Dear All,
One of my client paying service tax, but he want to take input credit too.

There are mainly doing software support, web hosting, web maintenance. What kind of transaction they can take input credit? is there any writeup or act number

Please help me in this regards

thank you
Ram
krishvdr@gmail.com

What's the purpose of creating revaluation reserve a/c on merger of two companies.

An individual is the prorietor of 3 concerns all of which need to be audited under section 44AB. Pl confirm as to how many 3CD should be filed. Is one 3CD enough or should it be given separately for each concern? Kindly give reference to case laws, if any

hi All

1. pls tell wht are all the areas to be covered in the given list

2. Wht book i can refer to learn basics about foreign exchanges transactions?

1.Policies & Compliance – Board
2.Option Contract
3.Forward Cover
4.Interest Rate Swaps
5.Derivative Procedure – Search from Google
6.Existing Process Study – Who determines & Decides & whether all advices documented
7.Copies of forward cover contract notes / statements
8.Premium and how accounted
9.Any stop loss limits for option contract & forward cover
10 Opportunity gain/loss
11.Spot rules rectification – How Verifies & Source Data
12Rate of transaction date & Settlement date
13Mix of hedging & unhedged
14Cancellation approval process - Profit & Loss
15FCNRB Loan – Accounting or notional basis
16Export & Import Transactions

Dear Sir,
Our Institute is going to construct new building for starting a college. Amounts spent for this construction work will go under which heads in accounts. Should we maintain a separate account for this. Expenditure will be on geological survey and soil testing, architects fees, building materials, contractors charges, etc.
Thanks

Explain the terms

1. Time value of money
2. Appreciation of assets
3. Justation period


S.K.Wallia

Can I gift any amount to relative to save tax as an exception under Sec-56 ?
If No, why ?

Seems Funny. Can I escape tax saying my income or profit or gain as "EARNING" ? under the head Profits and gains from business or profession ?

I mean to say does the EARNING taxable under income tax ?
If yes, where it is mentioned ?

It is known that Income/profit/gain is taxable but EARNING ?

Mr.X consultant for foreign based firm. receives Rs.90000 every quarter.What are the consequences of TDS ?

Mr.X consultant for foreign based firm. receives Rs.90000 every quarter.What are the consequences of TDS ?