Sir,
Please clarify the following queries.
1. Can a 100% EOU, STP unit can claim Sec.10B benefits for the A.Y 2010-11 ?
2. What will be situation if the unit has made some domestic sales as well( Domestic sale was below 5% ).
Sree Prakash

pls give me guidence regarding accounting entry for Cenvat Credit on Fixed Assets???
Its Urgent
Note That Please dont forget to mention the appropriate head to be for the ledger

If an employer is sending some eligible employees and its family members for foreign tour then whether the expenditure incurred towards the family will be allowed as an deductible expenses in the hands of the employer?

Whether any amount will be traeted as perquities in the hands of the employee.

Thanks

Whether Octroi charges paid in cash above Rs. 20000 will be disallowed u/s 40A(3)?


Thank You.

Hi,
I am in a retail trade and if I file Return for the FY 2010-2011 under section 44 af with the turnover of Rs 15 lac and profit at @ 11%=1,65000RS, do I have to maintain any books of accounts.The Turnover for the last 3 years has been on an average below 15 lac.....

Now can I claim deduction under Section 80 C(Home loan principal repayment.LIC Premiums etc) and under section 24(Home Loan Interest Payment)

For How long I will have to keep the books of Accounts of previous years.Can ITO pick ITRS of previous years say after 5 years
THX IN ADVANCE

My one of customer who is not required to be registered with excise Dept. had send the material in normal challan and asked us to do the job work.

As a registered unit what short of procedure to be adopt to do the same.

Whether excise dept. asked for any form, or asked to pay duty on total assessable value.

or we have to pay service tax

we are doing galvanising of MS-Angle.

AS per excise galvanising is amount to manufacture.

Please advice on this matter urgently.

Dear sir/mam,

i have registered my company in march 2009 the company has not yet commenced its operation yet kindly suggest me that how much return i have file ????
is the audit from ca/cs/cwa is necessary for such company???

plz guide???

Hi,

I am computing long term capital gain for a property. The Govt valuation for the property is 17.5 lacs whereas the property was sold for 9.5lacs. Actual mkt value of the property is also around 9.5lacs. The law says that the higher of Govt valuation and sale proceeds shall be taken for tax computation. But in this case the mkt value is actually much much lower than govt valuation, resulting in much higher tax liability...Are there any case laws where lower value has been accepted?

If somebody has not made an entry in Bank book but the amount is reflected in Bank statement and year is closed & in BRS this amount is shown under the head amount debited/credited by bank but not entered in bank book, then what will be the treatment in next year.

The company pays lumpsum amount as subsidy to canteen contractor.Plz suggest on following issue that Whether Subsidy is liable for vat:

1) Assessee is running canteen in factory premises U/S 46 of factory act

2) it provides canteen facilities to employees only at susidized rate. Company deducts Rs.100/- p.m. per employee for such facility.

3) along with regular contract payment, the company pays lumpsum amount to caterer based on increase in Consumer Price Index. the caterer issues bill recovering service tax on the said amount.


Reference:
1. Tisco General Office reacreation club
126 STC 547
2. M/s Bayer India Ltd. DDQ No. DDQ-
11/2001/Adm-5/73/B-1 dated 9-10-2004