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Experts Query Daily Digest : 24 October 2014
Accounts

Posted by : shanker charan tripathi
Posted On : 10/24/2014 1:31:39 PM
Applicability of ind as in nov. 2016 exams
Can any one tell me whether Ind AS has been notified as applicable for Nov. 2016???
Thnx in advance
 
Posted by : aman
Posted On : 10/24/2014 1:29:02 PM
Deferred tax liability
Dear Experts,
First of all wish u a very happy diwali season...
My query is regarding AS-22
I have recently joined a company...company has its manufacturing unit in uttrakhand, thus enjoying the benefit of Sec 80IB under income tax act. Therefore, profits are exempt, but company is paying tax due to MAT provision...
Now since profit in books and income tax profit(due to mat) are same...does the company need to create DTL provision on timing difference of depretiation...auditor of company has made DTL provision..but i dont think company should make any provision..
Plz help
Thanks in advance..
 
Income Tax
Posted by : Tapash Kumar Biswas
Posted On : 10/24/2014 2:39:39 PM
Taxation on issue of bonus shares
I want to Issue Bonus Shares from Reserve & Surplus A/c.

Please advice the procedure of transfer of Shares and taxation effect including Rates of Taxes also.
 


Posted by : Anonymous
Posted On : 10/24/2014 1:45:17 PM
Interest and penality on tds deduction and filing of returns
Sir,

Please give full information regarding interest on TDS applicable in all cases and Interest and Penalty for late filing of TDS returns immediately without fail.
 


Posted by : Anonymous
Posted On : 10/24/2014 1:18:34 PM
Chargeable of interest u/s 234b and 234c
Sir, Please clarify the following issue: Assesse filed Income Tax Returns for Assessment Year 2014-15 in Form 4S for presumptive income declared u/s 44AD. He has also having House Property Income and Other Income also. He has paid self assessment tax of Rs25000/- and filed the return before due date i.e.31/07/2014. He has not paid any advance tax. Is he liable to pay advance tax u/s 44AD and he is liable to pay interest u/s 234B and 234C. In assessment order Income tax department send notice to pay interest u/s 234C. Return is filed with in due date i.e.31/07/2014. Please give reply the assessment order is justified. If not justified what steps to take to against order passed. Please give the solution for the above issue and give reply immediately with out fail
 
Posted by : ARAVIND
Posted On : 10/24/2014 12:59:13 PM
Detailed info required abt section 194 ia
when TDShas to be deducted for purchase of property?? If the sale value of property is 60L and we are paying it in installments, when TDs has to be made? If we are buying a flat under construction, when the TDS has to be deducted?? If we are taking loan from the bank, who is responsible to deduct tax?
 

Posted by : Geshman
Posted On : 10/24/2014 12:40:10 PM
Amount paid as per cestat final order
Sir,

An amount paid as per CESTAT Final Order & AC Division V Letter towards interest on price variation. ( included in
Duties & Taxes )

Whether this amount is allowable as a deduction in profit & Loss A/c? (Give me some section to refer)
 
Posted by : vikas
Posted On : 10/24/2014 12:31:00 PM
80e
as per section 80E interest on education loan. can assessee take the exemption on interest on loan taken on foreign education loan LIKE LOAN taken on GLOBAL BUSINESS MANAGEMENT
 


Posted by : Anonymous
Posted On : 10/24/2014 10:42:43 AM
Return
D/Sir,
I am a government service working as a lecture in a college. I got deduction of tax from my pay. and i had deposited FD in the bank. My question is that which ITR will I use to the return?

Your

B.M
 

Posted by : Abhishek Kumar
Posted On : 10/24/2014 7:29:56 AM
Roc filing
what are the procedure in case of filing of ROC and what are its forms and its purpose?
 
VAT
Posted by : Jiten
Posted On : 10/24/2014 12:30:48 PM
Vat input
purchase(tax invoice) in delhi, goods exported ,how to make accounting?
 

Posted by : umesh chauhan
Posted On : 10/24/2014 10:41:11 AM
Dvat return e-filing
can anybody provide me the step of dvat return filing.?
 


