One of my client manufacturing Exempted goods.

But he purchase raw material on which excise duty paid.

Meanwhile, the manufactured goods which are exempted are Exported.

Can he get the excise duty refund paid on raw material.

Thanks in Advance.

DEAR SIR
at present download itr4 from e filing portal I see there is a little change in MOBILE NO is now compulsorry but previously downloaded itr4 it is optional
, so can I used previous itr4 for itr filing? advice me thanks.....

sir, i am in audit of a manufacturing concern.as i came across purchases. i have seen transporter copy bill and extra copy bill instead of original bill.they told original bill was not available.i would like to know that is there any mandatory rule that purchses booked should have only original bill.can they book it through extra copy or transporter copy?suppose in a scrutiny do they accept tansporters copy bill or extra copy bill or will they mandatorily ask original bill only?please let me know?

How can i fill nil income tax return?

AMIT DARJI

Is CENVAT credit allowed to be taken of the service tax full paid by us as a Service Recipient under the Reverse Charge Mechanism?

Cost of Acquisition 137,000
Less: 20% Downpayment 27,400
Loan Received in Bank Acc 109600
Interest Payable on Loan Receipt for the period of 36 Months - 14738.25
( as per Repayment Schedule on Reducing Balance Method)
Amortization Schedule for 1st Year Date

Openig Balance Interest Principal Total Instalment Closing Balance 5-

May-12 109,600.00 753.50 2,696.50 3,450.00 106,903.50 5-Jun-12 106,903.50 759.46 2,690.54 3,450.00 104,212.96 5-Jul-12 104,212.96 716.46 2,733.54 3,450.00 101,479.42 5-Aug-12 101,479.42 720.93 2,729.07 3,450.00 98,750.35 5-Sep-12 98,750.35 701.54 2,748.46 3,450.00 96,001.89 5-Oct-12 96,001.89 682.01 2,767.99 3,450.00 93,233.90 5-Nov-12 93,233.90 640.98 2,809.02 3,450.00 90,424.88 5-Dec-12 90,424.88 621.67 2,828.33 3,450.00 87,596.55

Closing Balance of Bank is 87596.55

but as per my accounting Ledger Balance Shows 96738.25

I Accounted entry as follow

Bank A/c Dr 109600.00/-
Prepaid inTerest on Loan A/c Dr 14738.25 Loan Payable A/c 124338.25

then deduct every month 3450.00 as per above interest and principal schedule.


Can any one reconcile the balance n show me how to rectify the error


In Addition as per Bank Balance confirmation report there is some accrued Interest of 542.00 what kind of interest is this? pls Help

Atharparkar@gmail.com

If a house is partly let out and partly self occupied and the interest on borrowed capital is Rs. 230000/-. can we claim deduction of whole Rs. 230000 as there is no limit on let out property or Rs 150000 limit has to be followed..??? please guide if my view is correct or not....?? if it can be so then isnt it a great tax planning to claim whole interest...???

Cost of Acquisition 137,000
Less: 20% Downpayment 27,400
Loan Received in Bank Acc 109600
Interest Payable on Loan Receipt for the period of 36 Months - 14738.25 ( as per Repayment Schedule on Reducing Balance Method)
Amortization Schedule for 1st Year

Date Openig Balance Interest Principal Total Instalment Closing Balance
5-May-12 109,600.00 753.50 2,696.50 3,450.00 106,903.50
5-Jun-12 106,903.50 759.46 2,690.54 3,450.00 104,212.96
5-Jul-12 104,212.96 716.46 2,733.54 3,450.00 101,479.42
5-Aug-12 101,479.42 720.93 2,729.07 3,450.00 98,750.35
5-Sep-12 98,750.35 701.54 2,748.46 3,450.00 96,001.89
5-Oct-12 96,001.89 682.01 2,767.99 3,450.00 93,233.90
5-Nov-12 93,233.90 640.98 2,809.02 3,450.00 90,424.88
5-Dec-12 90,424.88 621.67 2,828.33 3,450.00 87,596.55


Closing Balance of Bank is 87596.55

but as per my accounting Ledger Balance Shows 96738.25

Accounted entry as follow
Bank A/c Dr 109600.00/-
Prepaid inTerest on Loan A/c Dr 14738.25
Loan Payable A/c 124338.25

then deduct every month 3450.00 as per above interest and principal schedule.

Can any one reconcile the balance n show me how to rectify the error


in Addition as per Bank Balance confirmation report there is some accrued Interest of 542.00 what kind of interest is this?

pls Help

dibnm2710@gmail.com

I am a proprietor for a firm which is into video tape production category of service tax. My revenue / income stands below Rs.50.00 lacs for current and preceeding financial year. I want to clarify whether i have option of paying service tax on receipt basis as per the new rules / notifications of service tax.

Is this option available for select 08 individual / proprietorship service providers such as CA, CS, Architect, Lawyers etc. or individuals like me (service provider of video tape production) also have this option of paying service tax on receipt basis.

dear sir,
i sold a plot in which long term capital gain arising rs 450000, i am planning to purchase a new plot within 6 month of rs. 5 lac, can i take benefit of exemption of capital gain by purchasing plot or it is applicable only on residential property.
is plot comes under residential property?