Dear Sir,

Suppose this is a Security Bill.
Amount Rs 21000
Service Tax Rs 3000
Total Rs 24000
How to deduct TDS u/s 194(c).Is it tds is to be deducted on Rs 21000 or Rs24000.Here Service Tax element is taken in to consideration or not?

Regards

That the dealer has partnership firm and it has deposited advance tax Rs: 15000/- on firm PAN. Now when we are try to upload e - return then error show that this file is not be upload, reason 4th digit of PAN is 'H' insted of 'F'. That
the assessee has reciept of pan applied application on which shown the attached document ( Poto copy of Partnership deed)
The firm books are also audited for the A.Y :
2008-2009. So what should be do ?

what is the deferred income tax why we create it what is the procedure . in a balance sheet we write sometimes in assets side & sometimes in liabilities side why give me reasons

I had misplaced my Advance Tax paid challan.My Payee Bank,Bank Of India refuses
to issue certificate of payment inspite of
my submitting xrox copy of Cancelled cheque
of payment.
My I.Tax office can not acess the TIN facilty.Filed Tax return with Xrox Copy of cancelled cheque and print out of Payment from my TIN account.
Any other proof needed?

If due date of Tds payment falls on sunday.Can we pay on next working day or should we pay before due date?please clarify.I think that it can be paid on next day and not before.

how we can verify the pan of our contractor, professionals & others. please send me the pan verification utility if someone have.
we know the one procedure from income tax site pls tell the other way.

hi everybady
i am here trying to know the income tax rates for the a.y. 2008-09 for all tha assessees.
help me if you can
thank you

A partnership firm has a taxable short-term capital gain of Rs.100,000 during AY2008-09. The firm shows a sale of asset on 31.03.2008 to one of the partners: W.D.V. of the block of asset Rs.300,000 and sale price of part of the asset Rs. 50,000. The block of asset exists. The firm sets off the short-term capital gain of Rs.100,000 with the short-term capital loss Rs.250,000. The sale transaction is not a mere book entry because the firm has received the payment from the partner which is also reflected in the bank statement. Is this Tax Evasion or Tax Planning?

Answer: No Question of STCL if the block still exists.

author : Amar
Posted On : 8/29/2008 12:42:43 PM
Tell me the provisions of Income Tax Act regarding set-off of carried-forward losses E.g. in the year in which loss under the head House Property is incurred it can be set-off against any head but after it has been carried forward, it can only be set-off against Income from house Property.


Answer: Yes U r Correct.

author : deepak garg
Posted On : 8/29/2008 12:05:34 PM
Hello,
Everybody , can Friends u tell me what are the provisions are relateds regarding Int. Rev. From FD and Sum Recived on Maturity of LIC Thanks In Advance

Expert : CA Hemant T Dewani
Posted On : 8/29/2008 12:31:13 PM
if interest received on fd is taken on accrual basis then it is taxable on those years when you are declared your income othere wise it is taxable wneh you are receved cash
lic matured is not taxable it is exempt u/s 10 of the act



Expert : Mohit Vats
Posted On : 8/29/2008 2:39:06 PM
Mr. Hemant,

LIC maturity amount is taxable if the person who take the policy get the amount...
But in case the LIC paid the amount of insurance that is not taxable....

Member View are open.....

Expert : SANDEEP AGGARWAL
Posted On : 8/29/2008 4:46:53 PM
LIC MATURITY AMOUNT IS NOT TAXABLE IT IS EXEMPT. ONLY IN CASE OF PENSION FUND PENSION AMOUNT IS TAXABLE

REGARDS,
SANDEEP AGGARWAL

Correct Answer:

Proceeds From LIC Are Exempt Under Sec.10(10)(d) except in three cases illustrated below:

1.If Amount is received on a keyman insurance policy.
2.if amount is received from a pension policy.
3.if premium paid is more than 20% of sum assured in any year.