Dear experts..
Plz let me knw which finance act applicable for may 2014 exams

Sir,
Please guide about filing of return of LIC Agent. What sort of expenses are allowable as deduction? In business head where to claim those expenses?

Thanks in anticipation.

I am confused about the notification 24/2012 which says in its Explanation 2 that the Service Provider can not get CENVAT Credit. Wheather this explanation is regarding option 2 (abatement Value) or option 1 (Service portion only).

Moreover,is there anything different in Reverse Charge Mechanism w.r.t. work contract i.e. POT, raising of Invoice, Cenvat Credit, refunds etc. or all these process are same for Work Contract also as other services in RCM

Please go through the below mentioned points which were collected from various sites via google-

1. There are many Government Departments who are maintaing Government Accounts also. They maintain Income Tax as head of account in their books. When they have to deduct TDS, they simply debit the expense or party and credit to Income Tax head. This is called TDS by book entry and in this system, no physical movement of cash or cheque takes place. In TDS return, we are required to furnish voucher No. through which tax is adjusted and date of voucher. BSR code of bank branch is not required. TDS deposit by book entry relates to certain govt ministry who does not depost
2.TDS by cash but only adjust the same by debiting/crediting to HO a/c. Defence Ministry is one of such ministry.
3. 'TDS deposited by book entry' is a concept for deposit of Government authorities/agencies etc., where all the transactions are through treasury itself. Thus, when these entities, makes payments to vendor from treasury and deduct TDS thereon, then instead of separately paying the TDS again to treasury, simply the amout of TDS is recorded through book entry.

also refer the following link:
http://nexgengroup.in/webtds/webTDS/faq.html
after the above points and link data it could be concluded from my side that in challan sheet (tds return) paid by book entry should be NO for non-government assessees & in annexure sheet paid by book entry or otherwise should be yes.
The above conflict have been complexed after one of the AO contended w.r.t demand raised by department that the demand has been raised due to selection of "NO" in paid by book entry or otherwise.
This is my understanding of the matter and I would request to correct me, if wrong.

Dear All,

I have only 10 days in my hand to study the III rd group of Final CS (Tax and Strategic Management,Alliances & International Trade) So you are requested to provide me the short cute and good notes for the same.

Thanks

Public charitable trust running an International School, Is there a need for tax audit if gross receipt from school fees is more than 1 crore.
Income of trust is exempt u/s 10(23) of the Income tax act, 1961

what are the consequences if someone forgets to tick the question answered in answer sheet of ipcc exam

can anyone tell me how to conduct concurrent audit of a govt. bank?
what are things i should look out for?

Dear respected members, can you please solve a problem of journal entry. their is a pateint (RAM kumar) bill of a hospital ,bill is of RS-27750 after dicount 2750 he paid 25000 now in this bill there is a consltance charegs also inculdes 700 of other doctor .which we will pay later to the doctor at the end of the month. now i want a journal entery where discount is dividede in to the conltancy and to the hospital (200 for other doctor or consultant and 750 for hospital) i have to show the other doctor charges,the hospital charges,the dicount dividede in to two part (hospital and consltant) please to the neefull

Namaste..!!

I am an Accountant and doing job in privet firm from last 3 years..

In 2006 I had passed CPT and than started articleship..

I had attemped 3 exam and not cleared PCC than I had started Job due to financial contigency..

Now I want to move back in CA..

So I want valluable suggetion which will be good for my future..

Please help me..