1. Defination of Contractor & sub contractor 2. In cash method of accounting can we claim TDS deducted on Advance Recevied from contractee.

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Labour charges for Assembly and Calibration is liable for service tax, & whats the limit

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We have sold goods to customer against H-Form in each quarter of the year. But customer is issuing single H-Form for whole year purchase. Should we accept it or not?

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Suppose that a sub-contractor total work done for Rs.100 & he charged 10.3% service tax.Then total gross value will RS.110.30.On what amt you will (that means on total work done or total gross value)charged Retention@10%,WCT@3% & TDS@2%.

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WCT Exemption limit ?? Pl explain on which items WCT is applicable.

5 Answers   DC, TATA, WCT,

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Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

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Dear sir, Please explain, Suppose I am not adjusted entire year the Input Tax Credit for sales tax related. Sales tax authority will return back the ITC Amount suppose not claiming not adjusted, it is possible or other wise that amount shall I carry forward next year?

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what indirect tax and in that whats include

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How to calculate gross salary from bsaic payment, D.A, T.A, H.R.A?

4 Answers   DELL, Fisheries, GSI, Hyundai, Margadarsi, MPPGCL Madhya Pradesh Power Generating Company Ltd, Omethos, Wipro,

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I have a plot at Visakhapatnam. I have entered into a contract with a builder which enables him to construct 10 flats on the plot and builder and myself will share 50:50 of the constructed area. i.e. builder will get 5 and i will get 5 flats. Builder is not paying me any other consideration apart from 5 flats. Kindly clarify as to whether any servive tax is applicable and payable by me ?- kgr varma

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when sales made in 2% cst against c-form, the buyer issue the c form to the seller, what the seller made on these c form , how can the seller benefited by the c form?

3 Answers  

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which form will applicable for tds

1 Answers   Matrix,

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