Can a person I.e a Proprietor be registered under Karnataka vat as a manufacturer, wholesaler & retailer as well all-in-one under a single TIN.

Dear Experts,
in our factory there has been fire tragedy wherein one of our customer raw materials has been damaged which was brought in our factory for job work. the raw materials cost was was 4 Lakh Hence we have settled this matter by paying Rs. 3 Lakh to our customer. pls clarify.... can we avail the deduction of 3 Lakh in income tax,

Thanks
Anuj Jain

Dear Expert,
i Need clarification on calculation of HRA. A fixed percentage of commission on turnover achieved by employees shall be taken within the ambit of HRA. however we are paying incentive on turnover instead of commission. pls tell me will incentive be taken for the calculation of HRA such as ( Basic Plus DA plus incentive)

Regds
Mukul

we hire a consultant which is retired govt official working in Germany. we paying him in India rupees and in Indian account but now he told us that he is NRI from Last 2 years what to do. as we are paying him more than 2000 USD every month. as a service tax law rule person should be registered under service tax but we did not know that he is NRI how to escape,
And now that person is enforcing us that please half payment in Indian rupee and a half in USD, what to do now kindly please explain.

Sir,
My query is who fixes the price of future contracts? Does the seller of futures has to own the shares or is it possible to short sell it? If so whether it has to be bought before the market close like what we do in short selling of shares?

My client is working with an Inssurance Co and he gets salary + incentives. can we show the incentive amount as bussiness income and can we deduted expenses like depreciation, petrol exp etc in P & L a/c . Employer had issued form 16 as only salary & tds deduted on all amount .
thanks

Dear Sir,
A Assesse who is a businessman (Proprietorship Firm) has deposited cash of Rs. 2.50 Lacs in his savings bank account. I want to know what does the deposit signifies i.e. whether it signifies amount collected from debtors, or his cash in hand at the end of the financial year or anything else. Moreover what is the effect of deposit in the Profit and Loss and balance Sheet of his firm.

Thanks,
Abhishek.

Dear Sir,
A Assesse who is a businessman (Proprietorship Firm) has deposited cash of Rs. 2.50 Lacs in his savings bank account. I want to know what does the deposit signifies i.e. whether it signifies amount collected from debtors, or his cash in hand at the end of the financial year or anything else. Moreover what is the effect of deposit in the Profit and Loss and balance Sheet of his firm.

Thanks,
Abhishek.

HI can anyone elaborate the provisions of subsection 4 of section 9.
means what is the scope of this sub section
Whether it is applicable on our purchases only
or will it be applicable on the expenses portion also
say for eg; Rent services, stationery, and other day to day expenses from the dealer who are not register

Eg: If a company takes office on rent from an individual for Rs. 25000/- p.m i.e. 300000/- a year. will the company has to pay tax on reverse charge basis and claim credit of the same.

Hello,

A company is being formed in India and one of the promoter is a foreign national. Can a company issue shares ( similar to sweat shares) for consideration other cash for the services rendered by a local person for the set-up and other related services? Please advice with the procedures to be carried out.

Thanks