Dear Sir,
I will be very much obliged, if you advice me on following.

Query - An assessee has Turnover of Rs. 150 Lacs for the Financial Year ending31-3-2007. He gets his Tax Audit Report U/s44AB before 31-10-2007 but not submitting his I.T Return before 31-10-2007.As per section 139 rule 12, An assessee does not submit any attachment,Computation of Income, any Report etc. Now, My question is,
In above case if, my client file I Tax Return in January-2008(Turn over is Rs150Lacs) whether he is liable to pay penalty u/s 271B or not?
CA Divyang Parikh

hi all
i have finished MBA in finance and working I-FLEX solutions as a business analyst. i have applied for the ICWAI registration. is it a good option for me with MBA to enhance my career in finance. wat abt the articleship... what other correspondence professional courses i can pursue for better career in finance... please do advice in this regard.....
thanks for ur advice in advance

I NEED EXPLANATION WITH A SIMPLE EXAMPLE FOR CLEARITY OF THE CONCEPT

Is there any requirement to be fulfilled for a student of PCC for registration, other than registering by form 103,102 foe PCC, which can be done only within 1 month of articleship?

I have my PCC attempt in NOV. 2009. When can I get IT training, now that ICAI has opened its institute in Vishwas Ngr in Delhi ?

The rule is that we can register with ICAI only within a month of starting articleship,under the new scheme.
How can we start studying before we get the study material from ICAI,which is issued only when we register? The time gap between getting results and starting articleship cannot be wasted !

Hi,
A plot of land has 6 co-owners. They decide to build ownership flats on the plot. If the developement rights are transfered to a builder (who is one of the co-owners) what would be the Tax implication in the hands of co-owners as well as the builder.

Nazir

Facts:

ABC Pvt. ltd.(Manufacturer) exports its products,
It pays Commission to Non resident Agents.
It also pays service Tax fo Import of Services.It is not liable for service tax under any other catagory.

Example: Service Tax Payable on Commission Rs. 100, Input Excise Credit Rs. 70, Input Service Tax Credit Rs.10, Excise duty Payable Rs. 200

Questions:
- Can the company take credit of Input Excise as weel as Service tax i.e. Rs. 80 and pay Rs. 20? (I think not Possible)

- Should the Company Pay Rs. 100 for Service Tax?

- If it pays Rs. 100 as Service Tax and take it as Input Credit for Payment of Excise i.e.Rs.200- Rs.100- Rs.70- rs.10 = Rs.20, is it ok?

-Is it necessary that to consider this reverse Charge as Input Credit, You must be service provider?

Considering the above example pls. confirm The actual Libility under service Tax i.e. Rs. 100, Rs.20 and for excise Rs.120, Rs. 20?

Thanks

Sec 32 of IT act says that once the asset is either in active or passive use then it is compulsory to charge depreciation. In case the machinery (in use for production and subject to depreciation in the earlier years) was DISMANTLED this year then i understand that it is neither in active use nor passive use. Is it still compulsory to charge depreciation?

i want to ask that while calculating tds under any section when is surcharge taken in rate....? pls quote with eg...