Wheter small service provider is require to furnish ST-3 if there is no service tax liability arise because of exemption notification 33/2013...Please provide the answere as soon as possible.

Ashwani Kumar
8860094281

As per Section 80EE a first time buyer of house would get additional interest deduction of 1 lac if a housing loan is sanctioned between 1st Apr'13 to 31st Mar 2014.

My query:
Can a person who is a first time buyer and whose hosing loan has been sanctioned in Feb'2013 is entitled to get this benefit if the loan is taken over now by an another bank?

Please advise on this.

Regards

Why it is mandatory to stick revenue stamp on cash payment of Rs.5000 & above on voucher???????

A timber merchant purchased 1,000 c.ft. of timber logs on 1st April, 1991 @ Rs. 100 per c.ft. and stored them in his timber yard for six months for seasoning. In the timber yard the following items of expenses were incurred during the period of seasoning:
(i) Rent Rs. 1,250 p.m.
(ii) Salaries of 4 Guards @ Rs. 250 p.m. (iii) Incidental Expenditure for Maintenance, Power, Lighting, etc. Rs. 750 p.m.
(iv) Annual Share of Administration Overhead Rs. 10,000. 50% of the floor area of the godown and other connected operations were incurred for stocking the seasoned timber. Loss in volume of the lags due to seasoning should be taken at 10%. Calculate the selling price of the seasoned timber per c.ft. on 1st October, 1991 assuming that the profit margin on cost was 15%.
Solution - Computation of Selling Price Quantity Amount c.ft. Rs.
Cost of Timber 1,000 1,00,000 Rent (1,250  6  1/2) 3,750 Salaries of Guards (250  4  6  1/2) 3,000 Incidental Expenses for maintenance, Power, etc. 2,250 Administration Overhead (10,000  1/2  1/2) 2,500 Less: Loss in volume (10%) 100 1,11,500


WHY ALL ITEMS HAVE BEEN MULTIPLIED BY 1/2 ?

Our client has a registered office in Mumbai, a service center in Pune and Corporate office is in Gurgaon.
No. of employee :
Gurgaon - 7
Pune - 2
and 2 employees are working from Chennai (they are working from home)

I want to know that whether Professional Tax is applicable or not and if yes on how many employees, working in above respective state.
Please reply as soon as possible.
Urgent

Hi,
My client didn't deduct TDS on a payment made to a contractor which was made on 25th April-2013. Now he has deducted TDS on 4th july-2013.
I have the following questions in my mind:
1) Interest on TDS not deducted is 1% per month or part thereof from the date when TDS was deductible till date of actual deduction.If he made deduction on 4th Jul-13 for how many months he is liable to pay interest. I mean is he liable for 4 months i.e.April to Jul or we have to go on date to date basis i.e. from 25th April to 4th July which gives us 3 months?

2) Is he liable to Intt. of 1.5% also from Jul to Aug. Actually I am confused with this point of section. If after deduction on 4th Jul-13 he pays the interest before 7nth of aug next month then also he is liable for interest of 1.5% for 2 months on late payment?

Kindly guide me in the above situation.
Thanks.

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Our Client is providing Sponsorship Service. Against the same it has received Sponsorship from Foregin body Corporate. As 100% reverse charge is applicable in sponsorship service,service receiver is liable for payment of service tax . But in our case as service receiver is foregin body coporate ,our client is liable for payment of service tax??

Now mine query is can the same payment be made through the utilisation of credit or compulsory it need to be paid in cash??

-answering with relevant provison or notification any will be really helpful.

Dear Sir/Mam
If the person has not submitted form 15G in the starting of the Financial Year and has submitted it to the bank near about in mid of the year,then can he claim the TDS deducted on his FD interest as refund while filing the personal return??If Yes,then how such would be shown in personal return to take refund??

Sir,
The relevant extract of the act with respect to the above section reads as follows:
40A(2)(a): "Where the assessee incurs any expenditure in respect of which payment has been or is to be made to any person90 referred to in clause (b) of this sub-section, and the 91[Assessing] Officer is of opinion that such expenditure is excessive or unreasonable having regard to the fair market value of the goods, services or facilities for which the payment is made or the legitimate needs of the business or profession of the assessee or the benefit derived by or accruing to him therefrom, so much of the expenditure as is so considered by him to be excessive or unreasonable shall not be allowed as a deduction"
40A(2)(b)(vi): "any person who carries on a business or profession,—

(B) where the assessee being a company, firm, association of persons or Hindu undivided family, or any director of such company, partner of such firm or member of the association or family, or any relative of such director, partner or member, has a substantial interest in the business or profession of that person."

My Question was whether the shareholding in the assessee company of the common directors and their relatives is to be calculated cumulatively or each common shareholder should be considered as a seperate person for determining the status of another company as a relative of the assessee.

I have tried to put forth my query as clearly as possible. Hope it helps.

Awaiting a reply.