Is TDS applicable for payments to Air Ticket Booking Agencies?
Ifyes, TDS to be deducted as per sec194C?

Hi All,

Thank you for the details provided.

Madhur

Dear Experts, (our registered office in Delhi)

We have Traders in Flooring Tiles and also provide the Interiors & Decorators Service in the Delhi & outside Delhi. We have received the various input service from Delhi & outside Delhi like clearing & forwaring shipping agents, chartered accountant, telephone, courier service, Transporter (GTA) etc. and paid the service tax thereon. Please give me, advise regarding the credit taken on input service to output service (interiors & decorators)

A prop. ship firm is availing deducxtion u/s 80-IB from the last 4 years. Now the prop. and his wife want to have a PVT Ltd. company, which will take over the entire business of prop. firm.

Will the company be eligible for the deduction u/s 80 IB, which the prop. was availing for that business.

" U/s 194C No TDS is to be deducted where the Single payment or credit does not exceed Rs. 20000/- ans collectived the whole contract amount does not exceed Rs. 50000/- during he whole year. "

A party has taken embroidery job bills during the year with amount below Rs. 20000/- in each bill in the month of January 2008 and total of all the bills during the year does not exceeds Rs. 50000/-. Hence No TDS is deducted. but the party has made single payment of Rs. 47804/- in the month of February 2008 to embroidery job creditor.

Will this be a case of non compliance of TDS Provision.

The following is the transaction details:

a) My father purchased land in 1975 for Rs.30000/- in joint names with my mother (i.e wife & husband)with his self earned money.
b)In 1990 he built a house of 3000 sft on the land he purchased in 1975both names( wife and Husband)
c)My father deceased now has left a will which states that the 50% share belonging to my mother stays as it is and the rest of 50% devolves in the name on son and daughter in law (25% each.)

My query is that I know the cost of land (COA)for the registered sale deed but I do not know the cost of construction for the house he constructed in 1990. There is no documentary proof bills for construction and imoprovement costs (COI)thereafter.I only have the property tax receipts. How to compute LTCGT assuming i am selling the property in the assesement year 2008-2009 and how to arrive at COI is there a benchmark given or how do i value the construction cost in 1990 and improvement thereafter.Please guide me and inform which websites or information I can get myself. Or please cite example or case study. Please not my e-mail id: mehulbpatel@hotmail.com

Hi
My company is a manufecturing co. and we have railway siding for within the factory for transportation raw material as well as finished goods.For that purpose co. owns a Diesel Loco for moving railways rake within the factory compound. For repair of that loco we procured some stores items fron inter state sale. Can we issue "C" form to party. Although we are registered dealer but that loco is not directlty linked with manufecturing activity. Pl guide

Regards

21/8/2008 Purchase of Goods 51000/-

22/8 Cash Payment 32000/-

24/8 Cash Payment 19000/-


Whether 32000 will Be Disallowed or 51000/- ?

Plz Answer With Relevant Provisions Of Income Tax Act.

Hi,

I was working with a company in India for 2 yrs 7 months. This was my first ever job. After this I moved to London,UK and joined a company here. Now I want to withdraw my PF from India. Will the pf I withdraw be taxed? If yes at what rate?

Thanks.

1.If any person,s gross salary is less than rs.10000 before inclusion of overtime but after including overtime it exceeds Rs. 10000 limit,Can be make ESI Deduction of 1.75%/4.75% in this case.

2.If it is not allowed by the law and we have deducted by mistake, then what are the penal provisions