whether we can accept internal audit of a company where one of the directors or chairman is my relative ? if yes.. whether it has to disclosed in the report....

Hi,
my query is :

My client is providing construction service to a commercial entity under a contract. As per contract steel and cement are provided by the receiving company while other input like sand, kapachi, stone,bricks etc. are to be purchased by the service provider. My client has opt for abatment and has paid service tax on 33% of contract amount. He has not added the value of cement,seteel provided by the service receiptent . He has not claimed cenvet credit for input nor has availed benefit under notification no. 12/2003. He is thus eligible for abatement as per notification 15/2004.

The service tax department claim that as the contract is not of composite nature abatment can not be claimed and want to raise demand on 67% of contract value for the period from 1/9/2004 to 30/09/2005. They want to apply circular no. 1/2006 for the captioned period. After Oct.-05 the service provider has paid service tax on entire amount including the value of material supplied and abatement is not claimed.

KIndly guid the service tax department's propose action to disallow abatemnt for the period from 1/9/2004 to 30/9/2005 on the ground that contract is not of composite nature is justified

CA Rajesh Sheth

A company regularily purchase stationery items like CDs, toner cartridge etc. from a single shop. Whether the company is liable to deduct TDS on the above???

thanks for reply sharma sir, where is mr.sampath's institue
tell me the address clearly where it is located please

Dear sir

any notification issued by board for transition for ca pe ii came from
Non-pe i stream or by any other ,Since institue has not issued any details for transition for others than people came from pe i .to pe ii????????if not wat is the position of a candidate who completed 1st group in pe ii .whether he ll be allowed to take articleship and simultaneously appear for pcc???or he has to complete pcc on the other group.and then only articleship????

Hi,
I have received the Direct tax module from the ICAI relevant for A.Y. 07-08 which im sure is not relevant for my attempt in Nov' 09.
Hence i wanted to know which will be the A.Y. relevant for that Exam and whether there is any supplementary issued by the Institute as an update to this old module or can we get a new module altogether?
And also can anyone can suggest some other book for taxation other than the module of ICAI?
Thanx,
Pratik.

i cleared my pe-2 in may 2007.

i registered for articleship in august

would like to know when is my first final ca attempt under the old scheme.

Dear Sir,

We are 100% EOU of GRANITE EXPORTS
and we have one own quarry also.

We are taking the raw material from that quarry around 60% and 40% of the material we will sell to DTA.

then What about the cusoms and excise duty on that one.

Pls Explain to me.

i want of data on the performance evaluion of mutual fund based on current data. an u tell me or send the any file or project for the same its urgent.

i have purchase reliance mutual fund of Rs. one crore in weekly dividend re-investment plan in april and redeem some unit after each month of Rs. 500000.00
what should be the value of investment as on 31st march 2008 in B/S.
when we invest then entry done
investment Dr. Rs one crore
to bank Rs one crore

when redeem then
bank
to investment

is there any capital gain on the redeem is STT has been deducted on the redeem value?