Dushyant Shah
22 November 2014 at 16:58
Here under some more clarification:
Credit availed on Input Services shown in ST.3 -Apr14 to Sept14. Can we utilised closing balance shown in this ST.3 - as on 30.09.14 - against liability of CentraL Excise arises on clearance of Finished Goods during Nov & Dec-14.
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Unit having Excise and Service Tax Registration. Unit engaged Manufacturing of Excisable item and also in providing Taxable Services from same premises.
For claiming Cenvat Credit two separate RG23 part II maintained.
Filling periodic statutory returns.
Question: Balance of Cenvat Credit of Input Service available in ST3 can be utilized for to clear monthly clearance of Excise Liability arise due to clearance of manufactured item.
Chandan Garg
22 November 2014 at 00:12
Can anyone explain the relevance of form DVat 32? Why and when it is used?
PAWAN PARIKH
21 November 2014 at 20:14
Hello Sir
i am doing trading business , i have received notice for cash deposit near about 80Lac in FY 12-13. i have never filed income tax return til today . my question is can i file my return u/s 44AD doing tax audit u/s 44 AD in back date ( profit showed less than 8%) or i file my return showed with profit @ 8%.? My CA told me if we do audit U/s 44 Ad penalty as per Section 271B will have to pay which will be 0.50% of ur turnover. So i am Confused which way will be convenient to me .
giri gattupalli
21 November 2014 at 09:46
respected sir,
two of my clints entered in partner ship in 2012 may and concluded partenrship deed on whitepapers inthe presense of notiry and got certified by notary but not regestered the deed.and renumaration is agreed at 1,50,000 each per anum in deed.now my problem is can i claim renumaration paid by firm to partners or it is objectionable by it department as it the deed is not regestered. please discuss
Y Singh N Rajput
21 November 2014 at 09:11
For non-payment of dues Income Tax Department took possession of the assets of a public limited company. The put public notice inviting tender a number times but could not sell the assets as the Department was not getting floor price.
The watchman placed belongs to the Company.
Can the Company do business form the premises?
icecoolsiddu
21 November 2014 at 01:43
Dear All,
I am student and i don't have any other income but i hold deposits in a public bank, where i earn a deposit interest of rs.10850 to 11000 approx. I hols a PAN and i also have submitted 15G form to the banker and got witnessed for the submission on 7APR14. But after four months later i can realize they are deducting TDS for the interest amount that i am getting on monthly basis.
When i inquired they said i will issue 26AS form from our side you need to file IT returns and get refund for the same.
My question is that I have submitted 15G on 07APR14, but this is purely banker mistake, i need to take action on them and get compensation for the same. Is this possible please suggest.
parteek bathla
20 November 2014 at 18:19
Interest received on enhance compensation under section 28 of land acquisition act. Whether this Interest amount is taxable under income tax act or not?
Mohammad Usman
20 November 2014 at 16:11
I am a manufacturer and involved in both import of raw materials and export of finished goods. How can I avail benefit of export in exemption of custom duty? And are there any other export benefits which I should be aware of?
MOHAMED FIROZ
19 November 2014 at 11:48
My friend, 64 years old, an NRI sold his house on registered document for Rs. 1 crore, one week back only. The buyer paid him the entire amount by RTGS without any deduction for tax purposes. The amount has been deposited in the NRO a/c. His capital gains tax comes to around Rs. 19.50 lakhs after cost indexation deductions.
Is it mandatory to pay the TDS before the sale? If so what is the correction to be done now? When should he pay his tax liability of 19.5 lakhs? Is his total tax to be paid is 20% on capital gains or 21% including the 1% on TDS before registration? Can he pay his tax liability under self assessment at the end of March 2015?. Should he pay Advance Tax now itself?
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Tax relief
sir,
i was having a stone crusher business in partnership with 2 other, all of us sold it to some other party and received our share of money.
i invested the full amount in opening restaurant in first and second year of receipt of the above said amount.
sir, is there any relief in payment of tax for the amount received from selling stone crusher business in any provision of income tax act.