Dear All,

I need your opinion in the following matter: I was working with Company A from 1st April to 17th October and received gross total income of 5,38,000/-. On this amount Company A has deducted Rs. 77,000/- as TDS against actual liability of Rs. 56,000/-. I joined Company B from 3rd November and will be getting gross total income of 3,96,000/- up to 31st March. Company B has asked for the income and TDS details of my salary from Company A.

Company A has not issued me Form-16 yet (they say it will be issued in June-09). I have got a final tax calculation statement from Company A as on the date of leaving (17th Oct). However, it is just a statement of tax calculation from 1st April to 17 October and does not have any proofs of tax deposited etc.

Company B accountant says he will not club the income as I don't have full details of taxes paid etc. (details as given in Form-16). Accountant of Company B says he will only consider 3,96,000/- as my income for the year and will assume that I have not given any details of my income from Company A. He says, should he club the income of company A, he should need all the details like cheque numbers and bank details including the date of deposit of tax.

Is this correct stand? Is statement of tax calculation issued by company A not a conclusive enough proof to assume that tax would have been deposited in income tax in my account?

His argument is that I can later on club two form 16s and prepare a final return on my own and pay any outstanding tax on that. Please suggest what should be the best course of action for me.

we are rendering services to our client in software development.

we develop a software as per client's specification and requirement. The development varies client to client. A software developed for one client may not be used for development of another software for another client. The software is developed as per intructions receive from the client. The rights to use the software remains with the client and there is no right of us thereafter on that software. we are not developing our own software and selling in the market. The developed software (as per client's specification) has independent idendity and salable in the market.

Please advise, Service tax applicable or VAt applicable. One consultant has given opinion that VAT will be applicable quoting Madras HC decision of Infosys.


Please advise.


Regards,

Mehul.

I have a propritership company.My son had to went through liver transplant recently and I end up spending more than 15 lac and everymonth I am spending on medicine Rs 20k. Can I show all medical expenses on account of my son as expense in the books or if there is some limit.I will appreciate your help.

Dear colleagues.
an assessee has only speculation income from share trading. he has received full the profit from the broker by way of chq.
is balance sheet and profit & loss a/c reuired to be given in ITR 4 ?

if yes,his balance sheet shall be NIL? as he does not have any business assets/liabilites like debtor,creditor,stock etc

regards

paresh zatakia

We have hired a porta cabin ( Temporary structure) from a vendor and he is charging CST or VAT as we have taken right to use the cabin. Is it correct.


In another case we have got made / fabricated a setup in a conference. Electric wiring, wooden wall, synthetic carpet , LCD display etc. We have used this set up for three days and vendor has taken back the entire structure with equipments.
Vendor has charged CST @ 2%.

As per our knowledge he has to charge service tax but he has charged CST.

What is "RIGHT TO USE" and its cover in service tax or sales tax (VAT or CST).

Thanks

Dear All,

Please let me know what is the process , if some person dont allow company to deduct TDS as they say that their income is less then the ememption Limit.

What should company do? And also what document is required to submit in the company by the person ?

Hi,

How to account for deferred tax liability?
Please explain....

My Father is not working, I am eldest in my family, My income is only source of family income. I have paid a sum of Rs. 16500/- for the tuition fee for the Delhi university.

Should I claim this as a deduction u/s 80c

Please advice.

Rajesh Jaiswal

Hi,

Can anyone give me the correct explanation of section 149(2A), 149(2B) of Companies Act, 1956?

what are the documents to be attached with application claiming refund under Under Rule 5 Cenvat Credit Rules. what is the time limitation.