HI... ALL


One of our client recieved a query from TIN centre stating that certain TAN Nos. quoted in return of AY 2008-09 are invalid. Now, can a application u/s 154 be given to correct the TAN nos. Also, there are more TDS certificates which have not been claimed due to non reciept. If application u/s 154 would suffice pls let me know any specific format required to be followed.

Looking to You all for support....

NISHANT BHATIA...

Dear Experts,
Whether TDS is attracted for payment made to shipping agent who clears goods from port and under which section? Pls give the limit and rate.

Whether GST will be included in the syllabus for november,2010 attempt of C.A Finals???

Dear Experts,
Whether TDS is attracted for payment made to shipping agent who clears the goods from the port and under which section? Pls give the limit and rate.

Question NO. 1

We had entered into a contract for rendering consultancy job in the year 2006. According to terms of contract, client had paid advance on which we had paid the service tax on proportionate basis in the same year. The job was kept in abeyance till March, 2009. In April, 2009, the Client have unilaterally decided to conclude the contract and demanded refund of Advance amount. We, the Consultant, refunded the entire amount of advance.

Now, kindly give your expert opinion on the following:

Since we had paid service tax on the advance amount, can we get back the service tax amount from Service Tax Department even after elapse of more than two year from the date of payment of service tax.



Question NO. 2

We have entered into a contract for carrying out works contract job. The elements include Design engineering, civil construction, supply of plant & equipment, erection, commissioning etc. Our total liability of service tax on account of Design Engineering, civil construction, Erection, commissioning, etc. is double the amount of service tax provided in the contract. Our client stops releasing payment of service tax when it reaches ceiling amount provided in the contract. However, they enjoy the benefit of CENVAT credit.

The accounting system of our client is that they admit the basic price plus service tax amount and deduct the service tax amount from the payment on the pretext that the ceiling provided in the contract has crossed but take the advantage of CENVAT Credit because they admitted the service tax amount.

As per provision of CENVAT rule, if one does not pay the amount of service tax to the service provider then one can not take the benefit of CENVAT credit on account of Service Tax.

Kindly give your expert opinion.

ARE LONG TERM CAPITAL LOSS IN WHICH STT HAS BEEN CHARGED ELIGIBLE TO BE CARRIED FORWARD AND SET OFF AGAINST FUTURE LONG TERM CAPITAL GAINS?

I have gone 2 dt classes but didnt find worth.not worth means i attended his classes in pe 2 nd for this time he gave the same volume and same explanation.
so i thought better i go for self study.

So please suggest me is my decision right and plz also suggest me which author book to follow?

How we can find out the accuracy of C forms,There is lots of problem at the time of VAT assessment on Fake C Forms,Here my meaning is C forms no,wrong issue by customer,C form not issued by customer

A job is offered to be done in India for which payment can be received as follows:

1. As Salary to be paid either in India or credited to Bank account in Foreign country,

2. As professional fee to be paid in India after deducting TDS in which case expenses for carrying out profession can be claimed as dedctible against income.

Which one is more beneficialfrom income tax point of view?

One of my client going to borrow some amount from a proprietorship firm, providing finance. My client is a pvt.ltd. company. My question is that whether the company can borrow from proprietorship firm without affecting the provision 58A if yes how to comply with that.
What are the procedure for such compliance.