Dear Sir,

I have purchased a flat jointly and now I would like to claim deduction u/s 80C for Stamp duty and registration. I will get possesstion of flat in November 2010.

Can both of us take dedctuion u/s 80C in the FY 2009 -2010.


Kindly clarify and oblige.

Regards,

Vijay

Does the cases chosen for scruitiny under CASS are only those which come under compulsary scruitiny norms issued by CBDT or other cases can also be selected in CASS? I ask this because I have received several notices for scruitiny this year and none of them as far as I can judge have any point to cover them under mandatory scruitiny. I would be highly thankful if someone explains the system of selection under CASS.

Dear Sir

We are paying Rs.3000/- to our 4 employees against reimbursement of petrol expenses. It is a part of their salary. Before this budget we paid FBT on the same, but after the budget FBT is abolished. Then my query is that now we are not paying FBT on it, then is that reimbursement is taxable in the hands of employee? We need to deduct a TDS on it or not?
All employees are submitting petrol expense bills for reibursement every month.

Regards
Anil

During the previous year March 31,2009,Mohan a salaried employee(age 40 years)received Rs 3,00,000as Basic Salary and Rs 20,000as arrears of bonus of the Financial Year 1994-95.During the Previous Year 1994-95,Mohan has received Rs 50,000 as Salary. Mohan deposits Rs 2000(during 1995-94)and Rs 10,000(during 2008-09)in Provident Fund

Pls give me solution regarding this.

THANKS®ARDS.

GIRISH

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Pl help

X (Indian) company have an agreement with Y (foreign) enterprises for technical support. Now, X company want to pay technical fee. At what % the TDS Should be deducted. (AS per the IT ACt the agreement should be either as per industrial policy, or its should be approved by the central government.) how to check whether its as per industrial policy or not please give the details and suggestion.

An assesse defaulters with the bank having mortgaged property is auctioned by lender institution and has capital gain not realised but adjusted towards dues of the defaulter with lender. Taxability in the hands of defaulter assesse in view of the fact that consideration has not been realised to the assesse and no other source to pay taxes.

Hi All,

If a Company is a Section 10B Company (STPI Comapny) covered under MAT Section i.e. Sec 115JB, liable to Pay Tax @ 10.30% on it's Profits.
At what Rate should the Calculation of Interest u/s 234 C be done for Qualifying Amount on which Interest is to be Calculated.
For e.g. If Advance Tax Paid on or before June 15 is less Than 12% of (Tax on Total Income Declared in Return of Income Less Tax Deducted At Source)----Amount on which Interest is Payable is = 15%(Tax on Total Income Declared in Return of Income Less TDS Deducted Less Advance Tax Paid till June 15)
Now, for calculation Tax on Total Income Declared in Return Of Income -- Rate should Be Normal 30.90% or MAT Rate 10.30%?

Please advice.

Thanks
Mohit

I am a broker between manufacturer & buyer for certain restricted item, wherein the transportation cost is to be borne by me but the Invoice is raised in the name of the Consignee. The transportation charges are payable in CASH only.

Niether the manufacturer, buyer or transporter is ready to enter into a written agreement of any sort.

The commission is paid by the manufacturer through a/c payee cheque.

How should i record transportation cost in my books?

Clearing & Forwarding agent has given a bill where expenses incurred by him & his service charges are mentioned. He has given the bills of parties for Expenses incurred on behalf of company attached with the combined bill .Now tds should be deducted on whole bill amount or only his service amt. Please reply .