Dear Sir,

My name is Manoj Kumar Gupta , residing at Kolkata , working as Sr. Accountant in M/s AKJ Engineers Pvt.Ltd.

I have a doubt in my mind regarding reverse charge mechanism in relation to works contract service :-

We are a Pvt.Ltd. company doing Civil works contract to the tune of Rs.20/- crore plus , We are procuring works contract from the construction companies & Govt. bodies and sub leting the service part of the job to small sub-contractors. They are doing the labour job only on sq.ft/ Sq.m basis . All the required materials, consumable , T & P are being supplied by us only. All these sub contractors are proprietorship concern and small contractors below the ceiling limit of 10/- Lac's.

Now my question is that these small sub contractors are not registered with service tax , under the reverse charge machanism wheather we are liable to pay the service tax on all these sub contractors. and wheather we are entitle to set off the said paid service tax with our output or not.


I will be kind enough if i find the answer of my query . Your early action is highly appreciated by me.


Thanking you

Manoj Kumar Gupta

In Pvt. Ltd. Co. Due to wronge accounting entry we have paid excess TDS on Professional category i.e. 10%. I would like to know that, whether the excess TDS is adjustable in other category like Salary,contractor, Interest and rent etc. or it is refundable ?

If refundable then what is prcedure for claimng?

Thank U

what is the Accounting treatment of goods received free of cost? is there any complication as per any law?

In Pvt. Ltd. Co. Due to wronge accounting entry we have paid excess TDS on Professional category i.e. 10%. I would like to know that, whether the excess TDS is adjustable in other category like Salary,contractor, Interest and rent etc. or it is refundable ?

If refundable then what is prcedure for claimng?

Thank U

Hi,
I haven't yet received the marksheet of Nov 2012 PCC Exam.Usually it will be received within 2 or 3 weeks after declaration of results but now its almost one month over since declaration of results. So can we whether know the status as if it has been send by the ICAI or not or else where should we contact for the details.

Dear All,

kindly help to interpret the following clause:

Except as specifically mentioned elsewhere in this Agreement, the Lease rentals and all other charges payable by the Lessee to the Lessor under / in relation to this Agreement shall be paid free of any restriction or condition and free and clear of and without any withholding, whether on account of tax or otherwise. If the Lessee is obliged to make any counter-claim, set off, deduction or withholding from any such amount, then the amount payable by the Lessee shall be increased to the extent necessary to ensure that, after making the deduction or withholding, the Lessor receives and retains (free from any liability except for tax on overall income) a net sum equal to the Lease Rentals, if no such counter-claim, set off, deduction or withholding had been required or made.

3.3 In the event the Lessee fails to pay the Lease Rentals for a continuous period of 30 days after the due date, this Agreement shall, notwithstanding the provisions of Clause 15 (giving of notice to remedy breach), come to an end at the option of the Lessor and the Lessee shall be required to remove itself, its belongings, employees, etc. from the Leased Premises.

3.4 Except as specifically mentioned elsewhere in this Agreement, the Lessee shall not seek any reimbursement nor seek to recover any monies spent and/or paid by it in relation to the Demised Premises, from the Lessor or from the Demised Premises and to that extent the Lessee hereby waives any and all rights that they have or might have against the Lessor including the rights under section 69 of the Contract Act, 1872 or under any statute or law or under any agreement or document executed between them or any third party.

kindly confirm the TCS deposite procidure.

Example :-

Date 20.02.2013 X Ltd sale scrap Rs 100000/- and charge TCS 1000 (1%) but tcs not deposit due to non available of TAN but X ltd have PAN.so kindly confirm the deposite procidure if N/A of TAN

Regards

Sachin Agarwaal

In part A - P&L under item 51c (No account case - expenses), should depreciation be included or not? I feel depreciation should not be included under expenses but considered under schedule DEP and through that to Schedule BP item 12. Please advise if I am correct.

Hello Experts,

I have filed my return within prescribed time limit,
Later i discovered an error, For which i had filed an Revised Return, which generated Revised ITR,
But which was not processed at CPC Bangalore,and communicated that It was not Processed.
Later some days, I received u/s 143(1), intimating me to pay the some amount.

Now How Should I Revise the return?
Whether with Original Ack.No. OR Revised Ack. No?
Or Not possible to Revise Return, as contacting ITO is another Option ahead.

(Its AY 2011-12 return, so I can file upto 31.03.2013)

Please Help.

i am going 2 apper for may 2013 ipcc examination both group plz help me with my tax preparation ......serv tax and vat , i have done ....facing problem in direct tax.....plz.help plz.........