Mr. G of Gujarat selling goods to Mr. M of Mumbai. However, goods is transported directly to Mr. D of Delhi on instruction of Mr.M.

What are the document Mr. G has to send to Mr. D of Delhi along with goods and also what are document should be given to transporter as Mr. G raises the bill in the name of Mr. M of Mumbai

Hello,
I am Neetu, My Salary is Rs. 18000pm (Gross), for the A.Y-2009-10, My SAlary break up is:
BASIC 7,500.00
HRA 4,500.00
Conveyance 2,100.00
EDU. Allow 2,100.00
Dress Allo 1,800.00

Is TDS is applicable on me.
Please reply.
Thanx in Advance.

Neetu

Hello,
I am Neetu, My Salary is Rs. 18000pm (Gross), for the A.Y-2009-10, My SAlary break up is:
BASIC 7,500.00
HRA 4,500.00
Conveyance 2,100.00
EDU. Allow 2,100.00
Dress Allo 1,800.00

Is TDS is applicable on me.
Please reply.
Thanx in Advance.

Neetu

An educational school registered as society received fees Of Rs 15 Lacs during the FY 2008-09.
It has surplus of Rs 1.20 lacs after accounting of expenses(i.e Fees-Expenses)

Above mentioned society wants to take tax benefit u/s 10(23C)(iiiab) .
1.As its income is less than Rs 1.50(below Exemption Limit) even then it requires to get its accounts audited and file IT Return ?

2.Whether audit depends upon the receipts of fees ?
Please give views.

A Director of XYZ Ltd. went on Foreign Tour for business Purpose and following expenses were incurred on that tour.

Hotel Stay Charges (on 21.05.08) USD 2000
Telephone Exp. (on 22.05.08) USD 50
Taxi Hire Charges (---D0---) USD 150
Shopping Bill (---DO---) USD 750
Amusement Park Bill(on 23.05.08) USD 250

Total USD 3200

a) What Accounting entry will be passed for the above expenses?

b) What exchange rate will be used for translation of USD 3200 into INR?

c) Whether Shopping Bill and Amusement Park Bill will be allowed as expenses to XYZ Ltd. or not?

d) Whether expenses mentioned in (c) above are Director's personal expenses?
If yes then which expense head will be debited for those expenses.

Dear All,
we r service providing co. & one of our client is having guest houses all over india. we provides house keeping services as well as catering.In case of catering we used to purchase groceries,vegetables,beverages & made the complete food and the same served to guest.

and whatever the expenses we incurred that we have to reimburse it from the client.

so,want to confirm that service tax is applicable on that purchase of groceries,vegetables & other raw materials?
or vat is applicable?

Dear All,
we r service providing co. & one of our client is having guest houses all over india. we provides house keeping services as well as catering.In case of catering we used to purchase groceries,vegetables,beverages & made the complete food and the same served to guest.

and whatever the expenses we incurred that we have to reimburse it from the client.

so,want to confirm that service tax is applicable on that purchase of groceries,vegetables & other raw materials?
or vat is applicable?

Some Samples of Invoices are given below. I wish to know whether TDS is applicable in each case or not.
If yes on which amount and at what rate?

Please answer with reason

A) Vendor ABC Ltd. Okhla Delhi
AC Installation Bill :
Particulars: Amount (Rs.)
Refrierant Piping 1,27,500
Stablizer for Cassette 67,500
PVC Drain Pipe 19,950
Angle Iron Stand 31,500
Standard Installation 31,500

Total 2,77,950
Add 12.5% VAT on 70% 24,321
Add Service Tax 12.36%
on 30% 10,307

Grand Total 3,12,578

Whether TDS is applicable on 30% amount
including service tax or on full amount
or not applicable at all.If applicable
then under which section.

B) Vendor XYZ Ltd. Karol Bagh Delhi
Glow Sign Board Installation Bill:
Particulars: Amount (Rs.)
Size 17'x3' (51 SQ Ft) 10,965
Iron Angle Charges 900
Cartage & Octroi
(excluding Vat) 7,500
Night Charges (4 Persons) 1,600
Food & Bus Ticket 2,200

Total 23,165
Add: Vat @ 12.5% on 11,865 1,483

Total Sales Price with Vat 24,648

Whether TDS chargeable on Cartage
amount or on Cartage + Night Charges
+ Food or not applicable at all. If
applicable then under which section.

we are comm. agent & as so we receive comm on sale.

(for sale/pur it is 40 lacs for a/c to be audited).

what is the limit for "a/c to be audited" in our case?

Respected experts..
Ours is a private trust(non deposit taking) engaged in microfinance activity at chennai.At present we are lending to individuals under lower income group to improve their business, house and personal purpose.We planned to buy gold and sell it to the clients through loan schemes.Is there any legal formalities to be followed to execute this loan?Is there any limit to fix the interest rate for gold purhcase loans?