Dear Experts I have opened 5 year Recurring Deposit in post office and deposit amount on monthly basis. Is it comes under section 80C or what? Please give your expert opinion in this regard. Thanks in Advance

I am a vat registered dealer in m.s.
I have following question

1. If I do a OMS purchase of a "xyz" item as follows
basic price: rs.100
Add : cst @ % against c form: rs. 2.00
Total: Rs. 102.00

2. The above item I sell OMS sale
Basic price: rs. 120.00
Add: cst @ 2 % against c form: rs. 2.40
total : rs. 122.40

what will be my sales tax liability in above transaction ?

rgds,
Raghu

hello experts, i want to make an e1 sale. in this transaction the manufacturer is in mumbai, i will be the trader in coimbatore and my buyer is in hyderabad. i have the flwg clarification :
1) in the invoice issued by manufacturer do i mentioned myself as buyer and hyderabad party as consignee?
2) what documents will the supplier (mumbai) send with the trucks?
3) is there any way in which my price of purchase (from mumbai party) will not be known to my buyer (hyderabad party?

your advise will be highly appreciated and also i am looking for a consultant for this matter.

rgds / sujay shroff

I had made a FD of 100000 in SBI 5 years ago.I reccieved Rs.150000 in FY 12-13.Now in deduction u/s 80c what is the amount for which i will get deduction and what amount should i show under the head income from other sources.

HI..
One of my client having commission income of Rs.3,50,000 and TDS has been deducted there on of Rs.35,000. Here he can get the TDS refund of Rs.20,000 as upto 2,00,000 income is exempt from Tax. The problem here is, remaining of Rs.15,000 has been already paid in the mode of TDS. He dont want to pay that much of Tax and want to get back the refund of atleast Rs.30,000. Hence what are all expenditure can be permisible to save the Tax in respect of this??
Any help in this regard would be highly appreciated..
Thanking u..

I filed a return with wrong TAN Number of TDS deducted after receiving 143(1) intimation i noticed that TAN is wrong in IT return. Now IT dept is demanding the full tax with interest after dis allowing House property loss.
Pleas guide as early as possible.

Sir, My wife employed in Public Sector u/t is having three residential buildings in her name in the same town, which are all let out. She is staying with me in my own house. During 2012-13 she repaid HL availed from her office Principal:Rs.178327/- and int.Rs.69,843/-.She availed another HL during the same year and repaid Principal:Rs.27813/- and Int.Rs.117602/-.(for 2013-14 the repayments will be Rs.59357/- towards principal and Rs.202819/- towards int.)How to show the income/loss on house property for the years 2012-12 and 2013-14.

IS PENALTY FOR LATE FILLING OF ITR IS TO BE LEVY IN THIS CASE

a.Y. 2012-2013
date of filling of return: 06/06/2013
Gross Total Income: less than maximum limit chrgeable to tax

A pvt. ltd. company sells goods to another company and charged Rs 40000 as frieght. However it actually pays Rs 10000 to transportation comp.
while paying service tax they calculate the tax on 40000. On enquiry they told that they considered themself as a service provider that is why they are paying tax on 40000 not 10000. Are they correct? or they should pay tax on 10000 as reverse charge

query is

Our company finance its assets from NBFC and monthly installments including interest is fixed for repayment of loan

How the TDS provision will apply as EMI can not be reduced by TDS amount


Thanks and regards
Ritesh khurana