Can we take deduction of "withdrawl of revaluation reserve" from book profit to calculate tax as per MAT.I have heard that it is applicable from AY 2007-2008.IS it true? Please give me detail information on the above topic.

Can we show reimbursements like Conveyance expense, food expense etc as aprt of salary break up in offer letter and pay slip ??? Since normally in industry it is shown seperately as Flexible pay or under Entitlements head. And monthly the amount is shown on seperate reimbursement slip insetad of on pay slip. Please clarify the issue. Thanks in advance for your time.

Can co operative bank create reserve for NPA and reserve for over due interest against its net profit
Is it an allowable expenditure for calculation of Taxable income

Which is form is used for Group housing society

Whether TDS would be deducted in payment of Hotel bill(Room rent) exceeding 20,000.00.

Whether TDS to be deducted on interest on loan payments made to minors??

A EXITING P LTD CO MAKE A SUBSI P LTD AND GIVES THE LOAN TO SUB ON INTEREST THE SUBSI CO BUYS A PLOT AND LATTER SOLD . HOW THE INTT IN THE HANDS OF HOLDING CO BE TREATED AS REVENUE OR CAPITAL. if the holding co also borrow from banks on interest whether the interest paid to the bank by holding co is to be capitalised since the loan is transfered to the subsidiary co. the subsidiary co purchased plot from this amt. or to be trated as revenue since the holding co is also receiving the intt from the subsi. Any precautions in respect to ITAX & Cos Act And discloser requirements

Dear sir

As per the query earlier answered the supply of lunch and tea is chargeable to TDS.
Does it means that sale of food of which billing is done on monthely basis is subject to TDS.How such purchase of food is different from purchase of stationary and raw material.

Ramanand
ICWA

is there any provsion under 194C where the deductee
can get the certificate of lower deduction? as far
as i know that in contract cases lower or no
deduction certificate is only valid ofor sub-contract?
one of my client is saying that his transporter ios
saying that he has got the cerificate of lower
deduction?
is there any rememdy if the contractor refuses to be
get his tds deducted?
what if contractee pays tds on by his own self?
in such case will he have to issue tds certificate
for full amount?n the deductee will get benefit of
whole amount?

thanx
C.A. Arun Shah

Dear all,
Could u pls. give me details regarding procedures to be followed for being approved U/S 35AC of Income Tax Act.
regards
ca sanjay chaudhary