Hi,
Can any one suggest me best authors for each subject to follow, which would help me for self studies (PCC).

Dear Friends....

a private limited company is reimburshing the transport expenses of employess (from residence to office )

is it taxable in the hands employess

as Transport allowance is 800 P.M from I.T

and they are reimburshing more than 3000 Rs. P.M (except Transport Allowance)

we are payor for services received from USA company and we are paying royalty so at time of paying royalty do we need to reduce service tax from royalty ???(I donot mean TDS)
so is ther any DTAA agreement with USA for dedudtion of service tax on royalty paid??
please give me link of DTAA ..........

Dear Sir

Let's start with an e.g. Suppose there has been bill raised on M/s XYZ for providing service i.e. Service Charge Rs. 5000 and Service tax @10.30 (i.e. Rs.515)

Total billed amount Rs.5515

Question :- How it would appear in Books of Accounts on Accrual basis.

and if you are thinking of the following entry :

M/s XYZ Dr. Rs. 5515
TO Service Charges A/c Rs. 5000
To Service Tax Receivable/Payable Rs.515

By doing this, we booked service tax by that amount which we have not received actually.

But as we know service tax is payable on receipt basis and on the actually received amount. And suppose, M/s XYZ pays only Rs. 5000 as full n final settlement. Now we have to calculate Service tax back i.e. assuming service tax is included in Rs. 5000. and service tax comes to be Rs.Rs.467 instead of Rs.515

How this would be treated in books of accounts maintained on accrual basis of accounting.

Pls correct me.

Thanks in advance..

Raj

If a person getting pension from State Govt. for disability (100%), in which head this income will be taxed?

I am a resident and receiving salary income outside india and not remitting it to India, whether it will be taxable in India.
If I am getting salary in NRI Account of a bank of an India bank whether it will be treated that salary received outside India or in India.
How can I minimize my tax?

Hi,

Is this mandatory to provide payslips. If we don't issue the payslip to the employees, will this acquire any statutory compliane.

We do issue Form 16 for the staff annually and we get signatures for the salary credit in the register wherein the employees could be aware of the calculation.

If so, is it the task of an accounts team or hr. Kindly reply.

Regards
Samrat

Please inform me what will be the directors liability in a Pvt Ltd Company if company goes insolvent.

KIYOSH

Hi,
My Company have a foreign branch in USA. Whenever the invocie is booked in INR it has to be converted to the USD for the local reporting in USA. So at which date's Foreign Exchange Rate should be consider for the conversion. The conversion should be done on the invoice date or the date at which invoice is booked in the books.
Thanks,
Kailash

Dear Experts,
If any 1 can guide me on this.

If a manufacturer is selling a product to an excise exempted unit, but purchasing raw material by paying excise.

Is there any clause in Central Excise Act for getting modvat for manufacturer?

It ll be very appreciated if any1 can help