A pvt company has been alloted PAN card which shows the status as "Firm". The mistake is on the part of NSDL as the PAN application filed was correct. We have filed the online return as per the Wrong PAN and it is going to the wrong jurisdiction and not to the company. Can ITO process the return u/s 143(1) summary assessment and issue refund accordingly?

Whether TDS is applicable on payment made to Subscription & Trade Membership?
If yes, under which sec & rate?

Thanks

Best regards
Ashwini

we have deducted tds on pyament of foreign company for professional & technical services in india.

now we have to furnish the TDS return, what is the process of furnishing TDS qarterly statement because PAN of the deductee is not available

Dear Sir/ Madam

One person sold his long term plot in june 2008 and now he applied in june 2009 by sending 110000 rs for self financing scheme and one residential flate has been alotted to him. but he never deposite any sum in deposite scheme. he has to file his return of 08-09.

Now pls tell me, what he can do to get the deduction of Sec 54F.

Thanks,
Abhishek Jain

If a developer develops a land of some others(generally this happens in real estate business) what are the tax consequences in the case of developer and the land owner?

Below are my doubts in a case....

This is a case where the land of Mr X was given to a developer Mr Y in the year June 2008 under GPA for construction of flats for sale. As per the agreement the land owner is to receive 2 flats after the construction i.e., April 2009. The rest are to be with the developer for sale.

In this case... Is Mr X chargeable to capital gains? then which amount is to be taken as sale consideration... his land market value or the market value of 2 flats received ? and when he is liable to pay tax?

In the case of Mr Y... does there any issue of capital gains? If not then in the year 2008-09 as there is only construction and no sale, is it right to transfer his construction cost to WIP ? In the year 2009-10 he sold the rest of the flats with him.... so the entire sale value of flats including land value should be taken as business income?

Kindly any one give clarity to me in this regard.

Thanking you

The indian company is making payment in USD to foreign company established in USA.
The payment is for the participation in conference held/ organised in Sri Lanka.
Also the foreign recipient company is having Permanent Establishment in India.
Whether TDS to be deducted from the payment made to foreign company?

Can anyone tell me how much portion of Director remuneration is allowable as per Companies Act as well as Income tax?
& is TDS applicable if yes then on what basis deduction is to be made?

w8ng for reply.....

pls help on the following issue:-

In one Pvt Co. salary paid to one official is Rs. 560,000/- in FY 08-09.No TDS has been deducted as of now.
Company applied for TAN in JAN 2010 & got the same.
Now can they deduct tax now for salary incurred in FY 08-09 and claim the expenditure in FY 09-10 for tax purpose?

Indian Company wants to remit in USD to an foreign Advocate firm. the bill is in the name of a Law Firm. they don't have any branch in India.The services are rendered out side India. the bill description shows that the bill is for the discussion held by the foreign advocate with resident persons over phone.
whether TDS is required to be deducted

Dear Sir,
my question is,

1) Is TDS or Service Tax liable for any foreign commission paid to foreign co. (FC)...??? if yes, how much TDS to be deducted & how much service tax payable..???

2) Service tax paid on foreign remittance to FC, can we claim back or no...??