Dear All,

Regarding computation of deemed Vat Liability under TN Vat for new construction residential project at Chennai, we had made payment to contractor for external and interanal electrical works. The contract includes material cost and labour cost. Our query is as under:-

While computing the vat liabilty we used to calculate deemed sale on the input material + 10% profit margin on the same.

However please clarify whether the material supplied by the electrical contractor will be included in the calcuation of deemed sale. If no then please provide justification for the same.

Regards

CA Vishal Mehta

Sir

What is the specified limit for tax audit for CA

in June 2013 Journal of CA institue at page No 65 it has been clearly written that " ICAI with the help of CBDT/ITd can also put control on this website so that only 45 Audit Report u/s 44AB (i.e no under section 44AD, 44AE) can get uploaded under the log in of one CA.

On the other hand SEction 44AB which is applicable for tax audit says that books are required to be audited for those assessees who are claiming profit lower than the amount apeicfied under section 44AD and 44AE.
Is that mean that audits conducted under section 44 AD and 44Ae are not to be uploaded online at IT website

which person are required for taking service tax registration? what is the proceess and fee required for it?

Greeting to all,
I am an individual, I am running tution class and my groos receipts is Rs. 4Lacs in FY.12-13.
Pls. let me know which ITR Form should I use. and how can i derive my taxable income. I have invsted Rs.1 Lac in PPF also. could I take benefit of 80C.

Thanking you,

A FEMALE AGED 60+ (SENIOR CITIZEN)
RECEIVED PENSION FROM RAILWAY ON BEHALF OF HUSBAND (EXPIRED) OF RS.208492/-P.A
PENSION FROM LIC RS.10824/-PA.

ARE THE ABOVE TAXABLE?. YES/NO PLEASE REPLY WITH SECTIONS TO BE APPLICABLE.

WHICH ITR WILL BE APPLICABLE, AS IT HAS LONG-SHORT TERM CAPITAL GAIN..REGARDS

IN WHICH PERIOD CAN I TAKE ADMISSION IN CA FINAL IF MY ARTICLESHIP STARTS FROM 25/08/2012& MY BOTH GROUP OF CA IPCC CLEARED IN MAY 2012.

I filed return for A/Y. 2012-13 showing house property income and adjusted current year loss with the same.
There was no gross receipts only expenses. Notice says fill gross receipts and file BS but now I have forgot my loss and paid more tax alongwith all interest due. Should I respond to 139(9) or file belated return afresh? Advise with consequences.

i am ipcc student and have given ipcc group 1 in may 2013.i have a doubt in accounts paper,my paper went well but in internal reconstruction question which came for 16 marks except for 2 entries all my entries are correct, i have put the narrations for every entry and solved the question in a very neat way but as in question the figures/amount for every transaction and for balance sheet was given in hundred and lakhs was written in bracket or written seperately for example 200 lakhs so i solved the question taking it 200 or i took figures in hundreds and thousands and forgot to multiply with lakhs or forgot to mention that the figures are in lakhs, i thought if i would have multiplied it with lakhs then it would have been a great confusion for me and a lot of time would also be wasted in puttting zeros but i have taken all amounts correctly.pls answer my query as soon as possible really tensed.

Dear sir
Plz explain me
Sir I am in jaipur and vat registered company.
Sir I want to take purchase out side the state and sale in rajasthan by e1 sales.
And my party is direct consumer and he was not registered in vat and billing direct his name . So here cst calculation and form exchanges hows posibble.

We are a licensed international Air Cargo Forwards cum customs house agent.

We bring import Air cargo for importers in India as air cargo and collect the air freight charges in rupees. In turn these air freight charges are being paid back to our overseas principals ( freight forwarders) in foreign currency through bank At the time of remitting back these freight payments a little portion from this is being deducted by us as our profit element ad the balance is paid to the foreign principals.

Recently a service tax audit team as visited our office for audit. One of the audit officer has expressed his doubt whether the service tax has to be paid for the profit element from the import freight charges.

On verification we find that the trade does not pay service tax for this. According to few Senior trade members the same quarry was raised by the department in different service tax payment heads at some of the states and the appellate authorities had disallowed the same.

We shall be obliged if you could advice on this matter.