mastan vali
20 June 2014 at 17:34

Meeting expenses

as per revised sheduel 6 to whic account meeting expenses must be debited


Harish Shrimali

A manufacturing unit used Furnace oil for the purpose of heat treatment of the material manufactured (Explosive item. It is a mandatory process under Explosive Rule, without which onward process should not be supposed). Here, Furnace oil burnt in a Furnace machine covered (inside) with Fire bricks and material get heat treatment in the machine. I think in this case, Furnace oil should come under consumable item and not under Power & fuel. Where, we should claim CENVAT and VAT credit on the Furnace oil.
Please help.


Ritu Raj
20 June 2014 at 17:15

Tds on cooperative society

Dear Sir/Madam,

Please kindly explain the TDS applicability on a cooperative society as per section 194C (the definition of Specified persons).

With Regards,
Ritu Raj



Anonymous
20 June 2014 at 17:10

Applicable course (old/ new)

Sir,
I had registered under the Old course for CS Professional for june 2014 exam but could not appear for the same. I wanted to know whether exam to be held in december 2014 would be on new syllabus only or old syllabus too i.e whether I would need to prepare for the new syllabus instead of old one under which I was registered.
Please help.


Arun

Hello sir, Greetings from Arun Shanks, Forwarding the mail from HDFC bank. Please help to understand the notice received. I spoke to the Mumbai Treasury office of the HDFC, they suggested to ask C.A to understand better as they would well aware of this. They want this certificate before 30th June. Please help, regards, Arun Shanks. Statutory Auditors Certificate. Dear sir/Madam, we find from our records that you have entered into Foreign exchange derivative contracts with our bank in FY 2013-14 against underlying exposure viz contracted exposure Extract of FEMA regulations: As per RBI guidelines A.P. (DIR Series) Circular No.32 dated December 28, 2010 issued on Comprehensive Guidelines on Over the Counter (OTC) Foreign Exchange Derivatives and Overseas Hedging of Commodity Price and Freight Risks. in the case of contracted exposure -AD Category I banks must obtain "Quarterly certificates from the statutory auditors of the users, that the contracts outstanding at any point of time with all AD Category I banks during the quarter did not exceed the value of the underlying exposures" Further, as per RBI guidelines vide A.P. (DIR Series) Circular No.2 dated 04 July 2013, while offering hedging products under the contracted exposure route to their customers may obtain an annual certificate from the statutory auditors to the effect that the contracts outstanding with all AD category I banks at any time during the year did not exceed the value of the underlying exposures at that time.


MVN Ramkumar
20 June 2014 at 16:46

Tcs 1% is claimble or expencess

Dear All,

Greetings..

We are purchasing chipper dust with TCS 1% for power generation. I want to know weather TCS is claimable or only expenses.

Thnks in Advance
M.RamKumar
99498 40959
Rajahmundry
Andhrapradesh


Narendra Shah
20 June 2014 at 16:45

Rebate glaim

Dear Sir,
As per Notification No. 41/2004 CE (NT),after submission of Rebate Claim of Inputs used in mfg. of exported products, within 15 Days query memo shall ve issued and if No query Rebate Claim must sanctioned in time period of Two Months.
If Department had no issue Query Memo and not sanctioned Rebate Claim within time period of Two Months and Shaw-Cause issued after Three Months of Date of submitted Rebate Claim.
Pl. inform issued Shaw-Cause was legal or illegal? If ilegle, Pl. inform circular / Trade Notice or Department Clarification. Also inform can we demand interest on Late sanctioned Rebate Claim?
Thanks with Regards,
Narendra Shah


venkatesh k
20 June 2014 at 16:45

Income tax liability

REQUEST TO CALCULATE INCOME TAX FOR THE YEAR 2013-14

INCOME FROM BUISNESS 35.00
LESS DEPN 9.6
NET INCOME 25.4 LAKHS

NO INCOME FROM OTHER HEAD OF ACCOUNTS


Nitesh Parmar
20 June 2014 at 16:42

Change in promoters

I have applied for name approval to mca for private ltd. co. in which i have shown two promoters name as a director, which has been approved by the MCA. now at the time of incorporation i want to change one of the promoter/ director from whom login i have applied for name approval can i do so.



Anonymous

Is there any way to skip the primary contact details to be updated while login to the income tax page?





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