There is a company which is in hyderabad and it has branches all over india which are not registered.Account are maintained in headoffice i.e in hyderabad. This company is deductinf profeesional tax for employees who are working headoffice i.e hyderabad. and for rest of the employees not deducting(NOT PAYING). Is it correct whathe company is doing
Pls help me in this

I am working in a wholly owned subsidery which is wholly owned by a foreign company. We bill for them for the services provided. How do we account for the remittance received 1) Income 2) Inter-company transaction. 3) If "Income" are any taxes applicable on the Income received 2) If Intercompany then how to record those transations ? Please explain

I (individual)purchases a share at 100/-(including brokerage ) and charged 5/- for STT and other charges so I paid to broker= 105/-. Five days later I sold share at 150/- (Net of brokerage) and charged Rs. 7/- as STT and other charges. Cheque received fro mbroker = 143/- so,
My Short term gain = 143-105=38/- or
= 150-100=50/-
Please clear.

SIR,
I WANT TO KNOW CURRENT RATE OF SERVICE TAX ON CONTRACTOR'S (CIVIL CONSTRUCTION)

THANKS & REGARDES

Can you please tell me how to file a service tax return -1) how to fill up the form - I have never paid any services tax what ever was collected is setoff against all paid.2) What do u mean by cenvat credit. 3) Can I file Nil return on-line.

Q.1) If an assesse earns income from profession of acting then under which head it should be shown? PGBP or OTHER INCOME?

Q.2) Are expenses incurred in travelling & other purpose in acting profession deductible? If Yes then how?

Q.3) Can an assessee claim TDS deducted earlier if his/her income is non taxable even if the return is submitted after due date(30-09-08) but before 31-03-09 [means belated return u/s 139(4)] ?


Please answer these queries!!

ALMOST ALL OUR SALES ARE INTERSTATE AND THE PURCHASES-NEARLY 60% ARE MADE LOCALLY.
SINCE OUR INPUTS ATTRACT 4%/12.50% VAT WE ARE INVARIABLY APPLYING FOR A REFUND. THE CST IS TO BE PHASED OUT IN ANOTHER TWO YEARS. AND IN SUCH A SCENERIO THE ENTIRE AMOUNT OF VAT PAID BY US IS ELIGIBLE FOR REFUND AS CENTRAL SALES WILL BE ZERO RATED. IS MY ASSUMPTION CORRECT?

When we send spares,parts etc. free of charge during the warranty period (these were not included while valuation) do we need to debit excise? also, please clarify in case of a debit do we need to raise invoices indicating free of charge?

Whether TDS should be deducted on room rent paid to Hotel.

As per the circular No. 5/2002 issued by CBDT on 30.07.2002 rent means " any payment, by whatever name called under any lease or any agreement or arrangement for the use of any land."

The department also emphasised that payment made to hotels for hotel accommodation, whether in the nature of lease or licence agreement are covered so long as such accommodation has been taken on regular basis.

But if there is no agreement between both the parties,and room is hired not on daily basis, then whether TDS should be deducted?

What do you mean by regular basis?

Whether TDS should be deducted on room rent paid to Hotel.

As per the circular No. 5/2002 issued by CBDT on 30.07.2002 rent means " any payment, by whatever name called under any lease or any agreement or arrangement for the use of any land."

The department also emphasised that payment made to hotels for hotel accommodation, whether in the nature of lease or licence agreement are covered so long as such accommodation has been taken on regular basis.

But if there is no agreement between both the parties,and room is hired not on daily basis, then whether TDS should be deducted?

What do you mean by regular basis?