Hi

Whether there is any need to deduct tax at source on payment being made for Turnover Tax. In a specific transaction, BSE bills to its DP for the turnover tax and the DPs makes payment to them. The turnover tax billed to DP is on actual basis where as the DP collects turnover tax from the client (i.e normal person trading in shares) on certain percentage of the trade.

The question is...whether the TDS is to be deducted on payment made to BSE(for turnover tax)? (If yes, under which section?) I suppose, the TDS to be deducted, if any, will be on that amount for which the payment is being made to BSE. Also, the amount has no impact on the P&L of the company. It is routed through Balance sheet. 1st the liability is created when the trade takes place and thereafter on the basis of bill raised by BSE, payment is made by debiting this turnover tax account!

IS THERE ANYONE WHO CAN ANSWER THE FOLLOWING QUESTIONS

1) WHAT IS THE PROCEDURE OF CARRYING OUT VAT AUDIT UNDER MVAT

2) IN A PARTICULAR MONTH SAY JUNE, THE DEALER HAS CHARGED 4% INSTEAD OF 12.5%, SO WHILE CALCULATING INTEREST WHICH PERIOD SHALL BE CONSIDERED JUNE TO MARCH OR ONE MONTH THAT IS MARCH

3) DEALER HAS CONTINUED TO CHARGE THE RATE 4% THROUGHOUT THE YEAR INSTEAD OF 12.5% AND FILED THE RETURNS ACCORDINGLY. WHETHER ALL THE RETURNS SHOULD BE REVISED OR ONLY LAST RETURN THAT IS MARCH SHOULD BE REVISED AND WHAT IS THE MANNER OF INTEREST CALCULATION.

PLEASE GIVE ALL THE INFORMATION THAT U HAVE ON THE MVAT AUDIT PROCEDURE AND MANNER IN WHICH FORM 704 IS TO BE PREPARED

Hi...

I would like to know what would be teh difference between Pvt Ltd Co and Ltd Co ( Closely Limited Co and not public limited ) in terms of company formation including no of directors, no of shareholders, minimum capital, etc.

E.g. ABC PVT LTD
ABC LTD ( Closely Limited )

Kindly suggest the options asap

Thanks,
Prashant Sawant

Sir if someone shows his income from job work Rs. 15 Lakh then to what extent he should booked job work charges against this job work income.
Is there is any internal circular issued by the I.T Dept. in this regards?

Plz help me

Thanks in advance
Shammi

i have completed my articleship in feb..and duly submitted form 108...in march i was informed by icai to serve excess leave....i am giving my finals this may...my query is whether i can serve this excess leave after exams and which form i need to submit in that case...
Also...will this constitute break in articleship or will it be considered as continuity in service since i have already completed my 3 yrs of articleship...
plzzz help...

one of employee in our compnay has purchased a property last year in his wife name(owner of the property) but finance the loan in the joint name in which first name is his wife and second name is his own(co-borrower)and he(co-borrower) is pay all the installments of the loan. now my question is that is he take the benefit of interest and pricipal amount if yes pls. give me the such reference of any book or e-book, if not than who can only claim the benefit and how the co-borrower can save his own income tax. please clearify me in detail the 31st march is very nearby.

thanks

Whether TDS is applicable on payment to NRI for purchase of Immovable Property. If yes, what is rate of TDS?

Whether any exemption for non deduction of TDS. If yes on What Conditions?

Dear Sir/ma'am

The Facts are as follows:

Company A (Indian Company) is subsidiary of B Company (Foreign Company).
A co. has many Companies as group Companies.
B Co has appointed a delegate in India to supervise A Company and A Company's group Companies ( Entire Indian operations). That delegate is appointed as the Chairman for A Company and its group Companies. All the Companies are Public companies.

Query:

1) A Company wants to lend money to its group companies. Will the Section 295(1)(e) of Companies Act 1956 be applicable in this situation?? please help me with case laws.

Thank You.
Regards

Hi Sir,

Whether the amount of stamp duty and registration charges for the purchase of Land, which will be utilized for constructing a residential house property,incurred by an individual will be eligible for deduction under sec 80C?

Thanks & Regards
Smenon

Sir

Pls let me know about the Courses in the Field of Taxation apart from CA/CS/ICWA.

I have done M.Com + MBA(Finace)(Through Distace Education) and presently working with Limited company as Accounts Officer.I want to continue my studies in the Field of Taxation

Is CFA from ICFAI has relevance?what about their legal dispute with CFA-USA


You can also send me answers on sanjeev12974@yahoo.co.in

Regards


Sanjeev Sharma