T.N.REDDY
16 December 2016 at 19:08
vide sl.no.2.goods of intangible or incorporeal nature as may be notified from time to time by the state government, and including
(iii)Import licenses including exim scrips, special import licenses and duty free advances license or quota
my client is in to the business of development of software, and we also import certain licenses in order to trade in india. and when we sell we collect of vat/cst rate as applicable and remit to the dept.
now the A.O. says that when you import the licenses, you are supposed to pay the VAT as purchase tax and then take the input against the output VAT.
is it correct ? kindly advice
vivin
15 December 2016 at 16:36
Both the issuing bank and beni are located in Mumbai.
Anand Jha
14 December 2016 at 17:46
We are Edible & Non Edible Oil Manufacturer.
1.We are exporting non edible Oil and
2.The bye product (DOC) from edible & Non edible oil is also exported as well as sold for Domestic consumption.
For Packing and product handling, we have engaged contractor some of them have been engaged, on piece rate basis and some of on mandays, Now the Question arise whether the Service Tax payable on :
1) the Labour services used in factory for Non-edible Oil which is 100% exported?
2)the labour Services for product handling in factory used for DOC which partly exported?
3) Packing & Filling Activities of edible oil, which is sold to domestic consumer?
chetan
12 December 2016 at 15:09
Dear Experts,
we are buying (me and my wife) a property (flat) which is a joint ownership (50% each).
Query
1) TDS 1% of the agreement value should I have to pay equally on the pan cards of the joint owners ?
2) should the joint buyers also have to split the 50% TDS and pay each to the joint owners pan card separately?
dinesh kumar
10 December 2016 at 16:09
I AM A KARTA OF MY HUF, I HAVE INVESTED RS.500000 IN LIC JEEVAN AKASHAY PENSION PLAN THROUGH HUF FUND FOR BENIFIT OF HUF . I WILL GET 3400/PER MONTH FROM NEXT MONTH TILL SURVIVAL.
NOW I WANT TO KNOW WHETHER THE MONTHLY INCOME THROUGH JEEVAN AKSHAY WILL THE INCOME OF HUF OR MY PERSONEL INCOME FOR INCOME TAX POINT OF VIEW.
Harddik A Thakkar
08 December 2016 at 11:16
Dear Sir/ Madam In the balance sheet of an individual, loan has shown, but the repayment was made by unaccounted money. How to deal with this loan in balance sheet. Person wants to remove it from balance sheet permanently. What accounting and taxation matters taken into account. Can it be shown as Defaulter? What compliance and consequences should be taken into account. Thanks a lot
LOOK4U
06 December 2016 at 23:55
MY CLIENT ....HAS NOT PAID MVAT TAC FOR FY-2013-14 & 2014-15.....
BUT PAID MVAT TAXES IN TIME & FILED MVAT RTM............
CLIENT HAS RECD..........THEY DECLARED ...DEFAULTERS,,,,,,
WHAT WILL BE CONSEQUENCED.....& SOLUTION....
LOOK4U@REDIFFMAIL.COM
rajesh singal
05 December 2016 at 13:22
Dear Experts,
I bought a property in 2003 on cash payment of Rs xxxxx though sale deed. This sum was payed through personal savings accrued over time( 2-3 years) from withdrawls from bank which were kept at home. Now Income Tax has asked to prove source of fund of this property. My IT return for assessment year 2004-05 too reflects that i had an income from salary much more than the amount for which i bought the property and i had a bank balance more than xxxxx purchase price at the time of buying property.
Please guide how to answer the query from income tax.
LOOK4U
03 December 2016 at 11:21
IN 31-03-2016,,,IN BALANCE-SHEET ...I HAD COH- RS-5200
NOW FROM MY OLD SAVINGS...FROM MY DRAWINGS....
DUE TO DEMONETISATION.....I HAD CASH DEPOSITED...45000 * 4 TIMES=RS 1,80,000
QUES....
WHAT WILL BE ACCOUNTING ENTRY....
CAPITAL INTRODUCE (DEMONETISATION) RS-180000
& CASH DEPOSITED IN TO BANK.....
EML-- LOOK4U@REDIFFMAIL.COM
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Service tax
I have an shop monthly rent is 14000/P.M My tenanat is not paying rent on due time.but this year he has paid all arrear amount. I.e 231000/=&vacate the premises & not collected any service tax from tenent Last year my rental income was less than 10 lacs .So I have not charged & paid any service tax.but this year my rental income has exceeds Rs 10 lacs..
My question is -what is service tax implication on my rental income where I have not charged & collected service tax.Is there any possibilities to avoid /minimise the service tax applicable on my rental income .Is service tax payble on actual amount received or amount due .