Being a proprietorship firm , we are to pay Rs.1 lakh as a contribution to a medical seminar/ held last year .
Is there any need to deduct any form of tax ( service tax /income tax etc, ) prior to paying to the organisers. The conference has no regstartion under any tax authority. I am told that some companies have deducted a part of the committed funds and depositedwith Govt .
Please eductae me.

Whether an educational institution(MBA)like IIPM, IFCI or any other such institutions providing laptops to students are liable to under FBT provisions?

An assessee engaged in the fabrication works for that he is purchasing the steels and rods. While making the above purchase he would have paid VAT so he can claim it has input credit.
The same assessee is purchasing the things for administration purposes like notebooks, pen pencil, tools to maintain office. while making the above mentioned purchases the assessee have to pay VAT.

My question is,,
1. Whether he can claim the Input Tax credit for the purchase mentioned in second para (supra) made by the assessee?

2. If he can avail it as input tax credit, the purchase amount (purchase value of administration tools)should be included in the VAT return as Purchases of Goods?

hi sir/mam.

i m CA PCC student nd cleared 1st group of my PCC xams in nov,08. as well graduate b.com (h).
i am realy keen 2 do any other course relating to CA.which help me in my job profile alongwid CA
im confused between many courses. i.e, MBA,CS,LLB,CFA.
i love 2 do work in finance area.
plz suggest me any other course in ur mind or course i explained before..
plz show me path.

thank you

vaibhav kansal

A company capitalised its asset for Rs. 10,00,000 and closed its financials for 2007-08. In 2008-09 while reconcilation with party accounts, it found that actual asset cost was Rs. 15,00,000.
Now what will be the accounting procedure for this situation

We are a manufacturing company. We are payming commission to third party for promoting our sales.On the sales commission third party charges Service Tax.
Whether we can take the credit of service tax charged on payment of commission related to sales.

Dear All

if any one not filling return for three half year then penalty will be Rs.2000 or Rs.6000(as per Rs.2000 half year)

Thanks
Manish Mehta

Is there any tax provision on jwellary gift?
Please reply.

What are the differences between Sec 80DD & Sec 80DDB.

Can an assessee claim both on single dependent..?

Dear Sir,

I have taken a housing loan for construction of a residential house property loan amount is Rs.37,75,000/- and interest paid to bank for the period from 01-04-2008 to 31-01-2009 - 371898/-
from 01-02-2009 to 31-03-2009 - 77547/-

I letout the house property from 01-04-2008 to 31-01-2009 for 20000/- p.m as rent and the same house is self occupied from 01-02-2009 to 31-03-2009

I am in the opinion that i have to claim Rs.371898/- as deduction from letout house property income and Rs. 12500/- P.M for Feb & March (1,50,000 / 12 Months)as the house is self occupied by me

It is correct or not please clarify

Thanking you sir,

Yours faithfully

Kiran G N V D