In case of cash basis of Accounting. When TDS is deducted at year end, is it sufficient to consider the amount of TDS as income for that year and the remaining amount the next year OR should we take the actual income and then claim the TDS.

Dear Sir/ Madam,

One query relating to the wrong PAN no. alloted to us in 1996.

Actually we are Partnership firm and we were alloted Company PAN no. (12 years before). Till now we filed all Income Tax Returns under the given company PAN no. This year we came to know we being Partnership firm, we were wrongly filing Income Tax returns by quoting Company PAN(with forth alpha "C")

Can u plz tell me what can be done to rectify the mistake and convert given company PAN into firm PAN no.?

I Want To Just Opine On Answer Given By CA Ramesh Ahuja To The Question Of 80-c Deduction For Investment In RD.
As Far As Mumbai is concerned The Income Tax Department Does Not Allow The Deduction and in My Opinion Even there is no specific Provision in the law For Deduction of the same.

can unabsorbed Dep. setoff against Presumptive incomeu/s 44AD,44AE,44Af.

Dear sir,

We have placed a purchase order of UPS to a vendor in which the conditions are :

1.Excise Duty @ 16.48% & VAT @ 4%
2.Payment : 30% against PO , 60% against Delivery & 10% against installation.

My question is whether the TDS should be deducted on the same or not ?

Kindly help asap .

And supporting circular would be of great help.

Thank's in advance.....

Whether Postal RD eligible for 80C Deduction.

Let me know, what is the penalty for delay in filing the e-tds returns.

A leather processing unit has received a processing cooly bills as a Contract. The total value of bill amount has splited to chemical cost and labour cost. What amount is to taken for TDS deduction either labour cost only or both?

pls guide me.

We purchased truck on 1.4.2006. As per company Act 1956 depreciation rate is 30% P.A. But We want to know Howmuch Current depreciation rates of truck (running for own business not for hire) for a company as per Income Tax 1961 i.e 30% or 15%.

is conveyance paid to c.a. articles liable for FBT