided for Rs. 11.50 lack, in this year get exemption (For SSI) of Rs. 10 lack and tax on balance services (Service Amount Rs. 1.5 lack) paid and in 3rd year services provided for 5.5 lack, tax paid on hole amount. & Now my Question is In 4th year, Can Assessee claim the exemption of Rs. 10 lack (SSI) again in 4th year because Aggregate service of preceding F.Y. is less than 10 Lakh ?

girigattupalli says : thanks
thank you nikhil.the two quetions about itr form are from me.thanks for your kind response. GIRI TAX CONSULTANT NELLORE'ANDHRAPRADESH