a private limited company hiring a motor vehicle to carry company staff and company also provide diesel.
Service provider is falls under exemption of Rs-10 Lakh and he raised bill on the basis of per kilo meter service charges.

In this situation how to calculate service tax under reverse charge mechanism as a service receiver(private limited co.)

please suggest.

One of our PSU clients having their accounts/audit in arrears for past 5 years has not filled income tax return as Balance sheet of the same was not finalized.

Now they have received Income Tax Notice for non-filling of return.

Returns can't be filed even now as Balance sheets are still not finalized.

Please guide how best can we reply to the notice.

How do I compute income from House Property, I have received a rent of Rs.1,00,000 in the last financial year.

Dear Sir,

I've a doubt regarding the TDS on salary (sec-192).

The doubt is when TDS should deduct whether at the time crediting the employee( i.e; at the time of passing the J.V entry) or at the time of making payment(i.e; at the time of making bank payment)?

As per Income Tax act Sec-192

192.  Any person responsible for paying any income chargeable under the head "Salaries" shall, at the time of payment, deduct income-tax 53[***] on the amount payable at the average rate of income-tax54[***] computed on the basis of the 55[rates in force] for the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year.

plse rply me sir......

What are the tax and tds implications if an NRI comes to india and sells property situated in India to Ordinary Resident of India?

please tell its implications u/s 195B

My company stopped operations and I received Notice Pay rs.45,322.00. is it taxable. If not under taxable then which IT section to claim deduction

Co-op Banks provides service to the Maharashtra State Electricity Distribution Company Limited in the form of accepting electricity bills from consumers on the basic of commission and bank demanded service tax on said commission so, whether service tax is applicable on such transaction or not. if applicable then please suggest who will responsible for payment of service tax liability.

please suggest.

sale consideration received on sale of land deposited into a bank account out of which part of the amount withdrawn by self cheque & used for personal expenses and now he is willing to invest the whole of the sales consideration including the part amount already withdrawn by him through self cheque, into capital gain account scheme to save the whole of the capital gain. whether it is permissible?? whether the amount already withdrawn by him through self cheque and utilised for the purpose will make any difference for the purpose of exemption??

ABC Italy and ABC India are related parties. ABC Italy is supplying axles to ABC India and ABC India in turn makes high sea sale of these axles to TAFE India, an unrelated party. Subsequently at end of the year, ABC India is paying price increase as part of transfer price adjustment to ABC Italy for the supplies made by them during the accounting year. Comment on impact of the same on the customs duty liability on the import transaction involved in above.

Please provide the answer with complete provisions.

I have queries related to Audit under section 44 AB and it goes like this:

The assessee is a proprietorship concern engaged in software development and has earned revenue of Rs 34 lacs during F.Y. 2012-13. My Questions are:

1. Whether the activity of software development is a business or profession?

2. Should we also read section 44 AA along with Section 44 AB to determine whether it is business or profession? Section 194 J also talks about specified profession and it includes information technology . But section 44 AB is silent on this.

3.And if it is a profession it is liable to audit for A.Y. 2013-14 As it crosses Rs 25 lac