Suppose a company (A Ltd.) which is a service oriented company gives a contract to a contractor (B Ltd.) for interior work of a newly acquired premises. Total contract value is 1.5 crores. The contractor charges 12.5% on 80% of the contract value and service tax on 20% of the value. Company (A Ltd.) deducts TDS on contract under income tax act. Do company (A Ltd.) needs to deduct TDS under section 31 of MVAT, 2005 on payment made to contractor (B Ltd.). If yes, then on what amount it needs to deduct TDS under MVAT.

querry:1) if the assessee co. has received loan from the companies under same management what should be the disclosure of the same in notes to accounts
2) if i use the premises of the co. under same management and pay rent to them then is it considered a related party transaction and how should be its disclosure

in case the assessee desires to convey something by the way of seperate note which may be essential , whether it is possible in efiling of return of companies?

Sir,
We e filed a company's IT return electronically on 19.10.2007. But the ITR V acknowledgement was not displayed as the Browser hung up for few seconds as a result of which we could not take the print out.

We tried again and the message displayed was" return filed please file revised return".
What would be the best way to obtain the ITR V . Is there a specific way we can access the site based on the PAN no and retrieve a copy of the ITR V? Aliter is there any help desk at IT office to provide the ITR V?
Regards

i want to know what is the logic behind creating deferred tax assests and liablilities

hi,

DISALLOWANCE U/S 43B & 40a OF INCOME TAX OF CURRENT YEAR WILL BE TREATED AS DTA & SAME IS BEEN CONSIDERED FOR CALCULATING DTA/DTL. SIMILARLY WHETHER DISALLOWANCE OF PREVIOUS YEAR ALLOWED DURING THE YEAR U/S 43B & 40a IS TO BE CONSIDERED FOR CALCULATING DTA/DTL? IF WE DONT TAKE PREV YEAR DISALLOWANCE, THEN HOW DTA WILL GET NULLIFIED IN SUBSEQUENT PERIOD RELATINNG TO SAME COMPONENT? SINCE DTA/DTL ARISES ONLY FOR TEMPORARY DIFFERENCE & IT SHOULD BECOME NULLIFIED SUBSEQUENTLY..

whether credit can be taken on service tax paid on freight when goods brought by transpoter are non cenvatablei..e. they are not used in production/mfg of final product.

Dear Sir,

We are in agri export business.In the next year we are going to do a fresh grape export project.

I like to know what are the documents are required to be kept for purchase of grapes,sale against rejection due to bad quality,purchase of packing material,stock register grapes & packing material,making payment to the farmers and various export documents.

Also give details of contents & formats for the same.

case study
fact :assessee is in the business of selling paintings
Querry ; catalouge printed to distribute to the visitors for showing them what is in our gallery so where it should be disclosed i.e wether in advertisement or sales promotion or printing charges
please reply urgent

WHAT WILL BE ITS EFFECT ON FBT

HOW SHOULD THE FOREIGN EXCHANGE DIFFERENCE BE DISCLOSED IN CASE OF A PVT LTD COMPANY'S BALANCE SHEET?? CAN IT BE ROUTED THROUGH P&L ACCOUNT OR HAS TO BE REFLECTED IN THE BALANCE SHEET ONLY? THE COMPANY IS AN ASSOCIATE OF THE COMPANY ABROAD????