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

Eg: Mr X sold a residential flat on march 2008 for 10 lacs. out of the sale proceeds rs 2lacs was used to pay loan of another residential property purchased on November 2006. whether he can claim benefit under section 54 of the income tax act for Rs 2 lacs paid??

IF CUSTOMER PAYS ADVERTISEMENT EXP ON BEHALF OF US THEN WHAT SHOULD BE THE TDS TREATMENT FOR THAT ADVERTISEMENT EXP IN OUR BOOKS?

the assesee sold factory land and building of a proprietary concern which was closed since last five years. cost of land and bldg is seperately shown in books. whether sale of land would be taxable as long term gain with indexation and bldg taxable as short term gain at deemed WDV u/s 50C(as unit closed for 5 years)

Dear Sir / Madam,
Pl analyse the following interesting real case study and revert back with your precious opinion as soon as possible.

A co absorb "C division" of B co on Oct,08. Uptill Oct,08 B co deduct and paid TDS on Salary for all the employees of C division and from Nov,08 to March,09 A co does Deduction and payment of tds on salary.
Now the issue is B co has short deducted and short paid the tds on salary for employees of C division and that shortfall now need to be paid by A co but there is a change in the tds provisions with effect from 1st April,2009 vis notificaiton no 858(E) dated 25th March,09.

Questions are:
1.What A co is legally bound to do?
2.Whether shortfall of tds on salary can be paid by A co in June,09 as they aquired whole C division of B co,If not, when and how can the payment is made?
3.If so, what is way to make such payment and which legal provision will rule that ?
4.Does there is any Interest which need to be paid by A co?
5.Your comments and suggestions to this case which is really happend with the co?

AN INDIAN CO PAID COMMISSION IN FOREIGN CURRENCY TO A FOREIGN CO,FOR HELPING IN SECURING ORDERS FOR SALE OF GOODS OUTSIDE INDIA, WHETHER TDS TO BE DEDUCTED ON SUCH PAYMENT.

Hi frnds,
As it is known that tax liability of charitable institutions is calculated same as to individual but my question is can charitable institutions avail the basic exemption limits as availed by individuals?