Rajaram
25 September 2012 at 07:41
Hi, a company is collecting money under the name Service Tax without registering ST. They are collecting from two years amounted to 13lakhs. What will the service department do if they came to know? If one wants to complain this act by that company to service tax, what is the procedure?
Asha
24 September 2012 at 19:25
Plzz hepl regarding this prob. When i imported 26AS of a client it gave the amount credited under section 194C near about 18 lacs but no TDS.Is it possible that No TDs is deducted on any payment credited or its the fault???
RAJESH CHOUDHARY
23 September 2012 at 18:55
Hello everyone, there are many clients who does not have service tax number so they take kuchha bill (without service tax) for various services like accounting, auditing, maintenance etc because they cannot calim CENVAT CREDIT. even myself has taken kuchha bill for water purifer/tea & coffee machine (fixed assets) & tea powder for my office because i am not liable for MVAT and i cannot claim credit of MVAT paid and in this way i can reduce my cost. My question : What is the risk of taking "kuchha bill"(if the payer cannot is not registered under MVAT/service tax) from taxation point of view ??
RAJESH CHOUDHARY
23 September 2012 at 18:53
Hello everyone, Mr. X has registered himself under MVAT on 20th sep 2012. from April 2012 to 19th september he has purchases of Rs.400000/- on which he has paid MVAT say Rs.45000/- My question : Can he claim the set off of Rs.45000/- in the MVAT return for the period april to september 2012 ? thanks in advance waiting for your reply.
Regards,
Rajesh Choudhary
Asha
23 September 2012 at 18:50
TDS of Rs.528120 was deducted by the system on a term deposit of Rs.2.50 crore on 31.03.2005 pertaining to a University. This TDS was remitted to ITO after a week. University had not submitted any tax exemption letter / 15 H form. This deposit was matured for payment on 10.04.2006 and University wanted to renew this deposit together with interest when TDS deduction of Rs.528120 was noticed. To favor the depositor, Bank has refunded the TDS of Rs.528120 and renewed the deposit. Refund was done to the debit of SUSPENSE account as per the ORAL instructions of Regional Head of the Bank At this point of time TDS of Rs.3.50 lakhs deducted by the system on all the deposits on 31.03.2006 was not remitted to ITO till 30.06.2006.The Branch manager was transferred to another branch. He instructed the Accountant of the branch to credit Rs3.50 lakhs to SUSPENSE account where Rs.528120 refund of TDS was outstanding. When this matter was referred to a Chartered Accountant, he opined that bank cannot do such adjustments as Bank has to issue TDS certificates to investors as on 31.03.2006 and date of remittance of TDS must be mentioned in the TDS certificate and bank cannot mention the date of remittance if bank resorts to such adjustments. So amount of Rs.3.50 TDS as on 31.03.2006 was remitted to ITO belatedly. Bank has absorbed Rs.528120 in its revenue account as it cannot hold the amount in suspense account for indefinite period and claimed the amount from ITO by obtaining a letter from the University that Bank can claim this amount from ITO.This TDS refund is not yet settled by ITO. In this connection, kindly guide me on following Whether Regional Head of a bank has any discretionary powers to refund the TDS amount to the depositor to the debit of SUSPENSE account when this TDS was already remitted to ITO one year back without any proposal / planning as to how to get back the amount Whether Bank's decision to adjust the TDS of 31.03.2006 to SUSPENSE account was right Is this a procedural mistake or a FRAUD? Please offer your comments and suggestions
Thanking you in advance sir,
Asha
22 September 2012 at 18:25
one of my brother who is an Individual has 2 Proprietory Conerns, both the 2 concerns are under TAX audit . So How to fillup in the e-filing software about these two concerns balance sheet & Profit loss account in ITR_4 Form. PLS. SUGGEST ME. AWAITING FOR REPLY.
pooja dedhia
22 September 2012 at 16:19
i have confusion about the allowability of exp?
follwing exp are made on provision basis on f.y.11-12.Bills are not issued by the professional . wheather this exp are deductiable in which years? 1.Audit fees. bill is raised on 23 june 2012 ,taking the detail of sservices are rendered for the period of F.Y.2011-12 2. title clearance by the lawyer BILL RECEIVED ON 29.09.2012 IN ABOVE CASES Provision entry is made in f.y.2011-12 & also tds is deducted as on 1.06.2012.. how this claim made ?
kaushik
22 September 2012 at 15:19
Dear Sir,
we have 2 unit and both are excise register. we want to get permeation of excise dept. for movement of goods without payment of duty for grinding/machining process. so which procedure is best for us ? at present unit-1 sending invoice to unit-2 after grinding process unit-2 will send the invoice unit-1 but its so difficult for us cause we are hold stock in unit-2 and that case there have stock excise duty unit-2. in that case what can we do ?? hows we use our excise duty ??
sir can we go u/r 4(5)(a) ?? so please tell me about this rule…
and sir if possible than give me link of u/r 4(5)(a)
thanks
regards
kaushik
chandrakant
22 September 2012 at 12:59
I had filed online returns for AY 2011-12 claiming refund of 7806 as my TDS was 16968 and aggregate income tax liability was 9162. I have received rectification order from CPC Bangalore and it shows (in column AS COMPUTED UNDER SEC 154) TDS 0000 aggregate income tax liability 9435 refund amount 0000 and net amount payable 9435.
If TDS is 16968 (as per form 26S) why CPC is asking to pay 9435 ? Aren't they linked with NSDL ? What should I do to claim the refund ?
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Stamp duty and registration for govt allotted land
Sir, I am from Aurangabad,Maharashtra,working in Govt of Maharashtra Company. Sir, Collector has allotted a piece of Govt Land for construction of sub station. Accordingly the occupancy price i.e. cost of land as per ready recknor rates Rs 6,80,000/- and Interest over it Rs 13,08,000/- has been deposited by our company.Total amount deposited Rs 19,88,000/- to Collector.As per Maharashtra Govt Circular dated 31/10/2006, Collector has directed to execute the agreement bond with necessary Stamp Duty and Registration charges. Sub registrar has informed the amount of Stamp duty at 4% and Registration charges as 1% over total amount of Rs 19,88,000/- i.e. Rs 99,400/-.
Now question is whether the Stamp Duty and Registration charges are applicable on Interest amount of Rs 13,80,000/- also.
Please give your valuable guidelines.