A company paying rent and hiring of vehicle charges to the same contractor. On hiring of vehicle TDS is deducted u/s 194C. On rental payment since the payment in a financial year is below Rs 180000 so no TDS is deducted. Is this practice in compliance with Income Tax Act.Or both rental income & hiring of vehicle income of the contractor be clubbed & TDS on rent be deducted from the contractor. For e.g. ABC Ltd hired an office premises & Vehicle from Mr X . For office ABC Ltd pays Rs 12,500 pm and for vehicle Rs 15000 pm + reimbursement of fuel charges to Mr X. ABC Ltd deducts TDS from Mr X's Hiring of vehicle bill u/s 194C but since the annual rental income of Mr X as paid by ABC Ltd is less than Rs 180000/- no TDS is deducted by ABC Ltd from Mr X rental bill. In this context is the payment made by ABC Ltd liable for TDS u/s 194I by clubbing both rental & hiring of vehicle incomes of Mr X by ABC Ltd.

Main Objects of a Company providing professional, consultancy, advisory & technical Services

i do not paid my lic premium for last 2 year,,... but now i have paid total preimum along with late fee..

will i get exemption on total premium paid this year...

Also advise how much % i can take for AY 2012-13

Respected Sir
Im Supratim Ghosh from kolkata. I want to know the journal entry when received cheque from party and what is the journal entry when this cheque deposit into bank and what is the journal entry when the cheque bounced.
Pl help me as soon as possible
Regards Supratim Ghosh.
All the entry in tally

i GAVE MY ipcc EXAMS IN MAY ND NOW I WANT TO DO CS EXECUTIVE WITH CA SO DO I NEED TO TAKE PERMISSION IN form 112 BEFORE REGISTERING IN CS or after registering?

Hypothetical Situation
Balance sheet as on ....
Equity & Liabilities Rs Assets Rs
Share capital
60005%Cum.Pref.shares 6,00,000
of Rs 100each fully paid
xxxxxxx xxxxxx
In the above context
Q1)Do we have to pay Preference Dividend?
Q2)What Additional information is required in problem which will make us sure that we have to pay Arrears of preference Dividend?

Please guide me for above two questions.

We r going to purchase a trailor for our logistics co. for new contract obtained with new customer. But customer wants the trailor in their name instead of our name.

If we finance that trailor , how can we account for the smae in our books of accounts?

Kindly revert.

26.05.2009 (PVT LTD) our company computers purchased on credit 52120/-

10.06.2009 our company computers purchased on credit 35500/-

07.07.2009 our company computers purchased on credit 5375/-

05.08.2009 our company computers purchased on cash 26520/-

04.12.2009 our company computers purchased on cash 40400/- but they dep calculated 17539/-

passed jv

accumulate depreciation on computers a/c Dr 17539/-
To Depreciation a/c 17539/-

what is the calculation

Hi can one help to out of this?
I am not able to login through internet explorer at MCA portal because it does not ask for Digital certificate at login and submit button also not working. Please help me. Its urgant

Thanks in advance

assessee has income of pension below 5.00 lacs and has some intt. income above rs. 10000/- .
now assess has expired in may -2013
income tax return filing is coumplosury or not for F Y 2012-13 & 2013-14 ?

if yes how fill return for F Y 2012-13 & 20013-14 ?