SUBHASH SHARMA
17 July 2009 at 19:40
ONE OF MY CLIENT GOT VAT REGISTRATION IN NOIDA, BUT NOT YET FILED HIS VAT RETURN TILL DATE.
NOW HE HAS TO TAKE FORM 38 FROM THE DEPARTMENT OF COMMERCIAL TAX ( SALES TAX )
HE HAS BEEN DOING JOB WORK ON CLOTH AND USING INK ( CONSUMABLES ).
MY QUESTION IS SHOULD HE CHARGES VAT ON WHOLE VALUE FABRIC + JOB WORK CHARGES + MATERIAL USED OR ONLY ON MATERIAL USED.
IS VAT APPLICABLE ON IT AT WHAT RATE.
IF HE DONT DO THE JOB WORK ONLY DO TRADING OF FABRIC. IS TAX EXEMPT ON IT.
Prajna Acharya
17 July 2009 at 18:05
I want to know how to compute income of L.I.C. Development officer's income under Income Tax Act, particularly with regard to allowance of expenditure (giving an example wit fict. figs if possible). further please provide me any case laws for claiming such exps in case the same is not as per sections of the income tax act.
Thanks in advance.
kk
16 July 2009 at 23:32
we are payor for services received from USA company and we are paying royalty so at time of paying royalty do we need to reduce service tax from royalty ???(I donot mean TDS)
so is ther any DTAA agreement with USA for dedudtion of service tax on royalty paid??
please give me link of DTAA ..........
P.S.Subbaraman
16 July 2009 at 20:01
If a Father and son are practising as Advocates .Are they liable to pay Service Tax and whether they come under the definition of "Association of Persons".
Whether the applicability of Service tax on legal firms has been duly notified or not ?
R_PVK
16 July 2009 at 14:48
Dear sir
My mother is likely to acquire a propery worth of Rs 39 lakh since she had filed for succession certificate after my uncles demise .The query to understand is that this property will be treated as gift? if so what will be the liable tax when the property sold today or a year after please give your expert advice
Regards
R_PVK
K. Sundar Rajan
15 July 2009 at 16:10
According to Supreme Court decision in respect of Lokshikshana case, "Education" means only what is taught in Schools and colleges and does not include any other form of education which helps an individual to manage his life better; which inculcate certain values for leading a stress free life and also which helps an individual to develop skills for inter personal relationship; communication etc and also Meditation and Yoga.
My query is whether such value based education which helps a personal to transform himself / herself is also "Education" and hence covered by Sec.2(15).
Can you please elucidate.
Guest
15 July 2009 at 14:57
Friends,
We have a seminar on SEZ Service tax issues. W would b thankful if u can provide any kind of useful material on the subject.
Guest
15 July 2009 at 12:24
CLICK THIS ONE:
http://economictimes.indiatimes.com/articleshow/4771601.cms
Nehal
13 July 2009 at 17:04
In case a Company buys back its Foreign Currency Convertible bonds at a discount to its face value, what is the accounting treatment, i.e. whether it is a capital gain or an income to be credited to P&L Account? If anyone has the accounts of any such transaction of a company, please provide that also or any such refrence material on nsnehalshah@gmail.com.
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Compensation taxable or not???
Mr. X had booked a flat in Ansal for which he had made payment of Rs 25 :Lacs as an entire amount as cost of acquisition of flat in Building No 6 of Ansal, the Ansal did not constructed the building and instead of allotting the flat in building no 6 instead of which he was allot ed flat in Building No 2 .This flat was not having the amenities as they were supposed to be in the original allotment.Aggrieved by this decision of Ansal he filed complaint in Consumer Court and after which court decided to give compensation of Rs 15 Lacs in favour of Mr. X against which Ansal filed an appeal the case then was mutually decided at a figure of Rs 10 Lacs.
To ascertain weather Rs 10 Lacs is taxable income of Mr. X and if it is under which head of income or this is an exempt income not chargeable to tax?