We have been buying Personal Protective Equipment (PPE) and other safety related items like fire extinguishers, safety shoes, spectacles, tyre protection chasis etc.against concessional sales tax of 2% for use in the plant. Please inform whether we can issue form C for the purchases or shall we have to pay the differential tax to the vendors.

In the absence of Form-16-A, how to know that the TDS deducted by debtors from us is remitted into central goventment account. Of course, we have their TAN numbers.

Advance thanks for clarifn.

Whether preferential recovery of statutory dues in case of loss making company is correct.
For e.g.:-
A company has made loss in any particular year. They have deposited excise duty @ Rs. 200 pt. in advance.

Cost of Production Rs. 800 pt
Excise Rs. 200 pt

Total Cost Rs.1000 pt

But they have recovered only Rs. 700 pt for these goods from consumers.


Therefore company has claimed refund of excise duty from Government but they have rejected company’s claim.
Contention of the company is that even they have not recovered cost of production from these goods so how can they recover Excise duty from consumers.
Whether the contention is correct or not, if your opinion is in our favour of the company then please suggest the valid grounds for this and if mentioned in law then please provide
details.

if company had incurred losses in previous year then whether it will declared dividend from current year profit directly or after set off previous year losses, please tell me in detail.............

As per circular, the time limit for submission o Form "F" underr CST Act is by end of next quarter. If the dealer fails to submit and also not requested for extension of time limit.
What will be the panalty if any?
Thanks,
Ratan Lal Sharma
Indo Gulf Fertilisers

1. What is the Procedure to enroll for GMCS with ICAI & College which conducts GMCS ?

2. What are the Fees thereof ?

Regards,

Query No.:1

Pl clarify the rate of FBT for the following expenses

1. Travel Fare (Bus/Train/Air)
2. Conveyance (usage of Taxi/Auto/2 wheeler)
3. Boarding & lodging - reimbursement or fixed allowance

Query No.2
Whether usage of Taxi or Auto can be ocnsidered as Travel Fare?

I have to file revised return PY 2006-07 earlier fvu file was generated and filed thru NSDL intermediariers.
1.What is the way to get fvu file thru direct form NSDL ?
2.Is form 27A will also genrate and file along with Correct FVU file.

Can someone guide me about the housing loan interest deduction:
In case of joint holder of a house property, Can both holder are intilteled to claim deduction in proportionate basis or they can claim Rs. 150000 deduction on individual basis?

Thanks,
CA Abhishek Jain

When allowability under section 36(1)(va) is not permissible.i.e. when deduction of employees contribution is not permissible to be allowed.Is it if the payment is made after the due date under the relevant law.Is there any grace period allowed under the relevant law after 20 days of the following month and if allowed,is it considered under income tax law.