I wish to know that if a body corporate which was initially only a service provider now comes under the ambit of Partial Reverse Charge also and is now liable to pay service tax as a service Recipient.

Kindly clarify that how would it register itself, if the entity is already registered as a Service Provider?

will it be a fresh registration? or an amendment to the previous registration?

I have a sweep facility connected to my ICICI savings account such that funds in excess of a threshold (I think Rs 10,000) are automatically swept to an FDR which gives higher interest (7% vs 4%). If a cheque is presented in excess of the balance of the savings then some of the FDR is reverse swept to the savings account.

Interest for the FDRs was paid in March 2012 and reported on Form 16A. However, subsequently in April & May 2012 the FDR were closed due to a reverse sweep, then some interest was reversed, since the FDR is deemed to be prematurely closed and the prior interest paid in March is too high, since it was based on the regular maturity interest rate. However, no negative interest is reported in Form 16A, thus the total interest reported on Form 16A is overstated. ICICI have also told me they cannot correct this. Amount of negative interest (interest reversal) is about Rs 24,000.

When I file my income tax return for FY2012-13 (AY2013-14), should I state interest income as the correct amount (after reducing for the negative interest), or should I state based on Form 16A? I assume if I use the Form 16A amount then no questions will be raised. If I use the correct amount, will it raise questions and delay processing of the return and require me to go through a lengthy explanation process? Does IT Department compare the interest reported on Form 16A to that reported on the tax return?

Also, this issue crosses fiscal years. For FY2011-12 I reported the full interest (since at that time I didn't know interest would be reversed), so now in FY2012-13 I would be reporting a reduction of prior year's interest income, but of course the reduction happened in FY2012-13 and affects the total interest earned in FY2012-13.

Thanks for assistance in this matter.

I paid Commission and deducted tds what is entries for the same

Sir, I want to know whether a manufacturer can take CENVAT Credit of abated service tax paid on Freight inward from excise duty payable.

One of my clients company was formed in Jan 2011 and till date they have not done any audit, ROC filing nor any income tax filing.

They want to regularise now.

How to proceed?

Regards

Hello,
my client wants to import some product from china which has hardware,software and services components as per the invoice.i understand for hardware duties needs to be paid, does my client needs to pay duties on software (delivery via cd courier) and services component. Any other taxes to pay?
thanks

we have deducted less tds from employee salary..
now should we deduct and pay the difference or can we show tax payable in Form 16 of employee??

Which is the correct procedure???

Please tell which one of the following option is good to pursue:
1.CA,CS,MBA.
2.CA,CS,ICWA.
3.CA,CS,B.COM (HONS.)

Can anyone get me a sample copy of MOA & AOA for an Agro-Farm Company.

sir,

A CA who has completed his 1 year of practice
can hold an article ?

Thanks