I have 2(A&B) properitorship concern.B business is closed on 31.03.08. But B have rceivables as per books of accounts as on 31.03.08. B's receivables received in 2008-09. A&B have separate bank accounts.I have purchased commercial Motor Vehicle for business use in 2008-09 in the name of A comcern.But EMI of that vehicle paid from B's bank account.In this situation receipts(EMI) from B's account i treat in books of accounts A as a capital addition.

Hello,
I would like to know if deducted more amount as tds then excess amount could be adjustable in next deduction means if i not deduct tds in next bill it is acceptable?

In hotels we will have to charge the luxury tax on room rent. So service tax would be taken on gross amt.? Simlarly the vat on f&B sales is taken and service tax is taken on gross amt.? During construction the bill I pay attracts Excise payment and service tax element. so can i take input credit of both (i.e. excise and service tax element). In how many years I can take input credit(i.e. of service tax and excise).? Please guide I am juggling between statues...

In hotels we will have to charge the luxury tax on room rent. So service tax would be taken on gross amt.? Simlarly the vat on f&B sales is taken and service tax is taken on gross amt.? During construction the bill I pay attracts Excise payment and service tax element. so can i take input credit of both (i.e. excise and service tax element). In how many years I can take input credit(i.e. of service tax and excise).? Please guide I am juggling between statues...

A fire occurred at manufacturing plant of a firm on 1st jan2009. The machinery was fully lost. Insurance claim received on 30th April 2009 for 80% of the value of lost machinery. What would be the treatment for these events in the accounts for yr ending 31.03.2009

If i received commission on export sales, is it liable for service tax?

In case of transaction with ASSOCIATED ENTERPRISES service tax need to pay on accrual or receipt whichever is earlier. However please advise while determining service tax liablity whether service tax credit on unpaid items can b adjusted or not.

Hi all,

We are manufacturer of any item in India and exporting goods outside India to various parties as under through an agent e.g. MR.X who is a foreigner, We are paying Commission to Mr.X for Sales done to various parties in India and abroad.

What is the rate of TDS for commission paid to such agent ?

Whether we can pay Foreign Currency as commission to Mr.X ? How?

If there is no TDS on Commission paid to Foreign agent as per Income tax circular no 786 dtd 07-02-2000

Any threshold limit of percentage of commission for paying to foreign agent ?

or

Any threshold limit of commission in INR for paying to Foreign Agent ?

Whether we have to do an agreement or MOU with the foreign Agent or not ?

Please guide me at the case is urgent.

Thanks

Please tell me the similarity between the two sections i.e 115A and 195. Plz tell me which sec is applicable and how to decide the applicability of each

Can anyone please guide me how to make Vat entry during purchase and sales. ?How to make service tax entry during sellin of service and taking input service.? Our client is Hotel so luxury tax would be leviable so what will be its %.? Morever the vat and service tax would be levieable on gross amount after luxury tax? Please guide. Thanku for ur cooperation.