DEAR ALL,

TRADING STOCK & FIXED ASSETS ARE LOST BY FIRE. CLAIM IS FILED AGAINST IT.
QTY VALE
TRADING STOCK 1500KG 150000
COMPUTER 1 WDV 1000
CLAIM FILED FOR 150000 PLUS 20000 FOR NEW COMPUTER.
WHAT IS TREATMENT OF ENTRY.
PLZ EXPLAIN IN DETAIL.

Can anyone help me out in a doubt relating to the above subject.

Q: Turnover for FY 2007- 08 - 700000
Total receipts in 07-08
(a)in respect of bills raised
in 07-08 - 650000
(b)advance received in respect
of service to be rendered in
Fy 08-09 - 400000
--------
Total receipts - 1050000
--------
The business was commenced on 31st Jan, 2007.
My queries are:
(i)Can i claim general exemption upto Rs. 800000 receipts, given to small service providers as my turover in 07-08 is less than Rs.800000?

(ii)Should I pay service tax on receipts exceeding Rs 800000 i.e on Rs.250000 which constitutes my advance receipts?

(iii)As my turnover is less than Rs.800000 in 07-08 can i get general exemption of Rs.1000000 in FY 08-09?

(iv)Finally what are the consequences if I am not registered in FY 07-08?

I would be grateful if any one provide me with the answers for the above queries as soon as possible.

Thanks in advance

Regards,
SRAVANI P

1. shell network is fibre optic cable supplier and he also installs cable.one of my cilent used his services. whether TDS to be deducted.if to be deducted under which section to be deducted.


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we means Company, Firm & Individual combinely receiving services.

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Hello,

I have heard that,, motor car is purchsed in the month January 2009 depreceation rate is instead of usual 15% now it has changed to 50%???.

Is it true.

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section 54 (sale of house property)
section 54B (sale of Ag. Land)
section 54F(sale of LTCasset other than house property)

A plot is land or other


question-2 when plot was purchased it is agriculture land & after it is plot as per income tax calculation tell its status.

Long term capital gain on sale of plot. assesse can take benefit in

section 54 (sale of house property)
section 54B (sale of Ag. Land)
section 54F(sale of LTCasset other than house property)

A plot is land or other


question-2 when plot was purchased it is agriculture land & after it is plot as per tax tax calculation tell its status.

Long term capital gain on sale of plot. assesse can take benefit in

section 54 (sale of house property)
section 54B (sale of Ag. Land)
section 54F(sale of LTCasset other than house property)

A plot is land or other


question-2 when plot was purchased it is agriculture land & after it is plot as per tax tax calculation tell its status.

HI,

Am preparing for my CA final in may 2010 and doin my articleship from PKF Sridhar and Santhanam..I want to pursue some other course along with CA.Can you suggest me which course should i do which can help in future in my career.?

Thanks and Regards
Zinal Gala