X and Y are two brothers both getting salary income after deduction of TDS. Y transfers his income of Rs 30000 to his bro X's bank a/c. X invest this sum in mutual funds and also give as a loan. Is this transfer of money from X to Y valid? Who is liable to tax?

Mrs X transfers a sum of Rs 8 lakh to her daughter-in-law without any consideration and this sum is given on loan by daughter-in-law to a third party, whether Mrs X or her dauhter-in-law chargeable to tax? IF yes , then by what amount? Can it be treated as gift from relative and so no tax liability ?

When we talk about investment(u/s 80c) that has limit upto 1,00,000 which includes no of investments.

(A)I heard that Investment under pension scheme has a limit of Rs. 10,000/-. Is this true?

(B) Is tuition fee restricted upto 24000/- or having no such kind of limit.

Kindly answer to my this query.

COMPANY HAVING INCOME FORM ITS ASSOCIATES COMPANY (RENT SUBLETING RS 3000000AND PROF SERVICE TO ASSO RS 2800000 WHETHER 44AB APPLICABLE THERE IS NO OTHER INC)

RENT-SUBLETTING ITS OFFICE TO ITS ASSOCIATES
(Rent receive from subsidiary by sub-leasing its office)

Dear Sir,

An assessee purchase NSC VIII issue of Rs 25000 per year. What the accured interest on such investement shall be included in his income from other source?

Is MAT payable by a company showing loss in its Profit & Loss A/c. If yes then how it is calculated

Dear Sir,

What are the consequencies, if the person responsible for making TDS fails to submit the same before the commissioner of Income Tax with in the due date. Whall will be applicability of section 40(a)(ia) in this regard. Please clarify

Thanking you,

Yours faithfully,
V.N. Hari,
Chartered Accountant

If I make payment of commission to any foreign party, in that case should I deduct the TDS, if yes, what would be the rates for that. Plz reply to my this query.

WE ARE A PSU & HAVING DTH CONNECTIONS FOR OUR EMPLOYEES.THE CONNECTIONE NEEDS TO BE RENEWED BY PAYING THE SUBSCRIPTION CHARGES TO DTH SERVICE PROVIDER .
PLEASE CLARIFY IF THE TDS IS TO BE DEDUCTED FROM THE PAYMENT MADE TO DTH SERVICE PROVIDE ? IF YES ,WHAT RATE SHOULD BE APPLICALE?

if anymy frind plaese provided me new rate of tds.