Sorry to bring up the query again. I am confused by divergent views read in various forums.

I have for reference the decision of Delhi HC in in CIT v. Orissa Cement Ltd. [2001] 250 ITR 846/118 Taxman 449. As I understand TDS is to be made for sitting fees. Is there any other case law overriding this?

What is the legal/judicial position as many big corporates do deduct TDS from Sitting Fees paid.

Regards

Raman

Hi all,
Which are the best classes for Direct Taxes ? My attempt is in May 2010. (CA Final New Course). Are Kalpesh Classes the best for teaching & notes and do they give guarantee for completion of portion in time ? In Andheri where are they located (Near Station )?

If the employee resigns before 3 years and pays Rs. 3 lakhs to the company, how will this amount be treated in the hands of the employee and employer? Will the employee get any benefit of Rs. 3 lakhs paid to the employer

if the a person provides copy of bank passbook, income tax return and confirmed copies of account of the assessee is it enough to prove the identity, creditworthiness and genuuiness of the transacions.

assessee has purchased machinery which includes delievery and transportation charges also but the tds was not deducted u/s 194C on the contractual payment made to the transport agency. whether the proportionate depreciation can be disallowed on the transportation charges capitalised to the cost of the machinery.

Sir, Search was conducted and notice u/s 153 is issued to file returns for the prior six assessment years. Should these returns contain same income and expenditure & assets and liabilies with respect to tha returns filed u/s 139 earlier or we can alter?

What is the position if the earlier years the assessee was liable for tax audit? Can we alter those returns also? what may be the consquences if we alter now

WHAT ARE THE EXEMPTIONS / RELIEFS TO THE HOSPITAL PROJECTS AT PRESENT UNDER INCOME TAX AND AS SSI UNIT.

Dear Sir

dr Asst Year 2008-09 There is Loss of Rs.26,06,327 dr this Asst Year i.e 2009-10 also there is loss. While entering ITR-4 I have not entered the details of B/w loss from previous years.This is a 44AF case What have to do now whether I have to file revised return or not. If I have not file the revised return what will be the Consiquences kindly let me Know

If Assesee is under Audit in F.Y.2006-2007 not in F.Y. 2007-2008 & Covered in F.Y. 2008-2009. The Assesee is deducted TDS in F.Y. 2006-07 not in F.Y. 2007-2008. Then Wheather he has to Ded. TDS in F.Y. 2008-2009

Explaination to subtraction 115 JB allows booked Profit to be Reduced by the amount as per clause (V), amount of brought forward loss or unabsorbed Depreciation whichever is less as per Books of Account.

In F Y 2006-07 company has
Loss before Depreciation Rs.60 lacs(i.e.before CY Dep.Rs.40 lacs & before Prior period depreciation as stated below Rs.70 lacs),
Current year Depreciation:Rs. 40 lacs,
Prior period Depreciation due to change in method from WDV to SLM credited to P & L a/c:Rs. 70 lacs.

What will be the Status of Reduction/adjustments allowable under clause (v) if i am working for 115jb in A.Y.2009-2010 where company has a book profit ?
whether Book Profit for A.Y. 2009-201 should be increased by net amount of depreciation credited by Rs.30 lacs?