Discussion on service tax ca final - can anyone join now?

Sec 35

1. exp. for assessee's own buss,

i.   in house          100% ded.     for both revenue n capital exp.+  exp. during 3 yrs immediately preceding yr of commencement  (except for LAND)

]ii. if co. in specified buss..                 200%

2. Contribution to Outsiders

i To REsearch ASSociaton            -    for Scientific Research                                            175%

                                                           -     for Science n Stat. Research                                 125%

ii. To company                                       for  Scientific Research                                            125%

iii. To National Lab.,university            for Scientific Research under

      IIT or Specified person                    program approved by prescribed authority          200%

ok i am thinking of sec 35 ad but for sec 35 compny is geting only 125% deduction

deepa tell me answer to bittu question sec 40 a(3)

ok what is difrence betwen sec 40a3 and payment to erlative

sec 40 a3 is for cash expenditre above 20000 and for fright payment 35000 

whther sales tax refund is taxble 

Sec 40A(3)  related to expenditure in cash( other than A/C payee Cheque or Draft) in excess of Rs. 20000 or 35000

but payment to relative comes u/s 40A(2)   i.e excessive or unreasonable exp. to them

hlo is it free to become pro active user in cci

Sec 40 A(3) - Where assess incurs any expenditure which is allowable and claimed as deduction and the payment or aggregate paymtns made to a person in a day in respect of such expenditure otherwise than by an account apyee cheque drwan on a bank or a/c payee bank draft exceeds Rs.20000 shallbe disallowed.

Any gift from relativesis taxable as whole

please explain me 40A(2) once

ok if u made payment to your brother sister ypur subsidary comapny and it is above market price than diff betwn mp and above price is disallowed

sales tax refund is a case law  the essence of it is sales tax refund is chargeable to tax under sec 41 eventhough the same was refundable to customers. Where a deducation has ben availed in repsect of sales tax liability and later  the same was refunded back to theassessee, the refund will have  the character of revenue receipt and the same would be liable to tax. If the assessee refunds any protion ofthe amount of such refund to its cusomers, the assessee will be entitield to claim deduction as and whens such refund / return is mad e to cutomers

whther intrest on sales tax and penalty allowble

what is sec 44 ad

excessive or unreasonable exp to specified person

it shall be determined

i. havingregard to FMV of goods ,services.......

ii. legitimate needs of B/P

iii/ benefit derived by or accrued to him