shrikant
02 July 2014 at 16:55

Tds credit

State Bank of India has not deducted TDS on the interest on fixed deposit for the FY 2013.14. The reason given by the bank was 0% interest was wrongly charged on that deposit, hence no interest no TDS. Subsequently the said mistake was discovered at the time of prematured withdrawal in April 2014, the bank gave credit of the full interest but made TDS on the entire interest including interest for FY 2013.14 showing it as interest pertaining the period FY 14.15.

Can the depositor claim the TDS which is made in Apr 2014 as he follows accrual system of accounting and has to include the said interest income for AY 14.15.


Amit shah

Dear Sir,

My Client is a Works Contractor (WC) ( Furniture Contractor) carrying out Works Contract for Modular Kitchen and Wooden Doors ( Material plus Labour) in New construction project in Maharashtra.

Location of the client and execution of Works Contract - Maharashtra

RC Certificate - Shows Works Contractor as principal Nature

Query:
1. Now, He wanted to purchase Wooden Doors from a Supplier based in Gujarat by issuing a C Form. The Doors would be installed in the same Form at a Site located in Maharashtra
a) Can He purchase by issuing a C Form at concessional rate ? Any restriction on goods purchased for Works Contract
b) Can We get the Input of CST Paid on such purchases against Sales to Contractee
c) What would be the rate to be levied on Subsequent Work Contract Sales Bills to be issued by WC to Contractee customer ?

Please guide. Your early response in the matter would be highly appreciated

Thanks in advance



Anonymous
02 July 2014 at 16:43

Capital gain tax

if a person who has acquired a car by theft now sells the car will he be liable to pay capital gain tax..car is not in his name..he robbed the car..pls advice how we can save him from paying tax..sale proceeds have been deposited in his bank account..is there any other manner of receiving proceeds of sale so that capital gain tax liability does not arise..plz consider my query and do give a suggestion soon...


Dipti Agrawal
02 July 2014 at 16:41

Either cash credit or overdraft

For working capital requirement in textile business which one is better either to take cash credit facility or overdraft facility?


Poonam Lohiya
02 July 2014 at 16:34

Tds

If i deduct TDS on salary monthly without considering the invesment and in march month i come to know that i deducted higher TDS if employee inform me about investment.then what to do. Should i ask to employee to give details of investment at beginging of the year or i deduct TDS without considering the invesment.


praful
02 July 2014 at 16:34

Tds

For the Financial Year 2013-14 due to Fixed Deposit Interest, my additional tax liability comes to Rs. 26000/- whether i have to any interest amount along with self assessment tax (Total tax paid was 633806/-) ?



Anonymous
02 July 2014 at 16:33

Deduction under 80c

Whether dividend received on Mutual fund re-invested is eligible for deduction under section 80C ?


chetan
02 July 2014 at 16:29

Bank account

hello sir husband and wife both have joint a/c in which husband is first holder and his wife is second holder husband didnot show bank a/c in his balacesheet but his wife show a/c in it return and balance sheet for the f.y 2012-13 this accout mainly open for his wife income for stiching labour work income is it right or not ? is there any prob or not in future? all income is credited In cash is earn by his wife whether is it right or not??


Chetan Joshi


The assessee has filed Nil Service Tax Return for H1 of F Y 2013-14 eventhough it has provided taxable service but the liability to pay service tax for the period is Nil due availment to CENVAT Credit. My query is that whether Service Tax credit for the period shall be allowed or not if the assessee has filed Nil service tax return.


Thanks in Advance.



Anonymous

Dear Experts
We have booked excess provision of Income Tax by Rs 38 Lacs(approx.)in the Last year and we have adjusted that against Advance Tax of Current year by applying to the Deptt.
now what should be treatment to be given to the excess provision of Income Tax of Last year.
Whether the Provision with Excess Amount should be written back or any other treatment is to be given