I want to know that, what would be the effect on unregistered dealer, they purchase with vat and sales afetr adding vat with sales price, but do not pay the vat to govt. so actually customer will be the bearer of high cost and dealer engulf the vat collected from customer. may I know, the company who sale the prodt. to Un-registered dealer have to pay any extra amount? plz referred the total cycle of Vat Purchase and Sales to Registered dealer and un-regisered dealer with any examples.

If X had transfered his House to his Daughter (major,unmarried) b4 filing for bankrupcy....can the Reciever claim that House on behalf of the Bank(s) frm whom X had taken Loans?????

P.S--- the House wasnt subjected as security provided for the Loans

I have a query on house property.

There are two assessee X and Y. Both own the property equally. But EMI on loan is paid by X and the benefit was claimed by Y on the Interest and Principal amount in his return of income. But Y haven’t claimed Stamp duty charges and registration fees U/s 80C. Now X who haven’t filed the return can claim such expenses u/s 80C.

I have a query on house property.

There are two assessee X and Y. Both own the property equally. But EMI on loan is paid by X and the benefit was claimed by Y on the Interest and Principal amount in his return of income. But Y haven’t claimed Stamp duty charges and registration fees U/s 80C. Now X who haven’t filed the return can claim such expenses u/s 80C.

My Client is doing business of Travel Agent. His Gross Receipts during the financial year 07-08 is Rs.5.00 lakhs, Administrtive Expenses Rs.3.25 lakhs and Depreciation on Car Rs.0.75 lakhs and Net Profit Rs.1.00 lakhs. Under these circumtances the books of accounts will not be required to maintain u/s 44AA of the IT Act since the Gross Receipts is less than Rs.10.00 lakhs and Net Income is also less than Rs.1.20 lakhs.

He purchased a car for Rs.5.00 lakhs during the financia; year 07-08.

Can he claim depreciation on Car Rs.75,000/- since the business without books of accounts.

sir
A govt. servant joined his service in Nov.2006. He has received his arrears this year as per the 6th pay comm. recommendatoins. since his total income for the year 2006-07 is less, can he show his arrears in his 2006-07 income to decrease his tax liability.

Thanking you
Rajinder Singh

My annual income is not taxable. My father transfer rs. 5 lac to my account and I paid it to contractor than is that amount taxable?

If my father transfer rs. five lac to my account for the payment to contractor,then is it taxable portion for me?

WE ARE A PROP. FIRM AND WE HAVE ALSO AUDITED OUR ACCOUNTS IN THE PRECEDING YEAR (2007-2008) SO, THAT'S WHY IN THIS YERA WE ARE LIABLE TO DEDUCT TDS ON EVERY PAYMENT BUT WE DID NOT DO THAT, NOW IN THE END OF DECEMBER 2008, WE ARE APPLYING FOR THE TDS NO. AND WILL START TO DEDUCT TDS. NOW WE HAVE TO DEPOSIT OUR ALL FINANCIAL YEAR'S TDS WHICH WE DID NOT DEDUCT OR ONLY THE FUTURE TDS OF JAN. FEB AND MARCH.

PLEASE REPLY ME SOON.

Pls help me in my difficulty,

I want to know what is the treatement of Debit And Credit note in the accounting system?

When debit and credit note is being sent
ans by whom it is being sent?

If u have a example regarding said difficulty pls explained it by way of
accounting entry?

And what is the entry of Debit and Credit note in the books of account?

Pls help me.................