whether the assets used for the purpose of business or profession to be included in calculation of net wealth of assesee?

Sch-III specifies the valuation method to be adopted to value the assets.What about the assets which are not covered in sch-III like motor car,land.

sir or madam, i want to know weather employer and employee contribution to esi has been disallowed if it is not deposited in due date (21st) of every month?

WILL YOU PLEASE GIVE ME THE E-MAIL ID OF CACLUBINDIA.

i have to file the return but i dont have date of formation. what should i do to find the same

Dear Experts

We are in Manufacturer, Trader & Service provider for the Textile Products having different locations (Manufacturing and Warehaouses);

And we have to pay service tax on commission income which is generated from the business of providing marketing service in relation to the textile product.

Now I am confused regarding the service tax CENVAT provisions, so can you help me about the same?

I have read service tax provisions and found doubts in following points;

1. Definition of Input Services says that the ….Input services are eligible when they are used “FOR” providing the output services….
2. and in later part the definition also says that ….and also includes…. “Services relating to activities relating to business”……
3. Services “need not be received” in the premises from where the output services provided.
4. Also there is a provision for ISD i.e. “input service distributor”.

I have following questions looking to the above provisions.

1. Whether all the services which we receive are eligible input services? Please also clarify the non-eligible services.
2. Whether input services received at the location different from the Location which is registered as output service provider, are eligible input service or not?
3. Whether in case of above que. 2 we can you the facility of ISD or it is not required at all?

Thanks a lot
Rohit Boraniya
Rohitboraniya@gmail.com

I am a mfr in Mumbai. my 1st sale to a party in Ahmedabad(Trader/Reseller). He sells it to a consumer/contractor in Rajkot. What VAT/ Local tax should Ahemedabad reseller charge to Rajkot consumer if : case1 - its a Form E1 transaction; case2 - its a Form C transaction?

Dear,

is service tax applicable for software companies having business income in India(Local Business)
please clarify

regards
praveen

hi,, this is ashish...i want to ask how to deduct T.D.S on any particular transaction, whether it is deducted on the total amount credited to the party or on the expense debited by us.( means Excluding the service tax or vat amount)...plzzzz reply.............

Sir,

Section 40(a)(ia) of IT Act 1961 deals with disallowance of certain payments where tax was not deducted in time.

But on careful reading of the section it is found that disallowances will arise only on expenses which are "PAYABLE" and not paid. Whether the term "payable " includes expenses actually paid.

As per dictionary meaning "payable" refers to "Due or to be paid". In my opinion, the expenses which are paid and TDS was not deducted, Section 40(a)(ia) does not come in to operation.

Whereas, provision for audit fees was made in Accounts in excess of Rs.20,000 and TDS was not deducted, the Provision for Audit fees will be shown as "Payable" in Liabilities side of Balance Sheet. In this situation Section 40(a)(ia) will come into play.

Is it Correct?

While referring to settled case laws in interpretation of statutes, the meaning of statute is to be construed as it appears in common parlance.

can anybody tell me under which section or page of income tax act it is written that if stcg is other than the transection, come u/s 111a,slab rate will apply in case of idividuals