My query is whether profession tax is to be deducted from a CA Article student on his stipend if it exceed Rs.8000.

Thanking You

assessee maintaining proper day book but not maintaining subsidiary ledger ,can the assessing officer on this ground reject books of accounts?

Sir,

My client is Doctor and he file his return regaurlary with payment of nominal amount of tax around Rs.200-500. Duuring the Financial year 2006-07 his Income below taxable. On that basis he would not like to file return in future.

pls advise me what will do for stop filing of return in future.


Regards,

Baljinder Singh

Conveyance Reimbursement comes under the ambit of FBT, but for employee it requires submission of bills, what if emloyee could not able to provide entire conveyance reimbursement bill which is paid as CTC to him , which is included as a Part of salary on which employee also has to pay Income Tax`on that @ 30%. & Co. pays FBT around 7% simultaneously. this is double tax on emloyer & employee.

what could be the alternative of this.

NO the concept is that this is double taxability eother in the hand of employer or employee.

take the eg of Superannuation of more than rs 1 lacs FBt is leveied on this as well as it is taxable in the hands of employee.

Review has to be done by us on this ground

Regards,

vivek gangwal

In Gujarat, this time VAT Audit is required for those whose turnover exceeds Rs.1 crore, in that situation, we came to know that when one concern passes thru two audit under a year then it requires 3CA reports instead of 3CB under Tax Audit. Is it right ? If not , then when and where 3CA is applicable ?

Sir,
I am doing Tax Audit for a realty development company. The company had made adhoc provisions on 31.03.2007 for various expenses to be incurred in subsequent months for the various running projects, but the client has not credited TDS account for the liabilites created.

The client is reversing the provision account on 1.04.2007 and then subsequently on the receipt of the bills for various expenses, is booking the expenses and TDS account. The client is taking the stand that for the expenses booked before 31.05.2007, it has booked TDS and paid the same before due date and has filed TDS return.and as the liability was provided before 31.03.2007 (which is aggregate of the creditor and TDS account,but the TDS account was not hit),
the client is liable to claim the expenses for tax purposes.
Should the expenses which are credited during the period 1.04.2007 to 31.05.2007 be allowed or disallowed for the computation of Tax.

Please guide me for the same


Regards

Ankur Jain

Dear Sir
I am working as a finance/ Admin Officer in a Liaison office of a Hongkong Based Company.
My job profiles is as below.

1. Payroll is outsourced to our CA firm.
My job is to provide them data(Inputs & Investments etc) only in the end of each month to process salary,then transfer the salary to bank.
Prepare TDS/PF cheques and send them to CA firm.
2.To Keep HR Records.
3.To Update shipment record in a customised software.
4.To reconcile bank at the end of each month to generate report to our HKG office.

We Maintain accounts in Receipt & Payments Basis.

Please advise what else is there to learn in a Liaison office (LO),How can I make progress.


Regards

Puran Dangwal

My query relates to FBT.
If company incurrs any expenditure on Conveyance of customer will it be liable to FBT.

Wether TDS is applicable for the Subscription?

If it is applicable on what % basis & if it is limit amount is their

The company had made export of raw cotton waste during the year. whether the co is liable to collect tax at source on same..