We are a Bank. We have to pay a add agency which has given a Summon Notice in Newspaper for Recovery of a Debt on our behalf & now we have recived a bill for the same together with the paper cutting of the summon notice.

Should we deduct TDS under 194C or 194J for this payment to add agency.

Please update me on the following issue.
I had a Long term capital gain (on transfer of Residential house) during F.Yr 2008-09, However since i bought a new residential house during 2008-09 at a cost which is more than my Capital gain during 08-09 i need not pay any tax on CG. Now If i sell another residential house during F.yr 2009-10 & if that results in Long term capital gain, can i claim the difference amount (F.yr 08-09 Cost of new asset - Capital Gain exempt)as exemption u/s 54 during F.Yr 2009-10. (Since section stipulate the date 1 year backward & 2 year forward. Kindly update me.

Regards,

Hemanth Kumar.

Dear Friends,

how is the taxation of Real Estate business(purchase & selling of plots) of a firm Computed?

whether benifit of capital gains applicable or not?

whether it is considered as a business? and the profit arrived after deducting all expenses is taxed?

please urgently help me fellas..

thanx in anticipation.

Wether an assesse already having an House Property can claim exemption in respect of LTCG by investing again in the same house property or by purchasing one more residential house.

I want to know the benefits received in Tax paying in U.S will they be received in Tax paying in INDIA under Double Taxation Avoidance Agreement or not pls reply as soon as possible

I am an Indian Citizen and presently working as MIS Expert(Consultant) in Asian Development Bank. I am posted in India. I want to know whether my salary is exempted from income tax or not. If yes than under which section and Act.

I have a house property, & during the P.Y. I have a LTCG on sales of shares without paying STT i.e. outside stock exchange.Now wether I can avail exemption u/s 54 F by investing the consideration in reconstruction in my existing house or acquiring a new house property.

Wether there is any way other then investing in bonds so that I can avoid tax on sale of shares.

Can anybody mail me copy of SriRenukeswara Rice Mills Vs.ITO (2005)

my mail id is mataniman@yahoo.com.

Regds.

A.O. issued notice u/s. 142(1) on dt. 15/6/2009 to submit IT return for the A.Y. 2006-07. Also requested to submit copy of returns & Form No. 16 from A.Y. 1996-97 to 2008-09. Is it a valid notice. Is it binding for the Assessee to submit the required documents. Plz keep the querry open.

In case of co operative bank if the person is shareholder of the bank then no TDS is deductible on the Fixed Deposits.
However, whether same principal will be applicable if the person is Nominal Shareholder.