Dear sir,

we are the manuf.company.
we receiving service from vendor for HYDRA and Trailer as a Service receiver under REVERSE CHARGE do we need to pay Service tax for this service?

Pls explain Declared service meaning?
Supply of tangible goods service is now exist?

thanks
karthik

Dear All,

can any body tell me that, is Interest paid in nature of late payment of TDS is been allowable as deduction U/S 37 or any other section of PGBP Head?

As per me it will be disallowed as interest paid under income tax act is disallowable u/s 37 but the client is arguing that interest on tds can not be disallowed as nowhere act has mentioned the word TDS, But according to me income tax act includes TDS.

hello!
CAN U TELL ME WHAT IS THE MINIMUM STIPEND THAT CAN BE GIVEN TO THE ARTICLED ASSISTANT @ COIMBATORE FOR THE PERIOD OF 3 YEARS OF TRAINING..????

SELF OCCUPIED RESIDENTIAL FLAT IN MUMBAI BESIDE THIS TWO MORE RESIDENTIAL FLATS AT DIFFERENT CITIES AND GIVEN ON RENTAL BASIS UNDER WEALTH TAX WHETHER ALL THREE FLATS ARE EXEMPETED OR ANY ONE FLAT IS ONLY EXEMPETED FROM WEALTH TAX PL CLARIFY

As per Form 16, if the amount mentioned in the column for "Amount Paid/Credited" before the column for TDS deducted is Rs.29677 on which TDS of Rs.1495 is deducted, however on the third page attached to the TDS certificate, in the calculations made in tabular form, the head "Income chargeable under the head Salaries" mentions Rs.242117, what should be the filled in the ITR form in the chart at Clause 22 for Form 16 in the column for "Income chargeable under the head Salaries"???

sir,
A Insured truck is fired in the factory, the expenses was occurred on its repair was Rs. 200000/-. But the company can only recovered from insurance company Rs. 105000/-. Whats the account entries in the books of the company in that situation. and whats the treatment of the loss.

how to plan my study of cs executive programe for dec 13 attempt. actualyy i am working in manufacturing concern and i did not have spare time so i want any suggetion to prepare for my cs exam.

sir

we have received from the incometax department demand notice for short deduction of tds for employees for the year ending 31.03.2012

the emplyees have left office during the year there is no point in paying the tax now and we cannot recover

we r ready to pay the interest but y to pay the tax difference

is there any provision in the act

our building had formed co-operative service society and collecting maintenance charges from members holding offices in our building for cleaning and security purposes...
they are collecting maintenance charges with service tax...
Rs. 2 per sq.ft.* 1000 sq.ft=2000+12.36% service tax..

did service tax applicable to co-operative society who proved services to its members only without profit motive...liable to service tax..

Consider an example.

Invoice amount $1 Lakh.
Calculate TDS in USD @ 20% = 20,000.
Exchange Rate = Rs.50

Entry as on 1.01.2013:

Expense A/c Dr. 50 Lakh
To Creditor A/c 40 Lakh
To TDS Payable A/c 10 Lakh

Now you have to pay $ 80,000 to the party. TDS will remain Rs. 10 Lakhs only.Rs. 10 lacs TDS has to be deposited by 7th February.

Now on the date of payment for e.g. 31.03.2013, exchange rate is Rs. 55.

Entry :

Creditor A/c Dr. 40 Lakh
Foreign Exchange Fluctuation A/c Dr. 4 Lakh
To Bank A/c 44 Lakh

TDS amount will not be affected by change in exchang rate. The difference is Exchange Loss/Gain.
But in 15CA/15CB we will mention amount in INR as 1,00,000*60= 60 lacs
TDS = 20,000*60= 12 lacs
Net amount= 48 lacs

So, this will give 2 different information to TDS/Income Tax Deptt.one is 10 lacs & other is 12 lacs..

Please suggest!!! How to deal with this practical problem.

Thanks in advance.

Deepak Kakkar