We are a manufacturer exporter. We have given Letter of undertaking and renewing it yearly from 2003 onwards. During 2007-08 by oversight the LUT expired during June 31st and subsquently it was renewed only in September 10th.

Now the department is asking ( SCN given) us to pay the duty for the exports made during the period between July 1st to September 9th.

My doubt is obtaining LUT is only a procedure and there is no revenue loss to the government. Moreover we have the proof of export with us. If they insist to pay the duty, whether we can apply for refund or recredit based on the submission of proof of export. Please clarify the things at the earliest

Thanks in advance

Hi,

Our client is paying Bonus to there employees in may 09 & TDS on it to be made, but employees are requseting to deducted the TDS on Bonus across the year 2009-10. Is this possible ?

Please reply with along provisions, if any.

Regards,
Sree :)

For the month of April -09 Rent paid on 10.05.2009. Tds will be deducted while making payment. Tds amount remittance dt should be before 7th june-2009 Or 10th may -2009. pls advice me

In continuation of the new circular issued by CBDT the firms liable to tax audit u/s44AB has to furnish their return electronically with digital signature for the A/y 2009-10. My query is how and where to approach to obtain digital signature for firms? Is there any intermediaries to get digital signature for firms?

Bonus paid during the year Rs. 120000 ( for the year 2007-08)
Provision for the bonus made during the year 2008-9 Rs. 140500. ( Which is not yet paid )
What is the imapct of above transactions in the calculation of Deferred Tax.

an assessee (individual) has a capital gain of rs.606575 as on 16-07-2008. he also has income from salary rs. 36000. the tax liability (incldg. cess )on the above comes to rs.101471. he pays rs.75000 as tax on 13-09-2008 . i would like to know what is the interest he has to pay under section 234 B & C .

WE SOLD 50 PCS EXCISABLE PRODUCT TO OUR DISTRIBUTOR. AFTER 4 MONTHS THEY HAVE REURN 5 PCS FOR REPAIRING WHCIH RECEIVED FROM CUSTOMER AFTER SELLING THAT PRODUCT. IN REPAIRING PROCESS WE USES SOME EXCISABLE PARTS FOR REPAIRNG THAT GOODS (THIS PARTS IS FREE UNDER WARRANTY PERIOD). WHAT ENTRY WILL PASS FOR THIS ?

IS IT
ADVERTISEMENTA/C ..........DR.
TO FREE SAMPLE
TO EXCISE
To Education Cess
To S&Hs Cess

Will we have to pay FBT on this FREE parts?

i received LTA 5200 in cash for the year 2008-09. is it taxable or exempt under section 10.

i received ed. allowance 350 per month Yearly 4200/- so how it is taken in computaion of taxability.

Does transfer from one NRI a/c to another NRI a/c amount to ECB?

Hi
We hava a mfg unit and having registration under service tax GTA and other..but our products are not Excisable.
We are paying service tax under verious services...as wel as on Outword freight under GTA..can we get credit of these all payments under service tax.