Basic limit
This query is : Resolved
15 July 2013
I want to go for VCES scheme for my client as recently declared by government from 01.10.2007 to 31.12.2012. Taxable Service provided in 2007 - 2008 Rs. 5,00,000 /- entire year. 2008 - 2009 upto 7th bills Rs. 9,00,000 /- but 8th bill Rs. 3,00,000 /-. Means crossed 10 lacs by 8th bill.
My querry
1. Should one claim basic limit of Rs. 10 lac ? 8th bill of Rs. 3,00,000 /- is taxable ? Should I pay tax on Rs. 3,00,000 /- or is it exempt ? Can anyone please clarify the same ?
2. what about SERVICE TAX from 01.01.2013. They are ready. It is taxable. Should one pay ST alongwith interest from 01.01.2013 to 30.06.2013 first & then go for VCES or vice versa ? ST No. got by them.
My querry
1. Should one claim basic limit of Rs. 10 lac ? 8th bill of Rs. 3,00,000 /- is taxable ? Should I pay tax on Rs. 3,00,000 /- or is it exempt ? Can anyone please clarify the same ?
2. what about SERVICE TAX from 01.01.2013. They are ready. It is taxable. Should one pay ST alongwith interest from 01.01.2013 to 30.06.2013 first & then go for VCES or vice versa ? ST No. got by them.
17 July 2013
Yes you should claim SSP exemption n full amount of rs 300000 is taxable. In regard to liable from 1.03.2013 you have to pay tax along with interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
