Hi I am doing the audit of a construction company. They have specific people ,for eg Mr X for doing the painting work. There are lot of people working under Mr X. The Co has shown Mr X under creditors. Company is paying cash to Mr X and Mr X distribute the money to the employees working under him. He is submitting the details of payment made to all of them with their sign to the company. The payment made to Mr X (employees salary) is more than 10 lakhs per year.

Kindly answer the following questions

1) Whether TDS to be deducted as the company is giving the payment according to the work done (contractual nature)? The company says that it is salary saying that they keep the muster (but Mr X come under 'Creditors') !

2) Whether cash payment above Rs 20,000 provision applies in this case as they are giving figures like Rs 50,000 etc to Mr.X. Or is it not applicable as Mr X ditributes it to the employees which would be quite less than Rs 20,000?

Kindly reply

Dear Sir,

We have paid our office rent Rs. 2,00,000/- Dt. 22/12/2012. We didnt deduct 10% TDS of Rs. 20000/- that Time. Today Dt. 3/4/13 we got the TDS amount of Rs. 20000/- return from our office owner. Could you pls. tell me the interest we have to pay while depositing the TDS to Govt. Let's assume that we will deposit the TDS by 7th of Aprl 2013.

Hello Sir,

i have a case in which client is a real estate developer building housing complex. It used to collect advance against booking of flat from the customer and liable to pay service Tax. the issue is that if the present customer cancel the booking of flat and the new customer booked the same flat then what are implications of service tax on new booking. Is the client is liable for service tax?

i am a CA final student and i was registered under a chartered accountant for articleship in the year 2011 being an ipcc passed student my articleship tenure should be 3 years but my deed is been signed for three and half years what should i do now ...
Thanking u
awaiting for quick response

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Sir,

If Service is 1st Time become Taxable
such as ST on ACTOR wef 01st July 2012\

then
my Question is
if an Assessee crossed Rs 10/- Lakhs in P/Y i.e F.y 2011-12
then Basic Exemption Limit will be available for F.Y 2012-13 or not