A enters into Marketing agreement with B. According to agreement A will pay 5 % on sale value. However, if any discount passed by B that shall be on account of B only. B sold the goods at Rs. 100 and give discount of Rs. 2 to ultimate customer. According to agreement, A raise invoice of Rs. 98 to customer. B raises the bill of Rs. 3 to A. Now question is that whether service tax is liable on Rs. 5 or Rs. 3

If the assessee is an NRI and US resident and has taxable income in India then how much exact(in Rs) deductions can he claim u/s 80C-80D for following items:

1. Paid US$ 200 for life insurance on 25/6/07 to US insurance co

2. Paid US$ 100 for medi claim on 20/09/07 to US insurance co.

3. Deposited US$ 1500 as 5 yr FD in US bank on 10/01/08

4. Repaid housing loan principal amount US$ 1250 to US housing finance co. Loan is taken for self occupied flat in US only. Will he be allowed to show this flat under income from House property and claim interest deductions as well u/s 24b

I does not understand lot of points in costing. please help me what can i do for the same.

i have to file the return but i dont have party's pan card. i want to know the date of formation of that firm. what should i do to find the same

I does not understand lot of points in costing. please help me what can i do for the same.

My friends business is retail outlet of Reliance communication ltd. In this business his trading of Mobile is Rs. 24.00 Lacs and trading of E Voucher, top up is Rs. 1.21 Crore which is service item trading on commission basis on behalf of Reliance Communication under the name M/s. XYZ Communication. I want to know whether audit u/s. 44 AB is applicable on this business for the Asstt. year 2008-09

please help me to calculation method of the ex-interest & cum-interest. also explain the difference between both?

Dear Friends,

Payments made for hotel accomodation taken on regular baisi will be in the nature of rent subject to TDS under Sec 194-I,

Where year marked rent rooms are let out for a specific rate and specifed period or where a room or hotel has a legal obligation to provide such types of rooms during the currency of agreement construed to be accomodation made available on regular basis.
Circular No. 5/2002.

My query is :

If hotel is booked by the organisation for some trainings/Confereances, do we need to deduct tds if the room bills are raised in the name of participants but paid by the organisation.or will constued as rate contract agreement accopancy is on ocassional or causal. There is also no legal obligation on the hotel to provide rooms.

Frequency of such trainings are once in two- three months however each payment is more than Rs.120000/-. rooms are occupied for 5 or 6days for on each such occations

can anyone tell me how to make accounts for insolvency of firm.

What about the small vendors like karyana shops etc....How should they prepare their accounts as most of the goods involve very nominal amounts..?