Dear Sir,
I am Working in a Company in which we have many of trucks on Fixed monthly payment of Rs. 40000 if truck remain stand over the month than also rent is fixed Rs. 40000, so we have deduct on TDS on this payment or not.

Respected Sir,
One of my client received notice regarding interest on late payment of TDS the amount said to be payable, my query is while filing the challan no 281, shall i tick on option (400)Tax on regular assessment and i fill complete payable amount in interest coloumn, kindly guide me accordingly.

Thanking You.

Dear Friends,

We are manufacture of Excisable goods. Excise duty charged at the time of removal of goods from factory but some time some goods are return back by the buyer, in such case excise duty already paid by us will not reverse back as dealer did not raised excisable invoice. Doing this we suffer excise losses.

I just want to know from my senior friends that are there any provision available in Excise so we can take credit (on which we already pay duty).

It will be more helpful for me if you provide Section wise details.

Waiting for your valuable suggestion

Thanking You

Samsad Siddiqui

Dear sir,

any one can help me for my query, what is the payment due date of Works contract tax under TNVAT act 2006

There is an increase in surcharge from 5% to 10% for this FY.

Do we have to restate existing balances of DTL in books with new tax rates and consider entire impact of increase in liablity in current period itself?

Eg: There is DTL balance of Rs 10 cr as on Mar'13 @ old tax rate 32.45%. For current quarter even though there is no new DTL created. P&L has to absorb effect of revised tax rate @ 33.99% in current period and hence there is huge impact in the P&L.

Kindly provide inputs on tax applicability for below situation:

Case -
Partnership firm
3 partners - 2 individual & 1 huf ( all 1 family members).
Has business income & house property income from 3 let out property (all commercial property).

Huf wants to retire & in settlement receives 1 let out property having book value 90 lakh (market value 1.00 crore) but with O/S bank loan of 35 lakh and another 3rd party pvt loan of 15 lakh. Also his capital a/c has credit balance of 25 lakh.

kindly assist if tax on such retirement is applicable under capital gain or not. and suggest ways for tax planning or lowering tax liability. Also if the route of family settlement is adopted ( as heard in sum case laws) is there a no tax liability for above case in case of family settlement.

Regards
CA Nilesh Patel

Dear sir.
I want know about Digital signature mandatory for whom?

What is vat assessment

Whether Company can allot shares to individual in lieu of Agriculture land which the individual(owner) give it to company.What is the procedure and requirement.Whether it amounts to transfer of agriculture land and whether capital gain and stamp duty is applicable in this case

In case we incorporate new private limited company and one of the subcriber bring his land in the company as capital.Whether it amounts to transfer/sale of land to the company and attracts capital gain tax and whether stamp duty is applicable for the transfer of land to the company