We have two units Delhi & hyderabad

Hyderabad units received the goods & sale also but accounting are done at delhi branch.

1.goods delivered/Received by hyderebad branch.
2.Goods sold by Hyderabad branch & stock transfer to delhi also.
3.Goods purchase from Hyderabad & deliver to hyderabad unit, Therefore supplier is charging VAT.(but invoice is made in the name of delhi branch bcz delhi is central office for all purchase & payment)


Q.1 Can we book pur/inventory at hyderabad branch
Q.2 Can we claim Vat Credit in hyderabad branch ( bcz phifically pur & sale are in HYd branch)
Q.3 If we take vat credit, Than can we produced Purchase details which is received by delhi branch for Hyderabad branch related goods.

Plz suggest me how to face this problem (one branch receive goods & another do the accounting)

a EMPLOYEE asking for FORM -16 for the 07-08.He withdrawing salary of Rs.25000/- (Basic- 12500, Conveyance Allowance- 2500, Medical -1500/-, HRA 8500,). But employer didn't deducte any TDS on the same. what the matter to be considerd for issuing FORM 16.
or just simply filling up the prescribed form and get it singed by employer.

Thanks & Regards,
Shambhu Jha

If a partnership gets converted into a private limited company as going concern concepts with existing partners as directors will the Permanent Account Number will get change ? Pl advise.

Respected sir/mam,
In case of warranty of fourwheeler,when amount is recovered from manufacturer instead of customer,then while doing entry in acoounts at the time of service
would vat would be charegeble if manufacturer is situated outside state
& customer is within state

Whether depreciation on motor car is deemed fringe benefit?
If yes, hou can we calculate value of fringe benefit? As per Income Tax Act, depreciation of all fixed assets is to be calulated in block method. And, under block method, we cannot find the depreciation of motor car seperately.
Please, any one, give me an answer for this !

Whether depreciation on motor car is deemed fringe benefit?
If yes, hou can we calculate value of fringe benefit? As per Income Tax Act, depreciation of all fixed assets is to be calulated in block method. And, under block method, we cannot find the depreciation of motor car seperately.
Please, any one, give me an answer for this !

Husband's(H) gross income is much higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H). H opens FD with bank & invests remaining part of that money in stock markets on his name. Bank deducted TDS with H PAN and all transancation done in stock market are with H PAN.

Does the income from FD and stock market investments belongs to W for income tax purpose? Please note that H's individual gross income is higher than W's individual gross income.

I HAVE A DOUBT ON TREATMENT OF ACCCOUNTS. THIS IS IN VIEW OF THE NEW CONCEPT OF SERVICE TAX COLLECTION (COMPANIES ARE ACTING AS COLLECTING AGENTS). WHEN I COME ACROSS THE ACCOUNTS OF CO. THIR OUTPUT BILL (112360) OF WHICH I LAHK IS TREATED AS THEIR INCOME, BALANCE (12360) AS THEIR LIABILITY TOWARDS ST.HENCE THEIR TURNOVER/INCOME DOEST NOT REFLECT THE GROSS BILLING. AS AND WHEN THEY ARE CLAIMING INPUT TAX CLAIM ( FOR EXAMPLE TEL. BILLS RS.1123) TELEPHONE CHARGES ARE ACCOUNTED FOR RS.1000 ONLY AND RS. 123 ARE ACCOUNTED IN INPUT TAX CLAIM ACCOUNT. IS IT THE RIGHT
APPROACH.

I am an individual and I have a vehicle - Hyundai Santro purchased in 2002. At present there are no liabilities on the car.[ In the sense no loan outstanding ]. I wanted to know whether there will be sales tax implicable on me if i sell my car now and which all kind of tax implications will apply to me.

Q.5) As per Rule 11 of CCR,2004 (inserted in FA,2007) Reversal of credit taken on inputs, which
are still lying in the stock, or in process or in final product lying in the stock, when final product
becomes exempt from duty subsequently.,, The amount remained in cenvat credit a/c. after reversing
the said amount shall lapse? IS this True.??