Manoj Kumar
18 March 2008 at 14:07

TDS on payment to Custom House Agent

Hi
Whether payment to Custom House Agent for providing services in case of import/Export attract TDS u/s 194C or 194J ?
Plz,give reference also


Shrinivas
18 March 2008 at 13:07

House Rent Allowance

Can House rent paid in cash allowed u/s 10(13A). If it had Cash payment receipt.


harshit

Our employee has going to housing loan and loan sanctioned but EMI deducted from the month of April'08, but processing fees paid Rs.9500/- in the month of march'08.

for the a.y.2008-09 he can claim deduction of rs.9500/- in 80C

please sir, clarify this


Rahim
18 March 2008 at 11:51

Tax Deducted At Source

whether the following are eligible for TDS? If yes, What are the rates?
1. Certificate charges.
2. Professional Fees
3. fumigation charges
4. service charges
5. port dock fees
6. servey and supervision
7. weightment exp.
8. storage
9. handling charges
10. terminal handling charges
11. stuffing charges
12. detention charges


BIJAY MITTAL
18 March 2008 at 11:28

Income from share business

The assessee is carrying the business of buying and selling of shares.The transaction are mostly on intra day basis.The total turnover for the year exceeds Rs 40lakhs.Now will it be compulsory for the assessee to get his account audited u/s 44AB and also on what basis the closing stock of the shares shall be valued i.e whether on cost or at Market value which ever is less OR only at the cost Price.


saravanan
18 March 2008 at 11:23

Where to file return

Ive been filing return in mumbai for past three years. now im relocated to chennai (native and pan card is from chennai). my PAN no verification in IT website says jurisdiction as mumbai. can i file return from chennai (as my new form 16 will be from chennai) is there any additional effort required from my part as earlier returns used to have column mentioning is there any change in ward but ITR2 doesnt have any such provisions.


BIJAY MITTAL
18 March 2008 at 11:20

Allotment of land by HUDCO

The assessee advanced money for the purchased of land from HUDCo.The land was allotment by the harayana govt.on lottery system.The assessee was allotted the land.The assessee transfer the allotment to some other party thereby earning some profit.The query is whether the profit earned on the transfer of the land without purchasing the same shall constitute capital gain or shall it be considered as income from other sources.The advance for the land was given some 3 years back.


nitin kumar vijay

A COMPANY PAID HRA 1500/- P.M. TO HIS EMPLOYEES & PROVIDES ROOM IN HIS OWN BETCHLER HOSTAL IN SHARING (TWO EMP. IN ONE ROOM) AND DEDUCT 500/- P. M. FROM SALARY OF EMPLYEE.
IS LIABLE FOR PERQUISITE AS RENT FREE /CONCESSIONAL UNFURNISHED ACCOMADATION OR NOT? IF NOT THAN RENT 500/- PAID BY EMP. WILL CONSIDERED IN CALCULATION OF HRA EXEMPRION [U\S 10(13A)].


Vipul Kumar Singhal
18 March 2008 at 09:39

E TDS NIL Return

Some one pls let me confirm wheather the quaterly Etds return is mandatory or not in case of nil tax deducted. pls quote the section, circular or notification ref no


M.R.KANNAN

Two residential house properties are purchased, one in 2004 and another in 2006, each under an housing loan availed from 2 different banks. Whether assessee can claim deduction u/s 80C on repayments of both these loans for AY 2008-09? [or whether the section permits deduction on only one (first)housing loan pertaining to one property only?]

Will the answer be different if in the above case, second loan is availed to construct first floor on the same property?

[The loans are used for construction only and not for any repair / renovation in the above cases]

The above queries are with specific reference to the later restrictive provision of the same section. The A.O interprets that any additional loan availed, whether used for constructing additional floor or a new building, after completion of construction or obtaining possession of first property or ground floor, will not qualify for deduction for its repayment.






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