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R. Soumyanarayanan
23 October 2008 at 13:27

wealth tax

R. 14 (2)(c) of Schedule III to wealth tax Act reads as follows:

"the value of an asset not disclosed in the balance-sheet shall be taken to be the value determined in accordance with the provisions of this Schedule as applicable to that asset"


i cant contemplate an asset which is not disclosed in the Balance sheet.

can u help me? Please.

Another doubt:

S. 2 (ea) of the wealth tax Act defines the term asset. It is an exhaustive definition, since it uses the word 'means'.
Life interest is not covered there.

Then what is the need for R. 17 of Schedule III of wealth tax Act.

This rule talks about the procedure for valuation of life interest.

please provide me knowledge in these areas.

R.Soumyanarayanan FCA Grad CWA.

Durga Prasad Garaga
18 October 2008 at 12:59

Work Contractors Tax Calculations

Dear All,

please clearify me, if we are not bifercate materail what is tax calculation in Andhra Pradesh VAT & Service tax

Mail ID: durgaprasad@asterinfratek.com
Thanks & Regards

Durga Prasad

18 October 2008 at 09:06

tds certificate

I want tds certificate format


Can we consider FBT on below mentioned expenses.?

1) Employee Insurance.
2) Bonus
3) Relocation charges
4) Placement Services

Manish Doneria
20 September 2008 at 12:59

WCT on interstate sale !

We have manufactured and supplied acoustic enclosures for DG sets from Agra (U.P) to Bharatpur (Raj.) worth Rs.11,50,000 only on 30 July 2008 charging 2% CST against Form-C.

Now the buyer want to deduct 3% Works Contract Tax on the whole value from my payment.

My question is:
1.Whether is the deduction legally correct?
2.If yes than is there any procedure where we can claim any refund for the same?

Thanks in advance!

18 September 2008 at 11:33

deductions on purchase of a new house

Kindly tell that if a person who has been abroad on deputation for 3 years. And now after returning to India He wants to purchase a new House in Metro City...
How to Purchase the house to get maximum tax benefits and Wealth Tax Benefits????

17 September 2008 at 14:40

Entry tax payable or not

Dear all, pl.calrify
1.Entry Tax - import of machinery for the purpose of work executs-digging work (work contract co.) in karnataka, this is a capital goods, entry tax is payable or not
2. if payable this amount can be adjusted in vat payable .

my mail id is msvasu@asterrail.com

Durga Prasad Garaga
17 September 2008 at 10:56

Entry Tax Input

Dear All,

Please Clarify me,Entry tax take VAT input or not, if not take why?

Thanks & Regards
Durga Prasad Garaga

Durga Prasad Garaga
17 September 2008 at 10:32

Entry Tax

Dear All,

Please tell me, What is the Entry Tax?

& i bought one imported Machine to AP, But karanaka state collect entry tax is it correct please clearfy me.

Durga Prasad Garaga

11 September 2008 at 11:44

indirect tax

What are the Tax implications/applicable to a
a Mineral Water / Pacakged Drinking
Water manufacturing unit.

Answer Query