We have wrongly mentioned A.Y. 2009-10 instead of 2010-11 in TDS challan. what is the procedure to rectify it and what are the consequences of not rectifying it?? Is there is any penalty or interest liablity as i have not seen any such thing in the Income Tax Act. Please help me out

Hi All
Please can you help me in the following question

1 What is VAT? How should I explain about VAT at the time of interview?
2.What is criteria to be registered under VAT ( Mean to what turnover should be there in individual & Company)
3. What form number is used to be registered in VAT?
4. How many times are Vat returns filed and which form numbers are used to file a return(in individual & company)?
5. what is due date to file a return & challan?
6. what is treatment for Capital Asset under VAT( purchase a machinery 500000)? How will we take credit from this and what entry should be passed?
7. what is CST?

Thanks in Advance

Monia

This is with refrence to Profession Tax.
We are aware of due dates of remittances of PF and ESI remittances.
Is there any such mandatory due date fo payment of Profession Tax?
And what about the filing of returns? Any such mandatory requirements?

Whether a Branch of foreign Company can take a loan from its Head office to run the operation or for infrastructure.

if yes what rules and regulation will be applicable i.e pre approval from RBI/ FEMA or any other authority.

please suggest.

IF WE ARE PAID ROYALTY TO PARTY AND WE ARE NOT HAVING PARTY ACCOUNT BECAUSE OF HE IS NOT GIVE US THE BILL WE ARE DIRECTLY MADE PAYMENT . SUPPOSE HE IS CROSS THE LIMITE THANE WE ARE DED. A TDS SO HOW WE ARE ACCOUNTED.

Respected Sir,
Whether i can appear in Nov/Dec-2009 PCC Examination
So,Herewith I Furnished details regarding My articleship
Reg No:PCC/SRO/0243837
Date of Joining Articleship:12-06-2008


Pleease,give your advice Sir,
Thannking You,
Yours Sencierly,
Veerendra

The assessee an exporter had entered into a Forward Contract for hedging the risks associated with Foreign Currency Fluctuations.
However, due to depreciation of Rupee, the Assessee had to cancel the Forward Contract. The Bank Debited the Assessee for Difference in Exchange rate prevailing on cancellation date and Contracted rate.
Whether loss that assessee had to bear due to such cancellation is allowable under the Income Tax Act??

Can anybody clarify whether a receipt / payment above Rs. 20000 is admissible for a corporate entity (ltd. Company) in context to income tax act.

IS IT POSSIBLE FOR A NRI TO ENTER INTO PARTNERSHIP WITH A RESIDENT, IN INDIA. IS ANY SPECIAL PERMISSION FROM RBI REQUIRED FOR THAT IF SO WHAT R THEY
PLS...... ANS........

Assessee is engaged on the business of renting of room sales for Guest in Delhi and registed under sales tax.The same room was taken on lease rent basis.The landlord charged @Rs.4,25,000 p.m.as per agreement. The landlord is individual and not registered under service tax.Now, no bill/invoice is raised by the Landlord.The assessee company booked lease rent expenses in the books of account as per agreement.

My question is whether the service tax liability is goes upon the landlord or not.

Second question is if the landlord is not registered under service tax then the liability of service tax can be arosen to assessee company.Is company is eligible for input service tax credit?