Sir

My Client is registered under the Punjab Vat Act 2005 as builder and contractors. He is constructing the flats on the land purchased in the name of co. He had made the purchases of Rs.100.00 lacs Within Punjab and out of Punjab against C Forms in Q4 and also received the Advance from customers against booking of flats Rs.50.00 lacs during Q4.
What is Tax Postion on Rs.50.00 lacs under Punjab Vat Act and How to show this amount in Vat Return


Ca Rajesh Gupta

1. 5 Lacs Income condition (Audit) is also applicable for Salaries Person ?

2. In the cases of Business Income Rs. 5.00 is applicable after or Before Deduction (80-C,D,G Etc.) ?

ACCOUNTING OF RESIDENTIAL COMPLEX BUSINESS

HOW TO ACCOUNT THE FOLLOWING IN THE TALLY

1. COMPANY HAS FEW ACRES OF LAND. IT HAS MADE PLOTS OF LAND AND IT ENTERS INTO THE FOLLOWING TRANSACTIONS: FIRSTLY IT SELLS THE LAND AND THEN ENTERS INTO CONSTRUCTION AGREEMENT.

MY QUESTION IS HOW TO SHOW THE EACH PLOTS IN THE TALLY

IS THE FOLLOWING TREATMENT CORRECT:
A. FOR THE PURCHASE OF ACRES OF LAND :SHALL I TREAT THEM AS PURCHASE OF STOCK.

B. FOR THE PLOTS MADE AND SOLD THEREON :SHALL I CONSIDER THE PLOTS AS THE FINISHED UNITS FIRSTLY. AND THEN MAKE A SALE ENTRY FOR THE PLOTS SOLD.

C. FOR THE CONSTRUCTION AGREEMENT :ACCOUNTING THE CONSTRUCTION AGREEMENT AS PER AS 7 CONSTRUCTION CONTRACT.

PLEASE ANSWER THE QUESTION AS SOON AS POSSIBLE, PLEASE
I WILL HELP ME VERY MUCH
THANKS IN ADVANCE.

Dear Expert ,

I am running Proprietry busniess in mumbai . My Nature of Business is Ship Breaking.
I am receiving Commission in USD($) as a commission income.

I want to obtain Service tax No.
Under which category i am liable to pay service tax?
whether service provider or receiver will liable to pay service tax??
Pls Reply
its urgent

As per Notification 30/2012 of Service tax, private limited company receiving legal service from partnership firm of Advocate has to pay 100 % service tax under reverse charge.
Query: A) If suppose any pvt ltd co. doing only trading business and hence not registered for service tax wants to pay Rs. 10,000(service may be received once in a year or 2 yrs) to partnership firm of advocate as a legal fee.Than as per the above Notification, i think that just for paying service tax under reverse charge(once in a 2 yrs) they have to register for service tax? If i am correct that what is the reason for giving hardship to the entity which is not giving any services(just receiving the service that also not regular
). If i am wrong, than what is the correct position as per the law? Pls explain in detail.

How good it is to be a SME Finance( SUBJECT MATTER EXPERT) after qualifying chartered ? In other words how much evolved is this field ?

Dear Sir,

For Import of Services IEC is required where IEC is required for Specified Services or Specified Technologies as per the proviso to section 7 of Foreign Trade Development & Regulation Bill, 2009. What are those specified services or Technologies.

Thanks

I have been asked to pay interest on the delayed payment of the TDS. The interest Income Tax Department (ITD) has calculated is as below
·Date of Payment of amount on which TDS is Applicable : 31/03/2009

·Amount of fees paid on which TDS is applicable : Rs.250000/-

·TDS deducted and deposited: Rs.25750/-

·Date of deposit of TDS : 29 july 2009

·Month of default : 4 months

·Amount of interest payable : Rs.1030

Up to this I am all right, but ITD also calculated interest on the delayed payment of interest

·Interest on delayed payment of interest : Rs. 465/- ( calculated from the due date of payment of TDS till the date of notice.)


I seek your valued opinion on this matter.

1) Whether ITD is justified in levying interest on interest as shown above?

2) I went for CIT appeal – How can I justify that the interest on interest is not tenable?

one of my friend receiving gift of building from NRI, any body tell me the rate of tax for this type transaction

IS THE TDS ON ROYALTY/TECHNICAL SERVICES 25% WEF 01-04-2013 U/S 115A

IN TAX TREATY TDA RATE WILL BE 20 OR 25 WEF 01-04-2013 ON RAOYLATY PAYMENT TO OUTSIDE INDIA