What is the penalty for filing Belated VAT Return, If the turnover contains only exempted goods and nil tax is payable?

Hi all,

I need to know the entries related to TDS. The issue is- one exp is disallowed due to non deduction of tax on the same. Now the client paid the tax on the same on the currnet year. Now how to show this in to the books

Bank Overdraft is an Asset or a liability for a Bank?

My company is in Chennai. I received one order from Bangalore but the material despatching place is Hyderabad. Is it possible to raise invoice from channai with ED & Sales tax against form 'C'. Is there any other formalities are there for taxation and road permits?

Dear Sirs/friends,

Wishing you a very Good day.


In our Private Ltd Coy, for the F/Y: 2004-05, We deducted an amount of Rs.95,546/- as TDS and we issued Form-16A to the Deductees.

The above liability paid in the foll.F/Y: 2005-06 on 25.05.2005 vide UBI Che.no: 721695.

In the mean time our office staff wrongly paid an amount of Rs.93,378/- on 31.05.2005 vide UBI che.No: 721700.

For the above Rs.93,378/- we have not issued any Form-16A to any body.

Hence, in my opinion it should be treated as an unclaimed tax, deposited paid by us.

We’re keeping that debit amount in our Balance Sheet under the ledger head “ TDS-Debit” for the past F/Y’s: 2005-06,2006-07,2007-08.

Now as a final decision we want to know why it not claimable & how it should be written-off in this f/y: 2008-09.


Kindly share your expert knowledge with us to enable us to save the above unclaimed amount.

A case has gone to IT Dept...It seems there is a decision of Mr.S. Rajaratnam - Former Member, Income-tax Appellate Tribunal, favouring my actions on TDS ( a query I had already asked and received solutions). Can someone guide me as to how to retrieve it?.....

Dear sir

I have read that in the valuation of current investments, if market price of the investment is increased subsequently

profits can be reversed if it was reduced due to lower market price than the cost.

I want to know how can there be any subsequent valuation of current investment as curent investments are only held for a period of one year and valuation can only be done on the balance sheet date

Please anyone clarify

Dear sir

I have read that in the valuation of current investments, if market price of the investment is increased subsequently

profits can be reversed if it was reduced due to lower market price than the cost.

I want to know how can there be any subsequent valuation of current investment as curent investments are only held for a period of one year and valuation can only be done on the balance sheet date

Please anyone clarify

Hi

My name is Sandeep and I am a CA final student(OLD Course) and I really need your help to get the answer of my below given queries.

In the month of April 1995, I registered myself with ICAI.

I had cleared the 2nd group of Final in Nov. 1998 and as of now the 1st group is still pending with me since I haven't got the proper time for prepration for the last group.

I am planning to appear in the first group (the only group left) in coming Nov 2008 attempt.

I have 2 queries related to my eligibility in coming examination.

1. Do I need to complete any formality related to re-registration or anything like to appear in Nov. 08 exam, last time I appeared in May'07.

2. What would happen if I'll not clear my this last group till Nov'09 (the last attempt under old course). In that case will i have to appear in BOTH group under new syllabus or the exemption of one group will be there in new course as well.


Thanks for looking into my request

Warm Regards
Sandeep