Is it possible to pay tax of partnership firm by anyone of its partner personal a/c if he have online a/c with bank.

e.g. if ABC Co. Ltd. is the partner in other firm in XYZ then if XYZ doesnt have any online payment a/c & ABC Co. Ltd. have its online payment a/c then if the liabilities of XYZ paid throgh ABC Co Ltd. is it ok?

Is investment in SIP deductible fron income. Whats the treatment for investment and income arising from it?

Y Ltd recieved a TDS certificate in FY 2008-09 for its income accounted in FY 2006-07. Client of Y Ltd had not deducted TDS U/s 194J on payments made to Y Ltd in 2006-07; Client remitted TDS in 2008-09 and gave TDS certificate to Y Ltd.

Can Y Ltd claim credit for this TDS certificate while computing its tax laibility in FY 2008-09 ?

Hi,

we did not deduct any TDS for the financial year 2007-2008 on salaries.

can we deduct and pay TDS now?
if we pay now can we issue TDS certificates for employees for file the Returns
if we issue TDS certificate we have to mention today date as payment date, will there be anyproblem while filing the return for emplooyes?

please advise

regards,
praveen

redemption of preference shares at premium and the company has reserves
Will the same come under the ambit of dividend u/s 2(22)
If yes would it be liable to dividend distribution tax

Is there any rule or guidline which says that if actual cost of an asset is less than Rs 5000 than it shud be charged to P & L Account instead of capitalising it.

Pls keep in mind the guidlines of Shedule 14

Sir
My client bought a plot for Rs 175000 in 1982-83, he latter made a deal with a party for the sale of the said property for he which he received a sum of Rs.250000 as advance in 2001-02. But the sale couldn't be completed so my client forfeited the same and kept it with him. Now he sold the property for RS.45 lakhs in AY 2008-09. How can I adjust the advance amount with the purchase cost he has incurred an improvement cost of Rs.125000 in the year 1999-2000. How can I compute the CG in this case favoring my client

A person is receiving commission being
1. Small Saving Agent (NSC, KVP etc.)
2. Post Office RD Agent
3. PPF Agent

He does this all in part time.

He is a full time a salaried employee.

Above mentioned incomes to be taxed in which head:
1. Profits & Gains of Business or Profession
or
2. Income from other sources.

Whether hiring of car(Tata Sumo)/bus will atribute Sec-194C or Sec-194I(Rent on Plant & Machinery)in case of
1.hiring on monthly basis?
2.hiring on daily basis?

X Ltd had paid professional fee to a Y Ltd (HR Outsourcing company) Rs 84 lacks in financial year 2006-07. TDS was not deducted U/s 194J when these payments were made.

Due to the above the expense of Rs 84 laks will be disallowed in the books of X Ltd U/s 40(a).

X Ltd is planning to pay TDS on Rs 84 lacks in the financial year 2008-09. Will the expense be allowed as deduction for the financial year 2008-09 ?

Assuming X Ltd pay TDS on Rs 84 lacks and issues TDS certificate to Y Ltd; Can Y Ltd claim credit for TDS paid on its behalf in financial year 2008-09 ? (Pls note Y Ltd has paid Income tax on its income in financial year 2006-07 ).