I would like to know where the cash discount applicable -- before vat amount or after vat amount?

Example-1

Rs. 100.00 Net Sale Amount
Rs. 005.00 Cash Discount
Rs. ______ Vat Amount ?

Example-2

Rs. 100.00 Net Sale Amount
Rs. ______ Vat Amount ?
Rs. 005.00 Cash Discount

Which is correct? please advice me?

Hi! Guys

Iwant to know that can v take salary Income against adjustment of Unabsorbed Depriciation.
plz Suggest.....

Hi! Guys

Iwant to know that can v take salary Income against adjustment of Unabsorbed Depriciation.
plz Suggest.....

Hello,

I want to know whether as per Income-tax laws is it possible to adjust Short-Term Capital Loss on Sale of Equity Shares agaist Short Term Capital Gain on Sale of Land.

If yes plz give me reasons with income-tax provisions.


plz reply as early as possible

Hi,

ICAI member with part time COP can not do Attest function.

What is covered under attest function?

Member with part time COP what work he can do and what are the works he can still continue to do?

Hi All,

My client has bought 5 REVA cars (electricity cars).
Now he wants to charge depreciation on them for the FY 2008-09. So, I need the rate od deprication on Electric Cars as per Income Tax Act 1961.


Regards,
Sree :)

please suggests whether loan taken for higher studies is eligible for deduction in incometax or not?

Asst Year 2004-05 Loss determined u/s 143(3) Rs.2,40,000/-,A.Y,2005-06 Loss Rs.5,000/- u/s 143(1)(a).During A.Y,2006-07 Return filed showing Income Of Rs.8,000/-.Assessee failed to mention carry forward loss in A.Y.2006-07.Scrutiny Completed in the month of Dec 2008 with Income of Rs.2,10,000/-.carry forward of loss denied by A O on the ground that it is not mentioned in I T Return.During A Y 2007-08,A.Y.2008-09 above loss has been mentioned.A O insisting to pay taxes on the ground that it is not mentioned in the Return filed.Is the A O Correct?

Asst Year 2004-05 Loss determined u/s 143(3) Rs.2,40,000/-,A.Y,2005-06 Loss Rs.5,000/- u/s 143(1)(a).During A.Y,2006-07 Return filed showing Income Of Rs.8,000/-.Assessee failed to mention carry forward loss in A.Y.2006-07.Scrutiny Completed in the month of Dec 2008 with Income of Rs.2,10,000/-.carry forward of loss denied by A O on the ground that it is not mentioned in I T Return.During A Y 2007-08,A.Y.2008-09 above loss has been mentioned.A O insisting to pay taxes on the ground that it is not mentioned in the Return filed.Is the A O Correct?

Dear all,

We have reimbursed a sum of Rs.1,35,00 to one of our employees for notice period pay to his previous employer. Does this attract FBT , if so what is the percentage? Does it become Income for the purpose of calculation of tax for the employee?