Dear Experts ,
I have client who is in heavy intra day trading in Shares .
Past Financial Year his total inter day purchase sale has execeeded Rs.40 Lakhs
.. Is he liable for Tax Audit u/s44AB..
I Have kept his return pending for this reason ... Please Reply

Dear sir,

If we receive the invoice from a automobiles co. rgarding service of car, the spare parts cost & job work charges are seperately mentioned in the bill.
In this case Sec 194 C is applicable or not & if applicable then what is amount?

Please confirm that whether we have to charge service tax at the rate when the services were rendered or the rate which is currently prevailing.

An employee has to return the sign on bonus which was given to him in february(returned in april).

Tax has been deducted on the bonus when it was given to the employee.

How to claim the tax deducted as the bonus is no longer income of the employee?

In which year should the tax be claimed as ther is change of financial year?

What would be the treatment if the employer also chanGE?

Please tell from the point of view of employee.

Name : Bhargav Vaghela
Membership No : 124619
Associate Year : 2006

I have started my practise as proprietorship.

I want to empanell for Statutory Bank Branch Audit,

Should i eligible for that? if yes, What is the procedure for the empanellment?

Any updation from income tax act (service tax)does not come under my mail id.

I have face the problem for service tax
because percentage of service tax reduced from 12% to 10%

I first thanks to join in caclubindia.

If any updation regarding income tax purpose please forward my mail id
my mail id given below

chandrasekaran_vse@hotmail.com

sir
one of my staff is paid salary per month rs 23000.00 but our firm doesnt have any salary structure please can u provide salary structure because some expenses are allowed & some disallowed

regards

sir
we are a cha firm.I have not deducted tds from april 08 to feb 09 now i will deduct tds for april to feb.the tds amount is rs 74695.00 but i dont now how to cal. the interst.so please say me the formula for cal. interest on tds. 1% interest is charged so from april to feb its 11% so i should cal.74695*11%=8216.00 is it right please say.

please say me the accounting entry to pass the tds for party
party dr
interest dr
tds payable cr
is the entry right.

regards
survesh

WE HAVE GIVEN 1ST,2ND&3RD PRIZE WITH CASH TO OUR DISTRIBUTOR FOR MOST SELLING OUR PRODUCT(THIS NOT INCENTIVE). CAN U TELL ME, FBT APPLICABLE ON THIS IF YES WHICH SECTION ?

Dear Sir,
I have had a transaction with an MNC company who have manufacturing facilities in India (registered in excise) & they also have at 7-8 manufacturing facilities across globe . They import refrigeration units from their other locations & sell as it is in India.
I had purchased a refrigeration unit with them , the bill raised by them shows basic value ,CVD & sales tax . On top of bill heading says Delivery challan Cum Retail invoice. However invoice didn't had any excise no. information.
Now I want to claim modvat & asked them for the same. They are saying that they can not pass modvat & value shown is just a build up. For information earlier while releasing PO I had not mentioned anything about Modvat .Please suggest if I can get setoff.