CA. Jaimin Jayesh Sheth

My father wants to become First Stage Dealer. How can my father issue invoice to purchaser so that he can avail CENVAT Credit and also the gross margin of the business is not disclosed to the purchaser.

Suppose, 5 item purchased for Rs. 2,10,000. One item is sold for Rs. 45,000. Whether my father can issue bill for total of Rs. 48,460.8 i. total of Rs. 45,000 and proportionate excise duty of Rs. 3,460.8 (8.24% of Rs. 42,000)


GAUTAMI MUDUNURI
20 May 2009 at 08:46

Income tax refund

hai i need details regarding IT refund.I undertaken a contract to hire cabs in the year 2007. the contract has been from august 2007 to december 2008. the income tax has been deducted earlier every month from the contract price. can i claim refud of such amount and what is the time limit for such claim. please suggest me


nitu.p
20 May 2009 at 00:27

conversion from pee II to pcc

dear sir/madam

can any one tell me if a person is enrolled in Intermediate on the basis of their graduation and completed his/her articleship, after coversion in pcc in june 2009 is it compulsory to complete 3months articleship and 100hrs of it training.

pls answer

thanking you
xyz


darshit

Please explain in detail abt if any donation is given to charitable trust why deduction is not available under section 80G?Also how deduction can be availed in such situation?Pls explain case law if any


aditi daga
19 May 2009 at 22:28

remuneration to MD

what is the maximum remuneration that a managing director can draw from 2 companies(appointment has been made under section 269)?


CA. Jaimin Jayesh Sheth

Prosecution proceedings u/s. 276C(1) can be attracted, if it is proved that the assessee has willfully or deliberately concealed his income.


motilal
19 May 2009 at 20:36

taxation

what is cenvat credit in excise. how it is adjusted.
what is procedure for credit adjustment.
kindly solve my query.
Thanks for viewer.


Krishna Murthy

Sir,
We have filed an appeal with the CIT(Appeals) against the Assessment order of the assessing officer. The appeal is in our favour. We have paid some amount of tax laible to be paid as per assessment order to obtain stay before prefering to go on appeal. Now that the appeal is in our favour, we will be eligible to get the tax paid to get the stay orders. I want to know is there any form available in the Act to obtain the tax amount paid? what is the Procedure to be followed in this matter. Please let me know


CA Keyur Shah
19 May 2009 at 18:38

TDS

The CA firm is followed Cash Basis of Accounting System. The client of the firm has created a provision of audit fees on mercantile basis. So, the client has deposited TDS within Due date of TDS. In which year CA firm claimed TDS???

FY 2008-09 RS 500000 is provided in the books of client. He has deposited TDS in April 2009. The fees is received in the month of Aug 09. So income will be Recorded in FY 2009-10.
TDS is claimed in FY 2008-09 or 2009-10????


Dhaval Desai

I hav made a sale to a person on 28.03.09 for $1 at that dt INR was Rs.45
debtors A/c 45
To Sales A/c 45

on 31st march the INR was Rs.44 so i restate the debtors to Rs.44 by passing entry
foreign exchange loss A/c 1
To Debtors A/c 1

so whether can i claim this Re.1 loss under the income tax act
pls support ur answer by necessary circulars/notifications/case laws etc






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