Sir,
Karnataka VAT
Recently there was a vat audit in one of my clients place, the vat audit people are insisting the client to collect the vat on freight&forwarding charges, courier charges and transportation charges collected from the customer

regarding this kindly advice how to go about it and if any notification is there kindly post me a notification

amt. of freight ex. rs. 500000 towards which rs. 100000 extra charges so that we book bill rs.500000 & we give him debit note rs. 100000 so on which amount tds is deducted rs. 400000 or rs.500000

How to reply for queries? like wise all experts reply my queries.

Is it any specifc procedure?

pls.guide me, bec's i am trying to give reply bt i am not able to do it.

CLARIFICATION ON
A) WHETHER NON COMPETE FEE TAXABLE AS REVENUE RECEIPT U/S 28(VA) OR CAPITAL RECEIPT ?
B) STATUS OF I-T DEPT CLARIFICATION FROM CBDT ON NON COMPETE FEE FOR CARRYING REPUTED BUSINESS NOT EXPLICITLY COVERED IN THE CLAUSE `RIGHT TO CARRY ON ANY BUSINESS ' CLAIMED AS CAPITAL RECEIPT.
C)CASE REFERENCES FOR TREATING NON COMPETE FEE AS CAPITAL RECEIPT SUBSEQUENT TO INTRODUCTION OF CLAUSE VA IN SEC 28
D) LIABILITY TO ADVANCE TAX- PAYABLE ONLY IN THE ADVANCE TAX INSTALMENT DUE DATE SUBSEQUENT TO THE DATE OF RECEIPT IN CASE IT IS TREATED AS REVENUE RECEIPT OR IN THREE INSTALMENTS AS PRESCRIBED AND LIABLE FOR INTEREST ON ADVANCE TAX DEFFERMENT
E) CAN IT BE TREATED AS LONG TERM CAPITAL GAIN CARRYING A LOWER RATE OF TAX ?

My residential Co-op society has set up mobile tower on the terrace and the income generated from the same is applied for meeting the expenses of the society such as payment of taxes or establishment expenses or maintenance expenses. In this case what would be the income chargeable to tax of the society. The gross amount received as reduced by the expenses incurred or the gross amount received itself. The society has reduced the contribution from members to the extent of the income generated as above

In this case the society members are the participants in benefit but are not the contributors hence such income does not come under the concept of mutuality. Is the application of the income for the objects of society deductible as expenses

1)Mr. A is retired from prakash pvt.ltd. details are as follows:

Current basic Rs. 30,000/- P.M.
Date of joining : 01.04.1972
Date of retired : 31.03.08
No. of years completed service: 36 years & nil months
Calculation of gratuity :- 30,000*15/26*36 years i.e. Rs. 6,23,077/-

My question is whether Mr. A is eligible for full amount of gratuity Rs. 6,23,077/- or not? because company is gives gratuity to Mr. A only Rs. 3,50,000/- then what about the balance part i.e. Rs.2,73,077 whether he is entitled get from company or not? pls. explain with example.

Gratuity & PF received is taxable in the hands of Mr. A?

2)Nursery fees paid is eligible u/s 80C or not?

I want to know that B-COM Pass student can do CA. If yes what is the procedure.

I have Income form salary as well as a small income from the Insurance commission Rs. 18000/- but have the expenses for same amount. I want to refund the TDS on insurance income. should I file the return through the ITR 3 or choose itr 4 ?

ITR 4 is very lengthy form.

Because I am not doing any business or profession under the proprietary Business

Please advice me

Regards

Rajesh Jaiswal

We are taking 50% credit of cenvat and CVD paid on capital goods. What about 4% additional duty paid on capital goods imported. Should we take 50% or can we take 100%. If we can take 100% is there any trade notice or notification to support this.

We have made sales to Chennai Port trust and the buyer has deducted additional VAT as required under Section 13 of the Tamilnadu Value Added Tax, 2006 and issued us the Certificate in FORM -T for claiming. How i can claim this VAT Amt. which is in addition to VAT Charged in our bill as per Gujarat VAT Act ??