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what is penalty late deposited service tax
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Answer / umesh gaikwad
No penalty, we need to pay the interest @ 13% p.a.
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You are request to reply these quieries, are below mentioned statement are true? (1) Deduction in respect of maintenance including medical treatment of a dependent who is person of disability shall be allowed to a non resident in India. (2) Only 35% of income from growing and manufacturing of rubber is liable to tax. (3) A business loss can be setoff against income from speculation business but loss in respect of speculation business can only be set-off against income of another speculation business. (4) Remuneration received by Member of Parliament are taxable under the head “profit and gains from business or profession. (5) Zero coupon bond shall be treated as “short term capital asset” if held for more than 12 months but not more than 36 months.
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