Explain in detail what is work contract tax?
Please

OUR COMPANY AT AURANGABAD AT MAHARASHTRA WE ARE PURCHASE ALL RAW MATERIAL FROM MAHARASHTRA WE SALE OUR PRODUCT TO INTERSTATE LIKE GUJRATH ,ANDHRA PRADESH,DELHI, OUR 80% SALE IS INTERSTATE 70% PURCHSE FROM MAHARASHTRA MY QUSTION CAN I TAKE IN PUT CREDIT IN MVAT ON PURCHASE RAW MATERIAL FROM MAHARASHTRA 100% AGAINST OUR INTERSTAE SALE
FOR EG WE SALE 5CR GOODS TO INTERSTAE ,PURCHASE RM MAHARASHTRA 3 CR CAN I TAKE FULLY CREDIT ON PURCHAS 3 CR AMT

Dear Sir,
MY FRIEND IS A COMMISSION AGENT WHOSE TOTAL INCOME FROM COMMISSION IS RS 378920/- DURING FY 2012-13 IN WHICH DEDUCTOR HAS DEDUCTED RS 37892/- IN THE FORM OF TDS.NOW HE HAS BOUGHT A LIC POLICY OF PREMIUM AMOUNT RS 5600/-YEARLY ONLY. HE WANTS TO REFUND ALL OF HIS MONEY WHICH HAS BEEN DEDUCTED.NOW HE WANTS TO KNOW THAT WHAT AMOUNT HE SHOULD SHOWN IN THE FORM OF EXPENCES AND U/S 80C SO AS TO REFUND HIS TOTAL DEDUCTED TDS.PLS CLARIFY IN SIMPLE WAY.
THANK YOU

What is the amount of TDS u/s. 194- c in the following condition for Bills from CFA Aggent

Custom Duty Paid By CFA agent 250000/-
( Including Cess and other applicable duty)
add Service provided by CFA agent charges 300
plus service tax on rs. 300 i.e. 47
total bills Gross 250347/-
no separate bills issued for duty paid and service charges collected.

Dear all,

software development should be classified as business or profession?
as per income tax act business includes trade, commerce or manufacture and adventure in nature of trade commerce or manufacture.

pls advice as early as possible as its urgnt.

Thnks

while filing ITR1, by mistake I mentioned Let out property instead of self occupied property. for fy 2012 13 in ITR format it is compulsory to enter self occupied or let out.

I am availing the deduction of Interest on Home loan and HRA. However Ineterst is only Rs 20000 hence well within max limit of Rs 150000 for self occupied property.

I wanted to change the house property status from let out to self occupied property.

Kindly suggest whether to revise the return or any other procedure to be followed.

What's liability of vat and entry tax in m.p. if purchase from unregistered dealers If sale 1000 rs and u.r.d purchase 100rs vat rate 5% vat. Amount is vat 50 ya 45 please clear

What is the difference between Remuneration and Salary?

And If Director is given each month payment via cheque then it is mandatory to deduct TDS or we can treat it as a salary don't deduct TDS.

Yes what are the penalties of failure to deduct TDS?

If an assessee (male-60 years) is a director of a company and receives director's remuneration Rs 2,40,000 p.a. in the FY 2012-13. He also has income from Fixed Deposits and Savings Bank interest of over Rs 1,00,000.
Which ITR he is required to file for AY 2013-14???

An assessee (Male - 38yrs) is expected to have following incomes in the FY 2013-14:
Income from HP - Rs 7,60,000
Income from business - Rs 89,000
Income from Other Sources - Rs 42,000

According to his investments, he will be eligible for deductions as under:
80 C - Rs 1,00,000
80 D - Rs 5,500
80 TTA - Rs 10,000

Give some good suggestions on how to minimize his tax liability for AY 2014-15?