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
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
Reetu Dwivedi
02 June 2012 at 17:07
Dear Experts,
We receive Gratuity cheque from the third party vendor in the name of the Trust and Gratuity payment to Employees’ is made from Trust’s bank account. My question is
1. Is it necessary to pay interest from Trust’s bank account. Can the interest be paid from Company’s bank account ?
2. If interest can be termed as Gratuity ? That is, while calculating the TDS impact on the Gratuity basis the current tax free limit of 10 L, if interest payout to be included / excluded
Regards,
Surya
Sandeep Agarwal
02 June 2012 at 13:33
Sir,
My client has sold an urban agricultural land(Long Term Capital Asset) and deposited the whole sale proceeds in his S.B. A/c. and to take exemption u/s. 54F he has purchased a resi. house in his wife's name and the payment has been made after withdrawing the money from his S.B. A/c. in which sale proceeds of Ag. land was deposited. Now my question is whether he could avail the exemption u/s. 54F for this purchase of resi. house in his wife's name? Kindly quote some case law in favour of the assessee if any.
syed niaz ahmed shah
02 June 2012 at 00:57
i am an NRI by status.
I have a property in Jammu which is being acquired , and the government is saying that we will deduct 10% TDS despite I am of the opinion, that NRI is exempted to pay.Please let me know why there hAS BEEN SLOW TO ANSWER
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Haryana vat
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.