Whether the expression occuring in section 115JB "the income-tax, payable on the total income as computed under this Act" may be interpreted as 'income-tax payable before rebate u/s 88E'

OR

The legislature had meant it as 'income-tax payable after rebate u/s 88E'

Please apprise if any Court of Law has decided this issue.

Thankx and regards

Finance Act, 2005 had substituted the word "eight" by the word "four" in Sub-section (4) of section 73 of Income-tax Act, 1961, with effect from 1-4-2006.

Question arises here as what will be the position of the losses suffered by the assessee before the Assessment Year 2006-07 (for which the Assessee was entitled to carry forward the same upto 8 years), which remained unsetoff as on 01.04.2006 and the period of four years from the end of relevant assessment year stood expired as on 01.04.2006; but the period of 8 years would expire after 01.04.2006.

Kindly also apprise if the captioned issue had come up and decided by any Court of Law.

Thankx and Regards

Sir,

As per notification 238/2007 dt 30/08/2007 it is mandatory for persons who are liable for audit u/s 44AB to deliver quaterly returns in computer media(CD ROM 650 MB). My query is it mandatory for those assessees who have not deducted TDS during the quarter to file E-TDS returns?

Is there any particular software available in the e-filing website for filing the returns or should we fill the said form (form 26Q etc) and deliver the same in the computer media?

Dear Sir,

I have a doubt the following is the situation:-

The invoice amount is for 100 Rs, In our books we charge withholding tax @10% thatb means the invoice amount is now Rs110/-

Now Rs100/- is given to vendor & on that service tax is charged.

The excess Rs 10/- also do we have to charge Service Tax.

Sir and also please give me ref to which act or section you got the data from.

Thanks,

Amit

Company XYZ Pvt Ltd wants to purchase the 100% shares of ABC Pvt Ltd FROM Mr and Mrs X. To purchase the shares XYZ Ltd will have to take the loan. In this case can XYZ Pvt Ltd claim interest paid as expense in their books of accounts and claim benefit under income tax?

mrs. x purchased open site and registered in her name. now the housing loan is going to be obtained in the joint names of mr.x and mrs. x. all the approvals for construction of the house will be in the name of mrs. x. can mrs. x and mr.x claim interest on borrowed capital u/s 24(1) in proportion to the repayment of loan from their sources.

we are private limited company. We were using a car for hire. per month hire charges Rs.11000/- inthis way it is applicable any tds. please give tax rate and explanation of applicable section.

stores & spares, which have become unusable, and written off from the books of the company. Whether such writ off is an allowable expenditure in income tax or not. Is there any case law in support of such write off.

We have voluntarily filed e ITR form ITR2 for one of our clients claiming refund of tax; without digital signature.
However, during the filing process there was power failure and acknowledgement could not be generated and printed.
However, now if we want to file the return it is not accepted by the website and it says revised return is to be filed since already the return has been accepted.
How can we get the acknowledgement to submit it to the Income Tax Department.

As per recent directive of RBI CA certificate regarding tax deduction under Section 195 has to be submitted to bank for making any remittance abroad. Section 195 covers payment to foreign company and says TDS FOR DEDUCTION ON ANY OTHER SUM CHARGEABLE UNDER THE ACT . In case of payment of import purchase will this be applicable? Please also refer to Section 195(2).