hello, in the income tax act in terms of person there is a mention of "Local Authorities" . does it mean only municipal corporations or does it include other institutions?

one of the conditions of sec 10B is repartriation of sale proceeds to india in 6 months. but in case of a indian subsidiary(software developers) who transfers all the software developed to its foreign parent company who in turn sells it to outsiders, there wont be any repartriation of sale proceeds. in this case will sec 10B apply here.
the subsidiary company gets money from parent company towards expenditure
secondly is it correct to book income by applying transfer price methods

HI VINIT,

BUT MY QUESTION WAS SINCE THE PROFESSIONAL IS RENDERIN PROFESSIONAL SERVICES BUT THE WORK WHICH I GAVE WAS ON CONTRACT JOB.
THEN IF IT WILL NOT 194J BECAUSE AMOUNT GIVEN TO HIM MIGHT BE FALL UNDER PROFESSIONAL SERVICES RENDERED


SIMA

A Firm consist of 2 partner. one is working partner & another is sleeping partner. The firm turnover is 50Lakhs.

The due date of working partner of firm to file a return is due date of firm ie.30th sep

what about due date of sleeping partner of firm to file a return. Whether it is due date of firm or individual? give the supporting also.

suppose an MR. A has commission income in P.Y 2005-2006 and his TDS has not been deducted by ABC LTD ,then resultantly commission expense will be disallowed to ABC LTD for the P.Y 2005-2006 And same will be allowed in the previous year when he deduct TDS and deposit it into the credit of central govt.(SUPPOSE ABC LTD DEDUCTED TDS IN PY 2008-2009)
Now my question is that can MR.A claim TDS in the subsequent previous year(i.e P.Y 2008-2009) he got TDS certificate from ABC LTD.(Mr. A had already filed his return u/s 139(1) FOR P.Y 2005-2006 AND FOR YEAR 2006-2007 AND P.Y 2007-2008)
PLEASE NOTE THAT REVISION U/S 139(5) IS TIME BARRED NOW.

can anybody answer
if some contract work is given to professionals or technical person then tds under which section to be deducted is it 194j or 194c

TO
mr ramesh ahuja
Iam apreciating your answer but still i want to ask:
wheather it is not necessary that tds return should be issued at pan card address irrespective of bill address.
suppose on bill correspondence address is written and pan card has been obtained in corporate address.
then what will be the cikrcumstances

My Client sold a shop building in the year 2001 which was earlier used for business & dep. was claimed accordingly. The gain of Rs 50000 from sale of shop was adjusted against the cost of rs 3 Lacs paid for new commercial property purchased in the same year. The new property has never been used in business & no depreciation has been charged till date. Now the new asset has been sold on 30.06.2008 & a surplus of Rs. 5 lacs has been generated. Plz tell me whether the same is Short Term or Long Term ?

Can refund of TDS be claimed? The excess amount has arisen because the assessee didnt have the minimum no. of PANs for e- filing , which was compulsory. The company deducted TDS on all payments made in the nature of contract, whether TDS is attracted or not. Now the excess payment is to be claimed as refund. And the TDS deducted will be paid to the respective deductees, who dont attract TDS. What should be done for the paymentas made through challans?

WHAT DOES WINDFALL PROFIT TAX ACTUALY MEAN??????


HAS IT BEEN IMPOSED ON ANY CO/SECTOR IN INDIA????