Hello Sir

Is Provisions of 15CA and 15CB is applicable in case of payment of rent for Property situated in India to an NRI?

If Yes Further
Rent paid to NRI is credited to their account with indian bank and not remitted in Foreign? it makes any difference

Further the NRI is not having PAN Card, so can we issue 15CB Certificate to them without PAN Card?

I Have also heard that Provisions of 15CA and 15 CB is not applicable in case of payment of rent. is it correct?

Please Help me out to solve the above situation.

Waiting for your early reply.

i want entry for provision for income tax & deffered tax till assessment year with some example. in a simple language. i am so much confused. pls tell me from starting means advance tax.

In case of making Provision for Taxation whether Interest for delayed payment of Income Tax to be charged to Provision for Taxation or any Other Head????

when i prepared balancesheet of pvt ltd company then i prepared deprication chart according to income tax act and according to company act and company sold a individual asset (not in block)and according to incometax act when i shown it in depriciation chart its selling value is more that its w.d.v but according to company act there is no profit no loss then whether should i ignore this asset according to incometax depriciation chart

Dear Expert

I have been contracted with advertisement company since one year and given them PDC's then i have not deducted the TDS. how can i treat for this.HOw much TDS should i calculate and were it is effect in bank account, P&L account and Balance sheet.

Thx & Rgs

The Assets under TUFS- Technology Upgradation Funds Scheme of Ministry of Textiles are eligible for deprecation at 50%.(section 32)

TUFS is extended upto 31.03.2012.
But the Income Tax Act says the asset put to use before 01.04.2004 are eligible for depreciation @ 50 (Section 32)

What is the implication of extension of TUFS ??
Is it the asset should be put to use on or before 01.04.2004 and such asset would be eligible for depreciation @ 50% till 31.03.2012
or the asset can be purchased and put to use on or before 31.03.12???

Dear Experts,

I am working in a Company org. Our Company's Principle business is letting out property on rent & sale/purchase of shares, Debentures & Bonds. We had taken Term loan for purchasing shares in the last financial year 2010-11. We had applied for the shares of X Co & paid whole loan amount for the purchase. But till this year end there is no allotment to us. So we kept whole amount as Share Application Money.

We had paid interest to Financial institute on term loan taken. My querry is whether Income Tax Dept accept our claim for the inerest for deduction from Income for 2009-10 or not. If not why & what treatment should be given in the books to get the same?

Regards

Prashant

hey all, i have a quite confusing situation, plz help me on this...
if a manufacturing concern sponsors 20 students of some NGO then the amount so spend on providing sponsorship like bags, note books, pens etc. would be allowed as expense in its P&L A/c or it will be treated as Donation????

As per sec 16 (ii), the Entertainment Allowance is specifically taxable or exempt upto certain limits in case of Govt employees.
Can the Entertainment Allowance be considered for exemption under section 10(14)also?
What made me to ask this qn is that such exemption of a hefty sum is allowed in a Form No 16 issued by a well managed company

EXPERTS PLZ. CLARIFY FROM WHICH ATTEMPT THE DTC IS APPLICABLE IN FINALS?