Firm "A" which is liable to Tax Audit is making payment of Rs. 10 lacs as non-compete agreement to one of its employees on his retirement.

My Query is whether the firm is liable to deduct TDS on the sum so being paid.

Regards

Dear All,

I have bought a machinery from a foreign company & I have made payment to that company from India. Now that machine will be used by the foreign company for producing my goods as per my requirement. After accomplishing my works machine will be sent to India. Now i wanna know that how i should show the payment in books of accounts. Can this machine capitalized in my books.Also, this is to inform that no duty has been paid so far because machine will come in India after accomplishing the works.


Regards

what is the provision regarding set off, carry forward, carry forward and set off of losses from specified business under 35AD?

hi sir ,is pre-EMI interest on housing loan allow as deduction u/s 24(b).

Pre-Emi interest is not a pre constructions period.
so kindly reply as erly as possible.
Thanking you.

Sir my refund check was returned due to improper address, so what i do for getting the refund cheque?

DEAR SIR,

ONE OF OUR EMPLOYEE IS A PHYSICALLY HANDICAPED WITH MORE THAN 40% AND HE IS WORKING IN OUR COMPANY FROM LAST FIVE YEARS
TILL NOW HIS INCOME WAS BELOW LIMIT BUT IN F.Y 2010-2011 THE INCOME EXCEEDS THE LIMIT AND LIABLE TO PAY TAX. PLEASE ADVISE CAN A COMPANY GIVE THE EXEMPTION U/S 80U (PHYSICALLY HANDICAPED) TO OUR EMPLOYEE AND ON WHAT CONDITION THE COMPANY MAY GIVE THE EXEMPTION.

One assessee have been allotted two PAN number by mistake;

It was noticed only over a period of time; and
in the last year surprisingly two IT returns were filed by the same assessee with his two PAN number..

Is there possibility to have rectification u/s154 or what is the remedy..or consequences..

If a salaried employee has taken housing loan but he could not get the possession of the property in the first year while he paid the first installment of principal & Interest.
Then he can take the tax benefit on that amount in the following 5 years as 1/5 each year.But please tell me if that person pays off the loan just in 3 years then what will be the treatment of the left 2/5 portion of housing loan int+ principal.Can he claim it in the third year only.

A ( propreitor) transfer all its propreitor ship firm's assets(including land & Building) & liabilites to a partnership firm (having A, B, C, as partner)in which A holds more than 50% of share. [ B & C are son of A]
After the period of 2 years A expired and other partner (B&C) continue the business.

Quirey: whether any capital gain tax liability arises.if yes comutation of consideration.

Dear Sir,

What is the last date for payment of TDS for the month of march, for TDS deducted on

Salaries u/s 192.

If we take March 2011 salary into Gross Salary for the year 2010-2011, what is the last date for payment to Central Govt A/c?

Please clarify sir.

Thank you,