dear sir,

we have provide labour to manufacturing company for maintenance as well as goods loading and unloading purpose so under which category we have to register in service tax so kindly help me ? as earlier as possible

facts : 1)assessee is a pvt ltd co. 2) director and employees, when are travelling, many times use cab services. 3) the cab service provider is a proprietary concern or a partnership firm 4)the bill of the cab service provider does not charge any service tax. 5) bill is charged on per km basis. question : will ST as per reverse charge mechanism apply ?

Interest income from investments in Venture Capital Funds (VCF) The Finance Act, 2012 has amended section 10(23FB) & section 115U of the Income-tax Act, 1961 as a result of which from the FY 2012-13 onwards the VCF (Fund) is eligible for pass through under section 10(23FB) of the Act in respect of any income derived from venture capital investment and the income of the Fund will be chargeable to tax in the hands of its beneficiaries/investors in accordance with the provisions of section 115U of the Act. Let us take the example of a VCF which invests in real estate projects in the form of Non Convertible Debentures (NCD) and for a financial year earns accrued interest of Rs.10,000 for the investor and incurs expenses to the tune of Rs. 2,000 to earn such interest income for the investor. The Fund will obviously distribute only Rs. 8,000 to the investor as and when it receives the interest income. The queries in this regard are follows:- 1. How interest income is taxed in the hands of the investor ? whether on gross basis (ie. Rs.10,000) or net basis after expenses (ie. Rs.10,000 less Rs. 2,000 = Rs.8,000) ? Sec 115U does not make any specific reference to deductibility of expenses. Alternatively can the investor who declares such interest income as ?Income from other sources? in his tax returns claim such expenses as deduction u/s 57 of the Income Tax Act. In the above context it should be noted that the VCF gives annually a statement in prescribed form to the investors, which provides details of proportionate share of interest income due to each investor (Rs.10,000) and also the proportionate share of expenses incurred by the fund to earn the interest income (Rs.2,000). The VCF also files annually Form 64 with the Income Tax authorities in which they only declare the gross income (Rs.10,000 in this example) against the investors PAN number and do not show the expenses. 2. Sec 115U states that the income shall be taxed in the hands of the investor on an accrual basis in each financial year whether or not such income has been paid or credited to their account ? so what happens if the investor has offered the income for tax on accrual basis and a part of this income is not received by him in the later years?

My client is consultant engineer hired by company. Can it is possible, that company pay service tax on behalf of my client. Is there any notification in service tax that company pay 100% service tax. Please provide me necessary information.

Thanks

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?