X LTD. IS A LISTED COMPANY AND IS REQUIRED TO PREPARE QUARTERLY RESULTS. IN THE PROCESS OF PREPARING QTR. RESULTS IT HAS MADE PROVISION FOR THE FOLLOWING EXPENSES WHICH HAVE BEEN INCURRED BUT NOT INVOICED BY VENDORS TILL THE END OF QUARTER:

FABRICATION RS. 2,50,000
WASHING EXP. RS. 1,10,000
SECURITY SERVICE RS. 1,56,000

ENTRY PASSED FOR THE PROVISION OF ABOVE EXPENSES IS:

FABRICATION DR. RS.2,50,000
WASHING EXP. DR. RS.1,10,000
SECURITY EXP. DR. RS.1,56,000
TO PROVISION FOR EXP.RS.5,06,000

NOW I WISH TO KNOW WHETHER TDS LIABILITY ARISE ON THE ABOVE PROVISION OR NOT ?

IN MY OPINION TDS IS NOT CHARGEABLE AS NO CREDIT HAS BEEN GIVEN TO ANY VENDOR OR SERVICE PROVIDER.

PLEASE ANSWER CLEARLY.

Can you please provide me a copy of Form 15G and 15H for downloading. Alternatively, please provide a link for the same. The form available on Income Tax website runs into 4 pages because of its format and fonts.

DEAR SIR,
I have got my 109 singed on 23.03.2009 and where i will be re-register he is giving me the date of 18.04.2009. After the annoucement can i get myself re-register to another ca on 18.04.2009. if no, then what i have to do????? I have already left my previous office and the sit's are full under my previous employer. This is my position right now. What i can do...
I am in crucial postion Please help me out.....

please tell me about vat 49 for transportation in detail i.e where it is used.


if we are sending material to otherstate and we made four bill of same date and continue number i.e 1 to 4 to one party. then how many vat 49 is required to issue.

Thanks

Dear Friends,

My company is importing raw material on LC 90 days.Payment is to be made on 90 days from shipping date. We have to book purchase on receipt of material. My question is that at what rate we should book the invoice which is in dollar.If we book it on current rate than difference will arise as payment is to be made after 90 days . How such transaction is to be accounted in books. Pls reply me on "rajeev20@hotmail.com"

What is the due date TDS remittances to govt on tds deductions from salaries for the month of march 2009. What is the due date under which section/rule as per income tax act

Is there any information is required in tds deduction u/s 195, if yes how to furnish and in which forms ?

Is set-off of Input Credit for service tax to be claimed only on actual clearing of the cheque or if the cheques have been drawn and received by the drawee, should that be considered as adequate for claiming set off against Output Credit ?

HI FRIENDS,
I HAVE A QUERY REGARDING TDS:

X LTD. HAS GOT DONE A FABRICATION WORK FROM A CONTRACTOR Y LTD. INVOICE RAISED BY Y LTD. IS OF RS. 10,00,000.

INVOICE AMOUNT IS IN EXCESS OF JOB ORDER BY RS 50,000. HENCE X LTD. RAISE A DEBIT NOTE ON Y LTD. OF RS. 50,000 ON THE SAME DATE ON WHICH INVOICE IS BOOKED.

NOW MY QUERY IS THAT WHETHER TDS U/S 194C SHOULD BE CHARGED ON RS. 10 LACS OR ON RS. 9.50 LACS.

I KNOW THAT TDS IS TO BE CHARGED ON ANY "SUM" CREDITED TO THE PAYEE ACCOUNT.
BUT IF WE DEDUCT TDS ON RS 10 LACS, IT WILL BE UNFAIR TOWARDS Y LTD. JUST BECAUSE WE ARE BOOKING INVOICE AT FULL VALUE AND THEN RAISING A DEBIT NOTE ON HIM.

SURELY Y LTD. WILL GET THE BENEFIT OF TDS AT THE TIME OF ASSESSMENT. BUT EXCESS TDS CARRIES AN OPPORTUNITY COST IN THE FORM OF INTEREST LOST.

PLEASE ANSWER ELABORATELY.

HI FRIENDS,
I HAVE A QUERY REGARDING TDS:

X LTD. HAS GOT DONE A FABRICATION WORK FROM A CONTRACTOR Y LTD. INVOICE RAISED BY Y LTD. IS OF RS. 10,00,000.

INVOICE AMOUNT IS IN EXCESS OF JOB ORDER BY RS 50,000. HENCE X LTD. RAISE A DEBIT NOTE ON Y LTD. OF RS. 50,000 ON THE SAME DATE ON WHICH INVOICE IS BOOKED.

NOW MY QUERY IS THAT WHETHER TDS U/S 194C SHOULD BE CHARGED ON RS. 10 LACS OR ON RS. 9.50 LACS.

I KNOW THAT TDS IS TO BE CHARGED ON ANY "SUM" CREDITED TO THE PAYEE ACCOUNT.
BUT IF WE DEDUCT TDS ON RS 10 LACS, IT WILL BE UNFAIR TOWARDS Y LTD. JUST BECAUSE WE ARE BOOKING INVOICE AT FULL VALUE AND THEN RAISING A DEBIT NOTE ON HIM.

SURELY Y LTD. WILL GET THE BENEFIT OF TDS AT THE TIME OF ASSESSMENT. BUT EXCESS TDS CARRIES AN OPPORTUNITY COST IN THE FORM OF INTEREST LOST.

PLEASE ANSWER ELABORATELY.