When we supply material to government department they deduct TDS on supply bills also. Is it valid to deduct TDS on supply of material.

In case it is not valid then where can we find reference for not deducting the TDS on supply bill

I have cleared my icwai inter and now doing job as a manager in a taxi stand,it is registered,but not a ltd co.can i use it for the purpose of industrial training in icwai inst.

I agree that as per Service Tax rules if Abatement is claimed, Cenvat Credit can not be availed.

However I have a genuine query, which I would like to clarify, with the following example-

Suppose I provide a Tour Package worth Rs. 1 Lac, for which I charge my clients Service Tax/ Cess @ 2.58% of the Package Value (Rs. 2580/-). (Means my total Invoice Amount is Rs. 102,580)

Now, I take some of the Ground Services from my Sub Agent (worth Rs. 50,000/-), for which he issues an Invoice in favour of our company and charges Service Tax/ Cess @ 2.58% of the value of Service provided (in this case- Rs. 1290/-).

Now my question is that I have charged my client Rs. 2580 as Service Tax/ Cess. Out of which I have already paid Rs. 1290/- to my Sub Agent as Service Tax/ Cess.

So the remaining amount of Service Tax/ Cess with me is only Rs. 1290/-.

Now as per your reply, because I have claimed the Abatement, I should pay the full amount of Rs. 2580 as Service Tax/ Cess (whereas I'm left with only Rs. 1290).

SO SHOULD I PAY RS. 1290/- OUT OF MY OWN POCKET (Reducing my Genuine Profit Margins)???

KINDLY ADVISE !!

Regds....Anurag

Hello ! Freinds
In case of Goods Tranport by road recepient of service is liable to pay the Service Tax. But, for the purpose of registration or to decide the liability to pay whose turnover is to be considered Whether the transporter or the receiver. And how it is to be Calculated.
What if the turnover of either of the two exceeds Rs. 10lacs and other one is below taxable.

Thanks and Regards

Gourav Mehta

Hi! Freinds
Please resolve,
If MR. A has gifetd Rs. 5lacs to his wife Mrs. A and if she has invested the amount in a partner ship firm for a year and earn Rs. 75000/- as a share of profit and after that she withdrew the amount of Rs. 500000 and gifted to her daughter in law. Her daughter in law invested the same in a bank FD and earn interest of Rs. 50000. Now, in whose hands this interest income isi to be clubbed whether in the hands of Mr. A(Gift originates from him) or Mrs. B(Transferor to daughter in law).
Reference books are showing different views on this matter.

Thanks and Regards
Gourav Mehta

Hi all,

Date of incorporation of Pvt Ltd.company is 01-01-07.
Can u please tell me what will be the date on share certificates which issued to Subscribers. Is it the date of incorporation or date of first board meeting after incorporation of Pvt Ltd. Co.

Can first Board meeting can be held on the date of certificate of incorporation.

Thanks.

Dear all,
I have made TDS payments using NSDL. I have the payment details BSR Code, Challan No. etc. But in form 16 I am supposed to quote acknowledgement nos. How can I get these nos. Please help

Dear Sir,
A ltd sold goods to B ltd for 20 lacs.at the time of delivery prices went down as such B LTD refused to accept the goods.A ltd sold it to C LTD 6 lacs.matter is in arbitration for 14 lacs. querry 1) Can A ltd write off 14 lacs as BAD DEBTS? 2) IF ltd wrtes it off as bad debts ,is is not likely that arbitration will reject the claim saying since u have triten off the amount u can not get claim. c.a.paresh zatakia

For the only purpose of partial repayment of home loan of son, wife transfers fund to her husband's savings bank a/c.Then the home loan of son is repaid from husband's a/c Is there any involvement of incometax to husband.

achyut bhalerao

For the only purpose of partial repayment of home loan of son, wife transfers fund to her husband's savings bank a/c.Then the home loan of son is repaid from husband's a/c Is there any involvement of incometax to husband.

achyut bhalerao