Dear All,

If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.

(Entry : Landlord A/c------Dr
To Bank

Can company claim this as Bad Debts ?

or It is covered under any other head ?

(Because I think for bad debts, debts should be out of credit to P&L)

On maturity of deposit my bank has deducted an amount fro TDS even though i have submitted Form No. 15G.
upon enquiring, the banker is telling that only upto certain interest amount earned on Fixed deposit say Rs.1,00,000/- TDS is not made, but on exceeding such amount, bank deducts tax on the interest amount.
kindly give guidance on this issue as i am aware that If the Payee submits a declaration in Form 15G/ 15H in duplicate stating the following, then TDS need not be deducted:
a)That his total income is less than basic exemption limit of Rs.2 lac.
b)Even if his total income exceeds basic exemption limit of Rs.2 lac but tax payable after deducting rebates u/s 80C is nil.
Thanx

I had filed IT return of a client on 30/01/2013 for A.Y 2011-12(Tax Audit Case). but i had already paid the net tax payable along with interest on 25/10/2012. Now i have got an intimation U/S 234 A to pay interest for that 3 months extra. but software didn't recognized any interest as the tax was already paid in October. whose view point is correct... please reply as early as possible...

Kindly send me statement of facts for income tax appeal

Dear Sir,
I want to buy a land having value around 40 lacs. For which I will arrange 10 lacs out of bank limit and I will arange remain 30 lacs, from my agriculturist relatives.

Now please advise me, It is better to take it as a gift
or
take it as a interest free loan.

Please advise me which would be practical way and what are the formalties that I have to follow for the same.

Waiting for your reply.

What professional services included in 44AD.
Kindly give me some examples or list of all.

Dear All,

I have a partnership firm in which there is a change in partners. Do i have to apply for correction in the PAN Card.

sir, please tell me about the nri huf whose karta is residing in usa. i want to know about the tds rate at which the firm should deduct the tax on payment of interest payable on unsecured loan.

Section 10(37) exempts capital gain arising on transfer/acquisition of Urban agricultural land situated in any area referred to in section 2(14(iii)(a) or 2(14)(iii)(b).
And as per section 2(14(iii)(a) or 2(14)(iii)(b:
1. Agricultural land in India, not being land situate—
(a)in any area which is comprised within the jurisdiction of a municipality which has a population of not less than 10000; or
(b) in any area within such distance, not being more than 8 KM, from the local limits of any municipality

Sir I want to clarify that if the agriculture property is situated either within the limit of 8km or in any area which has population of more than 10000. Then on acquiration of such Land by property, compensation received will attract Capital Gain or not.

Pls clarify

Whether TDS should be deducted on annual custodial fees paid toNSDL, CSDL and BSE of Rs. 40,000/- each. Please give reference if any and section.