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vandana
09 April 2008 at 15:23

liability

If in the previous year the assessee was subject to service tax liability(8lacs) & paid the taxes but in the current year his income is below the threshhold limit(below 10lacs), will he have to file the returns and deposit the taxes?


O.P.SHARMA
09 April 2008 at 15:05

TDS deposited in wrong TAN

Dear Experts,

We have wrongly deposited in Wrong TAN for the month of April -07,

How can it be rectified.

OPS


Milind Hardikar
09 April 2008 at 15:04

Status under Income Tax Act

Ours is a laision / Representation ofice of a foreign social service organisation. Our office is recognised as Coordination Office (Coof)

We have obtained permission from RBI U/s 29 of FERA in 1994 to open this office. Rules prevent us from doing any business activity and we cannot earn any income.

Our amin activity is to accept propols for grants and forward these proposals to our parent organisation for approval. parent organisation has a bank account in India and the amount approved is transferred to partner organisations for development activities.

To manage the expenses of Coof amount as and when required is transferred from parent organisations bank a/c to coof a/c and from withdrawals from coof india bank account all the expenses are met. Accounting year of Coof is from Jan to Dec (In line with parent organisation)

Now I want to ask following questions...
1. Income tax status of Coof Office
2. Is it mandatory to file IT return
3. We are monitoring the grants but what can be done for TDS from the payments made from parent organisation's bank a/c?
4. For coof we are deducting TDS from salary.
5. A general question : Is it compulsory for us to register laision office with FEMA (Now FERA is gone) or our registration has an automatic transfer from FERA to FEMA?

If somebody truly research this case and provide us a legal opinion in writting we are ready to pay the professional fees. If needed we can provide additional information.

Please advice.

Milind


balasundaram

dear sir/madam

A) may i receive the form 15H for Sub contract payments

B) we have been paid the

1.Crane Hire charges

2.generator hire charges

3. Trailer (heavy goods vehicle) Hire charges
4. Compressor hire charges

what is the TDS rate and covered under which catagiri (eighter machinery hire charges or Transport charge or otherwise)

with regards
Balu


Jagdish Prasad Vyas

Dear sir,
We have allotted the work of Tax audit and to sign report under Form 3CA & 3CD by bank
The bank official have requesed us to give Tax audit report up to 5.4.2008, while we have to mention details regarding T.D.S. and Form No. 15G/15H which could be deposited up to 7.4.2008
Whether after obtaining a certificate from branch manager, he is fulfilling all statutory liabilities timely we can sign Tax audit report .
What note we should give in the Colum No. 27(b) of the Form No. 3CD of the Tax audit report.


C.A Alok Mukherjee

My Client is a printer who gets the order from the publisher for the printing of books and forms. They purchase papers, ink etc. as their input materials and provide the labour and other services for the printing jobs. They are not liable for Excise Duty since they are not manufacturer. They paid Local VAT on supply of paper i.e on theirsupply of material. They are not paying any service tax since in Business Auxilary service there is an exemption. Now, since from 01.06.2007, Work Contract Tax is brought into effect, will their activity in relation to supply of survice will be taxable under work contract? If "YES" on what basis? If "No" why not?


C.A Alok Mukherjee

My Client is a printer who gets the order from the publisher for the printing of books and forms. They purchase papers, ink etc. as their input materials and provide the labour and other services for the printing jobs. They are not liable for Excise Duty since they are not manufacturer. They paid Local VAT on supply of paper i.e on theirsupply of material. They are not paying any service tax since in Business Auxilary service there is an exemption. Now, since from 01.06.2007, Work Contract Tax is brought into effect, will their activity in relation to supply of survice will be taxable under work contract? If "YES" on what basis? If "No" why not?


A Ramanathan
09 April 2008 at 13:52

Annual TDS Return

Can anyone confirm if it is mandatory to file Annual TDS Return if you are filing Quarterly TDS Return and if yes please explain the procedure for filing Annual TDS Return ( FORM 24 & 26 ).

Also tell me the due date for filing the Annual Return?


Sarvesh Mani Tiwari,CFA(ICFAI)
09 April 2008 at 13:44

Tax Invoice insted of Retail Invoice

what is the consequency,if Company issue Tax Invoice insted of Retail Invoice ?


Ghuliani

A company which is presently under BIFR and deducting and contributing @10% of applicable salary for their employees on rolls by virtue of being Sick and under BIFR doing Job work and producing finished product in the name of other manufactureres, has arranged for providing LABOUR in the factory with a Cooperative society formed by the very same labourors.
The society has been selected by the process of tendering and negotitation in the past. This society, as per the terms was billing to the Company for the Labour supplied based on the Minimum Wages as applicable (inclusive of add ons such as HRA, DA etc)PLUS 2.69% as SERVICE CHARGES thereon on monthly basis.
Till now Coop. was deducting and contributing the PF from their employees in the company's PF Trust Account. However recently a new tender was floated by the company wherein it was also stated that all the bidder to the tender should have their own seperate registration under PF Act.
The cooperative which is the successful bidder had the " PF applied for" status but no number till date and they are insisting that they be allowed to deposit the PF deduction in Company's PF Trust Account.
The question which arise Now is

1) Can the cooperative Socity which is supplying over 400 persons on regular basis to the company and charging for their services on commercial basis can deposit the the PF deduction in the Co PF Trust Account without having and pursuing for their own Estt. Code under PF.

2) If yes, then what are the consequences for the company as Principal Employer at any point of time.
If No, what are the alternatives available to the company so that company should not be held responsible for these contracted persons in any way any point of time?

3) Whether the position will be different in case if the contractor supplying the labour was a different entity earlier and workers formed the Coop later on and bagged the contract as above. However in any case the individual workers were the same through out irrespective of the contractor status whether Coop or otherwise and their contribution of PF was going to their same individual account with the company under the same Estt. code. In short despite the change in status of the contractor individual's account number and Estt code remained the same without any change.


Please Clarify. If possible reply may please be sent to following email as well
ghuliani@gmail.com
Thanks
Ghuliani