Anil Kumar
09 May 2013 at 12:18

Deduction

An assesee obtained Home loan on a house named on his wife. He repay some installments (Principle + Interest) in previous year. How can he get deduction while computing his income since he don't have any house property in his own account ????
his wife also have some income but loan was on husbands name..... what to do in that case ???
Can husband claim deduction in his computation of total income, if yes then how ????



Anonymous
09 May 2013 at 12:12

Tds book entry

what is the difference in tds book entry as yes & no in deductee detail? And If person named A has to pay 500 to Person A and person B has to pay 700 to person A. then Mr B pays balance 200 to mr A than what should i do in TDS paid by book entry.
2)Question of TDS is paid by book entry arise in 4th Quarter or in any quarter?


CA Sanjay Baheti

One of my client being a Pvt Ltd.Co.engaged in manufacturing activities & also covered under Excise law.
that is the co. is availing Cenvat Credit on Inputs/input Services & also charging Excise duty on Finished Goods Sold respectively.

During the course of F.Y.2012-13 one consignment of Finished Goods returned by the customer.(i.e. sold in May,2012 & again returned in June,2012)due to rejection by quality deptt.

Now the query is how to account for such Transactions in Books of Account as well as Excise records (i.e. in RG1 & RG 23A PartII)specifically as to Excise duty portion like Basic 12%,EC 2% & HEC 1% respectively along with Value of Goods returned.


Chandan Gupta
09 May 2013 at 11:53

Vat claim

Dear Members,

A company having its regd & corporate office in delhi received goods from the vendors directly in its branch office in some other state in india. Now the question is what should be the address & TIN No. on the invoice generated by the vendor i,e address & TIN of corporate office or of branch office.

Thanks


Avinash
09 May 2013 at 11:43

Form 16 part a from traces

Greeting to All,
With ref. to cir. no. 04/2013 Govt. has made mandatory to issue Form 16 PART A downloaded from TRACES, my question is this an employee's tax has not been deducted hence I have not filed his details in 24Q. But we use to give Form 16 to all employees. Now in this scenario could we get PART A fom TRACES, if not; could we issue Form 16 without PART A (downloaded from TRACES) if no TDS from respective emp.

Thanking You


Aravindakshan
09 May 2013 at 11:29

Ltcg

We are a family consisting of mother, 2 sons & a daughter. We have inherited 14.5 cents of land purchased in 1961 for a total consideration of Rs.2500 & a house constructed thereon for Rs.60000 and additions & improvements made thereon in 1987 at a cost of 8 lacs.

Now we propose to enter into a Jt.Development agreement for construction of flats, under which 4cr is payable to us, of which 2cr to the mother and balance to be shared amongst 3 of us and the 3 of us are being allotted a flat each of 2000sq.ft and the balance extent of 7000 sq.ft will be sold by the promoter.

In the circumstances what would be the LTCG
of each individual and best way to minimise the impact. Will the 3 of us be entitled for exemption even if we own other residential houses? Is there any serivce tax liability too?


naga raju
09 May 2013 at 11:23

Tds

Dear Sir

When to deduct TDS whether it is on accrual basis or payment basis.

IN one instance of our client they paid amount to the contractor but they dont deduct TDS on the payment because they did not received any bill from contractor.

As per explanation given by them they will deduct TDS when ever they receive bill from contractor.

They have paid in the year 2012-13 and not deducted tds and they received bill in 2013-14 so they deducted TDS

Finally my query is what is the impact of that payment in 2012-13 as well as 2013-14



Anonymous
09 May 2013 at 10:56

Tds

Dear All,

In case of TDS of interest (94A) & Brokage (94H) the limit of 5000 should be considered of single Party ?
Eg. I have to pay brokerage in total Rs. 8714 to Mr.A Rs. 4087 and to Mr.B Rs. 4627.
Now am i require to deduct tds as the total Rs. 8714 as the limit exceeds Rs.5000? or i should not deduct TDS as the limit in each case does not exceed Rs. 5000.
Please clarify Along with reason.


Pravin

Sir,
I want to know how service tax to be reversely calculated on following example, sales invoice service tax rate is 12.36%.
Total of Service Tax-Rs.94578-00
Accting code-00440072 - Rs.91824-00
Accting code-00440298 - Rs. 1836-00
Accting code-00440426 - Rs. 918-00

Please explain me above calculation, if there is any formula.
Thanks,
Pravin.



Anonymous
09 May 2013 at 10:24

Articleship

Is asking refund of stiphend given to the article students when the students are asking for termination is valid as per ICAI rules? If any firm asking stipend refund and not giving termination ,harrassing how can the studens defence themselves?

Please reply its very urgent...can the students complaint about this to ICAI what is the procedure ?





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