roshini
07 June 2012 at 15:05
A gazetted officer is in job from about 27 years and currently file income tax return on about 7 lakhs per year i.e. net taxable income is 7 lakhs/year.He get to know from other sources that a person has filed tax evasion petition on him that he has asset of about 15 lakhs purchased which is also true and it is mentioned by officer in asset declaration in govt. office during that financial year.actually that person is trying to unnecessary harass the officer.Now my question is that how to describe explanation of it to income tax department because officially officer doesn't get any explanation but want to clear all the fact to income tax department that he has bought asset from his savings as well as from ancestrol incomes.
Chirag
06 June 2012 at 21:55
Dear Sir/madam,
I am a consultant working on a contract basis with a US company.I provide quality assurance services to this US company in SEZ and EOUs. The remuneration is received monthly in US $ as decided in the contract. Though the services are provided in India the product is not used in India. The product is 100% exported to US. for consumption. My query is do my services fall under service tax bracket if it exceeds 10 lac in a year. Kindly advise and thank you in advance.
Ajay Agarwal
06 June 2012 at 17:28
Please solve my Problem--
1. In April sale Rs- 15, 00,000 @ 5% vat Rs- 75,000
2. In May sale Rs- 6, 00,000 @ 5% Vat Rs- 30,000
3. In June sales Rs- 5, 00,000 @ 5% Vat Rs- 25,000
My question is
-When vat should be deposited in bank account of sales tax deppt with challans?
1. in the end of Quarter (i.e. in July)
2. in the month of May when vat amount exceeds Rs- 1, 00,000.
Thanks.
prabhat
06 June 2012 at 10:01
I have an HUF. I am the karta of the said firm. i am also a consulting advocate. can i show expenses towards consultatiion fees or salaries paid to me by the said HUF. can salaries paid to my wife and daughter by the said HUF also be allowed as expenses as per the IT act? kinldy let me know.
tdeli
05 June 2012 at 19:01
The following professions have been listed out as professions in section 44AA and notified thereunder (Notifications No. SO-17(E) dated 12.1.77 and No.SO 2675 dated 25.9.1992):
Accountancy
Architectural
Authorised Representative
Company Secretary
Engineering
Film Artists/Actors, Cameraman, Director, Singer, Story-writer,etc.
Interior Decoration
Legal
Medical
Technical Consultancy
1. Do only the above professions and not all the professions need to get their accounts audited if their incomes go above 15 Lakhs.
2.Does a TV Artist also need to get his accounts audited or will he not come under the definition of a Film actor.
Bhupendra Dubey
05 June 2012 at 12:13
Dear Sir / Madam
We are importer of used metal working machines. We pay Additinal Duty@4% under Custom Duty. Is this additional duty can be credited like sale tax or vat. We are not registered under excise but registered in sale tax.
If the modvat of this duty can be taken then please tell me the procedure.
Please reply earlier.
Bhupendra Dubey
RD
04 June 2012 at 20:08
There are 2 separate issues. Kindly opine. Thanks in Advance.
1. Royalty is payable to Foreign Co resident of Germany. What shall be the rate of TDS? Will there be any difference if the Company is not having PAN?
2. Will there be any requirement of TDS in case of payment of Sales Commission to an Agent residing and operating from outside India? What shall be the effect of cancellation of Circular No. 786 dated 02nd Feb, 2007 - specifically dealing with non-applicability of TDS in case of agents operating outside India?
Kindly reply ASAP
Thanks once again.
tdeli
04 June 2012 at 18:25
Section 44 AB of the I T Act says that film actors need to get their accounts audited if their income is above 15 lakhs for the A.Y. 2012-2013.
A is a TV Artist who gets 12 lakhs receipts as Reality Show TV Artist and he also gets 4 lakhs as a Film Actor in a Film which totals to 16 Lakhs.
1.Will A need to get is Accounts Audited or not,as his income from Films was only 12 lakhs or will his income from TV Shows will also be added for the purpose of audit.
2.Does a TV Artist also needs to get his accounts audited if his income goes above 15 Lakhs annually .
Thanks...
vinay behl
04 June 2012 at 11:24
Dear Sir
It is to draw your kind attention that we are in to manufacturing of equipment of life saving.
My question is that if we raise P.O to a party of Ahmadabad AND calculated the service tax of 12.36% and we made shipment /delivery to Jammu(Branch office of said party) where service tax is exempted.
so kindly show us the way how we can claim the service tax from such party
Thanks & regards
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