S.Srinivasaraghavan's Expert Profile

Queries Replied : 3560

About me

I am a Chartered Accountant, Cost Accountant and a Company Secretary.

I am attached to Amalgamations group of Chennai. I am also on the Board of some of their group companies, besides being a CFO & CS of Simpson and Company Ltd..

Interested in Carnatic Music, Deep reading of Science and Spiritual books and reconciling scientific truths with spiritual experiences, Travel, Games like tennis, cards etc., Watching documentaries on Animal plannet, Discovery, National geographic etc., Internet browsing - websites of Wikipedia, Nature, Astronomy and Professional forums.

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Varsha Jain says : income tax
Dear Sir, I have modified my question (TDS on frieght).Kindly consider it again. Thankyou

Deepa says : section 40(a)
In MANY CASES , THE PAYEES ARE IDENTIFIABLE AND THERE IS NO TAX PAYABLE AS PER THEIR RETURNS EITHER FOR THE REASON THAT THEY HAVE INCURRED LOSS OR FOR THE REASON THAT THEY HAVE ALREADY PAID TAX PAYABLE AS PER THEIR RETURNS. Is this correct?

Deepa says : TDS
Tax is deductible at source, but the assessee inadvertantly did not add surcharge for computing tax deductible.Please guide on this.

Deepa says : Taxability
Under Micro,small and medium enterprises Developement Act,2006, a supplier is entitled to interest in case of delayed payment irrespective of agreement between supplier and customer.Whether such interest can be considered to have accrued as income liable to tax under income tax act, 1961, although no such interest is claimed or allowed or expected to be claimed or allowed.

Rajan Kapoor says : service tax liablity
Gd Aftrnoon Sir, I want to know something regarding service tax. In case of service tax, if a person in India takes services of any person who is abroad, then the service tax liability is of the service receiver. Now if an Indian has taken the services in aborad of any agent for arranging Foreign Currency Convertible Bonds and paid the agency commission in aborad out of the funds received through FCCB. Now the question is whether we had received the services in aborad or India? Your earlier response will be highly appreciated Regards, Rajan Kapoor CA Final Student