Dear Sir

While registering the assessee's PAN , it is very difficult to give the fist name, middle name & surname correctly. Whether there is any solutions to overcome this problem ?. If yes, please inform me.

Thanking you

Satheesh

We buy boats . . Average life of the boats is 2 to 3 years. . We import that specially for sporting purpose . .
Boats are not usefull after 6 months for any championship tournaments. .
We can use that only for training purposes . .
That too cannot be used for practising for tournamets. .
We import every year . With concession of customs through yatching association of india . .
We are a registered society
Our bylaws silent about capitalization
Why cannot i take buying of boats as revenue expenditure
Depreciation rate prescribed by income tax department is not in logic
Please somebody solve this with reference
Whoever answers keep this as open query

We buy boats . . Average life of the boats is 2 to 3 years. . We import that specially for sporting purpose . .
Boats are not usefull after 6 months for any championship tournaments. .
We can use that only for training purposes . .
That too cannot be used for practising for tournamets. .
We import every year . With concession of customs through yatching association of india . .
We are a registered society
Our bylaws silent about capitalization
Why cannot i take buying of boats as revenue expenditure
Depreciation rate prescribed by income tax department is not in logic
Please somebody solve this with reference
Whoever answers keep this as open query

A PERSON BY NAME LAL HAS AN BUNGALOW (HOUSE PROPERTY) FOR WHICH HE ENTERS INTO AN AGREEMENT (PROMOTER DEVLOPER AGREEMENT) WITH AN BUILDER TO CONSTRUCT FLATS .CONDITIONS ARE

VALUED ABOUT(RS.IN LAKHS)
1. TWO FLATS TO BE GIVEN TO LAL 100
2. TWO FLATS TO BE RETAINED BY PROMOTER 80
3. CASH TO LAL ON HANDING OVER PROPERTY 30

DATE OF HANDING OVER THE POSSESSION OF HOUSE PROPERTY
TO BUILDER : 25.3.2008

PROBABLE DATE OF COMPLETION: 1.6.2009

PLEASE ADIVSE ON TAXABILITY IN HANDS OF BUYER

Is TDS applicable for payments to Air Ticket Booking Agencies?
Ifyes, TDS to be deducted as per sec194C?

Answer: TDS Is To Be Deducted.

I AM NEWLY JOINED THIS ORGANISATION WHICH IS ENGAGED IN MARKETING ACTIVITIES, AGENT FOR INTERNATIONAL SCIENTIFIC RESEARCH INSTRUMENTS, AND HAS MARKETING AND SERVICE STAFF OF AROUND 10 PEOPLE, WHO WILL BE TRAVELLING MOST OF THE TIME ALL OVER INDIA, AND ALSO FOR TRAINING BOTH IMPARTING AND GETTING FROM PRINCIPALS AND TO CUSTOMERS, ALL OUR CUSTOMERS ARE ONLY DOMESTIC, AND PRINCIPALS INTERNATIONAL. WE HAVE EXPENSES LIKE TRAVEL-DOMESTIC, INTERNATIONAL, LODGING, CONVEYANCE, FOOD EXPENSES ETC., REIMBURSEMENT. SINCE WE GET REIMBURSEMENT BILLS FROM OUR STAFF IN TOUR EXPENSES FORMAT. I WANT HOW THESE EXPENSES ARE TREATED IN TERMS OF CALCULATION OF FBT. WHETHER ANY FBT APPLIES FOR THESE EXPENSES, IF SO, HOW WE HAVE TO CALCULATE FOLLOWING RULES AND REGULATIONS OF FBT, PLEASE GUIDE ME,

Hi Dear all

I want to know whether Fixed assets w/off is allowable exp. under the income tax act or not.
Where gross block of assets still exist but sum assets are being w/off due to closure of particular units of the co.

Thanks & Best Regards

Gopaal
RSH

The Partnership Firm is disolved in the month of June 2007 and the proprietory firm has continued the business that is the remaining only partner has. the question is depreciation is allowable how? that is for first 3 months will be considered as less than 180 days as per law and dep allowable 50% of the rate and for 9 months consider as more than 180 days however in total not more than 100 % dep rate in both the part that is in the hand of PF and in the hand of Prop. firm subsequently. so my mean to say depreciation is allowable 50%50% in PF and In Prop. firm during the year or other view? please guide me urgently.

For Example for removal of doubt in quary
WDV on 1.4.2007 in the hand PF 10000
Less: Dep 7.5% for period
1.4.2007 to 30.6.2007 till date 750
of Frim Disolved
WDV on 30.6.2007 9250
Dep For 1.7.2007 to 31.3.2008 750
in the hand of Prop. firm or 644

ie., 7.5.% of 9250
please guide

At what rate TDS will be charged on Salary and what should be the minimum Salary?

Is there any penalty, if you submit a ITR (return) without signing it?
If yes, then of how much amount.
If no, then what will it be?