dear sir/madam

we have given a advertisement for wanted accountanats & engineers - is applicable FBT?


with regards
balu

What is Logic Behind TDS ?

Why TDS on Service tax And Why not on VAT

Amount deposited in a Fixed deposit for 5 year or more is deductible under section 80C.
But if the FD is the assesse’s name and payment is being made by another person suppose his spouse or parent, whether this amount would be deductible or not under section 80C.

(2). If FD is in continuance from A/Y 2006-07 for 5 year or more and now we want to renew that FD with more amount whether it would be deductible or not.

Regds/-
Anil Jain

Mr.Bimal

Thanks for suggestion but there is a confussion Challan 280 to fill up the challan this is for
Self assessment Tax (300)
Tax on Regular Assessment (400)

Sec 24(b):In case of co-owners, each co-owner is eligible to claim a dedcution of interest on housing loan to the extent of Rs. 150,000/- in case of self occupied property.

Do share any supporting case law for the above.

Also, do clarify whether restriction of interest to Rs. 150,000/- is inclusive of pre-construction interest also.

dear sirs,
pls illustrate the most advantages way of doing share business by NRI's- what I mean is to pay minimum tax - suppose the NRI is settled in the Gulf and interested in investment in Indian shares -

I have received an order from Asst. Comm.of Income Tax, Delhi for Rs.500 in which challan should i submit the same.
for the Financial year 2005-2006.

A was having a flat of 500 sq. ft. for last 10 years. The building was revedeveloped and he took extra 100 sq. Ft. by paying some consideration to builder. Now he sold that flat after one year of redevelopment.

In this case how the capital gain will be calculated? how to treat the extra 100 sq. ft. purchased? whether to treat it as new house purchase or else will be treated as cost of imrpovement?

Sir,
In one of the cases the A.O. has disallowed the depreciation on a motor cycle on the ground that the Motor Cycle was procured on 31/3 and was not registered in the name of assessee. He has also proposed penalty u/s 271(1)(c) on the addition so made. Is he justified in doing so? I have read somewhere that in such a case the penalty should not be imposed. Please provide me the details of any related case or the provisions.
This is urgent.

Thanks in advance.
Mahesh

Suppose a person is paid Rs.60,000 on a day for a contract. All conditions for TDS deduction u/s 194C are met but TDS was not deducted.

1) If next day, an entry is passed debiting the party and crediting the TDS payable account with the TDS amount - will it amount to tax deduction at source, eventhough the amount is not really deducted from the total amount payable?


2)If the answer to the above is YES, will it amount to late deduction of tax ?

3)If it amounts to late deduction of tax, what are the consequences?


Kindly answer the questions for each case separately and quote section/rule/sources if possible.


Thanks.