Sir,

After the inorporation of new section 194T of income tax act 1961, I want to clarify TDS applicability in respect of the following transactions.

1. Interest on Capital Rs. 1,50,000 paid to Mr. A (Resident partner)
2. Interest on Capital of Rs. 2,25,000 paid to Mr. B (Non Resident Partner)
3. Interest on Loan of Rs. 3,05,000 paid to Mr. C (Resident Partner)
Here, which TDS sections was applicable. Need clarification whether 194T, 195 or 194A?

Our client is engaged services in exhibition stall fabrication. can we file ITR-4 return under SECTION 44AD. Client's turnover is 80 lakh.

if husband sold the residential property and same proceed invested again in residential property in the name of wife then he is eligible to claim deduction under section 54 ?

A project is going on in remote area where DG set is there to supply electricity and generator also.
There is a daily consumption of diesel for Rs.10,000/- per day.
In books of accounts under which head the expense of diesel will be booked?

Dear All,

Mr. A purchases goods from Mr. B and also sale goods to Mr. B

Mr. A pay to Mr. B after adjusting sale amount against purchase consideration.

Can Mr. A take Input tax credit of purchase made from Mr. B. (i.e. without actual payment of full consideration) in such case?

Do Mr. A has to maintain and settle purchase account separately from sale account to claim input tax credit?

Thanks & Regards
Nirmal Dave

A widow having 2 married daughter and no son; can she form a HUF with her daughters and son-in-law?

If a Composite Registered Saw Mill purchase Timber from Unregistered Person or URD Dealer. Is RCM tax @18% will have to pay Saw mill dealer?

Rent is due to Limited Company by Government Organisation. But rent is pending for the financial year even after ITR due date of the Company. The TDS which was deducted in the subsequent year for the rent pertaining to the earlier year. In such situation TDS is to be reflected in the year in which it was deducted or pertaining to earlier year for which rent of the year?

Whether company has to show in its accounts for the rent as rent receivable for the rent amount not received from the Government . In such case Company is liable to pay tax for non receipt of rent during the year. What will be the alternative?

Respected Colleagues,
If Mother sold the residential property and same proceeds invested again in residential property but in the name of her children (Registry in the name of Children), then Is she eligible to claim Sec 54 Exemption in ITR?