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Ami Parekh   23 October 2009 at 16:06

Exempted - Mediacl reimbursement

Dear Expert,
I collect medical bill from my staff and pay them medical reimbursement. As per law 15000/- p.a. is exempted but are there any rules which say it has to be given every month. Cant it be paid yearly ? if i receive a single bill upto 15000/- in a year is it exempted and can i pay at once ?
Please guide..
Thanks & Regards
Ami

Ami Parekh   22 October 2009 at 18:46

Service TAx Credit

hi.......

Dear Expert we pay service tax on the rent of our office till June 2009 after which the service tax on rent is removed but can we take credit of service tax paid on rent till June as our business is of Business Axillary services.

Please guide.

Thanks & Regards
Ami

B. R. Passey   22 October 2009 at 17:36

Whether VAT is deductible for Valuation of Services?

Whether amount of VAT paid/payable is deductible alongwith CENVAT credit of Inputs and Input Services, while computing the value of taxable services of a Composite Works Contract definable under Erection, Commissioning & Installation Services?

Please note that amount of VAT is deductible in computation of Services under Works Contract Services and in the same manner VAT should also be allowed as deductible!

B R Passey

SANDEEP BAWEJA   21 October 2009 at 14:39

44AF

WHAT IS THE LAST DATE OF FILING THE RETURN OF ASSESSEE WHOSE BOOKS ARE AUDITED U/S 44AF (PROFIT IS LESS THAN 5 %)

Smita   18 October 2009 at 13:31

Nimbus Case

Could you please tell me how to get a bare text of the Nimbus case, or how the assessee (Nimbus) tried to refute the royalty contention raised by the revenue?
Thank you.

abdul rashid dulloo   17 October 2009 at 14:29

section 147 of income tax act,1961

While making an assessment or re assessment u/s 147, the Assessing Officer, can not ask information u/s 143(2)so as to make an assessment of the nature of section 143' a regular assessment. In the case of section 147 assessment, the AO should know the amount of income which has escaped the assessment on the basis of information which has come to his notice rather than determining the income as if he is acting u/s 143. Am I right?

ROHIT   17 October 2009 at 11:55

entry tax evasion

can anybody proove that sales tax evasion is not a crime so that it should not be covered under i.p.c 420,465,468,471 wether tax is evaded by making fake bills and billties

PrnBCRBant   16 October 2009 at 15:07

Corporate law

Dear Sir
i need a copy of the resolution to be passed by a pvt ltd company in a board meeting to increase the remuneration of directors with retrospective effect

Sunlawseeker   15 October 2009 at 15:22

Physically Handicapped Govt Employee exmpt Professional Tax?

Hi!

My friend is working with Judiciary department, In Tamil Nadu State.

He is a physically handicapped person.
Is there any exemption in Professional Tax to him?

Can you let me know about the provisions pertaining to exemption of professional Tax to Physically(orthopeadically) handicapped?

thank u

sajad ali   14 October 2009 at 14:19

Late filing of ITR5

I am an accountant, looking after Income Tax/ VAT accounts of various firms. The last date of filing online ITR5 for J&K state for Assessment year 2007-08 was 31st October and for Assessment year 2008-09, it was 30th November because of some disturbance in the state. But for Assessment year 2009-10 it was 30th September. Since I am not updated with the new last-date of filing ITR5. My ITR's of about 10 partnership firms (audited cases) are yet to be filed.
I want know:
what type of penalties my firms shall face for late filing of returns?
what are the remedies under Income Tax act to save my firms from these penalties?