Can any1 pls tell me that if income tax is paid by employer on perqs provided to employee than while calculating the GTI of employee are those perqs chargeable to tax again or it is exempt or only the tax paid is exempt

A Company is an exporter. It has availed Advance Licence incentives as the benifit for export.
Now one of its import consignment (say valuing Rs. 20 lakhs) after clearing the custom department of mumbai on its way to nasik was destroyed. It was insured by the seller at 110% of FOB. As the goods have already cleared the customs there was an entry in the advance licence. So, no duty is paid. We have sold the scrap in the market for Rs. 2 lakhs and we get Rs. 21 lakhs as final settlement after adjustment of Scrap sale. The excess is due to the 10% margin in insurance and some exchange fluctuation.
Now, my question is whether there is any excise liabilty arising to the party as the goods that are destroyed have earned us some money... Actuallly its a case of import thats the reason for my confusion.
If it would have been local sale then the CENVAT CREDIT claimed by us would have to be reversed but it is a case of import where CVD is exempt under ADVANCE LICENCE so no case of Credit taken but we have recovered some addition money from the insurance and does that 10 % is for safeguarding the custom factor??????

1. i have two propritorship farm.one of them is cloth and another is of chemical business.
now turnover of cloth business is 35 lacs and turnover of chemical business is 10 lacs.
whether i am liable for tax audit u/s 44AB?

2. if turnover of the profession is 8 lacs and turnover of business is 35 lacs.
then i am liable for tax audit u/s 44AB?

Can we adjust the Tax portion of CST Sales Return (only the sales return is less than 6 months from invoice) against CST Collected.

Kindly mention Section No of CST Act for this Exemption?

We heard that we can not adjust the Tax portion of CST Sales Return against the CST Collected, this adjustment only possible under VAT only for VAT Sales Returns (we operate from Karnataka), but we can adjust the Sales return amount only for the purpose of C Forms Collections. Is it true? Kindly clarify this.

Plz. answer the followings:-
1)How the Carry Forwarded Loss shown in the Balance Sheet?
2)How the unabsorbed depreciation is shown in the Balance Sheet?
3)In case of Sick Industry where there is no Profit, how the Loss is Shown in the Balance Sheet?
4)Carry Forwarded Loss can be carried for successesive 8 Yr.s, after this 8th yr. by which A/C entry this Loss is written off?

The following is a query relating to qualification for becoming member. plz help

Name of CA Student : Mr. ---
Registration N : CC-4758
Registrat : 28.02.1980
Relevant details are as under-

INTER Exam Passing Details-
Group Roll No. Attempt
I 16300 Nov. 1982
II 10862 May, 1987

FINAL Exam Passing Details-
Group Roll No. Year
I 7367 Dec. 1990
II 22653 Nov. 2008


Is he eligible for membership now..???

1. whether tds to be deduct on the interest paid to the Non banking financial company?

2. whether TDS to be deduct on loan processing charges of NBFC?......

Is service tax and or tds applicable in case of services on assignment of copyright for photos and write ups.
Explanation 2 to section 9(1)(vi)for Royalty includes copyright so i think it is TDS is applicable but i am confused.
Please help. urgent.

Dear All

Our Client Company intends to appoint a Foriegn National as Whole Time Director.

In this regard can you let me know

1. What are the limits for payment of salary under FEMA and the relavent Rules / Regulations.

2. What are the limits for repatriation of the salary outside india by the Foriegn National.

Regards
Mohit

Expenses (Lease Rent) along with Service Tax accrued in Oct~Dec’08 but paid in Jan~Mar’09. Whereas company did not have taxable income in Oct~Dec08 but It has 50% of revenue from Taxable Services, can the company claim set off of 50% of aforesaid service tax amount in Jan~Mar’09 (since set off of service tax is claimable in the period during which payment is made)

Also can the company carry forward Service Tax incurred on Lease Rent capitalised (during construction period) for set off against future taxable income (though it may provide exempt service in the interim period partly or fully)