shortage and damaged goods under which account it comes in Profit And Loss Account

Dear Experts,

I request your guidance and advise for my following query please.

'H Ltd', an Indian Company, importing a service from 'F Inc', an USA Company. For this service, 'F Inc' is raising invoice month wisely in the name of 'H Ltd' in USD.

Up to FY 2012-13, 'H Ltd' has settled the bill amount through Indian Banking after adding Service tax for import of service and deduct TDS after grossing up to the extent of bill amount with service tax and produce Form 15 CB and 15 CA to the Bank as per Indian Banking Regulations to complete the payment process.

'H Ltd' is a holding company of 'S Inc', an USA company.

From Apr-2013, 'H Ltd' has decided to settle the bill of 'F Inc' by way of Corporate Credit Card of 'S Inc' in order to avoid...
(a) Form 15 CB and 15 CA;
(b) Audit Fees for (a);
(c) Service tax for import of Service; and (d) TDS.

May I request your kind advise the payment process of 'H Ltd' from April-2013 is correct in law and may I know is it not need to deposit Service tax and TDS, only because of the way of payment done i.e. by way of Corporate Credit Card of 'S Inc', even though the bill is in the name of 'H Ltd'?

Thank you in advance please.

My friend got a compensation from NH for loose his land and building. The land and building is his ancestral property. It was constructed in 1960-65 may be. It's cost around 1,30,000/-. NH demolished it in Jan'2011 and compensation gave Rs.11,25,000/- for it.

Please help me to calculate capital gains with reputed deductions and also guide me how to get refund the TDS amount because TDS certificate issued by NH authorities now only.

My grandfather acquired property and constructed residential house in 1959-60. My grandfather passed away on 31-12-1999. My father passed away on 03-07-2008. Both of them died intestate. I wish to sell the property now.

1. Can I take the fair market value as on 1st April 1981 as the cost of acquistion?

2. Can I apply indexation to cost of acquisition under Section 48 Explanation (iii)?

3. If I can apply indexation, which index will apply in relation to date of transfer - 1981-82, 1999-2000 (my grandfather's death) or 2008-2009 (my father's death which is when technically the property was inherited by me and therefore the first year in which the asset was held by me.)?

Will be grateful for expert advice.

Sir,

I have issued cheque to ABC party and also passed Payment Entry in Tally, but transaction could not place, and same cheque party send us back. Now my question is that whether I delete this entry or any other option to make reverse entry?
Regards,
Pravin.

An Individual Advocate is providing his services to a business entity having turnover exceeding Rs. 10 Lacs. Whether he is required to get himself registered under service tax. Pl. answer after considering Notification No. 25/2012 & 30/2012.

hi can any1 suggest me some mid size ca firms in chennai near purasawalkam, ayanavaram,mylapore,mandaveli

Upgradation of computer software and purchase of computer software are treated as fixed asset or revenue expenditure under finance act,2012?????

Whether Interest on CST allowable under Sec.40(a) or not?

Housing/Resident welfare societies are taXed as AOP.
can any body share their exp./KNOWLEDGE-- on income taxation of an AOP ?.
i know AOP is taxed as an individual only. but it is taxed at the highest rate of tax slab like 30%? ,BECAUSE -i find under IT sec 167 B-if share of members in AOP is indeterminate- then only highest marginal rate of tax is applicable to AOP ie..30%.
so ANY res.welfare society being AOP is also taxed at highest rate of tax slab applicable to individuals.
did any res.welfare society experience this? pl. share how u r fighting the same AND WHAT R YOUR GROUNDS OF DEFENCE if any?or confirm that u already paid tax @30%?
what ITR form no.is filed by Res.Welfare society? ITR4 OR ITR5?
DOES THE ITR FORM NO. MAKE ANY DIFFERENCE?
PL. REPLY .WAITING TO HEAR SOON.
RGRDS AND THNKS,
R.V.RAO mail id - raovr2001@yahoo.com
9849436267 (MOBILE)