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

In case of Finance Business(giving loans to others) What should be limit for Tax Audit? Is it considered on Loan Given Basis or Interest Received from parties.

What is works contract tax ? what is its rate? how is it levied and on which amount levy is made?

Sir,

I am dealer in Maharashtra. I received order from a dealer from Maharashtra. But he told to despatch the material out of maharashtra.

In this case i should charge local vat or cst

pls advice

sudheer

What is the excemtion limit for first financial year for an assessee

Swcondly,If exemption limit is crossed in first financial year then what amount should be considered for service tax ? say exemption limit in first financial yeat is Rs 10,00,000 and the assesse has provided service for Rs. 12,00,000 then at what amout tax will be levied , on Rs balance 2 lakh or whole 12lakh??

Pls. let me know what is the due date of folowing payments in maharashtra state.

Profession tax (e.g. april 08 salary paid in 07/05/08 & booked in same date also then wt is the due date)

Octroi (wt is rate and basis of paymt.i.e. mthly, qtly, yearly also tell me)

Labour welfare fund

For a unit under EPCG are there any concessions available for the excise duty on the indigenous capital goods. If not the duty paid can be availed as CENVAT credit.


Please reply ASAP.

We are in the business of tour operator, mainly providing service of accomodation. but the thing is accomodation which we are providing to client for stay is taken on lease for various period by us and we have licence of luxury tax and bread and butter of same. we are providing cook along with accomodation facility. then how much service charges we have to collect, which tax is applicable and at what rate, how to raise invoice ?

I have a query related to the Employees pension fund. The facts of the case are:

The employer is deduction 12% of the basic pay from the salary as the employees contribution towards the P.F.
Now he is also supposed to deposit the same amount in P.F. whereas he has been depositing only 3.67% in P.F.

The employees noticed this from the P.F. acount statement but they assumed that the employer must have been depositing the balance 8.33% in the Employees pension Fund.

But now they have discovered that no such contributions have been made by the employer in Employees Pension Fund.

Now my query is that whether employees have any rights & measures to exercise against the employer? If yes please provide me with a refernce or link where I can found all of them in Detail.

Also, is there any account statement of Employees pension fund that should be made available to the employees similar to the account statement of the P.F. & on what periodicity?

What will be the tax treatment for an unregistered Charitable Society under Income Tax (neither registered under Societies registation act nor under Sec 12A of Income Tax Act) ?

Which ITR form shall be filled ITR 5 or 7?

Whether the Life membership fee collected from its members is liable to tax?

In the next year the Society get registration under Societies Registration Act but not under Income Tax.

How it will be dealt with in both the years??