Hi

In works contract service, a person( contractor) constructs a building for Mr.A wherein material ( Rs 10,000)and labour( Rs.6,000) was supplided by the contractor for construction of building .

So if Contractor issues a bill( i.e one bill) for his service in which he bifercates his expences of material and labour seperately . On which amount T.D.S will be deducted
a) On Rs. 16,000 (i.e total value of bill)

b) On Rs 6,000 ( only labour)


Thx

Shweta

Hello

In works contract service, a person( contractor) constructs a building for Mr.A wherein material ( Rs 10,000)and labour( Rs.6,000) was supplided by the contractor for construction of building .

So if Contractor issues a bill( i.e one bill) for his service in which he bifercates his expences of material and labour seperately . On which amount T.D.S will be deducted
a) On Rs. 16,000 (i.e total value of bill)

b) On Rs 6,000 ( only labour)


Thx

Shweta

IN A PARTNERSHIP FIRM ONE OF THE PARTNER'S IS A KARTHA(IN REPRESENTATIVE CAPACITY)OF AN H.U.F. SECTION 40(b) CONTAINS CERTAIN RESTRICTIONS FOR INTEREST PAYMENT TO PARTNERS. IS THERE ANY EXCEPTION FOR INTEREST PAYMENT TO AN H.U.F PARTNER.

Any one can please confirm whether the Secreterial Standards 1 to 6 issued by the ICSI are applicable to Private Companies in the respective areas or not.

I think still the standards are not Mandatory even for the Public Companies.

Pls let me know asap.

hello all, i have some queries about "Gujarat VAT" input crdit which to be solve. i am working in a manufacturing company, and recently i got involved in Sale tax matters of my company and our first VAT assessment is under process. as the VAT act is new for all us many confusions are there, following are some queries which has to be solve at earliest.
1. first query about Branch transfer, as per VAT act there is provision of 4% reduction in ITC on "taxable turnover of purchases within state." the assessing officer is saying that we have to reduce 4% on whole taxable purchases within state i.e. my taxable purchases is 1000 and BT is there 50, then he suggested to reduce rs. 40 from ITC instead of Rs.2, is that correct? as language of Act compel to obey him but logic not allow to do so. further i observed that my most of BT is purchases of OGS and Manufactured Scrap (i.e. imported or CST purchases) hence i didn't availed ITC on most of items, is there need to reduce the ITC by 4%.further as per assessing officer BT is BT whether it is outside state or within state and you have to reduce 4% necessarily(pl note that we have three units within Gujarat and having seperate registration no for each.)
2. the second objection was for SCRAP sale to third party, as there are a few categories of scrap defined in schedule and list of commodity Scrap made from non-ferrous metal and alloye,Scrap of non-ferrous metal and alloy,Iron scrap, rubber scrap. but scrap may arise from anything used in plant i.e. empty drum, waste and used lubricants & oil, empty tins, wooden wastes, HDPE scrap..etc. i want to know how to apply the tax rate on any scrap?
3. the assesing oficer objects for ITC on store cosumables i.e. Ball bearing, nut bolts, grease & lubricants. as it comes under "processing matarials" can we avail the same? further we have to use the LPG and oxygen for cutting and welding, he treat this as fuel and advised to reduction of 4% as per sec 11(3)(b)(iii).
i know that it will take your a lot of time, but you are requested pl help out me. Thanks

wat is the procedure for transfer of shares in case of a pvt ltd.?

Are any forms required to be filed with the ROC?

Please it is urgent

if a cell phone company billed cellphone to its distributer Rs 1200/- plus VAT per unit and thereafter give subsidy of rs 500/- per unit and distributers sold the unit amounted to Rs 725/-

plz suggest accounting treatment of Subsidy of Rs 500/- in the books of Distributer.

if a cell phone company billed cellphone to its distributer Rs 1200/- plus VAT per unit and thereafter give subsidy of rs 500/- per unit and distributers sold the unit amounted to Rs 725/-

plz suggest accounting treatment of Subsidy of Rs 500/- in the books of Distributer.

Pls guide me to understand the tax implication in respect of the Food coupons (SOdexho) given by Company to employees as a part of CTC.
1. R they exempt from tax while calculating TDS from Salary of employees. If yes, to what extent. Pls provide ref. section or rule.

2. R they exempt from FBT for employers ?
As per my knowledge food coupons are exempt from tax to the tune of Rs 15600/- (50Rs.*26 working days* 12 Months).

Pls guide.

Thanks
Hemal jani
9979861262

wheather advances extended for more than Rs.20,000/- will come under the purview of Sec - 40 A(3)?

since advance is not an expenses, i think it will not come u/s 40A(3).even if an advance is give for more than Rs.20,000.