Whether i am liable to deduct Tax at source on payment of Sales promotion Expense beyond Rs. 75000??? Should i treat it as a contract????

Respected Experts

I want to know that whether incentive bonus received by LIC Devlopment Officer will be allowed to deduction of 30% of 40% deduction??

This incentive bonus is generally received due to the good work done by them and for such work they are frequntly arranging the training and awareness programms for agents and for clients as well so this include huge cost so can it be claimed as deduction?(as far as i know it is allowed flat at the max 30%)

Further can LIC D.O. claim depreciation on car used for the LIC business and also car insurance premium??

Actually they are receiving the salary however his duty is to train agents and many time to go wid the agents for any calls or many times they need to use the vehicles for the various claims. so can they claim depr and ins of car?

Plese help me....
Waiting for your reply.

Thanks in advance.

whether int on tds is required to be reported in 3cd...
whether it is compensatory or penal in nature

If it is b/c of late payment of tds[compensatory]
If it is b/c of non payment of tds[penal]].......

whether the above pts r correct or whether any int paid under DT laws r disallowable whether they r compensatory or penal.

pls clarify the situation

Hello frnds... Kindly provide ur valuable suggestions the issue!!
The brief facts are:
The company is in the business of Hybrid Seeds. The production of hybrid seeds is done from foundation seeds supplied by the company. The production is given to various organisers who are basically like a middleman/ Team Leader with a group of Farmers in an area under him.
Company deals mainly with the organizers only. The company supplies foundation seeds to the organizers with agreement to supply the hybrid seeds as per the quality parameters of the company. The production taken by the organizers with various farmers is continuously monitered by the company's production team. Advances are also given in some of the crops from time to time on achieving certain milestones set out, this amount is debited to the account of organizers.
The foundation seeds supplied to organizer is billed to him by debit to his account and shown as sales in P&L account. The company pays consolidated price per kg to the organizers towarsd procurement of of quantity that has passed the quality parameters of the company, which is credited to the account of the organizers.
Question
1. Whther as per the amended sec 194c, the supply of hybrid seeds as per the requirement of the company by the organizersusing material of the company is liable to TDS provisions?
2. If yes then at wat amount, if organizer gives invoice by splitting the amount into seed cost and his contactor's remuneration or service charges or commission on purchase?
Kindly guide on the same.

Dear Experts.

Say someone purchased a capital asset (eg. shares) in a foreign country.

At what Fx rate is on required to pay tax on the profits realised, if the money is still in a banks in the US.

Example. Made a profit of $100. Now for paying tax, what FX rate in india will be used?
The cost of transferring the FX or closing rate?


Thank you for your time.

I have filed my return with CPC, Banglore. However, I was denied the credit for Loss on Income from House Property & demand was determined. I filed the rectification return (e- filing) but the same was rejected. I have not received the revised order and the system is not allowing me to file for another rectification with the same communication number

Shall be grateful if anyone can guide what should be done in this case

In clause 27 (a) whether the assessee has complied with the provisions of chapter XVII – B regarding deduction or tax at source and regarding the payment thereof to the credit of the central Government [Yes / No]

(b) if the provisions of Chapter XVII – B have not been complied with, please give the following details, namely

Iv) Tax Deducted But Not Paid To The Credit Of The Central Government

in above clause if tax not deposited till 30/4 have to be reported & if such tax is paid till 30/9 then also need to be reported???????????

a/d to me it should be like if tds not deposited on 30/4 then we should report here b/c [clause 27--chapter XVII specified] even if same is deposited till 30/9 [30/9 is for disallowance of 40(a)(ia)

Mr A , NRI sold a property in India & wishes to save capital gain tax arising on the sale. Is section 54 applicable to NRIs. Is the deposit scheme applicable ??
Also can he purchase property outside India & still claim exemption.

In case he has to repatriate funds back to his country .. What are the ptovisions for the same. Any RBI permission reqd..? What is the total amount allowed to be repatriated?

Fashion Show fee and stall setup charges/ member ship charges paid to FDCI (Fashion Design Council of India) for this we need to deduct the Tax ( TDS )
For above circumstance please suggest me where it comes under contract or Professional technical charges

what is the treatment of deferred tax assets already appearing in the balance sheet?also whether section 145a impacts the above and in what manner?