DEAR SIR,
IN WHICH SECTION TDS IS TO BE DEDUCTED ON HIRING OF CAR & OTHER HIRE CHARGES LIKE ELECTRIC EQUIPEMNETS ETC.

AND ALSO PLEASE TELL ME THAT WHETHER TDS WILL BE DEDUCTED ON SERVICE TAX OR NOT??

THANKS AND REGARDS

VAIBHAV GORECHA

If any amount is deducted from a party wrongly and also deposited, then in such case how it can be adjusted or revised? can the money deposited wrongly be adjusted in any other party account?

On hiring of car whether TDS would be deducted as rent(u/s 194I) or as contract (194c)

I want to study foreinsic accountancy from ICFAI university ? will that be a good decision for me? I am pursuing CA & ICWAI final.

can anyone tell me what is the eligibility criterion for applicability of bonus payment act as per latest provisions?
Is it applicable to cooperative banking society?

any website for the same?

WHAT RATE CAN APPLY ON PRINTER FOR DEPRECIATION AS PER COMPANIES ACT.1956 AND AS PER INCOME TAX ACT.1961
PLEASE REPLY ME.

A bank provides taxable as well as exepmted sevices. but does not maintain seprate books for that.now if bank pay service tax on input service like hire expenses of car for there employees n it is not possible to provide direct relationship between taxable output services n car hire expenses can bank can bank utilise credit on hire expenses of car?

Can any body suggest me which reference books i should use for my cs(new course)?

Hi,
We have one query regarding CENVAT Credit under Service Tax. The case is as follows:
There is one company, which has two units. One unit is registered with STPI and exporting the software out of India. Second unit is domestic unit and providing software services in India. Second unit is registered with Service Tax Department with effect from 08th of April 2008. Books of accounts of both the units are maintained separately. The second unit (domestic unit) has issued its first invoice on 31st of March 2008 for more than INR 800,000.
a) Whether this unit can take the credit of service tax on input services paid by it during the financial year 2007-2008. If it can take the credit, on input service of how many periods, it can take the CENVAT Credit?
b) During the financial year 2008-2008, whether the credit of input services received by first unit registered with STPI and exporting the software out of India can be taken against providing services by domestic unit.
c) If both the services are provided by one unit and no separate records are maintained for both the services, whether we can take the credit of input services received by the unit for providing both the services against the domestic services.

With Regards,

Gourav Jain CA

REGARDING BONUS:

Computation of Bonus payable for the year involves an elaborate process. It starts with adjustments to Net profits earned during the period( Please refer Section 4 and Second Schedule of Payment of Bonus Act, 1965).


REGARDING TDS ON SALARY INCOME:

Bonus shown as payable to employees is taken into consideration for computation of tax on Salary income of employees . Further TDS deducted from salary is to be paid to IT dept before 7th April( For March month)



CONCLUSION:

It means the bonus computation is to be finalised before 7th April of a year. For this company has to finalise its balance sheet before 7th April.



ISSUE / QUESTIONS:



1) Can anyone please let me know how do companies practically manage to finalise a Balance sheet before 7th April?



2) Even if the company somehow manages to finalise its balance sheet before 7 April, there is possiblitlity of Auditors recommending some changes to finalised Accounts sometime later than 7 April. How do companies deal with that?