1)LIC commission received by agent is exempt under which section

2)Explain whether the TDS to be deducted on the amount including service tax or on excluding service tax?

Should all PAN No Holders Efile return compulsorily in spite of their Taxable Income for AY 2008-09 less than 110000/=

As per CBDT Circular No tds has to be deducted on service tax on rent paid. because service tax is not a income of the person who is receiving rent.

If this is the case then how the tds can be recovered on service tax charged on contract, Professional fees, commission etc., In these case also the person is acting as agent of government.

The person is collecting service tax from the clients and paying to the government just like rent. Service tax is not a income of the person.

I think this decision should be challege in court and there should rule that tds should not be charged on service tax of all categories.

Section 23(4) speaks of notional rent / deemed to be let out property. i already own a house property say at Flat no. A and the after 3 year i purchase adjuscant property at Flat no. B and at the same time i join the two flats due to my require ment. Now there are no two residential units. its only one unit.

so do i still need to offer one as deemed to be let out...

Please advise on TDS rate at which it should be deducted.

commission is given to Foreign entity for Hotel business. Entities is located at USA and UK at what rate TDS should be deducted.

And in DTAA under which head to look for the Hotel commission to be paid.

Whether is it Profit shareing or commission.

hi.........

well just wanna know that whether Efiling for Individual assessees is compulsory for AY 2008-09

Can anyone please tell whether there is any regulation relating to creation of provision for bad debts in Income Tax Act. If so, also tell whether any rates have been suggested in the Act.

Regards,
Bhavadharani

Dear Sir
My grand father-in-law (reitred from Ashok leyland) had land at oragadum, chennai and this land TN govt has taken for sipcot development. The Govt deducted Rs.15000/= (fifteen thousand) from the total land value of Rs.1,50,000/= (one lac fifty thousand).

My father in-law has not filled any income tax returns during his service since his income was below the taxable income.

Under the above situation, how to claim the TDS of Rs.15,000/= (tds certificate is reced.) At present he do not have any source of income and he has only daughter who got married to me.

With best regards

B Ramu

can additional depreciation be claimed on a new asset if the new asset is there on the last day of f. y. but the value of block of assets stand nill on the day.

How to calculate interest u/s 234A,234B & 234C?