Respected Experts,

A CA who is practicing under a proprietorship firm got Allahabad Bank branch audit last year & that was his first audit after a long gap - now this year RBIs panel list has shown him ineligible - without showing any further reason - now what is to do or is there any place where such ineligibility reason can be asked or any grievance cell if any etc.
pls. furnish the address

Thanks

Debashis Mandal

i have received demand notice dtd 27.2.10 for ay 08-09 under sec 143(1)wherein a demand of 2191/- under sec 234b has been made.
my total tax liability was 126178
tds deducted was 94725
self assessment tax 29000 in 28/7
so liability under 234b works out as

126178-94725=31453
31453*1%*4=1258

pl advise whether my calculation is right or 2191/- calculated by it.

please help

I have cleared IPCC in nov 12 so wat will b the last date for registering for articleship so that my final attempt does not get delayed

My name is puneet jain & i am aged 27. I live in prashant vihar,rohini,north delhi.
I was earlier in my father's business but shut it down recently so i decided to pursue CA course.
I have cleared my IPCC NOV 2012 exam with 55.7% in first attempt.
Now i am facing difficulties in finding good mediocre CA firms may be due to my age so pls suggest how should i proceed in finding it

I am an ipcc student under direct entry system.. I m confused wen shud I start my articleship. Should I start before clearing ipcc or after pcc?? Please help me!

Does the assessing officer have any powers to waive off interest liability arising under sec 234 b and c?

has there been any precedence of such waivers?

Thanking in advance

if i have white a/c of rs 350000 and i purchased a land of costing of rs 1750000 and i want make it all white money to govt...apart from gift provision any gateway to make this white ac of rs remaining 1400000

Dear Experts,

One of my client has sold property (Capital Asset)at Rs. 20 Lakhs at a lower price than the value adopted by Stamp Valuation Authority Rs. 25 Lakhs. Now as per sec 50C Rs. 25 Lakhs will be deemed to be the actual sale price. But actually due to acute need of funds client sold the property at 20 Lakhs. Also the Sale deed shows Rs. 20 Lakhs and not Rs. 25 Lakhs.

Question:
1. Why the client will pay extra capital gain tax on Rs. 500,000 though he didn't received the money?

Your assistance in this matter will be highly obliged.

I want to calculate interest on service tax

My service tax is pending since july 2010

Pending details upto 31.03.2011 1,50,000/-

upto 31.03.2012 4,00,000

upto 31.03.2012 5,50,000/-

because interest rate is changed from 01/04/2011, it increased to 15% (for the assesses income not exceeding 60 laks) from 13%

So, i am not clear for the calculation of service tax whether it is liable to pay 13% or 15% or partially
and we are paying this service tax feb end

please clarify calculation as such case...
please help

Please also clear concept of interest on service tax...........

I booked an under-construction flat, the agreement of which was executed on 1st Feb 2010. The agreement value amounted to Rs. 40,11,000/-. Now the flat is ready for possession and builder has demanded payment of VAT at the rate of 5% of the agreement value which is Rs. 2,00,550/-.
I understand that the issue of 5% VAT is still pending in the court and final verdict is yet to be received.
As per my understanding the developers are allowed to compute the VAT using any of the following options:
1. Composition Scheme U/s 42 (3)- Under this scheme developer has to pay 5% tax on the agreement value. Land deduction is not available. Input tax credit is available subject to the reduction of 4 per cent.
2. Actual Expense Method U/r 58- Under rule 58, the deduction of Labour service charges is available on actual basis. Land deduction is also available. Set-off will be calculated subject to the condition u/r 53 and 54.
3. Standard Deduction Method U/r 58- Under rule 58, the deduction of land cost will be allowed. Thereafter 30% standard deduction from remaining amount will be available as per provision to sub-rule 1. Set-off will be calculated subject to the condition u/r 53 and 54.

As per these the developers can claim input tax credit. However the benefits received will not be passed on to the flat owner. Hence please advice what are the options available to me to reduce my VAT liability.

If the developer insists me to pay 5% of the agreement value what should I do to ensure that he passes on the benefit of input tax credit /favouring judgement to me? Please advice.