I took a continue consultancy of rs 500000 for two years starting from f.y. 13-14. In f.y. 12-13 I was not in tax audit limit so I dont deduct tds on rs 300000 bill which consultant give to me. I paid 200000 rs to consultant for his 300000 rs bill and 100000 rs is outstanding. In f.y.13-14 I will be in tax audit limit so I have to deduct tds on bill which consultant will give me in f.y. 14-15. but will I have to deduct tds on rs 100000 outstanding amount on payment basis.

An individual was running three proprietorship firms, whereas he registered Service Tax compliance for one of the proprietorship firm and did not for rest. Both were rendering similar services. Out of three firms two firms were closed including Service Tax registered firm. In the meantime he failed to pay service tax which he collected when firm was running and failed to file ST-3 return. Three firm’s turnover totals did not cross Service Tax exemption limit. He is liable to pay service tax which he collected when business was running.

1. Whether he is liable to pay total receipts of the ST registered firm?

2. Whether he is liable to pay total receipts of three firms?

3. What are the consequences and obligation will rise in failing to pay service tax collected and failing in filing ST-3 return?

4. Should he surrender the ST-2 certificate or else he can retain the registration with claiming exemption?

while deducting tax for salaried person whether to consider 2000 rebate or not. eg. salary for employee is Rs. 230000 pa. whether to deduct TDS 3000 or 2000?

The unit is an SSI and it has not crossed limit of Rs. 150 Lakhs. Hence, as per N/N - 8/2003 - 1. Capital Goods - 100% Cenvat credit available in 1st year. 2. Inputs - No Cenvat credit upto Rs.150 Lakhs. My question is what about Cenvat credit of Input Services of Services received before crossing Rs. 150 Lakhs limit. Do read N/N 8/2003 SSI and do provide me any legal support.

On 30 April 2012, I bought a vacant plot of land in Khardah municipality of West Bengal for Rs 4,40,000 and also paid around Rs 26,000 for stamp duty.
The market value of the plot was assessed at Rs 4,40,000.
Though I wanted to construct a house on the plot, for some reasons I had to sell the plot on 12 February 2014 for Rs 5,00,000 (within 1 year & 10 months).

I want to show the gain of Rs 34,000 in my IT return for AY 2013-14.
I use Form ITR-2 for filing the return.
Are the following correct:
1. Do I have to show it under 'Short-Term Capital Gains' in the section 3 for 'From assets in case of Others where section 111A is NOT applicable'?
2. Do I show Rs 500000 as the 'Full value of consideration' in this section?
3. Do I show Rs 466000 (440000+26000) as the 'Cost of acquisition' in the same section?
4. Under section D 'Information about accrual/receipt of capital gain' do I show the gain of Rs 34000 in 'STCG OTH' column against Date '16/12 to 15/3' i.e Dec to Mar ?

Thanks in advance

Can a Chartered Accountant in whole time practice accept an appointment as NON EXECUTIVE PROFESSIONAL DIRECTOR in a PRIVATE LIMITED COMPANY and draw consultation fee on monthly basis from that company? Any regulatory conditions imposed Under Managerial Remuneration or other Provisions of the NEW COMPANIES ACT 2013 or Under Professional Ethics Code of the ICAI ​in this situation?

I have some queries,

I have given my graduation final year exams (B.com with computer application). previously in 1st year i secured 71% and in 2nd year 76%. My results of final year will be out in June 2014.

AM I ELIGIBLE FOR IPCC DIRECT ENTRY SCHEME ?

Since there are two months more left for my results to be out, can i register for IPCC through provisional registration of direct entry IPCC.

CAN I APPLY FOR PROVISIONAL REGISTRATION ?

If this is possible then , After the results are out; how to submit the proof that i have completed my graduation.

HOW TO CONFORM THE PROVISIONAL REGISTRATION ?

THE ASSESSEE HAS SPENT RS. 1,00,000 ON ELIGIBLE DISEASE SPECIFICED IN RULE 11DD. HE HAS RECEIVED INSURANCE CLAIM OF RS. 25,000, AGE OF THE ASSESSEE IS 72 YEARS
WHAT IS DEDUCTION AVAILABE U/S 80DDB FOR AY 2014-15?

By wrongly i didnt submit my incometax return for the A.Y 2011-12 and 2012-13.I am a salaried person and my TDS is also deducted.Now i receive a letter from incometax for Non filing, then i try to submit those returns online, but its shown due date is over, now what should i do with the compliance link and whats the procedure of submitting income tax return after due date. please tell the procedure as soon as possible.

we had arranged a party in The Taj Mahal Hotel. we have received the bill of food in which the hotel has levied service tax vat and other taxes in total amounting to 38.8% .The bill amount is of Rs. 129700. whether we as a compamy required to deduct tds on such payment. If yes under which section??