Pls provide me some case laws wherein the assesee didn't got his accounts audited due to bonafide interpretation of the term turnover.
The assesee had a commission income of more than 40 lacs,but he was of the view that since this is commission income,it would fall under 'Income from Other Source' and hence he filed his return as such without getting them audited.Now a show cause notice has been served to him for imposition of penalty u/s 271 B.This can be waived if there is some reasonable cause shown u/s 273 B.Is there any case law available?

500sq. metere land in urban is exempted under the wealth tax in this clarify the followings. 1. what is the correct area of land in 500 sq metere in feet. and if land is in rural area exemption is available.

what is difference b/w crossed cheque & account payee cheque?

Suppose we make provision for income tax receviable in last year Amounting 100 and we got refund in current year amounting Rs. 75 so what will be the treatment for Rs.25 which receviable for last year.

Please let me know that Thanking you

In my opinion it should be treated as expenses as provision written off

Amt paid to Sports Turnaments (Guj.) is it Exempt from tax amt.? under which act.?
Plz guide-Urgently.

Bharati

we are a mfg unit regd under CE (availing full cenvat on inputs and also charging full excise on finished goods).
we pay service tax on various input services' bills like BSNL Telephone bill, courier bill, ISO Audit fee's bill, general insurance premium on factory bldg, machinery and stocks, legal & prof. charges bill (all bills in the name of the company).
we also pay service tax on inward freight, availing abatement ( on 25% of freight value).we have taken service tax regn no. only for this.
Now, (a) can we take credit of service tax paid on other input servicesas mentioned above-if we avail abatement on paying service tax on inward freight ? (b) can we take cenvat credit in excise for service tax paid on inward freight ?
seeking your advice with relevant rules / notification / judgements etc.

regards
anckoora

Can any post the circular or link where it is mentioned that service tax input can be taken only on those services which are liable for output tax???

Hi,
If the house property is self occupied & it is owned by both Husband & wife. They both are paying interest on laon taken for HP. Can they both avail the deduction of 1.5 lacs each for the interest part if the interest paid in PY exceeds 3 lacs.


Sandeep

Can anybody pls tell me if we will be asked questions about service tax of certain specific services in PCC.
Last time there was question of option for insurer to pay servicetax at special Rate. Such questions are they stopped?
There was some unclear information in the newsletter that questions wont be asked about individual services

Please reply.
Thank u

Hi

If an assessee has tax audit u/s 44AB. is he is liable to file compulsory TDS return for each qtr. Even if no transaction are there, is he is liable to file NIL return.

Can u give me any circular, notification in this regards.

Anwar Shaikh