what is difference between TDS and TCS?

TDS -deduct by the person who is making the payment against the expenses (we have to pay this to gov)
TCS-even though we are collecting (is that we need to pay same tax to gov)?


both are the liability to pay to governmen?..

Can payment of penalty to MCD be claimed as expense?

One registered trust has only interest income and no donation.It donates amounts to another trust having the same object as the donor trust,out of that year's interest income. Is this treated as application for trust purpose?
It also make donation to another trust with same objects, out of the fund accumulated/set apart in the earlier years. Can this be considered as application out of the special fund and claim tax benefits?

I want to Income tax Return file Basic Salary 12550.00 P.M. PF 1506.00 ESI 220.00 P.T.200.00 how to calculate my income.

One of my client engaged in retail business has total turnover of Rs.6000000. His total profit is 275000 which is less then 8% prescribed u/s 44AD. However his total income after deduction is 112000 which is less than the basic exemption limit. Is he Liable to Tax Audit u/s 44AB?
Pls do reply urgently.

Hello,

I am a not practitioner , so can file itr 4 for Proprietary firm for the f.y.2012-13

if yes give me some guidline

My Income Tax audit under process and TDS deduction on 31/03/2013 and paid on 07/05/2013, Kindly send calculation on late payment TDS Amount Rs 23,492/-
Our auditor calculate Interest from 01/03/2013 to 31/05/2013. Whether this is correct.

Upendra T Kuber
Malde Paper Box

Dear Sir

My client's appeal is dismissed at CIT(A) due to non attendance.

Please tell me what to do further, whether there is any way to restore the appeal if yes then what are the procedures and process.

Thanks in advance !

Can some advise tax implication if any, being an agency we are paying honorarium to Doctos Rs. 25000/- (total nos. 1500+)on behalf of client?

Regards

A partnership firm got itself converted into a public company under part IX of Companies Act, 1956. During the course of conversion the company paid the consideration (by way of issue of equity share capital at par value) in excess of the capital employed by the partners as on the date of conversion. This has lead to creation of goodwill in the books of accounts of the newly incorporated company. Now the query is relating to depreciation on goodwill created. In light of recent judgement by Honorable Supreme Court of India in the case of Smifs Securities Ltd., Goodwill is an asset within the meaning of Section 32 of the Income Tax Act, 1961. In the light of the above judgement can the company claim depreciation on goodwill? Please consider that in the above mentioned case law the goodwill did came into existence as a result of amalgamation of two companies and in the company in the question above, goodwill has arisen as a result of conversion under Part IX of the Companies Act, 1956.