One of my clent had opened a Drug store in a hospital on a condition that the hospital will be paid 50% of the net profit as per audited P& l A/c.What is T.D.S. Liability of the client and under what section it will be deducted 194I or 194C.And also Profit can be ascertained only after 31 st March.So when to deduct the TDS -on 31st March itself and to deposit it by 31 st May or whenever some payment is made to Hospital during the year.

One of my clent had opened a Drug store in a hospital on a condition that the hospital will be paid 50% of the net profit as per audited P& l A/c.What is T.D.S. Liability of the client and under what section it will be deducted 194I or 194C.And also Profit can be ascertained only after 31 st March.So when to deduct the TDS -on 31st March itself and to deposit it by 31 st May or whenever some payment is made to Hospital during the year.

One of my clent had opened a Drug store in a hospital on a condition that the hospital will be paid 50% of the net profit as per audited P& l A/c.What is T.D.S. Liability of the client and under what section it will be deducted 194I or 194C.And also Profit can be ascertained only after 31 st March.So when to deduct the TDS -on 31st March itself and to deposit it by 31 st May or whenever some payment is made to Hospital during the year.

My brother is residing in USA and doing Job there. He send Rs. 2 lacs and the same is directly deposited in my savings Bank Account in India.
Is this amount is taxable in my hand?
Can i treat the same as Gift in my file?
He regularly send me the money.He is paying tax there on his earning.

Hi all,

Suppose rent is to be paid in the joint name of X&Y as per agreement. Therefore, cheque will be issued in favour of X&Y after deducting TDS on Rent. The TDS return has already been filled taking PAN of X only. Now, I have the following questions-
1. Whether both X& Y are ellibigle for Form 16A or not?
2. Whether only X is entitled to get Form 16A?
3. Can Form 16A be issued to X mentioning PANs of both X&Y in a single Form?
Please reply.

Is the expenditure recorded in books of the company at the thime of grant of options (Market Price - Exercise Price)is a tax deductible expenditure ?

If yes then at wht point of time

1. At the time of grant or
2. At the time of exercise of options?

If no, then is there any CBDT circular , ITAT ruling to that effect? Pls give details / refernce.

Dear Friends


TDS on salary for the month was not paid in due date what was the penalty


pls reply urgently

Hi friend,
i would like to know whether interest received on incometax refund is taxable or not? if it is taxable under which head it is taxable ie under business or profession(in case of partner ship firm) or taxable under other sources.
Please reply
Thank U

respected sir
at present in gwalior income tax office the submission of income tax returns are made in the form of taking original form16a , form16 , tds certificate.as from the date of 01/04/2008 from the assesment year 2008-09
sir i want to know the new act passed by the CBDT NOTICE CLARIFICATION
IS THAT NEWS IS CORRECT OR NOT
IF THIS NEWS IS CORRECT PLEASE FURNISH ME OR EMAIL ME AT MY E MAIL ADDRESS WHICH ARE AS UNDER:
umashankar_ca4u@yahoo.co.in
reply..........reply...............reply.......................reply.....................reply
thanking you!
umashankar vaishnav
C.A. FINAL ( STUDENT )

Recentaly a circular is isuued on Tds not to be deducted on Service Tax u/s 194I.

Can this is also applicable for sec u/s 194J or 194C?