I have started Proprietorship for trading in Edible coconut oil.My office is in Navi Mumbai.
I will buy Coconut oil from supplier in Kerala and supply to customers in Maharshtra, Tamilnadu and Delhi.

I want to ask about whether I have to pay any CST/ST/VAT for:
My office is in Navi Mumbai and supplier in Kerala and my customer is in:
1.Maharshtra
2.Kerala
3.Delhi
If I have to pay any taxes for the transaction for the above 3 cases then when & how it is to be paid?
How the billing should be done for the above?

How to get the registration for the taxes if required?

What is rate of Income Tax for the Proprietorship? and when I have to pay the same?

Kindly clarify the above queries.
Regards,
Sucheta

Under section 24 Municipal / property taxes paid is allowable as deduction from income from House property.
Similarly under the service tax laws as per notification 24/2007 provides for deduction of municipal / property taxes paid is allowed as deduction for purposes of computing service tax payable.
Can an assessee claim both these deductions ? or as in the case of CENVAT on capital goods and depreciation , only one deduction is allowed either for service tax or under Income tax?

I have just passed the C.A. exam & appearing for campus interview at Ngp. i want to know about it.

what is the diff between AOP & BOI

what formalities required to do while delition of any object from the main object of the memorandum of association of the company as per companies act 1956

Hi all...had a query..hope u can help me out.

Say a construction company XYZ has 2 project sites called A & B. C is the head office. A supplier say RAM supplies materials to both sites & some to head office. He is paid money by head office : 2.00 lac for Site A , 3.00 for site B, 1.00 for C.

I wud like to know the amount given to RAM in acocunt of diff. sites. & likewise for other suppliers . Suppose if i open ledger for SITE A ..i shud c suppliers RAM, SHYAM ..etc and theier amounts respectively . I require the procedure of grouping into groups/ledger and way of accounting. I hope my query is clear

Can addl depreciation u/s 32(1)(iia) be claimed on laptop used to operate a machine which in turn is being used for manufacture.
Pl reply at earliest.

A Machinery was purchased which is not a qualifying asset as per AS 16. A loan was obtained to purchase the machinery. While the loan was obtained, Stamp Duty Charges were incurred.

Pls clarify whether the Stamp Duty Paid for obtaining loan can be capitalised?
or
stamp duty charges can be treated as borrowing costs and accordingly charged to P&L Account as the machinery is not a qualifying asset?

If your answer is "Yes, You can capitalise", Pls consider the following points.

As per AS 10, any costs directly attributable to bringing the asset to its working condition for its intented use, can only be capitalised.

And finance and borrowing costs (Ancillary costs such as Stamp Duty, Processing Charges, etc. are also included in the finance & borrowing cost )can be capitalised and included as an element of cost of Fixed Asset, provided the asset is qualifying asset under AS 16.

In the above case, the asset is not a qualifying asset. How can i capitalise?

plz support your answer with proper supportings

Whether TDS is applicable on Medcine purchase by Distt Health Socitey for free distribution in Govt Hospital u/s 194C.

Dear Sir/Madam,
we are in Exports and pay service tax against our export is around 2,00,000/- per annum

we also get income from rent and get service tax of Rs. 3,00,000/- per annum

now we want to adjust this amount in our Return
can we pay 100000/- (300000-200000)
then how to make return