Q. Can I adjust my VAT Credit against Payable CST ?

Issue : I have Local Purchase of Rs. 284294.32 on which Input 4%+1% VAT = 10830.26+2707.56= 13537.82.

My interstate Sales = 1102448.83 Rs. on which Output CST@2% = 21616.65.

According to the provision in the (online) template, it is possible. What I have to do?

I hold a family pension account with a nationalized bank.
As it is a family pension account, the income from this account is considered as “income from other sources” and hence this income is not liable for TDS.
However, the bank deducted the TDS in FY2010-11 and issued me a form16 in Nov 2012.
1) In the form16, Bank has considered this family pension income under the head ‘Income from Salary’ whereas the ‘Income from other sources’ is shown as NIL.
Now when I file the IT returns (for FY2010-11) to claim for a refund of TDS, do I need to enter the details in the ITR1 form as per form16? If yes, then I will have to show ‘income from Salary’ and my ‘income from other sources’ would be NIL (but in reality it is the other way round; that is my income from salary is NIL and I have income from other sources i.e income from family pension). How do I go about filing the returns and claiming the TDS refund?

2) I was issued Form16 for FY2010-11 in Nov 2012.
Is it the responsibility of the deductor/bank to give Form16 on time or is it the responsibility of the deductee to ask for Form 16.
When I asked the dedcutor(the bank) the reason for this delay, I was told that I never asked for the Form16 and hence they did not issue it.
Does one needs to explicitly ask for Form16 or is it the responsibility of the deductor to issue Form16 on its own, without someone asking for it.
I have heard that there is a penalty of Rs.100 per day in case of delay in issuing of the Form16. How does one claim this compensation?
Thanks a lot for you advice!

Hi,

If an employee worked in an pvt co for 2years and if he is eligible for gratuity as per company rule.he resigned and received that gratuity.
he joined another organisation.
Casei:Is tds deductible by employer ?

Case ii:whats the treatment of gratuity, if TDS is deducted by employer in employee hand?

case iii: If tds is not deducted by first employer and tax not paid by employee, second employer can deduct on whole gratuity after his resignation?

if father wants to invest some money from his savings to set up a business for his major son then what will that investment be called? ?? and will the income from that business will be taxable only in the hands of the son or in the hands of father also as per income tax act,1961 ??

hello frndz,

i just wanted to know, if i am not liable to file return u/s.139(1) since my income is below the taxable limits

and just to claim TDS refund i e-filed return for A.Y. 2011-12

but i have not filed my return for A.Y. 2012-13, since there was no TDS that year

So now can I file return for A.Y. 2013-14 directly or i have to first file return for A.Y. 2012-13.

and what if i don't file return for A.Y. 2012-13 and it becomes time barred.

urgent requirement of link relating to past five attempt solved exam papers of ipcc both groups.










thank you

My UNCLE GROSS SALARY 950000 sEC80 c 100000 TAKE DEDUCTION SEC80 D 15000DEDUCTION TAKAN BUT MY qUSTION S THEY PAID INT ON HOMR LOAN IS 110000 CAN WE TAKE THIS LOAN AMT FOR DEDUCTION FROM DIRECT GROSS SALARY IF TAKE WHAT IS LIMIT FOR AY 13-14 & 14-15

Sir,

I have two properties. one is SOP and another is LOP. The LOP is on rent from Feb 2013 @ 14000 pm. I have paid the interest on LOP property of Rs 3,10,000/-.

my query is whether full interest of Rs 3,10,000/- can be claimed as deduction or pro rata deduction of 10 months will be allowed.

Thanks

PRIVATE LTD COMPANY RECEIVES SERVICE LIKE 1)ANNUAL MAINTANANCE CONTRACT FOR COMPUTER, GENERATOR ETC.
2) REPAIRS OF MACHINERY
IT RECEIVES THIS FROM BOTH PVT LTD AND INDIVIDUALS / FIRMS / NON CORPORATES.
WHETHER THESE ATTRACT SERVICE TAX.
WHAT IS THE LIABILITY IF ANY FOR THE PVT LTD COMPANY
1) IF SERVICE RECD FROM CORPORATE
OR
2) IF SERVICE RECD FROM NON CORPORATE

I NEED LATEST AMENDEMENT FOR THE INDIRECT TAXATION APPLICAPLE FPR THE MAY TERM EXAMINATION.