Sir,
Consider the example :
Mr X is a assessee whose due date is 31st July u/s 139(1).

He deducts TDS on 31st March,2010 but does not pay it. He wants to file return on 5th June, 2010. He will pay the TDS with interest before 31st July.

My question is 'What is the allowability of the expense on which TDS is made ?' because u/s 40 ia its mentioned that if tds is paid before the due date u/s 139(1) then the expense shall be allowed for that A.Y.

so in above example i want to file return on 5th june but for TDS payment i have time till 31st July.

Please clarify the matter at the earliest.

Regards,
Karan Joshi

help m wid somethng
there is a NRI assessee
he is being paid Int on 4 NRO FDs quarterly
now bank has deducted TDS on certain payments n no TDS on few others
nw finally the assessee has to pay tax alongwith int due to fault of the bank
is there a way out

Hiii All...

If anyone can explain Sec 150(2) which is exception to Sec 150(1).

Pls help

One of our client runs a Vocational Training center(Industrial Training Center)from 1998 after registering the same institute under Society registration Act in one of the district of Orissa.However they did not apply for registration under Section 12A of the Income Tax as yet.Are they eligible to get exemption u/s 11 of the I.T Act on application of the whole income for charitable purpose

One of our client owning an office in a commercial building is going for re-development. Our client would get Rs.20,000/- per month as dishousing compensation - for acquiring temporary alternative accomodation for a period of 33 months. Since our client owns one more office he doesnt need an alternative accomodation. Our question is should this income of Rs.20,000/- p.m. be treated as rent income. If yes. the property is not let out. What we are getting is for acquiring an alternate accomodation. If it is income from HP. Can we claim deduction U/s. 24(a)?

If not, should this be treated as income from other sources as there is no letting out of the property?

I am applying for PAN directly on NSDL website and I need to compulsarily provide the following -
Area Code
AO type
Range Code
AO No.

I am applying for a Partnership Firm with name starting with the letter 'F' and regd office in Delhi.

The facilitation centres have not been able to provide the details and I do not wish to apply through them.

I believe that there is a book which has the details.

Can someone please go through the book and give me the details?

Mr. X & Mrs. X have Joint Bank Account.
Rs. 500000/- is Lying in the Account & That of Mrs. X.

Cheque Issued From Joint Account For Rs. 5 Lacs in Favour of Proprietorship Firm of Mr. X as a Loan.

Mr. X has Signed The Cheque But Amt. Lying in the Account Belongs to Mrs. X.


Now AO Says That This Amt. Belongs to Mr. X & Only Dummy Name Has Been Mentioned .

He Wants To Treat The Amt. as Undisclosed Income.

Now My Question is Whether the Contention of AO is Correct or If any Case Law Belong to Such Matter.

Sir i requires the changes relating to salary and house property for A.Y 2011-2012.So pls provide the same or give sources.

A COMPANY HAVING i)INTEREST INCOME 5LAC
ii)sales 2lac
iii) profit from aop 100 lac

My question is since profit from AOP is exempted, whether it will be included in the turnover or gross receipt to calculate the limit for tax audit U/S 44AB and in the above circumstances the company is liable to tax audit.

X buy a showroom in mall and Make payment of rs 4000000rs.Out of which is 2000000rs loan from bank.Builder makes gurantee to pay rent after the 18 months period if possession is not given within 18 months. After 18 months X did not get the possession of the property.Then builder paid rent to X @28000 P.m. for 15 months.And x get the possession of the showroom after 33 months. What is the treatment of 15 months rental income? Can he claim deduction of the interest paid under the head income from other source for the interest paid for 15 months?And does it make any difference if he take loan form relative or friend?