What is the implication of VAT in IT Industry in general since the output does not suffer VAT.

How do IT Indistry in Karnataka get refund on input tax on capital goods?

Does the refund come of its own or do we need to apply for the same in any prescribed format?

Do we need to file an Annual Returns for VAT?

Is there any audit to be done for VAT

Dear sirs,
one of My client is Having service tax reg.with Business auxilary service Cat. and he is paying service tax as a propretorship base besides that he is getting Rental Income Below 10 Lakhs whether he has to pay service tax on that Rental income or Not and now he is going to convert his Business in Partner Ship firm and in that firm he is one of the partner so now what ever his Rental Income is less than 10 Lakhs only, but I hered if one preson having income under proprietor ship and same person is having Partner ship business in service tax Law they will club the both income. whether it is correct are not, pl. give me a detailed clarification. if he is converted his business into Partner ship he has to pay the service tax on what ever rental Income is less than 10 Lakhs or NOT

If a person trades under the BTST(Buy today sell tomorrow) scheme whcih is being offered by ICICI to its online share traders,is the profit made considered as speculation profit?

my query is that:
in Govt. organisation salary for tds purpose is to be taken 1st march to 28th feb. but during my articleship in one new establish govtorganisation salary is paid on last date of that month (same month, thus for tds purpose month should be taken 1st aprol to 31st march because on accrual basis.but employee refused to take the same ,in next year they have to deduct tds on 13 months salary , but they said it will increase their tax liability, becuase 13 months salary will be Rs. 260000(@30%)

Hi,

I want software for budgeting which should have web interface whereby every HOD out their budget and outlook. All the individual budget sheets consolidate authomatically and allocation of support cost can be done automatically.

Please give the reference of vendor at
mehul.dedhia@hurix.com or mehulddedhia2002@yahoo.com

Regards,

Mehul Dedhia

Which one to prefer Ahuja or Singhania for Ca Final.

I have taken office on rental basis in which I will be conducting the renovation and expenses incurrent are as under. Please let me know which should be considered as revenue expenditure and which to be capital expenditure.

· New flooring expenses 50000/-
· Furniture expenses 100000/-
· Color expenses 25000/-

If they are considered as capital expenditure the under which head the from which date depreciation (As per companies act) should be calculated as expenses are incurred at various date till the office is finalized

I had sold goods in the month of Jan’08 and same were return in April’08.In this case I would like to should we give the effect of sales return FY07-08 or FY08-09.Can we adjust sales return in FY07-08 till the audit is finalized.

Hi Sir / Madam

My query is regarding to Last years expenses.
e.g. If any expense of previous year still pending to entered in our books & our balance sheet is already finalized. Even Income tax return is filed. In that situation how can we book the expense for last year?
Can we show the expense in current year?
Is it possible that the expense book in this year?
If Yes, then How?

Regards
Anil

My client asked me Why should i Register under MSMED Act, What i'll get if i do so? how should i register for the same?

Note: small IT company in chenai