hello, i am in 3rd year bachelor of management studies. i want to do C.A. i am confused whether to pass cpt in december 2014 or take direct entry scheme for ipcc.

can we take vat input credit on assets which is being use in plant?

Can someone tell me what does service of notice mean ??
Is it 30 days from the date of notice OR 30 days from the receipt of notice ??
Also, is there any case law, section, circular etc which substantiates the same ?

Thanks & Regards
Megha

i was register with Service tax with provide of service in single primses And got STC-SD002. Afterthat, the branch of our company is opened in different place of other state and provides service there but accounting procedure is done at H.O.

my question is
whether i should be taken centralization registration of ST after amend of previous one.
What is the procedure of doing to take Centralized regi if amend

I m preparing for CA finals. RTP has a recent case of Oriental Ceramics & Industries lts (2013)358 ITR 49 Delhi- where it has been held that Computer & its peripherals including COMPUTER SOWTWARE are to be depriciated under block of 60 %. On the othr hand, amendmended defination of ROYALTY as per FA 2012 includes payments for Computer software. explation says that IT Rules provide for depre on softwares at 60 % but now as per IT ACT software is a royalty payment and is thus allowable expenditure u/s 37(1) subject to TDS as per 40a(i) / 40a(ia). Rules cannot override act and so softwares are to be expensed out. what should i write in exam considering the contradictory decision of the Delhi HC.

Dear Experts,

Kindly help me solve this query.

While auditing my client's books, I found that they had debited the professional charges on a later date than bill date so as to extend due date for payment of tds. However the date of payment was correct. Is this treatment acceptable?

To be exact,

Date of bill - 26/4/2013
date of payment - 30/4/2013
Date of entry - 1/5/2013

Entry made is as follows:

30/4
Party 5056
To bank 5056

1/5
Prof charges 5618
To TDS payable 562
To Party 5056

Please also explain that in this case, was tds payable upto 7/5 or 7/6 because the payment date was 30/4.

Dear Sir

We have taken a shop on rent in a mall. We pay to the mall management charges for maintainence and electricity.

Under which section should we deduct tds?

In F.Y 2012-13 i.e. A.Y 2013-14, my income is below exemption limit but employer deduct TDS. I have not filed return till now, so if i file now, whether penalty of 5000 would be imposed or not?

sir , please make me clear that if an assesse is earning salary from a company or remuneration from a partnership firm and also paying intrest on unsecured loan taken from the other party then whether that intrest expenditure would be allowed as expenditure in order to calculate the NET INCOME from that head or it is necessary that , expenditure is in the nature of other source so it can be only be adjusted with other source income . please clarify it as soon as possible with some case laws links also .

Good Morning

In sec. 54 exemption is available for purchase of HP before one year of transfer or two year after transfer.

Eg. On 1/9/13 I purchased a house and then I sold my old house on 2/8/2014. Exemption is available to me u/s 54.(i.e. purchase a house within one year before the date of transfer)

Question:
1) When I already purchased the house before the sale of old house then why exemption is available, even if i have the money as it is, I don't use the amount from sale proceeding. What is the logic?