A partnership firm (formed in F. Y. 2000 – 01) had capped the remuneration to partners at Rs. 60,000/- per partner per annum, vide the original partnership deed.

In January 2006, vide an addendum to the partnership deed, the firm increased the limit to Rs. 1,50,000/- per partner per annum.

A clause was inserted in the addendum to state that the aforesaid changes in the remuneration would be effective from 1st April 2006.

a) For the purpose of computing remuneration allowable u/s 40(b) of the I. T. Act, which limit would be considered?

b) If the copy of the addendum was not attached with the ROI, will the changes in remuneration be considered valid for the purpose of section 184 and / or section 40(b) of the I. T. Act?

Thanks & Reagrds
Niki

whether deduction of Fees paid for GMCS can be claimed under chapter VI A of Income Tax Act, 1961.

can any1 tell me wht to be considerd while doing purchase& sale vouching of manufacturing co.

I have taken 2 housing loan both jointly with my 2 brothers.one for purchase of house and one for rennovation of the same house. total amount of loan is Rs. 35 lacs. repayment of principal during the last financial year is 20406/- and intt. amount is 413118/-. 1st name in the loan agreement is of my brother. I want to know the deduction which i can avail during the file of I.Tax Return.

If the date of incorporation of HUF is applied as ANCESTRAL then what date should be put while e-filing? Is there any default date?

If the date of incorporation of HUF is applied as ANCESTRAL then what date should be put while e-filing?

Whether service tax is applicable on Charge collect fees which is a particular percentage of freight, collected for collecting freight at destination port.




Thanks & Regards
Vandana

We have filed eTDS return with wrong PAN of one contractor & one employee by mistake.

Now what is the remedy available?

Should we file revised eTDS Return stating the correct PAN?

Or we should issue a certificate to the employee addressed to Income Tax Officer stating that we have by mistake filed eTDS return with wrong PAN & please consider the new PAN?

I am working as a consultant for a foreign based company. They have project in india and m working on that. I m providing my services through net (preparation of documents & review). I will submit my invoice to get payment. under what heads can i put my expense and is it necessary to have bills for them? like hiring a typist or local conveyance? which form to be used for income tax. my agreement is of 6 mths. previously i was working as a permanent employee in india. pls guide

How can i answer the queary asked by any one in the ca club india ??????????