Assessee has STCG in A.Y.04-05 which he has setoff agst b/f LTCG of A.Y.02-03.
A.O.did not allow setoff on the basis of sec.74(1)(b). Sec.74(1)(b) came from w.e.f. 01/04/2003," in so far as such loss relates to a LTCA, it shall be set off agst income, if any, under the head Capital Gains assessable for that A.Y. in respect of any other capital asset not being STCA."
So my query is whether assessee can take setoff of STCG agst LTCL.

Company X providing card swiping machine facility to various merchents and getting service charges for the same, all transactions are routed through card issuing bank and a settlement bank. Company X getting service charges from various merchants in turn Company X paying commissions to card issuing bank and settlement bank for their service. I need to know whether TDS need to be deducted while making such payments such to banks.

I once again want to raise the question that whether sect 274 1 g applicable only to the director of public ltd. co or pvt ltd. also??????? As I am not satisfied with prev. soln'.

Hii group member's,
Can someone give me the combined study of service tax & VAT in case there is a contract of supply of material & services both (Let say i have to install my electric items in clients place with the help of few labour cost and full payment i'll receive is 1000/- which can't be separated in material & labour)
- What will be the compliance of WCT which is charged @ 4 percent
- What will be the billing format? service tax & VAT both will be charged at the same time or not?
- What will be the issue of composition scheme?

We are paying service tax thro using input credit available. While filing ST-3 Return I have reported gross receipts as inclusive of Service tax amount and calculate service tax on total receipt and file the return for the last 1 year. Is there any way to file revised return now?

I have paid thro Input service tax credit and utilised that credit in excess.

Say my invoice value is 12500 (Tax 2500)
I have shown after receipt from the client
and pay tax on Rs.12500 X 12.5%.

Kindly help me to solve this problem.

Thank you in advance.
URGENT

Suppouse I have two lorry then I have toenjoy the benefit of u/s. 44AE ?

Suppouse I have two lorry then I have toenjoy the benefit of u/s. 44AE ?

Friends My Question is,

The financial year of a company ends on 31st December.on 1st January it is amalgameted with another company & it lost its induvidual identity.under the income tax act F.Y. ends on 31st March. I want to wheathe it is possible to sign the tax audit report & balance sheet on 31st march or it will sign on 31st december

Hello Sir,
Myself,I am aashish agarwal,i have done 12th this year having commerce stream with maths.My query is i want to know all the opportunities and options with their age limit and other important information, i have in commerce like C.A.,CS,etc.Instead i am prepapring for CA entrance but i would like to know.I enough intelligent to have any courses as i can assure i would have 90+% in 12th.I would also wanting to know the sites i can go through as soon as possible.
Thanking you

whether repairs & main. of Plant & Machinery amounts to contract for TDS liability? And whether Service tax liability also arises to be deducted from the payment made to contractee??