What is Service Tax ? On whom it is applicable and at which rate ? The person on whom it is applicable, has to deposit it at the end of the year or quaterly or half-yearly ?

Respected Sir/Madam

I want to know what is 'Profit and Loss Suspense A/C' and is there any differance between Profit & Loss Suspense A/C' and 'Profit and Loss Adjustment A/C' which is prepared in partership to ascertain profit during the year?

ARE WE LIABLE TO DEDUCT TDS ON MAKING PAYMENTS TOWARDS MONTHLY BILLS OF BSNL,IDEA, BHARTI ETC IF IT EXCEEDS RS. 50000 IN A YEAR.PL REPLY

in our company PF late paid 4 days in the month of aug'07
actual due date 15-08-07, but paid 22-08-07 in this regard, how much % of amount disallowed in income tax
PF total amount paid in the month of Aug'07 was Rs.597658/-

please send me procedure for calculation of disallwance in IT and how much amount disallowd with interest?

please sir urgent

daer sir
i want to know that what is the procedure for claim the service tax refund.

please let me know whether vat is applicable on sale of second hand car in assam.
if seller has not cahrged vat, whether it is to be deposited by purchaser later on.

please let me know whether vat is applicable on sale of second hand car in assam.
if seller has not cahrged vat, whether it is to be deposited by purchaser later on.

The supreme court of India in the case of Arun Kumar has ruled that since their was no deeming provision w.r.t concession in the matter of rent hence Assessing officer can be refferd to assess whether any concession is actually flowing in case of concessional accomodation
The finace Act 07 has introduced the deeming provision in section 17 of Income Tax Act 1961 as per which concession shall deemed to be provided if employee pays rent equal or less than 7.5/10/15% of salry. However in Rule 3 of Income Tax Rules, their is no amendment and thier still exist rate of 15 and 20 % for valuation purpose.
In this situation please clarify how the valuation be done i.e rates given in Section 17 or Rule 3.