Will appreaciate if any of the Experts can educate me on the Whether TDs needs to be deducted on Freight paid to Korean(flag) shipping Company for loading of cargo done in India.
If TDS is to be deducted then at what rate ?

Are the Expenses on maintenance of Guest House liable to FBT for the AY 2009-10?

Dear Sir,

i am salaried person and my total salary for f.y. 08-09 is 193000/- (including march salary) and my investments are for rs. 33156/-. and i have given my first floor on rent for rs. 10000/- per month and i want to ask that total rent received is taxable for me or not. i have not paid any munncipal tax/house tax in this year due to non applicability the same and its my own house.

Sir,

Our Company is a Sole Proprietor firm. We are rendering services for Bunker Fuel oil Barge owners at Chennai and Ennore Ports. Our work relates to various services rendered in connection with supply of Bunker fuel oils through Tank Barges to various ships coming to Chennai/ Ennore Ports. We have been charging our service charges as Agency Fees. Our Principals were making TDS under Sec 194C of IT Act.Though we are rendering the same service oriented work, since last month we are being charged at 11.33% which is applicable for professional work under section 194J. In this connection we found from your Expert reply dated 23rd Dec,2007 & 25th Dec2007 that even Agency Fees or any work done in shipping / handling attracts only Sec 194 C & hence TDS is only 2.265%. We request you to kindly give us your Expert advice in this matter.
Thanking you for your advice and with best Regards
Jude Vallabadas

Hi,

This is Gireesh Hegde.I have a query regarding IT Computation of Employees.Due to Recession effect one of our client not paid their employees salary for the last three months and the company agree with employees for paying their salary for these months (Dec, Jan, Feb and Mar) sometimes in the month of April May 2009.Now my question is while calculating Income tax (TDS) can I treat this as employees income for this year and deduct the TDS for this year? Or employees are personally liable to pay these taxes?

Please revert back with your answers and help me to solve this issue.

Thanks.

Gireesh Hegde
E – Mail : gireeshheg@gmail.com

i have given cash loans to my supplier totalling rs.300,000 .in instalments of 30,000 ; 100,000 ;100,000; 70,000.
later on from same supplier i purchased one machinery item costing 3.5 lakhs .
can i adjust cash loans against purchase from same party ?

Dear Friends,

our company has paid Rent Directly to Landlord on behalf of Employee of Rs 1.88 Lacs.
What will be the implications:-
1. Should we include full rent paid in the salary in the employee & deduct tds on the same from the salary u/s 192? any exemption to be given to employee?
2. Should we deduct tax from the amt given to Landlord u/s 194I?

Whether TDS is applicable on Medcine purchase by Distt Health Socitey for free distribution in Govt Hospital u/s 194C.

whether Tds is applicable on inuaguration expenses for new office

I wish to transfer a lump sum amount received by virtue of my PF and gratuity on my retirement to my wife. So I wish to know, is the amount transferred from my pf and gratuity to my wife on retirement taxable? If so under which provision? Is it true that the PF and gratuity is not taxable in my hands on retirement? Is it wise to distribute the amount received during retirement among the spouse and son for tax exemptions?