while doing a stock valuation, we have make 100% write off provision on Non-moving items.Now my query is that, as per CENVAT credit rule 2004(rule no-3(5b), i have to pay the excise duty on such written off amount ? & when in future, while using such items in production process I can take a CENVAT credit ?....
Plz Help Some Body........

if a salaried employee is getting salary more than the exemption limit than the employer of that employee is liable to deduct tax at source for that year .generally tax should be deducted every month from the account of employee.my querry is that if the employer decides to deduct tax of the employee from july or aug or sep onwards for the whole year,than is he liable to pay interest as tax of every month is due on 7th of succeeding months and the tds has not been deducted for the month of april,may ,june.No liability for tds has been created for the month of april,may,june

what are the transactions which attracts work contract tax?

Sirs,

when deducting TDS on the sales commission payable to an agent, whether gross amount including service tax paid to him has to be considered.

i.e. Commission amount is Rs.100/-. Service tax collected by him is Rs.10.3/-

whether TDS should be on 100 or 110.3/-?

It is contended by one client that the service tax collected by the agent from the service receiver is reimbursement of expenses and for us, it is commission..

i wish to know that whther this stand is correct or not.

Further, in Profit and loss account the entire amount i.e 110.3 is charged as Commission paid. (No distinction between commission and service tax paid- in the books of the service receiver) ( the Service receiver is not claiming any input tax credit as he is not liable to any Service tax or Excise duty)

kindly clarify

Angayarkanni Murugesan

DEAR ALL,

How can I calculate the limits to increse the remuneration of our directors under
Section 269 read with Schedule XIII of the companies Act 1956.

Kindly advise.

Is it compulsory to give the details of Exempted parties transactions in quarterly return 26Q?

My client is a partnership firm and they are in a business with exemption under 80IB. During the year they earned profit in crores. Now, i want to finalise their accounts. Can i show minimum remuneration to partners and maximum amount of profit distribution as profit is exempt under section 80IB. ????

plz tell me that which documents are required for accounting of newly formed pvt. ltd. company

DEAR SIR/MADAM

AN ASSESSE PAID TDS THROUGH OLD CHALAN NO.281

1. TDS DEDUCTED IN THE MONTH OF APRIL AND PAID 7-MAY-09

2. TDS DEDUCTED IN THE MONTH OF MAY-09 AND PAID 7-JUN-09

IN THE ABOVE TWO CASES DEDUCTOR WAS PAID TDS IN OLD CHALLAN-281 IS IT CORRECT OR NOT, APRIL AND MAY DEDUCTEE DETAILS ARE FILED IN AGAIN NEW FORM-17 BY DEDUCTOR
3. TDS DEDUCT IN THE MONTH OF JUNE-09 IS MANDATORY FOR FILE IN NEW FORM 17 OR OLD FORM 281. PLEASE TELL
THANKS IN ADVANCE

How Can I make entry in Tally & in which Voucher on given example, for Calculating Capital Gain / Loss, & to find out Stock Position (Closing) ? Please specify it & help me.

Purchase details : On 15 June 2008, X Purchases 100 Shares in For Rs. 12,000.00 ; at the time of purchase X pays : Brokerage Rs. 6.15; Transaction Charges Rs. 2.50; Stamp Duty Rs. 3.25; Service Tax Rs. 9.50; STT Rs. 18.00.
( Total Amount X pays for 100 Shares 12,000.00 + 6.15 + 2.50 + 3.25 + 9.50 + 18.00 = 12,039.40 )


Sales details : On 20 March 2009, X Sells 75 Shares For Rs. 10,875.00; at the time of Sales X pays : Brokerage Rs.5.25; Transaction Charges Rs.1.85; Stamp Duty Rs. 2.25; Service Tax Rs.7.50; STT Rs. 16.00.
( Amount Realized after paying Charges & Taxes: 10,875.00 - 5.25 – 1.85 – 2.25 – 7.50 – 16.00 = 10,842.15 )

Can X claim expenses incurred on DMAT charges for buying & selling.