D.G. Mohan
29 October 2012 at 21:20
We have a purchase invoice for purchase of goods with TIN no. printed on the invoice. Based on that we took input tax credit. But after one year it was found that the TIN no. on the invoice was fake. What will be the outcome if the vat dept. comes to know of this?
d. chandra sekhar
29 October 2012 at 09:15
Sir anybody please clarify the issue.
The Government of India has introduced Service Tax on Restaurant & Bar from 01.05.2011. For payment of Service tax on the above service, How arrive the taxable value of not availing the abatement. Is it possible pay the ST only on service portion. Please clarify the issue in detail. If you want any information I will provide you.
Anonymous
28 October 2012 at 09:50
I hv came across situations where I saw hotels like mcdonalds charging service tax to customers but whereas local restourants are not charging the same and many restourants are charging service tax without mentioning their registration number on bills. Is the service tax applicable to restourants? How can customer come to know whether owner of hotel is really forwarding tax to govt or not?
tushar
26 October 2012 at 21:47
sir/madam,
i am holding residential demat account and now joined shipping profession
i mean am seafarer now.i am not staying in any country for 5-6 days per month.
My income source is from abroad.and stay outside india for more than 182 days.
ship visits lot of country. am holding indian passport.
In past i opened demat account (residential).
Is there need to close present residential Demat account and open NRI Demat account if i continue in profession at sea??
please guide,
tushar
sachin lokhandwala
26 October 2012 at 00:15
dear sir
my client is labour contractor during FY 2008-09 the principal has deducted TDS on total labour contract payment and my client has not filed return of income now he has received notice from income tax department asking him to show his return of income now my client can file his return for fy 2008-09 what will be penalty can he save him self from penalty of rs. 5000/-
i want to file his return u/s 44ae presumptive taxation @ 8% on total receipt can i file the same and should he get all the deduction for that year.
kindly suggest
NOTTAM VENKATASAMY
25 October 2012 at 19:35
ONE PERSON START A BUSINESS AS PARTNERSHIP FIRM. ANY TAX BENEFIT BETWEEN SOLE PROPRIETOR AND PARTNERSHIP.
rk yadav
24 October 2012 at 22:29
dear sir,
i am a marine engineer and go aboard ship outside india,
by this i stays more than 182 days outside india in one financial year and as per income tax act 1961 i achieve status of nri,,,
but now with this DIRECT TAX CODE Bill - 2010 defination of nri is changed ,
my questions are as follows
1. is Proposed Direct Tax Code Bill 2010 is passed in parliament & is it in force ???
2.with this new defination of NRI in Direct Tax Code Bill 2010 a seafarer's income whose source of income is foreign shipping company will subject ti income tax.
Thanks & Regards
d. chandra sekhar
24 October 2012 at 18:36
Sir, please clarify the following issue regarding sales tax
My client executed painting work at Ravva offshore platform in the year2009-201 and 2010-2011. The value of the work is Rs. 5 Crores approx. During the execution of the work my client purchased materials and consumables for paining work. For transport of these materials and also labour from onshore to offshore, my client utilized the contractee Helicaptor service and the contractee recovered the charges for transport of these materials and labour from the amount paid to my client. The Sales Tax Officer, Kakinada disallow these amounts Rs. 1,56,00,000/- approx from the Gross Total Income and levied tax @ 14.5%. ( Client not opted composition and maintained books of accounts).
Sir, please clarify, whether this amount is allowable deduction under Rule 17 of APVAT Rules, 2005 or Not? If allowable, please give me relevant case laws.
If you want any further information, i will provide you
Kapil Tiwari
24 October 2012 at 03:54
A vacant plot of land was sold for a net sale consideration of Rs.1,10,36,000/-. The fair market value, after indexation, of the land, as on 01/04/1981, was Rs.19,39,091/-. Hence, Long Term Capital Gain was Rs.90,96,909/-.
The following are the investments made and proposed to be made for claiming tax exemption:
1)Rs.50,00,000 in NHAI plus REC bonds for exemption u/s 54EC(now, investment already made),
2)Rs.60,36,000 in a residential property for exemption u/s 54F(proposed to be made)
Please advise:
a)computation of the total tax exemptions that can be availed,
b)total Long Term Capital Gains Tax payable after considering the exemptions.
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If assessee is not well,who can represent him?
Should answers to notice be given on his behalf and get signed by him too that he does not remember much now?