Sir,
One of my client is a Dental Doctor.He is entrusting the ceramic works to outside agency.He collects the charges for ceramics works from patients and make payments to the agency.
The query is how to treat the receipts and payments to these agency.
1. whether to treat the receipts as income and payments as expenditure; or
2. Is it correct to treat the receipts as receipt towards payment these agency ( not treating as income )?
Kindly clarify

While raising invoice for software items for which both VAT and service tax is applicable, do we need to calculate VAT on service Tax also?? Ex.

Goods Value Rs.100.00

AddService Tax 10.30

Sub total 110.30

Add: VAT 4% 4.41

Total Value 114.71

are the above mentioned calculations are Ok?

There is special rate (i.e. less than 1% in case of domestic air lines and 1.236% in case of international air lines) of service tax laibilty in case of Air Lines Travel Agent. This is what there are suppose to pay to government on receipt of air line tickets. But if talk about credit that is to be taken which is levied at 10.30% how much they can avail? Whether it is full 10.30% or lesser amount?

machinery was imported 10 years back without payment of custom duty under some exemption scheme...but due to some reason now it is required to pay the same.... do we need to capitalise it? if yes... depreciation should be calculated retrospectively or prospectively...pls clear this query as per accounts and income tax both...its urgent and if u can give the base for the same as i require to convince the client...

according income tax act 2008 just calculate the amount of tax for all the person.(individual, woman, senior citizen)
the inome is Rs. 8,00,000

reply fast

HI,
IT's A HUMBLE REQUEST TO SOLVE THIS QUESTION.

Q:- X of Kolkata sends out goods costing Rs 1,00,000 to Y of Delhi. 3/5 th of goods were sold by consignee for Rs 70,000. Commission 2% on sales plus 20% of gross sales less all commission exceeds cost price. The amount of commission will be :-

a)2833
b)2900


PLZ also explain after concluding.

there was an error in the quetion paper in q 5 b a value of cabinets that is the seeling price was given 16 but shoul have been 36 can any one tell me the implications of such an error by the institute

Dear Experts,
we are real estate developers, we are in process to give a work contract for electrical work for our residential project.
now contractor is asking for us don't issue me a two separate work order, one for supply and one for installation, contractor is saying just give me a one order and i will charge 10.30% service tax on only labour part.
now question is if we issue a one work order to contractor then as per contract rules which is common in real estate industry,we will deduct TDS & WCT form gross bill amount and contractor will claim 4.12% service tax as per composite method. then why contractor is asking that he will charge 10.30% service tax on labour part.

please suggest me what is the rules for particular contract.
which idea would be better for work as per income tax rules.


Thanks & Regards
Ravinder

I need help. As u r aware of the rule of restriction on transfer of articleship.
i took transfer before this rule came.
Though my previous boss given me transfer when he found i am not going to stay under him.
Now i am working else where, as few days back institute has given e mail ID for dummy article after that my previous boss contacted me & told me that he will launch a fake complain on this ID so that i will get hares and my time will get waisted and so that i cannot concentrate on studies.
Just to harres me as i took transfer from him. He is having my reg. no. too.
Pl tell me what to do.
Can he simply send my name to that ID without proof and institute will also not ask proof before approachong to me.

i completed my PCC in 08nov.my articles completes by nov2010.
all are saying a student of PCC can appear for final only after completion of articles.
But IPCC prospectus its given:
"A candidate shall be admitted to the final examination, if he has passed the Intermediate/
PE-II/PCC/IPCE, and has completed the practical training of 3 years or is serving last 6
months of his articled training on or before the last day of the month preceding the month
in which the examination is held."


when i write final exam???????