My client is running a chit fund, he collects Rs 2000/- every month (60 months) from each member, and conducts a draw every month, the person who wins gets a prise money, at the end of the period, all the members will be alloted a plot of land each. ( developed with basic eminities like roads and water supply)
what will be the tax implications...at the time of collection of money and later on Pls guide.

Dear experts,

I'm a recently qualified chartered accountant. I want to start practice and to be excel in Indirect Taxes.

Will u please suggest me that how to become excel in Indirect Taxes area?

Regards
Puja.

I have registered my self for Final Examination on Exam portal yesterday but not received my user id and password after 24 hours of registration.


Please help me what should i do next?

Whether it is allowable to fill the income tax return for F.Y. 10-11, because it is time barred. But I heard about notification specially allowing to file the Income tax return for the certain period, though it is 'time barred'

Please answer the query, Thanks in advance.

my assesse has given me tax audit 44 ad case of a.y 2012-13 now .what will b the penalty and what will be the best way to show 8% or audit

Please post some past papers fr advanced accounting of ipcc group-2 with answer sheets as per applicable in nov'13.
Any can any1 tell whether practice manual is enough for Audit & IT/SM? or any other notes required? pls suggest


Urgent reply required.

WE HAVE PURCHASE SOME MATERIAL THROUGH INDIGENOUS UNDER CT3 PROCEDURE BUT NOW WE DECIDE TO RETURN THE SAME TO MANUFACTURER. ANY BODY HAVING EXACT NOTIFICATION REGARDING THE PURCHASE RETURN OF EXCISEABLE GOODS AS WELL AS WHAT IS THE PROCEDURE FOR THE ABOVE RETURN TRANSACTION? PLEASE CLARIFY.

sir, my articleship started on 9.08.2012.I want to know my final attempt due.

Dear sirs,

My query is similar to the thread posted on this site before:

https://www.caclubindia.com/experts/default.asp

This query was answered by site expert Ramesh Kumar Verma.

I would like to know the current duty structure for solar water heater evacuated tubes from China. My company will be importing these tubes from China and selling complete solar water heaters in India.

There are two classifications on CBEC website for "Parts of instantaneous or storage water heater": 8419 90 10 for "domestic" and 8419 90 90 for "other". Domestic has BCD 10% and Other has 7.5%.

What is the difference between "Domestic" and "Other"? Which is the correct BCD that applies in my scenario?

dear Sir,

we have temporarily imported one unit (charcolation system) from our supplier which is in France for trial purpose to our client. now material is lying in our factory premises and we want to move it to our 2/3 client for trial purpose. after completion of trial we exported this unit to the france.

can you explain me how i maintain the records and on which basis i will remove the units to the customer as per central excise rule.

Our factory is manufacturing unit.