Composit Tax

In My Company we have some Contract for which we have to Tax Optimisation wheather Sud we Opt Composit Taax scement or Normal Sales and Supply Scheme.
How i can do tax Optimisation ?

Wheather with the Contract some Free issue material supplied to the vendor what will be Tax Applicability on that in the Botha sceme?

Currenly while Doing Tax Optimisation I consider folliwnf Facts :

Rates of Taxes
Cenvat Credit of VAT and Service Tax - ( For this i am not aware about the Rules Please Brief me )
Tax Applicability on Free Issue Material

wheather any other FActs are also Required then Please do let me Know .

Please Help ?

xport

Dear Friends
We are first time export TMT.
We purchases the same from our sister concern.

1. We issue a purchases order to sister concern indicating the material for Export.
Now it generate bill to us as normal
Que. Does any change required in its invoice.

2. We export under rule 18. And claim Rebate.
We issue an ARE-1
And issue an invoice under rule 11.
Que. Does any other formality is required for this purpose.

From where we can get more information “ how to Export”

INCOMPETENCE

WHO IS INCOMPETENT TO CONTRACT- A PERSON WHO IS OF A SOUND MIND AND AT TIMES BECOMES LUNATIC OR A LUNATIC PERSON WHO AT INTERVALS BECOMES NORMAL(SOUND MIND)???

circular for charging fees on Co-operative societies in Maha

Dear Sir,

Can anyone give me the circular for charging Audit fees on Co-operative societies in Maharashtra.

Thanks in Advance

Regards
Santosh Gupta

applicability of deduction under section 80IA(12A)

Dear sir,
I m confused between the section 80IA(12)and sec 80IA(12A).
my question is ,"If A and B company is getting merged after 1/4/2007 A is taking over B n both companies is claiming deduction under section 80IA than as per sec 80IA(12A) A co. can't claim deduction for both co.'s , bt can A co. claim deduction of his own profit???" i mean can A claim deduction u/s 80IA for his own profit for the unexpired period?? pls me out!!

Profit on Sale of Vehicle

Dear Sir

Our Company is Sold a car As per Companies Act It is Showing A Profit of 167500 we are Charged to P& L Account. Now My Question is The same Profit is Deductible Or Not for in the Computation Of Tax Please Guide Very Urgent

Thanks & Regards

Sreenatha Reddy

Mvat for interior Decorator.

Hi I need expert advice on the following:

I am an Interior Decorator (Making & Repairing furniture items and others). I am registered in MVat. My work involves supply of material & Labour (mostly furniture items). I used to charge vat @ 12.5% but now the party refuses to pay Vat on labour. It now possible to exactly bifurcate between sale value of material and labour charged as even small repairs works involves some materials (nails, screws, handle).

I am not registered in Service Tax as I am not liable.

(1) How should I charge Mvat Tax?

(2) Is there a standard ratio in which I should charge vat on the total Invoice value?

44ab

a doctor have a salary income of 6 lakhs and professional income of 7 lakhs ,whether he has to do tax audit.

Submission of TDS certificate

We are in the business wherein we have to pay the huge sums to the vendors like terminals and depots in advance for various services availed. There is one depot to whom we make advance & adhoc payment in full and account TDS on expense entry as at the time of payment we do not know the value of the type of the servie so as to deduct the TDS on payment. Thus this in turn results in recovery of TDS amount from the vendor. Now what is happened is couple of entries are showing unbooked or match not pending on TIN-NSDL site. The vendor is not accepting TDS certificate itself giving above reasons. Can vendor do that?? Actually we are in the process of sort this out with the Bank.
Pls advice

IFRS IAS 16 PPE & ED -10

Major Spares with useful life> 1 year
To be Capitalisaed and depreciated.

When would Capitalisation & Depreciation commence ... as soon as it comes to Inventory?

How would Depreciation be computed ... based on Shelf Life of spare ... or residual life of main asset?

If a major spare can be used in specific plant ... but there are 3 identical plants in the entity ... will it still be a plant specific spare?

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