We purchased material from Mr X, as per purchase order commited that reimburse the transportation charges by production of LR/RR/Transport copy. The problem here is the reimbursement claimer is not a transporter, he diducted TDS from transporter as per IT norms, here the problem is shell we diduct TDS on payment made by me to supplier. URGENT

Regds

B.V.K.Nageswara Rao
Ph: 099891 57666
Email: nageswararao.bommakanti@ril.com

Company has purchased 50 mobiles phones each costing around 2000/-.In this case I would like to know should they capitalize or treat as revenue expenditure.

Shri balaji multipurpose co.operative society has the following income 4 the year ending on 31 mar 07
1.rent received from H.P let out 4 residential purpose 20000
2.annual rental value of the house used by the society in its own business 10000
3.income from cr. Facilities to its members 40000
4.income from collective disposal of labour 20000
5.income from an industry located in back ward dist. Of category A commencing production since feb 03 90000.
P$L a\c of this industry has been dr. With the following exp.relating to the let out H.P (a) repair rs. 2500 (b)municipal tax rs. 2000 (c)fire insurance prem.rs.1200 (d)rent collection charges rs.500.
6.dividend: a.from an indian com.rs.8000 (b)received from another co operative society rs.6000
7.interest: (a)on fixed diposite with a co operative bank rs.4000(b) on listed debenture of a com.(gross)rs.4500
8.taxable income from letting godown for storing commmodities rs.10000.
The society donated rs.15000 to the central govt.for promoting family planning.
Compute total income n tax lia.of the society 4 the ass.yr.07-08.

If TDS is deducted in 1 yr bt not deposited till audit report, how is interest for the period between balance sheet date and audit report date treated in books of A/cs?

Dear Sir,
Please tell me when a person is libale to deduct TDS with its limit for payment of different exps.

Dear Sir,

Sec- 194 -4 " TDS on interest other than Interet on Security" states that tax to be deducted while paying interest to resident. In such a case any interest (other than interst on security ) payable to NOn- resident is exempt from the ambit of TDS ?

Dear Sir,

I'm posted as HELP DESK EXECUTIVE at Infosys Campus for two days for clarify the tax filing and tax related queries. So far I'm strong in corporate area than Individual tax filing. I'm aware about individual tax filing in working level.

Could you please advice me how to perform well for those two days?

for ROC i had paid a amount to my CA & he raised bills for that in this situation i have to deduct TDS or not.
Bill for Professional fees for stamping printing of MOA & others.

if i m late to pay my TDS and now i want to pay then how i calculate my interest amount. what is the interest rate.

suppose last date of payment is 7th of next month and payment made on 12th of same month and payable is Rs.5000 then the interest paid on that is Rs.416.67 (roundoff 417)
i am right

Suppose i have 2 building under income tax block (ignore depreciation) whose details are as follows :-

closg bal as 31/03/2007 - RS100/-

Revaluation made on 31/03/2007 Rs- 50/-

one building sold on 10/04/2008 -RS.50/-


What will be my closg bal as on 31/03/2007 , 31/03/2008 and 31/03/2009 under income tax act?

Will i have to pay capital gain tax on sale of building in above case?

Whether the revaluation amount is to be considered while calculating capital gain?