My dear expert, Pleas help me,

One of our client doing Advertising Agency business in news paper advertisement only.

my doubt is whether Advertising Agency business is eligible business under sec.44AD.
He can file his income tax return under presumptive taxation route.

thanks

whether ST not collected from customer but paid to treasury is an allowable business expenditure.

whether reimbursement of sum incurred by agents would not be subject to TDS under section 194 H.

whether service recipient not liable to pay service tax under reverse charge if it was already discharged by service provider.

There is a rule that if exempt income exceeds rupees 5000, a salaried individual with interest income and income from one house property will have to use ITR-2 and cannot use ITR-1. What is covered under exempt income? Will HRA and transport allowance also be covered in the limit of 5000?

Hiiiiiiiii all,

I am a member of Mysore bank cooperative society from 1969-2011.When i was member i was allotted a site in 1970 with possession certificate.But i have registered the same in 1988 for a consideration of 4500/-.In 2012 i have constructed apartments on the same.And in 2013 i have sold my flat for a consideration of 30Lacks.

And for that construction purpose i incurred 20 Lacs.

As land was aquired before three years it is long term,and building constructed in 2012 it is short term.Am i right?

If it was right,how to separate land and building values?

Please clarify?

Dear Expert,


We will be making payments to a vendor who has taken on lease / rent few rakes of railway. We will be moving our stocks through such vendor and will be making payments to him (not a direct payment to railways).


Am I supposed to deduct TDS on freight payments to this vendor?


Thanks in advance

Ganesh

let us assume a person is earned per month salary 1,80,000.my question is how much TDS pay to the government by this person monthly

If i made payment against purchases of any property in few installments which will be pay in next say 4 years ,then whether inflation index applies for that year payment separately or on the basic purchase cost as per agreement directly.
F.Y 04-05 purchase cost 100000/- (agreed cost)
Payt made F.Y 05-06-50000/-
F Y 06-07 50000/-
Then what will be the appropriate treatment
1)Directly 100000*sale year index/pur ye
index or

2) 50000*SYI*05-06 pur index
50000*SYI*06-07 pur index separately

Dear Sir,

Please note we have imported a machinery by availing SEZ benefit in 2011. Now we want to sell it to a DTA Unit. Please advice:
1. how to calculate the depreciation value?
2. can we sell on a price more or less than the depreciation value?
3. is there any valuation method acceptable by customs for machinery?
4. On what value the customs duty will be applicable - on the invoice selling price or depreciation value?

Thanking you,

Regards,
Naresh Singrakhia