Dear sir,
A company pays Membership & Subscription to clubs and hotels for its Directors. The same is claimed as Revenue Expenditure.

Is TDS applicable & if applicable under which provision?

Please Reply.

An Indian company, under collaboration agreement, makes payment of royalty to its collaborator, a foreign company at Japan. While deducting tds u/s 195, it deducted excess tds at 20% while the rate has been scaled down to 10% wef 01.04.07 under the DTAA. Queries in this regard are:
1) whether it can ajust the excess deduction of tds in its subsequent deduction of tds in the same year?
2) The Japan company is not filing return in India. In case, the Indian company files return for the Japan company as an agent of non resident (to get refund of the excess deduction),(a) whether new PAN has to be got for the non resident or can the Indian company file the return as an agent in its own PAN? (b) if new PAN is required, whether Form 49A has to be signed by the non resident or can it be signed and applied by the Indian company as agent (c)whether separate power of attorney will be required to file return on behalf of the non resident

can anybody explain abt protective assessment

hi,
a herbal product company has given diwali gift to doctors (gift in kind, not medicines)
the expense has been treated as sales promotion expense

plz tell me,
can it be taken under sales promotion as per FBT?
How is sales promotion and gift differentiated?
or
will the expense fall under Festival celebration expense?

If i am invested my own fund in daily dividend income fund, then dividend earned is exempt or not? What about gain or loss from such investment

one of educational trust are not filing return from the f.y. 01-02. and they had taken Pancard in this year. They wanted to file I.T. Retrun. From which F.Y. they can file return? what is the procedure for filing the return ? pls guide in brief as from which year i can file return and which return form fill, specify the income tax return form s?

Our banker selected an professional association to valuate our property for granting Loan to us. Bill of Valuation is given to our company.
We have deducted and deposited TDS at the time of booking the Expenses. But demand is not raised by party. Whether we should reverse the Exp. or wait & look for Time-Barred-debts.
By how much amount we should book the Exp. while in earlier loan taken by same bank no bill raised in this respect.
We are suspecting, bill may be fraudy or raised to our bank as well as to our co. simultaneously.
Plz. help me out . Thanks in Advance

a person living in Indore. In Accounting Year 2007-2008 total Salary is Rs. 253000/- (Only Salary). he is not getting house rent allowance from his co.
He is paying Rs. 2700/- per month for House Rent. Total Rent in Accounting Year Rs. 32400/-. I want to know that what will the figure of H.R.A. for Deduction in Income Tax. & how to calculate it. , please help.....

Hi friends,

can you explain the average rate of tax calculation in case of salaries along with a illustration showing month wise deduction.Usually companies will deduct tax by dividing total tax with no. of months.i want to know where we will get difference.
Definitely later will result in some lower deduction if any incentive is paid during the year(particular month)
Pls explain me.

espected members

please give me slab rate of PF and PT.

also provide to me regarding what things include in term "SALARY".

regards
sm makwana