Posted by : Anonymous
Posted On : 10/24/2014 10:38:58 AM
M-vat rate of interest on late payment of tax
Dear sir,

I want to know the rate of interest on late payment of M-vat. How to calculate days for interest calculation.? please reply.
 
Service Tax


Posted by : Anonymous
Posted On : 10/24/2014 1:50:00 PM
Reverse calculation in service tax.
Sir,

What is meaning of reverse calculation and Please give details of reverse calculation of service tax.
 


Posted by : Anonymous
Posted On : 10/24/2014 1:49:37 PM
Service tax applicable rate
Please let me know the Service Tax rate for Video production agency/video tape production service.
 


Posted by : Anonymous
Posted On : 10/24/2014 9:35:58 AM
Issue of credit note and service tax implication
Dear sir,
if we raised invoice on "A Ltd" for 100L (service tax 12.36L) date of invoice is 30.09.14 and work completion date is 01.09.14 .service tax liability of 12.36L not yet paid. if we issue credit note to "A ltd" for 10L (service tax 1.236 L) on 10.10.14. Can we deduct credit note portion of service tax 1.236L from output service tax liability of 12.36 L and balance amount of 11.124 L(12.36-1.236) can paid by utilising cenvat credit along with interest?

for this purpose prior intimation to dept is necessary? what are supportings need to maintain?
 
Posted by : Venkatasai
Posted On : 10/24/2014 1:02:58 AM
Service tax on hamali charges
We are a partnership firm and transport agency we debit our profit and loss acct with hamali charges as expense.are we liable to pay service tax,and what rate of service tax please tell me.thanks in advance......
 
Corporate Law


Posted by : Anonymous
Posted On : 10/24/2014 2:33:29 PM
About roc
what are the yearly filling form to private limited company as per new act 2013
 
Posted by : Rakesh
Posted On : 10/24/2014 11:47:18 AM
Prescribed fees - urgent
Companies Act 2013 – Urgent
Respected Experts,
Could you please provide me the extract for company registration process and cost that I may incur in each of the process..
Thanks in Advance,
Rakesh
 
Others
Posted by : balkrishna kamuni
Posted On : 10/24/2014 12:27:01 PM
Sm
"Enterprises pursue multiple objective rather than a single objective" comment on it.
 
Posted by : Rahul Khatter
Posted On : 10/24/2014 11:06:29 AM
Regarding advanced itt
Dear sir
As per the icai announcement advanced itt is compulsory before eligible for final attempt of ca final

As I am registered with icai from 10-03-12 as it is applicable in my case plz tell me and my article ship will be over by end of September 2014 becouse of excees leave


Regards
Rahul khatter
 
Excise

Posted by : Tarun Sharma
Posted On : 10/24/2014 1:27:21 PM
Excise return hard copies
is it necessary to submit hard copies of online filled return of monthly excise yo the department??????? please help
 
Posted by : Sudha.S
Posted On : 10/24/2014 12:30:09 PM
Bought out goods
what exactly does bought out goods mean? and Why is dharmada taken in the valuation of excisable goods?
 

Posted by : Aravind Kumar
Posted On : 10/24/2014 12:46:48 AM
Canvat
we want process of cenvat
 
Exams


Posted by : Anonymous
Posted On : 10/24/2014 2:06:52 PM
Exam centres
Kindly provide names of exam centres in the following cities where CA final exams are normally held;
1.Panvel
2.Satara
3.Pimpri Chinchwad
4.Pune
5.Kolhapur
6.Bharuch
7.Nashik

 


Posted by : Anonymous
Posted On : 10/24/2014 1:54:17 PM
Exam centres
Kindly provide names of exam centres in the following cities where CA final exams are normally held;

1.Panvel
2.Satara
3.Pimpri Chinchwad
4.Pune
5.Kolhapur
6.Bharuch
7.Nashik
 
LAW
Posted by : narendra kancharla
Posted On : 10/24/2014 1:42:30 PM
Corporate and allied laws
hi friends,
can anyone say where i can get new practice manual of law applicable for november 2014 exam containing companies act 2013.
 


Posted by : Anonymous
Posted On : 10/24/2014 12:02:05 PM
Appointment of auditor
plz explain section 139 appointment of auditor with example. i am confused regardig appointment of auditor for 5 consecutive years.
 


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