What is the advantage of doing CA & CS togather if student is interested in practice? is it advisable to do so???

Mr X was done TDS @ 1% as 194C instead of 194J. Can he claim deduction on net tax payable?

I filed the returns for the FY 2012-13 on 28.02.2014. Now i want to revise the returns. Is it possible to revise the returns now.

if the turnover is below 1cr the income declared should be higherthan 8%.

As per the regular books of accounts maintained:
(as per the profit and loss account)
my total turnover is Rs.75.00 lakhs
Expenses before dep dr to P&L Rs.(68.05) Lakhs
Depn on computers debited @ 10% (Rs.0.80) Lakhs
(book value 8.00 lakhs)
Net profit as per P& L Rs.6.15 Lakhs
(after all the expenses and dep debited to P&L)

Question:
In statement of Income computation sheet
Net Profit Rs.6.15 Lakhs
Add: Dep @ 10% dr Rs.0.80 Lakhs
--------
Rs.6.95 Lakhs
Less : Dep allowed 60%Rs.4.80 Lakhs
--------
N/P chargeable to tax Rs.2.15 Lakhs

whether the section 44AB is applicable because the ultimate N/p rs.2.15 Lakhs falls below 8%.
or
44AB does not apply because the n/p as per P&L Rs.6.15 Lakhs is 8.20%

can i submit the above return without 44AB.

SUPPOSE " A " COMPANY HAS BORROWED LOAN FROM " B " ( NON RESIDENT ) THEN IN THAT CASE IF INTEREST IS PAID ON THAT LOAN THAN AT WHAT RATE TDS SHOULD BE DEDUCTED ?????????
WHETHER IT IS APPLICABLE @ 30.09% OR WHAT???????

Whether compensation paid under consumer act awarded by consumer court is allowable expenditure under section 37 of ITA ?

Whether penalty paid under consumer act awarded by consumer court is allowable expenditure under section 37 of ITA ?

Hello sir i have got below message from income tax department. what does it mean please help me. ITR V of PAN ARAxxxxx0N for Assessment Year 2013-14 has been received but rejected due to This is only an acknowledgement for receipt of ITR-V.

What is the accounting as well as income tax treatment of long term loss & profit on life insurance policy and mutual fund investment in case of proprietarship business?

Whether SSI exemption of Rs.10.00 Lacs is also available to service provider who is engaged in Franchisees Services i.e. providing UC MAS Services to Students at coaching Centre on behalf of Franchiser.

We are manufacturer of Industrial Machinery and its spare parts and supplying to various domestic comapanies as well as exporting to various countries.

Our unit has practice to remove some input items "as such" by payment of full excise duty from Cenvat Credit/PLA on enhanced value of input.

Whereas as per Excise Rule we should charge an amount equal to the credit availed in respect of such input sold as such.
Now, Excise Deptt is asking that it is illegal to charge full amount of duty while selling input as such. So we should refund the excess amount charged in our invoice along with interest thereon.

Our stand is that whatever amount has been charged in invoice, is utilized from Cenvat credit/PLA, and if we have to refund the excess amount, we should be allowed to avail the credit of this amount because there cannot be double duty on single sale.
But they are denying for availing the credit of this amount.

Pls advise on the matter.

(Anil Arora)
Manager Finance