Taxation of Local Bodies
This query is : Resolved
04 March 2009
Dear Sir,
1.Tax Liabilty of Local Bodies?
2.Is any recent circular has been issued bu the Income tax Dept regarding the taxation of local bodies,if yes please give the circular number with date of notification?
3.A Local Bodies registered in the State of Kerala has deposted an amount of Rs.10Lakhs as Investment in corporation established under section 4 of the Indian Companies Act,whether interest earned by such corporation is liabile to deduct TDS under Sec.194A if the Interest has crossed the ceiling limit of Rs.10000/- in FY 2008-09
1.Tax Liabilty of Local Bodies?
2.Is any recent circular has been issued bu the Income tax Dept regarding the taxation of local bodies,if yes please give the circular number with date of notification?
3.A Local Bodies registered in the State of Kerala has deposted an amount of Rs.10Lakhs as Investment in corporation established under section 4 of the Indian Companies Act,whether interest earned by such corporation is liabile to deduct TDS under Sec.194A if the Interest has crossed the ceiling limit of Rs.10000/- in FY 2008-09
04 March 2009
1. Local Bodies/Authorities are taxable @ 30%.
04 March 2009
2. Not heard about any recent circular about their taxability.
04 March 2009
3. If that is an bank then the limit is Rs, 10000.00.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- GST Regis.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
