Distinguish between basic salary and basic pay in respect of Income tax Act, 1961.

Ours is a partnership firm. We have taken Loan from financeal Co. for Commercial Vehicle. We have already paid all instalment in time. As per our Chartered Accountant's Consent We have also paid TDS on interest. Now i know that TDS shound not paid on Financal Charges it is covered u/s 197.

So my question is that in the financeal year 2007-08 we have paid TDS which i want to take refund. What is procedure for this?

What are the benifits of converting a proprietorship into a Company or in which cases it would be benificial? What are the advantages which only a Company has and not a proprietorship?

if some asset is purchased n capitalised n then creditor by mistake does nt deposit cheque n forgets to recover d money what will b treatment wrt SEC 41 wherein depreciation is claimed...how much income will be recognised

A Foreign National provides services in India, Whether TDS is applicable on this. If Yes, then Under which section? Also confirm whether it is necessary for the above person to apply for PAN in India?

I have some investment in ELSS schemes under dividend reinvestment plan.
Can i claim benefit for reinvested dividend under sec.80C.
MY company has disallowed the same in my TDS as per advise they received.

A Partnership firm revalued its land. The difference between the revalued amount and the cost as per books of accounts were credited to the capital account of the partners. Subsequently two more partners were admitted into the partnership and the old partners withdrew the entire capital and retired from the partnership. The partnership firm continued as a going concern with the two newly introduced partners.
Whether this transaction results in any income tax liability for the partnership firm as well as for the retired partners.

what is the procedure of capitalisation . As i am in pharma industry and production is alread started . now we have to capitalise our machinery and all. so what are the steps and guidelines to do that . please help ?

we have received an assessment order u/s. 144, in which AO made an addition and raise demand. what to do now ?. thanx

X is a salaried employee earning 15 lakhs per year.

what are the total amounts that can be saved or invested under all sections from 80 c to home loans and fixed deposits in banks (for 5 years) and other provisions if any

m a padmanabhan