If I made an investment in the bonds under section 54EC before expiry of 6 months, by way of cheque and the stamp on the bond is of the date of submmission of cheque. but, if the clearance of cheque is after the date of expiry of 6 months will i be able to avail the exemption? the assessing officer denies to grant the exemption. please resolve as soon as possible.

We had received work order (civil work) worth 60 lacs. Under T&C party will pay Service Tax. Against the goods at site the party had given us advance of Rs. 7,10,505.00 after deduction of 3% WCT and 2.266% TDS.

Now my question is:
Party is not paying Service Tax at the time of issuing us Advance. Party says this is advance and not payment against any bill. Service Tax wiil be paid un release of payment against any bill.

Do I have to pay Service Tax upon receipt of advance. If yes then at what rate?.

Which is the best insurence plan to mainimise the individual income tax

What is the difference between sales and turnover?

Dear Sir,
I am doing my C.A. Final.
I am willing to take up the Actuarial Course of The Institute of Actuaries Of India. How far wil it be beneficial if i practice C.A. And can i earn more as an practicing Chartered Accountant if i am Actuary also. i.e. can i also practice as an Actuary while practicing Chartered Accountancy proffession.

Respected Sir,

Suppose if I had Deducted and paid excess Tds u/s 194C then

A. Can I adjust it against future payments to same party (deductee),

B. Can I adjust the same against payments to other parties (where Tds is Deductible u/s 194C only)

C. Can I adjust the same against payments to other parties (where Tds is Deductible under any other section other than 194C)

D. If yes, then can I do the same in respect of excess computation and payment of interest on late payment of TDS

Hi Experts
My sister has completed B.Com from Delhi University.

Which one is better for Her
a)CFA ICFAI
b)CPA ICFAI
as the Us won's re too expensive for us
Please suggest any other course for her which would help her to make a career in the Finance Industry...

My query is regarding suspicious transactions that a bank has to report on weekly basis. if a person has withdrawn about 120 lacs in cash in about 7 transactions from his saving account, which is new a/c about 3 months old.He also has same sort of deposits and there are similar trasactions other than in cash. Should this type of a/c be reported in the STR.

One of our company director is going to Hongkong for training on a particular machine for which we need to pay an amount of 500 Euro to a German company. Is TDS required to be deducted from the remitance of 500 Euro to that german company under Sec195 of the income tax act.

I recently bought a independent house. The total cost of the project is 50Lacs, and the breakup is as follows:

Plot Value=9,33,000

Cost of construction=40,67,000 (Gross Value)

The builder is charging me Service Tax @ 4.12% on (40,67,000)=1,67,560/- (Compounded Rate). Why cant he charge at Normal Rate i.e. @ 12.36% on (33%*4067000)=12.36%(1342110)=1,65,884/-. The difference between Normal Rate and Compounded Rate being 1,676/-. Not that its a huge amount, but for my clarification. Would someone shed some light on this ?

Coming to the Main point, the builder is charging me VAT on (GrossValue+ST) as follows:

4%(4067000+167560)=4%(4234560)=1,69,382/-

Is the above calculation correct??? I was under the impression that VAT @ 4% is calculated on Gross Value only, but the builder is including the ST component in this calculation.

So which calculation is right? VAT@4%(GrossValue) or VAT@4%(GrossValue+ST)?

The difference between 4%(GrossValue) and 4%(Grossvalue+ST) is working out to Rs.6702/-. Hence I need the clarification. So can anyone enlighten me on this issue??

Thanks.