Q. What amendments made in the treatment of anonymous donation received by religious trust u/s 115 BBC ?

A partnership firm having son and mother as partner has shop purchased in 1987 in name of firm.It is given for rent for 6 lac+ Deposit of 3 lacs earning interest of 9% in bank.The firm has no business income.Suggest tax planning for firm or it will have to pay 30.03% firm tax on income from house property and interest income from other sources. Any deductions that can be claimed over and above standard deduction of 30% + municipal taxes.
Suggest.What if shop is in partnership name in society records and thereafter registered in 2008 as propritor of the firm with registrar by one of the partners.Can then the rental agreement be entered in individual capacity as proprietor.

Hi,

I am trading with forex for last 6 months, I want to understnd whether Forex is legal in India, and if yes how should i file income tax return for forex gain.

hi

can anyone tel me whether previous year expenses, not booked in accounts last year,be booked in current year and will they will be allowed as deduction under income tax act in current year?

Aslo i would like to know the treatment under companies act in current year.

Can we carry forward a business loss to subsequent years if we have positive income from other sources?

Eg Income (Business) -101000
Income (IFOS) 80000


Plz Reply As soon as possible as it is urgent???????

How to calculate tax liabiltiy and interest on pursual of Assessment order of A/Y 2005-06

AA LTD IS RUNNING A HOTEL IN INDIA AND HAVE A CONTRACT WITH AN AGENT IN USA TO BOOK THE ROOMS FOR THEIR CLIENTS IN INDIA.

FOR THE SAME THE USA AGENT WILL GET AN A 5% COMMISSION ON THE BILLING AMOUNT FROM THE HOTEL.

WHETHER THE TDS WILL APPLY? IF SO WHAT RATE?

Dear Sir,

I have received several openion regarding applicability of Section 195(6) on following transaction :

(a) Forex payment on purchase of Raw Materail

(2) Payment made on import of Plant & Machinery.

Pls help me, Is section 195(6) applicable on above transaction?

Is it mandatory to file Form 15CA & 15CB of above Transaction?

waiting for valuable expert advise.

Regards,

Baljinder Singh

a group housing society makes FDRS of its surplus with bank and earns interest . the bank deducts TDS. HOWEVER society distributes entire interest among members AFTER deuctting TDS on it.therefore net interest income of society is NIL. However it claims refund of TDS deducted by bank from I.TAX authorities. My queries are
1. Since society divides entire interest among member .is interest exempt in society hands
2 net interest (intt earned - intt. given to member )is nil, will the society get refund of TDS deducted by bank
REFERENCE to some case laws shall be highly appreciated