dear sir,
please guide me on the follwing:
in case of a loan having an outstanding balance of rs.1 lakhs and interest is paid in cash . does it violate the provisions of sec 269t . is it necessary that intersst if credited to another account other than loan account,then there wont be violation coz it forms a seperate loan by itself.
thank u

dear sir,
please let me know for a.y 2008-09 there are cash payments in installments towards creditors totalling upto 95000. what is the position .
1)is it totally considered as income
2)does each payment need to exceedrs.20,000 or the total payments to a particular paymts.

what is the tax treatement of EMI paid by individual on his home loan in Income Tax.What is the amt allowable as deduction?

PLEASE EXPLAIN ME THE ADVANTAGES OF THE ITR FILED OF INCOME BELOW TAXABLE INCOME UNDER SEC 139(1).

A company manufacturing certain products also owned windmills. It put up an addl. windmill in the P.Y relevant to A.Y 2003-04. Electricity generated is both captively used by it and sold to Electricity Board. With increase in installed capacity of its manufactured products by more than 20% over last year, it claimed additional depreciation u/s 32(1)(iia) on all new eligible assets including windmill. A.O disallowed such claim on windmill for reasons below:

1) Electricity produced is not an “article or thing” as contemplated in Sec. 32(1)(iia)
2) Even if so, electricity has been captively used
3) There is no installed capacity for windmill.

Is A.O’s stand tenable?

Dear all,

I have a client who has engaged a business consultant & is paying professional fees after deducting TDS, however the client is also bearing the house rentals of Business Consultant(other than the professional fees)& is paying rentals to the landlord after deducting TDS.

what i want to know is that whether the business consultant would be liable for TDS liabilty for house rental liabilty met by client?

A Company has paid Rs 50,000 in cash for the purchase of Fixed Assest at a single time.

Whether such amount shall be added back to the profits of the company for the purpose of computation of Profits of the business.

If i haved Filed An E Return, So should i get my acknowledgement stamped with the same IT ward , with whom i had previously done that or I can get it stamped from any IT Ward.
Other Question is Suppose i have my PAN Card which i have made in mumbai, Can I get my acknowledgement stamped from an IT Ward in banglore.

As per sec 139(3)if i wnt to carry forward my loss i hv to file my return under the limits specified under sec139(1)ie for individual who doesnt need to audit the limit is 31st July.
As per sec 139(5)i can file a revised return within 1 year of asst year.

My Question is , If before 31st july i have filed a return having income,
then can i u/s139(5)file a revised return stating loss .
Is there any case law regarding this

The company in which i worked till July 07, is not giving me form 16. They have deducted mt Tax of 5718 from my salary. They have given me the reason fro non issue of PAN in time.
But there is no such provison in IT Act , that Form 16 will not be issued if PAN not given.

Anybody can guide me!! I have told them to read Section 203 of IT Act.

What action I take if they refuses to give Form 16..

Sai