I am employee in Proprietorship Firm, I am buying 1 Air Condition for Office. So, My question is which bill we required Tax or Retail? Can i get Vat Credit for that Bill?
07 January 2016
Dear You get the credit on AC if you are purchasing it for the resale purpose. i.e you are a dealer of AC. In your case no credit available.
07 January 2016
Sir One more Question, When I bought Tally 9.0 Software, they Charged Vat & but When I bought TDS Software they Charged Service Tax... Why both different Tax?
07 January 2016
Dear in case of tally this is a good i.e they do not make any customisation or they do not provide service to you. They are just selling the software. The thing you are saying with regard to TDS software willbe of the annual fees charged by them as it is for the service they will provide you in future.
27 February 2016
Sir, One more Question,,Some Firms required Overdraft Facility,, why they have required?, although they have current account... Thanks
27 February 2016
Dear Current account is the balance a firm had in their bank account. But cc or od is a short term loan, it is taken by firm to enhance their liquidity or to overcome the financial crunches. It also help to increase capital inflow in firm.
28 February 2016
Sir, I received notice from Traces regarding Late payment of Interest in TDS. Now i have paid TDS Interest. Now, what i do? I have to file ReviseTDS Return or any other option available there.. Thanks in advance
CAclubindia
