We are getting some work done on contract basis. We get a bill in which contractor gives bifurcation of material and labor charges. We are deducting TDS on total amount.

Please tell me if we are following correct practice or only TDS should be deducted on labour charges.

Kindly give section or circular reference.

don't give personal opinions

Dear sir,

can we withdraw ppf amount before due period in case of amergency.

EOU is the manufacturer of the goods, merchant exporter is the exporter, container is sealed in Eou premises, consignee abroad, bill to India / ship to abroad,
payment received in foreign currency,tell me about the eou procedure.

Partner of Firm pays service tax on mobile bills , electricity bills , professional seminars/lectures attended by him..can this partner claim cevat credit in partnership firm for service tax paid?..this bills are in his personal name...

Thanks in Advance.

At which time or Period a dealer need for Assessment. what is the procedure of assessment.

Dear Sir/Madam,

Facts of the case are as follows,

(1) One of my client is in to Bakery Business wherein she is mainly manufacturing cakes & pastries in a kitchen of her own and sale it thru a retail shop under a proprietory firm name.

(2) All sale is with in State of Maharashtra only.

(3) She does not have any Brand Name registered for the same.Only the Shop Name & Boxes under which she sells the product contain Name of Proprietory Firm.

(4) We have obtained Regn.No.under VAT,CST No.& Shops & Establishment for Proprietory Firm.

Now our queries are

(1) Rate of VAT to be charged on sale of Cakes & Pastries.

(2) As informed to us that if cakes/pastries are sold under Registered Brand Name then only VAT @5% is chargeable otherwise rate is NIL.

(3) If rate is NIL can we claim refund of VAT paid on purchases of Raw Material.

Plz.send us your expert comments on the above at the earliest.

Dear Experts,

One of my client being a private Limited Incorporated in 2004.This company is closely held i.e. all shares are holding in the name of Directors & their relatives such as Directors Wife,Mother & their HUFs. During the F.Y.2012-13 the Co.has allotted 80000 Equity Shares to their Directors,Directors relatives & their HUF at the rate of Rs.10/- plus Rs.40/- as premium thereon by filing of Prescribed ROC returns.That means a Share premium Account is created with Rs.3200000/- & same is shown in reserves & surplus.

Now query is whether such issue of Equity Shares at premium is subject to tax or not.

If yes,Please elaborate the relevant provisions of I.T.Act with the date of Applicability.

Please treat it as most urgent & reply immediately.

Regards

CA SANJAY BAHETI

Dear Experts,

i am a employee in private company and want to choose one option, whether to deduct my PF by employer or to open a PPF account and deposit the same amount to that account.
for an example my employer offered me 30000/- CTC and everything contain in CTC even Employer contribution too and Employer told me that its up to you that you deduct 12+12 =24% PF or not.
there was something in my mind that to deposit that sum of 24% to PPF account rather deducting by employer.
please suggest me.
Thanks
Yogesh Bansal

I am doing BPO services, get paid monthly in foreign currency. I am just an individual service provider serving a foreign client working like freelance. My income is around 5 lakhs per year.

1. Kindly let me know whether I have to pay service tax.

whether I need service tax registration.

i am going to write ipcc exams in nov 2013...so far i haave completed tax,law...is time sufficient from now to prepare and pass the exam???