as per income tax provisions which relative can give gift to individual.

Dear Exprts,

Can you pl explain the applicability of the following ST notification to custom house agents, freight forwarders & tranporters


20th June, 2003.

Notification No. 12/2003-Service Tax

In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts so much of the value of all the taxable services, as is equal to the value of goods and materials sold by the service provider to the recipient of service, from the service tax leviable thereon under section (66) of the said Act, subject to condition that there is documentary proof specifically indicating the value of the said goods and materials.

2. This notification shall come into force on the 1st day of July, 2003.

Sir,
I am having a doubt on the method of calculation of tax deductible under sec 194B and 194BB..
in one of the books that i read, it is given that the tax is calculated at the specified rates on the amount recieved less the exemption amount under the section (ie Rs.5000 and Rs.2500 resply).is this the correct method to be followed or is it that the tax is to be calculated on the gross amount recieved??

and if it is on the net amount.. then is the exemption amount to be deducted on every reciept of such income for the pupose of calculating the tax on it??

We have rented premises, the tenant has provided furniture & fixture, now is charging service tax for the furniture & fixtures, i need a clarification whether service tax is applicable on rented furniture & fixtures

Dear Friend,

Is there is any Deprciation Rates available under IFRS Like companies act.

what is the new tds rate for transporter?

I want to know the diff between renewal and revival in banking sector.

Question:
Suppose I have machinery X with a WDV of Rs 100000 on 1/4/08.
it is given that two more machines were put into use on 1/1/09,details are given below,
Machine Y(purchased on 1/6/07)-Rs 50000
Machine Z(purchased on 1/1/09)-Rs 40000

Later Machine X was sold for Rs 160000.
It is given that all the machines X,Y and Z belong to the same block of asset with rate of deprecation 10%.
Calculate the deprecation for this year.
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1.What will happen if the employee contribution & Employer contribution to PF is not paid to credit of GOVT within the due date.
2.What will happen if ESIC, EDLI, EPS ARE not deposited within the duedate to GOVT.
3.IF the employee contribution & Employer contribution to PF is paid within 6 months from the end of the FY OR before filing the return...is it deductable expenditure or not under ITAX ACT 1961.
4.THE interest, penalty paid on delay in payment of the PF contribution from employee&employer,TDS, ESIC, EDLI, EPS is the deductable exp or not in p/l for tax calculation


pLEASE CLARIFY IT....THNKS IN ADVNCE

hi,m in pcc pursuing my article in some firm at delhi,can i take transfer in any firm in delhi after the rule has been changed in september that onetime transfer is allowed.cn anybody suggest me