Is TDS applicable for payments to Air Ticket Booking Agencies?
Ifyes, TDS to be deducted as per sec194C?

A prop. ship firm is availing deducxtion u/s 80-IB from the last 4 years. Now the prop. and his wife want to have a PVT Ltd. company, which will take over the entire business of prop. firm.

Will the company be eligible for the deduction u/s 80 IB, which the prop. was availing for that business.

" U/s 194C No TDS is to be deducted where the Single payment or credit does not exceed Rs. 20000/- ans collectived the whole contract amount does not exceed Rs. 50000/- during he whole year. "

A party has taken embroidery job bills during the year with amount below Rs. 20000/- in each bill in the month of January 2008 and total of all the bills during the year does not exceeds Rs. 50000/-. Hence No TDS is deducted. but the party has made single payment of Rs. 47804/- in the month of February 2008 to embroidery job creditor.

Will this be a case of non compliance of TDS Provision.

The following is the transaction details:

a) My father purchased land in 1975 for Rs.30000/- in joint names with my mother (i.e wife & husband)with his self earned money.
b)In 1990 he built a house of 3000 sft on the land he purchased in 1975both names( wife and Husband)
c)My father deceased now has left a will which states that the 50% share belonging to my mother stays as it is and the rest of 50% devolves in the name on son and daughter in law (25% each.)

My query is that I know the cost of land (COA)for the registered sale deed but I do not know the cost of construction for the house he constructed in 1990. There is no documentary proof bills for construction and imoprovement costs (COI)thereafter.I only have the property tax receipts. How to compute LTCGT assuming i am selling the property in the assesement year 2008-2009 and how to arrive at COI is there a benchmark given or how do i value the construction cost in 1990 and improvement thereafter.Please guide me and inform which websites or information I can get myself. Or please cite example or case study. Please not my e-mail id: mehulbpatel@hotmail.com

21/8/2008 Purchase of Goods 51000/-

22/8 Cash Payment 32000/-

24/8 Cash Payment 19000/-


Whether 32000 will Be Disallowed or 51000/- ?

Plz Answer With Relevant Provisions Of Income Tax Act.

Hi,

I was working with a company in India for 2 yrs 7 months. This was my first ever job. After this I moved to London,UK and joined a company here. Now I want to withdraw my PF from India. Will the pf I withdraw be taxed? If yes at what rate?

Thanks.

we have privide TDS on Directors Commission (92B) on 31/03/2008 when we have to remit these amounts to Govt our AGM Date is 07/08/2008

Please guide me whether tax is required to be deducted at source on payment of Commission to foreign agent for arranging the materials to be purchased by my client. If yes, please give the reference of the section for provision and rate of TDS

Suppose there is a XYZ logistic co. It have been hired by PQR Co. for custom Clearence and delivery to its destination in Bombay. XYZ Co. hired a transporater MN Roadways for transporting the goods to Bombay. The cost incurred by the co. is Rs. 40000( for transportation) Rs. 500(Misc exp.) and its income Rs. 5000(Assume). Total bill of RS. 45500 is sent to the PQR & Co. for reimbursment.
Who is Liable to deduct tds?
If the tds is not dedcuted by both the party on the transportation expense than who will be liable for that.
Note: the expenses incurred by the logistic co. is Booked under JOB cost. and the same is reimbursable expense.

A foreign company incorporated in UAE has no operations in India and has no income or assessment in India. It entered into an agreement with an Indian company to train its personnel in India by the Indian company, for a period of 3 months. For the services, it pays charges to the Indian company. Whether the foreign company is liable to deduct tax at source on such payment to the Indian company? (payment nature is one covered u/s 194C). If so, whether it has to obtain PAN / TAN and file TDS return? If not deducting TDS, what are the consequences? Whether, and if so to what extent, the Indian company as its agent would be liable for such default of the foreign company?