I have alredy gone through the link.The link also does not give complete answer to the query.Because the link say CIF vaue means CIF price paid or payable to the Exporter....... the price inludes Freight and Insurance cost which means the expert belives that Import is always done by CIF value it not correct,import is also done on Ex works price,FOB (Free On Board) Price,C&F ( Cost and Freight) price.The Expert does not say how to calculate assessable if expoert is on EX work,FOB or on C&F basis The Expert also does not say how to calculate assessable if the import is on Ex work,FOB or C&F and the importer does not submit proof of Freight paid or payable and Insurance charge.

As an expert he must give complete reply.

From Mr.Malay Pota

dear sir
i want to import goods from china .
refrigeration tools & spare parts and also copper tubes .
how many % of duty i have to pay .plz give me hs codes for copper tubes and refrigeration spare parts&tools .
thanks

dear sir
i want to know that as per india korea FTA...if i am importing goods from korea . is custom tax free .
i want to import refrigeration tools & spare parts ...copper tubes for refrigeration .and if it is not free how many % of duty i have to be paid .
thanks

Dear All,

I want to revise return of my client for TDS matter. His actual TDS is of Rs,24,851/-. But in original return Refund of Rs.14,858/- is claimed he also received the refund amount. He has filed his original return (Manual) for AY 12-13 before due date.

Now I want to claim remaining TDS amount of Rs.9,993/-. Can I show 8% profit of his receipts and file revised return u/s 44AD. He is a Civil Contractor.

Please help in this regard....

Thank you

Dear Experts,

A CA firm Consits of 3 Partners A,B&C. No of tax audits the firm can accept is 135. Now 'A' has already signed 45 tax audits. Still the firm has space to accept tax audits and got some new audits. 'B' & 'C' were out of station. My query is Whether 'A' can sign the new audits on behalf of the firm on the grounds that the remaining partners were out of station?

I donated an amount to an organization that offers 125% exemption from Income Tax of India under section 35, while filing my return where can I show this donation and exemption. I think the 80G section may not be suitable

Dear Friends

The Income Tax Return Form -4 has a schedule AL for the individuals having total income exceeding 25 Lakh.


This Schdule Requires Details of Personal Assets held by the assessee apart from business assets.

can anybody suggest me how we will calculate the value of few assets such as

1. Land & Building (As the Property is purchased several years back)
2. Jewellery
3. Vehcile ( Dep. need to be charged or not???)


Thanks

After studying Tax, a qs. Comes to mind that whether tax system abroad is also complicated like the indian? Does all the country have tax system? I have heared that few countries don't levy tax. Then how do they manage economy?

Dear Experts,

A public limited company has come up with a 6 years Discount scheme for selling his product and increasing sales under which:

1. In the first year if a customer buys Rs. 75000 product then he is getting a Discount Coupon of full amount of Rs. 75000 which is redeemable in 6 years.

2. The scheme is - if customer comes after 1 year from the date of purchasing and surrendering the Discount coupon then he is getting product worth 10% of the Purchased amount.
But if he comes in the 2nd year then 20% and so on. In the 6th Year he is getting product worth 100% of the purchased amount.

Customer can surrender only 1 time and it is upon him when he is going to surrender his discount coupon. If the customer is not appearing in the 6th year then his coupon will lapse, so anyhow the customer will have to surrender in 6th year.

Question:

1. When we are going to treat this Discount, at the time of purchase? If the answer is yes then there will be huge loss in the books? If the answer is NO then there will be huge profit at the time of Sale. Please advice?

Dear experts,
In case dealer voluntary registered himself under Vat Act. but after registration he discountinue from his business without any transaction.
and neither he cancelled his registration nor file his nil return for f.y.12-13 till now.
now dealer received a notice of demand which contain assessment order under best judgement under section 23(1) and notice contain period of default of first quarter of that financial. year.
now dealer what should do?