Narendra
27 March 2009 at 10:34

Service Tax

Sir,

pls tell how should i calculate service tax amount to be deposited.

Suppose I my output service tax is Rs. 5000/- and input service tax is Rs. 1000
then should I deposit rs. 4000 or there is other way of calculation.


Guest
27 March 2009 at 09:25

About clubbing of assets

hello everyone
My query is regarding clubbing provisions under wealth tax act.
my question is:-
Suppose a husband transfers gold to his wife without adequate consideration and his wife pledges gold and purchases motor car from such loan.It is clear that gold will be clubbed with the assets of husband and motor car will be included in the assets of wife.But what about deduction of this loan?
As per my understanding i think this loan will also be considered as debt for husband but it cannot be deducted from his wealth as debt is taken for purchasing motor car which is not included in the net wealth of husband.(as per wordings of section 2(m) that debts to be deducted for debts incurred in relation to the assets included in net weath).
please suggest me treatment of the debt in this case)


BHAVIN SHAH

Dear All,

My query is that the TDS is applicable on the amount of the software purchase?

According to my rererence, payment of the software purchase is covered U/s 9(1) royalty payment and royalty is covered under the Section 194-J, so i feel that, TDS is applicable on the amount of the computer software, but i need your expert comment on this issue.

Bhavin Shah


jaigurudev
27 March 2009 at 08:15

notice by incometax dept.

ihave received a notice from IT office that your name is in heat list of IT dept. and as per recent directive from finance ministry he has ordered me to subit cash balance,purchase,sale and closing stock up to 31.3.2009 withan 7 days[withan 7.4.2009]
but notice has no seal.please advice me
officer has written reason that we are manupalting profit.with thanks


jaigurudev
27 March 2009 at 08:14

notice by incometax dept.

ihave received a notice from IT office that your name is in heat list of IT dept. and as per recent directive from finance ministry he has ordered me to subit cash balance,purchase,sale and closing stock up to 31.3.2009 withan 7 days[withan 7.4.2009]
but notice has no seal.please advice me
officer has written reason that we are manupalting profit.with thanks


damodharan
27 March 2009 at 07:34

huf

can chirsten cretae h.u.f & Muliam create h.u.f Tell me status of both case


shri.........
27 March 2009 at 00:02

TDS

Company paid car hire charges to party( for e.g. Mr.X) & deduct TDS @ 2.266%.

company paid advance imprest to its employee & pass the entry :
Advance imprest Dr.
to Cash A/c

& when employee submit the details of Advance imprest then he also submit a bill of Mr. X (for car hire charges), in which he had not deduct TDS.


now will company liable for non deduction of TDS ?


Harshit Jain
27 March 2009 at 00:02

Credit of Service Tax

Sir,

I had availed services from a person and against that the person invoiced me the fees along with appropriate service tax. I have also paid the invoice in full, that is, fees and service tax.

But now, if that person does not pays the service tax to the department.

Will I be able to avail the credit of such service tax paid by me to the person.

Regards,
Harshit Jain


Sudhanshu Bhasin
27 March 2009 at 00:01

DVAT or CST ? or BOTH

Hi Experts,


I am registered VAT dealer in Delhi dealing in Helmets and other merchandise products.

I have a DVAT TIN number assigned to every dealer Delhi.

I have customers in and around India and I want to send some goods to my customers outside Delhi.

When we sell something out of Delhi it is considered a CST sale or Interstate sale.

Thereby from a registered dealer to registered dealer outside Delhi would require getting C Form executed in our favour.

However, we are not selling goods to registered dealers but to the consumers.

These consumers are just like you and everyone who wants to buy goods from us BUT afcourse CANNOT give us C form.

My question here is -:

If I sell goods worth Rs 900 to an individual in Punjab, I will charge a CST of 2% on the Invoice.

Do I also have to pay DVAT of 12.5% also ?

Please advice and a brief explanation would be really appreciated.

Regards,
Sudhanshu


shri.........
26 March 2009 at 23:53

revenue stamp

All expenses which exceed Rs. 5000 need to affixed Revenue stamp on voucher.
If company gives advance to its Employee (more than Rs.5000) then is it mandatory to Affixed Revenue stamp on voucher.