Hi. I want to know whether the scrap resulted out of manufacturing process and sold to kabadiwalas is taxable as income under Income Tax. My assessee is claiming Deduction u/s 80IC. Whether Scrap sale can be claimed as income from manufacturing business. Pls send the answer asap

A company took over (purchased)vacant land for airport expansion during the year 2007-08 on behalf of the goverment. they have paid Rs.2.5 lacs after deduction of TDS. Assessee has purchased the land during 80's for Rs.10,000/-. he does not have any taxble income also he is a disabled person nat havin PAN. My question is:
1) Is it correct to deduct the TDS by the Co ?
2) Is Capital gains is Taxble for him?
3) how much he has to pay the Tax?

Can i take credit of service tax amount (in 2008-09) of previous year( 2007-08 ).which has not entered in recoverable (whole amount booked in expenses)
please suggest me

Hi

My querry s this should we claculate TDS on Due basis or Payment Basis for expenses.

i want to know some thing about excise.can anyone help me.

My company(public, unlisted) wants to compound the offence relating to no. of minimum directors which was 3 but in AOA minimum no. is mentioned 4. wat would be the penalty ?? is it wise to compound the offence and get it done with ??

A company was closed mid year.

An employee who was working in that company changes his job to another company. The liquidated/closed company refused to issue form 16.

Can the employee files his ITR - 1 with only one form 16(from the second company)?

Non attachment of form 16 from the previous employer might lead to rejection of the return for lack of proper attachment.What should the employee do?

How should he file his return?

HELLO GOOD MORNING,

1. WHETHER A PRACTICING CHARTERED ACCOUNTANT CAN BECOME A MEMBER OF BOARD OF DIRECTOR OF A PVT LTD WHERE HE IS NOT STATUTORY AUDIT OF THE SAME COMPANY.

2. CAN HE DRAW A REMUNARATION ON MONTHLY BASIS

WHAT IS HIS POSITION IN THE COMPANIES ACT AS WELL AS CHARTERED ACCOUNTANTS ACT POINT OF VIEW

REGDS
RCN

Dear sir,

While making payment to BSNL.We will make entry as follow:

Telephone expenses ac ----Dr.
Service Tax rece ac ------Dr.
To Cash / bank ac.

But this Service Tax Reced Ac will show Debit balance.What will be the next accounting entry & Taxation provision.

Plz tell help me.

I have resigned from previous job and applied for PF withdrawal does this effect any tax liablity on my gross income