notification no 102/2007, dt 14/09/2007.
How can i get the refund benefit of add duty of customs for the manufacturer Industrious.

Will there be any impact due to the company received cash Rs.100000/- for allotment of shares ? Thanks for your response.

Seller gives invoice to party in this form:

Sale of 100Kg goods @ 20 = 2000
VAT @12.5% = 250

Total = 2250

But actual receipt to Buyer is 95 Kg of goods. So which of following entries Buyer shd pass entry for this:

a)Purchase 2000
Vat Input 250
To Seller 2250 &

Seller A/c Dr 112
To Dis Recd 112
(in this case VAT credit is taken for full)

or
b) Purchase A/c Dr 1900 (95*20)
VAT Input A/c Dr 237
To Seller A/c 2137
(Here VAT input has been taken proportionately)

So which of A or B will be correct method?

Is it mandatory to deduct the Tax (TDS) in case where

1) the assesse is a partnership firm and having turnover below 40 lakhs

2) in case the assesse is a partnership firm, having turover below 40 lakhs and the assesse is opting presumptive tax under Sec.44 AD (Deemed profit @ 8% of turnover)

is Bank interest on FD/ Savings account exempt from Tax?

Dear all,
I would like to ask a question on filing of an Income Tax Retrun for A.Y 2008-09 of the firm which has obtained its PAN in the month of March 2009.... The firm was originally established on 10th March 2007 with 2 partners signed a Partnership Deed. However, It has not applied for PAN and on 03.03.09 admission of 2 partners was made vide a New partnership Deed. The Firm has applied for PAN submitting new Deed...Now the Firm wants to get registerd.
Is it possible for a firm to File Income Tax Return for A.Y 2008-09 or is there any option to extend Accounting year from 10.03.07 to 31.03.09 so that an ITR can be filed for the said period?
Kindly guide me for the aforesaid query...
Thanks
Padmanabh

My client takes SCAFFLODING on lease.

we deduct TDS U/S 194C on hire charges.
but in my opinion as per amended defination of rent as per explanation (i) to section 194I.

TDS must be deducted u/s 194I.
Please suggest me and specify rate for TDS.

THANKS

If a company pays Wages in Cash to its workers totalling Rs 100000/- in a single day but not single person gets more than Rs 20000/-. Will this expense be allowed or not? What if Company first transfers the amt to one of its staff as Imperest to Staff and then salary payment entry is routed through his Imperest A/c?

A company pays salary to its staff(1 person) amounting more than Rs 20000 in cash. Will this amt be allowed as Business exp or not?

What if company pays salary to a person via bearer cheque for an amt more that 20000/-

Can anyone please advice whether Service Tax is applicable on an Institute which is affiliated to a University but does not have AICTE approval.

Thank you.