We have one client to whom we are charging 35000 as audit fees.

Now the client want other professional service(valuation of share). Can we do it. If we do it, then how much fees we can charged from such client. Is there any notification of ICAI in this regards.

CA. Sanjay Garg

Dear all,
If anyone not complied with Sec 269 SS of IT Act, whether it will attract any penalty or dis allowance ?

I m under going a manufacturing unit. I come across a doubt. Whether we can avail the VAT input Benefits for lubricants.

Hi all,

My client is a Service provider.
They are purchasing various material used for providing service and vendor charges VAT.

They have VAT registration number and they are selling scrap and paying VAT against the same. Can VAT input paid on purchase of material can be claimed against output VAT paid on scrap sale.

Please advise ASAP. Its urgent

Regards,

CA Ajay Tarate

When Will be the final results be declared

How to calculate WDV on block of asset pertaining to following case ?

Block - III Plant and Machinary

WDV (asset-1 and 2) 1-04-2008 Rs 75000-00
Sales Asset-1 (Opening WDV Rs 65000)for Rs 80000-00 on 1-08-2008

Purchases 1-09-2008 Rs 90000-00

Is there any prifit on sale?
How to treat that profit?

Since mr. pranav mukharjee has abolished FBT on expenses. Post budget what will be income tax liability on reimbursment of petrol bills & driver salary & who is supposed to pay ( employee or Employers ) and what rate of taxes will applicable.

regards & thanks


( vinod K Jain )
Manager - Accounts
Select Citywalk,
New Delhi

Hi,

I joined my current employer on 15th April 2009. I got Form 16 from the current employer. Also, current employer has deducted the applicable income tax for the period 15 April 08 to 31 March 09. I also received Form 16 from previous employer. My previous employer has not deducted on my income.

The Form 16 details are as under:

Current Employer(15 April 08 to 31 March 09):
Total Income: 453980
Total TDS: 47170

Previous Employer(1 April 08 to 15 April 08):
Total Income: 12500

[a] How much tax I need to pay now?
[b] While filing the IT Return form, under which section should I claim the income from my previous employer? should I claim it as my other income or directly add to my total income ?
[c] Which challan should I used to pay above tax?
CHALLAN NO./ITNS 280 or CHALLAN NO./ITNS
281

I am refering to IT challan numbers mentioned at:
1. Go to https://onlineservices.tin.nsdl.com/etaxnew/Index.html
2. Click 'Please click here' link.

Thanks in advance,
Nilesh

My income consist of some commission and stipend which income from other sources, but in form No. ITR-1, the income from other sources is divided in only two category interest and pension.
What to do

Dear Sir,

I want to ask that a party to whom we are selling the seat belt is giving a rejection bill on which that party is not charging the CST amount only excise duty is add into the basic amount on that rejection bill.Should we debited the cst amount on that rejection bill in case when party is not taking the cst amount on that rejection bill

Plese help me.

Thanks & Regards

vandana