An individual (not liable for Tax Audit) paid total tax as Self assessment tax before the due date of filing his return for AY 06-07 that is before 31 July 06.He filed his return for AY 06-07 in the month of December 2006.The AO levied Interest U/s 234A for late filing by applying rate of interest on the tax paid before 31 July for the delay in filing the return.The Assessee contends that the interest should be Zero as tax payable was 0 and 0 multiplied by any rate of interest will be Zero.Who is correct?Why?

The Section 234A does not give credit of SA Tax in such a situation.What about natural Justice? Is natural justice demand by assessees tenable in tax laws?if yes ,why? If not,Why?

Dear Friends,

I am in need of details of the follwing High Court case:

Details of Case: CIT v Panama Chemical Works (2000) 245 ITR 684 (M.P.)

The case is regarding submission of Form No. 10CCB during the Assessment Proceedings.

Pls send me ASAP.
Thnks.

Dear Experts

Section 194C excludes TDS on hire charges, i want to know whether 194I is applicable for hire charges for Plant & Machinery...............


Pls reply soon

sir,

I sold my resedential flat in april 2007 and bought new flat in may 2007 .so I got full exemption as I invested the amt.

now in december I am getting 32 lacs from my grandfathers property which was a plot in mumbai.this property was bought in 1955.we are 6 brothers .individually I am getting share of 32 lacs .my question is if I invest total amt in resedential property will I get exemption from long term capital gain.as in my case 2 transcations of capital gain happening in same year

Hi,

Can anyone let me know what are the provisions to be looked into while doing Tax planning for a Construction Firm.

A Person has a car. He use it for delevery of news paper bundles of HT and Charged hire for it.The number of car is not commercial.
Whether this income is shown under 44AE or maintain seperate Books for it.

H S B

What is 'Ward', 'Range', & 'Circle' ? What is the difference between them. On what basis, they are allocated to the assessee.

My friend has a properietor ship busines.
He has PAN in his own name.
can he obtain new PAN for his properietor ship concern?
he need PAN in his busines name because he have to coat this when he submit application for any auction.
Experts please guide me.

We know that while Housing Loan is preclosed, there would be preclosure interest charges @ some% of the principal oustanding on the date of pre-closure.

My query is that whether the same can be treated as Interest under House property in the year of sale of house property as it is necessarily a interest cost on the housing loan & deductible under Sec 24.

If YES, please confirm as to whether there are any decided cases on this?

IF NO, Please confirm, whether it can be treated as COST OF TRANSFER of the capital asset (house property) and be taken AS DEDUCTION in computing CAPITAL GAIN

i would like to know about the exact date of the applicabilty of 1% higher & secondary edu cess on tds? pls also quote relevant link or supportive text.