a firm has shown its sales excluding the UPTT & CST.
also,it has not debited the UPTT & CST in the P&L A/c.
firm doesn't pay the outstanding amount of UPTT & CST which has been shown as liability till the due date of furnishing the return.
what is the effect under tax audit.
what objection does auditor raise.

What is "Island Reversal", "Hammer formation", "Double Bottom formation".

If while calculating MAT, i take Net Profit before tax, then with respect to Fringe Benefit Tax, what should i deduct from PBT?
a) Provision for FBT or
b) Total FBT Liabilty or
c) Actual FBT paid

Eg: I have PBT = Rs. 1 lakh
Provision for FBT is Rs.50000
Total FBT Liabilty is Rs.30000
FBT paid is Rs.40000
What will be the book profit for MAT?

Dear all,

Myself is a newly qualified chartered accountant in practice, presently i have opened a Escrow account in my firm name for making epayment of taxes of my clients, my quarries are:
1.whether Receipts to Escrow account by cash, any implication in this regard...??
2.What are the rules & regulations operate the escrow account.

Thanks in Advance.
CA.Siddarameshwara Gowda.

Can we file form 26Q (i.e TDS Return for Other Than Salary,) separately for Rent, Contract, Professional fees etc,. Let me make it clear can I file the form 26Q once for Rent, and then on the other day for Contract etc etc. Actually as far as I know for a single Quarter I have to file the TDS Return of all heads other than Salary in Form 26Q at one time, If I file it again it will a Revised Return. Am I correct

A company deals in computer and related parts. It also provides AMC and services to its clients. On AMC bills they charge 12.36 service tax on basic AMC amount. Thereafter should they levy VAT on basic and service tax amount. No the company is not under composition scheme. What difference it will make if it was under that scheme

I am a student doing artilship from last 1 year.my first attempt is in may-09 but due to my B.com exam i want to postpone my attempt to Nov-09.

my articalship will complete in dec-08(18 months. I dont want to continue articalship till Nov-09.is it possible?

Assessee shifted a industrial factory from Mumbai to a rural area.

Sold the assets of Mumbai factory and booked a capital gain of 10 lac in FY07. But took full exemption u/s 54G as he invested 20 lac for rural industrial factory. But in next two years say in FY09, he sold the rural factory also for 25 lac.

What will the taxable Capital in FY09 - will it be 15 lac or full 25 lac?

Assessee spent following amount in constructing a residential house which got ready in March 2008.

FY05 - 2 lac
FY06 - 2 lac
FY07 - 2 lac
FY08 - 2 lac

In FY07 he sold one residential house and booked a LTCG of 10 lac. Apart from above he didnt made any investment

So u/s 54 how much exemption can he claim and what will be his taxable capital gain?

Whether loan taken now no more payable will be liable to tax in the year of witen back?