I am running a small business under labour charges. I
purchase raw material paying tax. I do not have a tin no.
In that case kindly advise How to file IT returns of my
company and whether I can claim tax refund.
- 1 Answers
- 2903 Views
- I also Faced
- E-Mail Answers
Answer / abhivirthi tax and industrial
Purchase of raw materials by paying Input VAT Tax is used for the small business of labour charges. Input VAT paid at the time of purchase of raw materials were paid to the respective State Government and the same can be adjusted only if there is sale by using the raw materials and will not be refunded by the State Government.
Filing of Income Tax Returns relates to Income Tax Act and the Income Tax Relates to Central Government.
There is no provision to refund the tax paid to the State Government under State Government’s Act by the Central Government under Income Tax Act as the Acts and Governments differs.
In simple the tax paid to the State Government will not be refunded by the Central Government.
Reply From:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT PRACTITIONER AND INDUSTRIAL CONSULTANT
H-63, Palaami Enclave, New Natham Road,
Madurai-625014.
Website: www.abhivirthi.blogspot.com
Cell: 9994990599
| Is This Answer Correct ? | 2 Yes | 0 No |
what are the rates of depreciation as per companies.Act.?
i have recently joined a bank as probationary officer.i ant to know hich of the two options bellow will be benefitial:- 1.receiving HRA or 2.receiving lease rent from the bank.
How to calculate TDS interest for the financial year 2010-11
Under DVAT ABC is a "company" which has taken contract from Delhi state govt department and subcontracted part of work to XYZ. Where ABC is under composition scheme and XYZ is under normal scheme. Govt deducts 3% WCT from payment to ABC towards vat.Whether subcontractor is liable to pay WCT vat on his turnover though the main contractor has already discharged tax liability on entire turnover? What is the mechanism ?
Provision for Service tax, Income tax and Sales tax
Give some examples under sec. 80C? What is the maximum limit ?
What is the present TDS structure in india for the current year.Is there any changes
we are the manufacture of leather shoes, we send the shoe sample to some parties , can it we shown in RG1 Register , if shown then , where ? if not then why ?
what is latest rate of vat cst service tax. what is contractor tds rate.
how will one calculate TDS when the bill is with service tax (SAY an AMC bill ) and what treatment will be there when it is a rent bill with service tax. is there any rules in income tax as to deduct double taxation?? pls help with rules sir
We are purchaseing one machine on duty of payment ( Capital Goods) in the staring of the month financial year 2009-10 at the time of purchase of machine we are not registered with the excise department. But my company registred with the excise department end of the same financial year What can we are taken cenvat credit on capital goods in the year 100% of 50% pls. given the comments or explain me all excise exparts.
I am trader & my office in Delhi & I have any Material purchase from Puna & I want directly dispatch material from Puna to Ludhina which my customer. So what can I do this transaction ? & what will the tax pay.
Audit 
