we have deducted tds on pyament of foreign company for professional & technical services in india.

now we have to furnish the TDS return, what is the process of furnishing TDS qarterly statement because PAN of the deductee is not available

Hi, I am doing audit of one Trust employing more than 100 employees. The said trust is also employing on contract basis who include retired Govt. Employees etc. whether, Provident Fund Act is applicable to contract employees or not & if possible kindly quote the reference section of the respective act. The said client trust is deducting PF of its regular employees but not of employees on contractual basis.

CA. Lahoti, Pune

for a garment based pvt ltd co., what are all the main areas to be covered for internal audit?

Dear Sir/ Madam

One person sold his long term plot in june 2008 and now he applied in june 2009 by sending 110000 rs for self financing scheme and one residential flate has been alotted to him. but he never deposite any sum in deposite scheme. he has to file his return of 08-09.

Now pls tell me, what he can do to get the deduction of Sec 54F.

Thanks,
Abhishek Jain

is any one have tayals institute nots for Business Law, Audit, MICS etc.?
please reply to 9820945317.RATAN

Preliminary Expenses are Miscellaneous Assets they can not be said as Deffered Revenue Expenditure as no revenue is generated by the expense in any subsequent period then why do we w/off them yearly in accounts of a company (are they really considered as Deferred Revenue expenditure or they are w/off as it is provided that assessee can w/off them in the Income TAx act)

Dear Sir/Madam,

What are the taxes (e.g. Service tax, VAT, WCT, TDS etc.) applicable to a civil & interior decorator and how (tax break-up).

Two contractors (both civil and interior decoration) are carrying out their works at my office.

We are situated at Chennai, Tamilnadu

Total cost for the civil contractor is Rs.1,00,000/-
Total cost for the Interior Decorator is Rs.8,00,000/-

What type of taxes will apply to the above vendors? If the contractor provides relevant registration, the particular tax will be exempted.

I am not an accountant but for my job I need to know the procedure and calculations.

Pl. help me with some examples.

With regards
MadhuSudan

My friend has cleared her PCC in Nov,09.
She has sent his registration form for CA-Final.
Her articleship will be completing on 31st March,10.
Can she give Final Exams in May,10 ?


Somebody has told me that there should be a gap of 9 months between Final Registration and exams.

Thanks in advance.

If a developer develops a land of some others(generally this happens in real estate business) what are the tax consequences in the case of developer and the land owner?

Below are my doubts in a case....

This is a case where the land of Mr X was given to a developer Mr Y in the year June 2008 under GPA for construction of flats for sale. As per the agreement the land owner is to receive 2 flats after the construction i.e., April 2009. The rest are to be with the developer for sale.

In this case... Is Mr X chargeable to capital gains? then which amount is to be taken as sale consideration... his land market value or the market value of 2 flats received ? and when he is liable to pay tax?

In the case of Mr Y... does there any issue of capital gains? If not then in the year 2008-09 as there is only construction and no sale, is it right to transfer his construction cost to WIP ? In the year 2009-10 he sold the rest of the flats with him.... so the entire sale value of flats including land value should be taken as business income?

Kindly any one give clarity to me in this regard.

Thanking you

The indian company is making payment in USD to foreign company established in USA.
The payment is for the participation in conference held/ organised in Sri Lanka.
Also the foreign recipient company is having Permanent Establishment in India.
Whether TDS to be deducted from the payment made to foreign company?