1. IS BOOKS OF ACCOUNTS MAINTAINED IN MANNUAL SYSTEM DUE TO SOFTWARE CORRUPTION WERE ASSUMED IT WAS MAINTAINED AS MENTIONED IN 44AA.
2. IS BOOKS MAINTAINED IN MANNUAL BASIS ACCEPTABLE BEFORE IT DEPARTMENTAL AUTHORITIES.
3. IS THEIR ANY CASE LAW TO SUPPORT THE SITUATION:
A HAS MAINTAINED BOOKS OF ACCOUNTS FOR 5 DAYS DUE TO SOFTWARE CORUPTION. IN MINE TIME DEPT. EXECUTES 132 AND FOUND SOME CASH IN PREMISES OF A. DEPT. ASSUME THIS AMT AS UNDISCLOSED MONEY. A STATE THIS AMT. WERE ACCOUNT FOR IN MANNUAL SYSTEM. BUT DEPT. DENY THIS STATEMENT ON GROUND THAT A HAS NOT MAINTAIN BOOKS IN NORMAL COURSE OF BUSINESS.
PLEASE SUGGEST SUPPORTIVE CASE LAWS...
What is Reverse Charge Mechanism?
Answer:Generally service tax is payable by the service provider.But under reverse charge the service tax is paid either solely by the service receiver or by both i.e. the service provider and the service receiver.Section 68(2) says that in respect of specified services(specified by notification 30/2012) service tax shall be paid by the service receiver at rates prescribed by Section 66 i.e @ 12.36%.
Is it necessary for service receiver to register under Service Tax?
Answer:Yes ,as per Section 69 every person who is liable to pay service tax shall register themselves with the service tax authority.As service receivers are liable to pay service tax they are required to get registered also.
Can Service receiver claim the Small Service Provider Exemption?
Answer:No,the service receiver cannot take the SSp exemption as the same is available only to service providers and not to service receivers.Also Notification 33/2012 supports the same.
If the Service Provider is a SSp,then also is service receiver liable to pay service tax?
Answer:Yes,the liability of service receiver is independent from that of service provider.Even if the service receiver doesnot charge the service tax in its bill, the service receiver has to pay service tax if the specified service falls underReverse charge.
When does the service receiver liability arises?
Answer:As per Rule 7 of Point Of Taxation Rules 2011,point of taxation in case of service receiver shall be the date on which of payment is made to service provider.
When is service tax required to be paid?
Answer:As per Rule 6 of Service Tax Rules ,1994 Service tax is required to be paid by 6th of the day of the month immediately following the month in which the liability arises,if duty is deposited electronically otherwise 5th of the month.
Can service receiver adjust the cenvat credit while paying service tax under reverse charge?
Answer:No, as the explanation to the Cenvat Credit Rules 3(4) cenvat credit cannot be used for payment of Service tax in respect of services where the person liable to pay is the service receiver.
I have purchased a second house in this fy . The loan is also been sanctioned this year itself. Is the stamp and registration fees paid to govt exempted from taxable income and under what rule.
What is the limit of tax exemption for interest paid for home loan for second house when first property is let out and declared as income from house property.
Whether interest income earned on nationalized bank in addition to the normal business profit of a co-op credit society is exempt or not.
1)Interest income from Dena Bank on SB Account is exempt or not.Please reply early
Dear professional
Please provide me procedure of registration of copyright in india,
I required it very urgently
Thanking you
CS Trainee Lalit Modi
One property owned by HUF is rented out & paying service tax regularly. Pursuant to complete partition of HUF, the said property has come to the share of two individuals. The property continues to be rented to same tenant.
The Question is whether the basic exemption of Rs. 10 lacs shall be permissble to two individuals or they shall have to continue charging & paying service tax
i have got in AT test if Disa 141/200, highest 182 so 75 % of 182 is 136.5 but i am fail.Any one give me reason for this.
Dear Sirs,
Are there any changes in the procedure of allotment as per companies Act 2013. and actually I have gone through the form under chapter III and I had found mismatch between Form 2 available in MCA portal and Form 3.3 mentioned in the Draft rules. I want a detailed explanation regarding allotment procedure and why in the draft rules form no is mentioned as 3.3, is there any difference between form 2 and form 3.3. Hope experts make my thoughts and questions clear
if a pf is paid freight but tds is not to be deducted as pan no. is available. whether pf is required to obtain tan no. and file tds return.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Entry tax