Dear All,

Can anybody tell me that whether TDS should be deducted inclusive or exclusive of service tax charged by the party u/s 194j and 194i.

warm regards,
Sunil

Hi,

As per last circular issued by income Tax department, payment of tds/tcs of april & May 09 will be as usual in old form i.e 281, but tds of june 09 is supposed to be in new form 17 and the same will be effctive from 1st july 09. There were lot of NSDL's role also prescribed. We had no received any communication as such from NSDL yet. When we asked about it the NSDL office expressed they had no news too.Do you have any news?

Hi everybody
While filling IT return, on the "ACKNOWLEDGEMENT SHEET", there is coloumn asking to fill "Status (fill the code)", what is it?
And what code is to be filled in it.

Dear all,
This is an issue about which many people give different opinions whenever i ask.
There are 3 views i have come across regarding the latest amended 40A(3).
If an asset (say plant and machinery) is purchased for Rs. 50,000 in cash,
a) the same shall be added to the computation of income from B&P, since it involves the payment of cash above Rs. 20,000 on the same day to the same party.
b) the depreciation on such depreciable asset is disallowed
c) there is no disallowance since it is the purchase of a fixed asset and is hence covered by exemption Under rule 6DD.


Please is there a consensus on this issue in any case laws/rulings?

Whereas many people (including CAs) say outright that (c) is the correct stance, I have come across the view that disallowance under 40A(3) applies to depreciable assets [Direct Taxes Reckoner by Dr. Vinod K Singhania for Assessment years 2008-09 and 2009-10, Page A-110, Para 49.3.3.5, (Taxmann publications, May 2008)]

I AM WORKING IN INSURANCE BROKING COMPANY

PLS TELL ME ABOUT SERVICE TAX INPUT CREDIT. CAN WE TAKE 100% CREDIT ON SERVICE TAX. WHAT IS THE INTEREST IF NOT PAID ON TIME. WHAT THE SERVICE TAX LIABLITIES ARISES, I MEAN WHEN WE RECEIVE THE SERVICE TAX OR FOR THE PERIOD IN WHICH THE SERVICE PERTAINS.

Hello,
This is raghu here,

I just wanted to know what is meant by raising finance by equity private placement.

One more thing, i have my final attempt in this november. I heard from some body that the exams will be conducted daily as against the present structure of conducting in alternate days. If this is the case there will be hardly any time to revise the subject before going to exam, please let me know if this is correct.

Awaiting prompt response

@raghu@

Dear Experts,

What is the form to be followed for remitting the TDS of June 09.The final CBDT circular quoted that the new Form 17 comes into force from July 1st 09.
But the Form 17 is not yet uploaded in the incometax website.
Can the TDS be remitted in Challan 281?kindly clarify with the latest circular if any in this regard.

WE ARE MANUFACTURAR EXPORTER
WE ARE PAYING SERVICE TAX ON GTA FREIGHT INWARD AND OUTWARD BOTH

WE GOT A LETTER FORM RELIANCE INDUSTRIES LTD
OF THE SUBJECT

DISCHARGE OF SERVICE TAX LIABILITY ON FREIGHT PAID ON EX WORKDS/EX PLANT DESPATCHES

RELIACING IS AKING FOR TO PAY THE SERVICE TAX AND ALSO ASKIN FOR THE SERVICE TAX NO
AS WE ARE PAYING THE SERVICE TAX,AND ASKING A DECLARATION ON THE LETTER HEAD OF THE COMPANY

WHT SHOULD WE DO

PLS ADVICE

THANKS & REGDS

RK SAINI

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Meaning of commercial estabilshments or complexes under wealth tax act. Is only big malls will be included in it or small markets of 5-6 shops are also included in this