Sir
Fixing of pugmarks for proposed Transmision line ( including the digging and clearing of the route) - is the contract.

With my limited knowledge I said we have tom deduct 2.666% TDS and contractor need not charge ant Service Tax

Please advice / clarify

Can an auditor be removed now for not providing balance sheet of an earlier year.
e.g. balance sheet not signed and provided to auditee for 31.03.2006, but auditor signed balance sheets for 31.03.07 and 31.03.2008. Can the auditor be removed in the meeting to be held in sept'09??
please reply soon.

Comany has aggriculture land resurve
can issue dividend above reserve

Dear sir,
During Audit,what are the point need to check in dutydrawback,foreign remittance,freight charges,Excise duty paid ??

Thanks in Advance
A.Rekha

The company earns income from the foreign holding company but does not showns the amount of the service tax in the invoice although the same is paid by the company through gross up method. Should the amount of the service tax paid be shown in the financial statement as expenditure or the service income be reduced by the service tax amount?

dear all,

Please guide me on my following query;

We are private limited Indian Co. which is subsidiary of Japanies ltd. co. ,we regularly trade with parent co. through our purchase sell contract ;

these Co .are closely held Co. having common directors.

Plese tell me is it require to take Govt approval for regular sale purchase contract of the Co. U/S 297

We have taken FIPB approval for our collaboration is it sufficient and if any approval is required what is procedurre to take this approval.

Thanking you in advance for your reply

wHETHER CANVAT CREDIT IS allowed ON THE BASIS OF INVOICE WHICH IS " ORIGINAL FOR BUYER" BUT DOES NOT CONTAIN DETAILS REGARDING mode of vehicle, date of removal & vehicle reg. no. As Duplicate for transporter copy is not available or missing or wrongly send back to supplier

my client has duducted tds from payment made for purchase of stationery. But the party has not given pan number and now it refuse to give us pan detail. So, It is possible for us to file tds return without pan detail.

RESPECTED SIR,
MAY I HAVE ONE QUERY IN RESPECT OF INCOME TAX “ PROFIT & GAIN OF BUSINESS AND PROFESSION “ . IN IT UNDER SECTION 40(A) (3) ANY EXPENSES ( PAYMENT) BY MEANS OF CASH PAYMENT( EXCEPT BY AN ACCOUNT PAYYEE CHEQUE OR AN ACCOUNT PAYEE BANK DRAFT) EXCEED RS. 20000 /-
THEN SUCH EXPENSES MAY BE 100% DISALLOWED AND NOT DEDUCTIBLE.
[ AMENDMENT IN FINANCE BILL 2008]

[ UPTO THE FINANCE BILL 2006 IT MAY BE ONLY 20% DIS-ALLOWED]

NOW , IF ANY PERSON DURING THE PREVIOUS YEAR 2008-09 PUCHASES A COMPUTER EQUIPMENTS FOR CASH PAYMENT OF RS .500000 /- , THEN FOR SUCH CAPITAL ASSET IF DEPRECIATION CLAIMED BY AN ASSESSE UNDER SECTION 32 @ 60% (THAT IS RS.300000/-). IS SUCH DEPRECIATION BEING ALLOWED OR NOT ALLOWED AS DEDUCTIBLE EXPENDITURE IN PROFIT & LOSS A/C STATEMENT OF AN ASSESSE.
GIVEN IN BOOK OF INCOME TAX THAT SECTION 40A(3) IS APPLICABLE EVEN IF AN ASSESSEE PUCHASESA DEPRECIABLE ASSET. ALSO, SECTION 40A(3) APPLY IN RESPECT OF AN EXPENDITURE WHICH IS CLAIMED AS DEDUCTION UNDER SECTIONS 30 TO 37 . AS DEPRECIATION CAME UNDER SECTION 32.

SO SIR WHAT WILL LIKELY TO BE DONE UNDER THAT PARTICULAR SITUATION AS PER THE INCOME TAX ACT .

I forget to deduct Tds on Advertising charges & made the payment Later on when i realised that adevertising charges are tax deductible I deducted on all the payment since april & I deducted & paid TDS in january. then now how to put dates in 26Q and form 16A