I have received a notice U/s 154 from TRACES, demanding a sum against "Additional late payment against the processing of latest correction". Actually this is a case of short payment, and I have paid the short amount with interest and filled the correction statement with adding new challan for required correction. My question is under which section of income tax, they levy such type of payment.

Sir,

Is TDS is applicable on transportation charges? if so what is the rate? What are circumstance TDS is not applicable for transporter. Please give reply soon.

One of our client has expired so we have filed the return with the name of legalheir. We have refund amount for that client. Now my doubt is who's bank details has to be given?. How to claim that refund amount.

In case my partnership firm is dissolved through deed, at the time of sending notice of discontinued business to the A.O(under sec.176) do i need to surrender PAN too? If yes, how will i get refund of TDS (given Bank account would need PAN) after filing return for the period ? If no, when i will need to surrender the PAN?

Dear Experts,

01. Could you please the difference Section 50 and Section 54F of the Income Tax Act, 1961.

Is interest or late fee paid to state excise department is an allowable expenditure u/s 37 of the Income Tax Act, 1961. If so, are there any relevant case laws in favour of the assessee.

One of my client has hired skilled and semi skilled employees on contract basis and these employees are on payroll of client only. Employees are receiving benefits as per employee-employer relationship like PF, ESI and other allowances as well. Under which section TDS should be deducted? and if there is any judgement in this regard

Hi,

I have a query. If a NRI who is a resident of a country with which India has a DTAA agreement, offers his professional services to an Indian company, is it required for the Indian company to pay 10 percent TDs as per 195 section of DTAA? Can the NRI pay the entire tax in the foreign country instead and avoid TDS in India? What forms should he submit for that?.

Thank you,
Kreeta

Resolved and deleted.

Hi,

I worked as an employee for more than a decade and my PF account has accumulated some fund. I left the organization and started my start up firm (Pvt ltd) around 3 years back.

1. AS AN EMPLOYEE of previous firm --
a. My PF amount is still there and it earned interest till few months back but now it is not earning any interest. There is a PF rule in that regard.

2. AS AN EMPLOYER of current start up firm --
a. My firm has PF number (it was mandatory to take during registration) but we are only 2 people (my and my partner) and we do not pay ourselves any salary. Naturally, there is no PF contribution.

Now, if I start paying myself salary and start contributing minimum PF to myself, will that RESTART the interest payment to my accumulated fund as well?