will tds be deducted on flex printing and other hoardings. designs are provided by us. bills raised by the party include vat and no labour portion is specified. the printed material is used as advertisement. any material required is acquired by the party itself and the finished product is delivered as per our specifications. will tds be deducted u/s 194C

Dear sir,
one of my clients (a partnership firm) is having a property registered in the name of the firm. The partnership firm is out of business for a long time now intends to get in to business back. The property is going for redevelopment. What should be done here to save tax on the above redeveloped property in the hands of the firm.

Dear Sir/Madam,
i am working in a manufacture company. here doing motor repair and rewinding work based on work order.My query is this work applicable TDS or Not,section etc.

Pl. clarify it.

Hi,

One of my Customer has an query related to availing LTA exemption for this year fy 2012-13.

Travel date and travelers details as below.

18-Oct-2012- His mother and father travel from CHIRALA (Native) TO BANGALORE via train and the fare was - 340.
18-Oct-2012 his wife and 2 daughter also travel from Bangalore to Delhi via airline with fare of 12930.
19-Oct-2012 his parents travel from Bangalore to Delhi via train and fare was Rs. 2840.
21-Oct-2012 along with his parents, Wife and daughter he also travel from H Nizamudin to Udaipur via train and on 24-Oct-2012 from Udaipur to Mumbai and the total cost of travel was Rs. 8285.
26-Oct-2012 along his family members he travel from Mumbai to Begampet that cost him Rs. 7895 via train.
28-Oct-2012 along his wife and daughter he traveled from Begampet to Bangalore which cost him Rs. 1303.
28-Oct-2013 his Parents travelled from Secundrabad to Chirala which costed him Rs.696.

Note:
He was on leave officially from 22-Oct-2012 to 25-Oct-2012. though the 21-oct-2012 was on Sunday he started his journey from 21-Oct-2012.

Kindly help me in calculating the LTA exemption for this FY 2012-13.

Thanks in advance.

will tds bw deducted on flex printing and hoardings. bills given by party include vat

Hello everyone,

it is normal in case of a pvt co. that members who are also directors transfer funds from company's bank a/c to their personal bank a/c for personal use.

since loan or advance by a company to its directors holding more than 10% of shares is treated as deemed dividend and is taxable in the hands of the director and company is also supposed to deduct tax at source.

can we do the following tax planning
1. appoint another person as member with say 1% shares and whenever director/members need funds they can do so by first transferring from co a/c to to his a/c and then they can withdraw from him.

Is it practically possible or there is any better way of tax planning ??

waiting for the views of the experts

Company purchase a assets in the name of director but payment had been made through company bank account
In that situation weather can capitalised asset in Company books of account and any dis closer is required for that

what should be done in that situation

Dear Expert,
An assessee sold plot of land and not offered the same to tax at the time of filing his Return of Income, later he received notice for assessment U/s 143(3). In assessment proceedings A.O. added Capital Gain Income into his total income and assessed accordingly. Due to that addition there was additional tax liability, which assessee paid after assessment proceedings. Now AO issused notice under Sec 274 read with 271(1)(C) to levy penalty u/s 271(1)(c). What is the way out to avoid penalty or at least reduce it to minimum.

Dear Sir(s),

My query is that what shall be the treatment of excess amount that we pay to the retiring partner over and above his capital contribution in the partnership firm.....

For instance, there is already a firm having a capital of say Rs 1000/- and now some new partners shall be inducted who shall introduce the capital of say Rs 1500/- and then the old partners shall retire from the firm and shall be paid by the firm Rs 1500/- against their contribution of Rs 1000/-...

My query is what shall be the treatment of Rs 500/- extra/premium paid by the firm to the partners in the hands of the partners?????

Also what shall be the tax treatment, is the firm liable to deduct some TDS etc on such an extra payment????

Please reply ASAP

Thanks & Regards

Sir,
Please suggest us how to calculate the rebate of 80G.

Regards,

Sunil Pareek