I have filed my it return (Propritership) with 44 AD and having @ 8% taxable income Rs. 102116/- while my taxable income as per profit & loss a/c is Rs.156436/-
which amount should be shown in capital a/c and also in computation ?
any j.e as on 31st March for that ?
pls guide me its urgent
A pvt Ltd.company have its assets but not running business currently. So there is no turnover and profit during the year.
Can the company charge depreciation on its assets (Machinery etc.) for the year?
Dear Professional experts, please clear my query relating to sec 40A(3)of I.T Act:
An assessee who purchase goods on credit worth Rs 1,20,000/- & make the payment of the same in cash on diff. dates below Rs 20,000/-. Does it is hit by the provision of sec 40A(3)?
Please advice....
One of my client engaged as labour contractor in Rolling Mills & turnover/receipts exceeds to Rs 10 Lacs, kindly resolve following queries:
1. Does he require to get them self regd.
under service tax?
2. If yes, then under which category it will fall? There are 2 category in service tax regarding this "one is manpower recruitment agency & another is business auxiliary service". There is no specific category for labour contractor. Pls suggest.
3. Does any abatement for service tax?
4. Does require to pay service tax on
Pf/ESI paid to the labour employee?
Earliest reply is highly appreciate.
Regards
Hi
Hope you can help me in clarifying calculating service tax for software services in following scenarios:
As an example. Suppose I charge 15,000rs as development charge for making a custom software. My expenses incurred during this service excluding this said 15k, include 3k in phone calls/travel.
1. So, is it that my net profit 15k-3k = 12k is my gross taxable income ? I then have to compute 12k * (10.3/100) as service tax ?
2. If the client does part payment, i.e., he pays 7.5k by march 31st, 2012 and remaining by may 31st, 2012. Do I only have to pay service tax on 7.5k receipt in march ? OR do I need to pay service tax on the invoice in total (i.e., 15k) ?
3. Suppose I calculate service tax on my invoice of 15k and I start doing work as expected. In case the client is fraudulent or is in condition to not pay me my fee. I'm in loss as I've received nothing from the client. but still do I need to pay service tax on the invoice for which I've received no payment ?
Regards
Athif
Dear all,
My business is job work for stitching of garment, which head of service tax cover this business for the purpose of service tax registration( st-1).
Thanks
Hello sir, my brother has completed his ICWA inter and one group of final, he has done his MBA from an average institute in kolkata. He has 4 years of work experience. Now he wants to do another MBA/PGDM from a top institute or an executive MBA. He is 30 years old now. Is it alright if he goes for an MBA/PGDM at this age with 4 years of work experience. please reply...
Answer nowDear Sir/ Mam,
I am not so good in reading but I have grasping power, i can easily catch the thing,my aim is to be a CA so i want to register for CPT but I have fear to read and also I want to do job due to some family problems. So is it possible to do CA and how can I come out from that fear. Please I want your suggestions.
My client has been allotted a PAN. All the details mentioned on the PAN card are correct but when I submit those details on Income Tax site to get that PAN registered it shows that first name does not match with Income Tax Department's data.
How can I solve this matter.
Plz reply as soon as possible.
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