Am a student one by six rule is not applicable to me for filing my return and I do not have Taxable income more than exemption limit. Am not Filing my Return of income.

My question now is

The party has deducted TDS for some professional service ?
How do i claim Refund ? or what is the procedure I have to follow in such circumstances ?

as per s. 199 , credit for TDS is available only on the year in which the corresponding income is accounted.
But this is sometimes unworkable for those who maintain accounts under Mercantile system . Think about an individual contractor who follows mercantile system. He completes a work in February 2007 and issues a bill to the Contractee.Naturally he passes a journal entry in his books by crediting 'Contract Receipts A/c' and debiting ' Contractee's A/c'. But the Contractee makes payment of the said bill only in August 2007 and deducts TDS.
So the date of payment as per TDS Certificate will be August,2007. How can this individual assessee file a Return in ITR - 4 for AY 2007-08 by claiming this TDS in the Return - even that before the last date of filing Return ie 31.7.07 supposing that he is not coming under 44AB?

WHEN THERE IS UNAUDITED INTEREIM FINACIAL STATMETNS, IS THERE ANY REQUIREMENT FOR ENTERPRISE OTHER THAN COMPANY TO FOLLOW AS-25, AND OTHER THING WHEN IT IS COMPANY AND UNAUDITED FINANCIAL STATMENTS ARE THERE AND AS-25 IS NOT FOLLOWED THEN IS THERE ANY RESPONSIBILITY OR OBLIGATION TO REPORT TO IN STATUTORY AUDIT REPORT OF STATUTORY AUDITOR.
PLEASE REPLY.

AS PER INCOME TAX ACT, TAX CAN ONLY BE LEVIED ON INCOME. AS PER DEFINATION OF INCOME, WHATEVER FBT IS CHARGED ON EXPENSES IS NOT COVERED THEN CHARGABILITY IS VALID OR NOT ?
PLEASE GIVE ME ANSEWER.

respected experts,
i have cleared PE1 in May 2006,i have given my first attempt for PE2 in Nov 2007. i wasn't able to clear PE2 this time, now i want to opt for single group only in May 2008.
if i give one group in May 2008, then when would i be able to give the second, whether in PE2 or PCC,
secondly, if i appear for both groups in May 2008 exam and clear only one group, then when i be able to give the second, whether in PE2 or PCC.
thirdly, if i m not able to clear in May 2008 both groups, then i will be converted into PCC, for that would i have to clear 18 months training or direct exam attempt,
fourthly, if i convert my registration to PCC then when i will be able to appear for PCC atttempt.

also give ur suggestions of better option.

Please throw some light on what are press notes and what is the difference between Circulars, Notifications and Press Notes?

Which is more relevant and has an overiding effect over the other?

Dear All,

If our company developing the website and doing desktop application for foreign and Indian clients as well, I would like to know what type Taxes will be applicable on this type of business/transaction?
Should Indian client deduct TDS on it and also should we need to pay Service Tax on it?
Please solve my query...
Regards
Subodh

I got Registered myself in New Course of final examinations of CA.But im not aware when my exams will due.Pls confirm me whether it will due after 2 years or 2years 6months of articleship.

In one of my interview i was asked to sort out seven diffrences between Statutory Audit And Internal Audit?

But , i was able to give only two diffrences.

Can any one give me more diffrences on
Statutory Audit And Internal Audit?

regards

Premal Gor

We are mfrs of bulk drugs in Andhra Pradesh and doing job work to others.Receiving the raw material from the party and converting into intermediates/semi-finished goods.

During the period 2004-05 the sales tax assessing officer passed order considering the job work/processing charges from P&L as unclassified goods @ 12%. is it correct and can i get revised order and tell me procudure.