hi,
my query is this. Suppose a person has filed his returns for AY 2008-09.. till what period can the dept make enquries(if reqd)??

A individual who is a salaried employee opens joint SB A/c with his wife who has no income of her own. His wife's name appears as the first A/c holder. Both of them individually can operate the account.

The question is - should interest earned on such deposit be taxed in the hands of husband?

If yes, kindly provide me with Income Tax section reference.

Thanks.

WHETHER IT IS MANDETORY TO GIVE THE INFORMATION IN THE TDS RETURN REGARDING THE PAYMENT MADE TO PERSONS WHO HAD ALREADY FILED THE 15G FORM WITH THE IT DEPTT.

Respected All,
One of my client doing business of work contract of Hospital pipe line. but the hospital could not deducted TDS on that & we are charges 4% vat on contract amount. Is it right procedure or anything wrong in it? anything problem will create in future due to not deduction of TDS on contract.
Awaiting your valuable guidence.

As per this section it is given that company in which public is not substantially interested so it means it is pvt. co. If director withdraw some amt for purpose of business & in account of that company director a/c balance is in Loans & Advances then whether Director / shareholder chargeable to tax? whether company liable to deduct TDS as per section 194 ??

1) IN PDF FORMAT OF ITR-2 OF INCOMETAXINDIA.GOV.IN SITE, SCH-CG, ROW B5 MENTION THAT IN TIME OF ADDING ENTER NIL IF NEGATIVE BUT IN EXCEL FORMAT IT AUTOMATIC TAKES (-)VALUE.
WHICH ONE IS CORRECT ?

2) IN EXCEL FORMAT FORM AVAIABLE ON THE SAME SITE TOTAL OF SCH-S & SCH-HP TOTAL FIGURE NOT TAKEN, THAT IS WHY FIGURE NOT TAKEN IN SCH-CYLA.
HAVE YOU ANY RIGHT FORMAT. PLS. ADVICE.

S.K.AGARWAL

anybody suggest me how to deposit my tds through online banking pls immeditely ans

anybody suggest me how to deposit my tds through online banking pls immeditely ans

There is a service provider 'T' which provides services to 'X' for which there is a contract between 'X' & 'T'. 10% of the total service charges are paid by 'Y' to 'T' on behalf of 'X'. 'Y' an independent party to 'X'. 'Y' deducts TDS on the same and deposit to govt. Rest of the 90% is paid by 'X' and TDS deducted accordingly. Later 'X' reimburses 'Y' the gross amount paid by 'Y'. Question is whether this re-imbursement by 'X' to 'Y' would again be liable to TDS. In my opinion as the required amt is deposited with the govt. and there is merely a re-imbursement of actual cost and so TDS is not required. Could you plz substantiate your answer with some decided case laws/circulars.

There is a service provider 'T' which provides services to 'X' for which there is a contract between 'X' & 'T'. 10% of the total service charges are paid by 'Y' to 'T' on behalf of 'X'. 'Y' an independent party to 'X'. 'Y' deducts TDS on the same and deposit to govt. Rest of the 90% is paid by 'X' and TDS deducted accordingly. Later 'X' reimburses 'Y' the gross amount paid by 'Y'. Question is whether this re-imbursement by 'X' to 'Y' would again be liable to TDS. In my opinion as the required amt is deposited with the govt. and there is merely a re-imbursement of actual cost and so TDS is not required. Could you plz substantiate your answer with some decided case laws/circulars.