I am registered as a Works Contractor under Composition Scheme of Delhi Value Added Tax with 3% tax liability.

I want to exchange my old car with a new car which has been used for personal as well as business use.

Depreciation benefit is being claimed on the car.

I want to know will there be any D-VAT liability on exchange of the old car? What would be the rate of tax?

Will I have to pay income tax also on exchange of old car?

On what amount would I be liable to pay VAT & Income Tax on? On the whole exchange consideration OR only on profit ( i.e. sale amount - value of car in books)?

What if I incur loss on exchange as per books? Will I still be liable to pay VAT/Income Tax?

Hi
I have salaried income of 10 LPA and NSE F&O turnover of around 8 LPA .

My Profit % of turnover is greater than 8 % .

My Question is do I need to get my Accounts audited by a CA before filling my return.

I am getting mixed opinions :

a) if your turnover exceeds 1 crore and your profit is less than 8% of turnover than only you need to audit your account.

b)if you want to claim losses and your other income(salaried income) exceeds slab rate(2 Lakhs) you are liable to audit

Is audit required in my case . How should I proceed with filing my return

in a balance sheet i found

GENERAL RESERVE - 1603
P/L ACCOUNT - 807
SECURITIES PREMIUM - 500
-----
Total 2910

after B/S its given profit for the yesr ended given 3060. there are some rectification amounting to rs 60 , so after rectificatio profit comes to (3060-60)=3000.

so my Q. is what could be the probable cause between such difference means why is there a difference between 2910 and 3000. it should be same.

Referncence - Praveen sir , ca final , valuation of goodwill chapter , ABC Ltd.

Cst tax comes to which exp? Indirect or direct?

Dear Sir/Madam,

We are now got registration in central excise under code(cetsh): 19053211, under descrption :bread, pastries, cackes, biscutes etc.

first time i am going to pay tax.
1.)Kindly suggest the primary cess code & secondery cess code.....

2.) Kindly suggest the basic code,primary cess code & secondery cess code on interest for the same

Thanks,
Ramashankar

Hello,

School Bus operator providing service to the students i.e collection hire charges directly from parents- Whether it taxable under service tax.

In the same way negative list contains the education till higher secondary. Can we avail the exemption under negative list for school bus service.

Hello sir,

I am working as a Counselor on a commission basis. My Employer deduct the TDS U/s 194H.

Kindly suggest, which return should i file, ITR1 or ITR4.

Thanks a lot for your supoort.

Sir I m in bcom final year n also doing ca.I want to pursue cs and want to register for the same to give attempt in 2015 June executive. I wanted to know that will I get permission from ca institute or it will be treated as doing three courses simultaneously .although my Cs exam will be due after BCom final yr.results.

Hello...
Plz guide me someone..

It's Urgent..

Whether is it necessary to keep gape of around 6 mnths between two years Return filing for Bank loan purpose???
I want to file return of my cousin for A.y. 2013-14 and 2014-15..
Then what should I do??
Before 31st July can I file both the years return simultaneously??

hello,

i wanted to know whether the principal is liable to pay stipend for leave which is normally allowed (i.e 1/6th of days worked is "allowed leave")

My principal did not pay me stipend when i took leave for CA final preparations.he pays me very basic 1500/-.

I have read that "Principal is not rquired to pay for "excess leave taken". But what about the 1/6th leave which is allowed.

Besides he is also giving me extension.

Please help