Dear Frnds,
pl answer me that
Scrap Mat. Value 100/-
Excise Duty 16/-
VAT 5/-
whether TCS rate 1.03% will be applied on
116/- or 121/-
That is rate will be applied on including of VAT or ....

Suppose a person who has income but that is below threshold limit & he is not liable to pay any taxes. If he files the return after due date ( 31st july for individual) it will attract any interest or penalties or it will do.

most of the services like rent,commission,advt are liable to T.D.S and service tax also govt is coollecting tax on both the way .why the method has been followed ?same is in case of F B T.?if any one support this coment.pls reply friends.

Dear friends

I have one doubt abt the treatment of commercial loan. My friend taken a commercial loan for constructing his commercial building. He get an rental income from that building, my doubt is whether that loan can be treated in total income like housing loan....

I tell him that this commercial loan was not deductible but he was not agree with me.

Kindly suggest the answer...? urgent........

What is the meaning of diversion of income in brief but it should include all details?

Which Act govern the Contribution to superannuation fund?
Whatis the eligibilty in terms of number of years of employment in that company?

sir,
pls clarify me whether Fix deposit for 5years from the Post Office is eligible for deduction under 80C for the asses,ent year 2009-10.If yes On whose name this FD should be?I mean can it be on wife's name or minor daughter's name.

thanks

sanjeev sharma

Hi,

I have deducted and paid excess TDS on debenture interest for FY 2007-08. Is there any way to set it off against any other TDS payments pending, because TDS on Auditor's fees is still pending, can i setoff the excess TDS paid for debenture against TDS payable for Auditors for FY 2007-08.

Please tell me under which section it can be done and how do i show under Form 16A

my question realtes to PAYMENT UNDER SEC 40 A(3).when purchase is made from cultivators who are numerous in number and purchase is made under credit .in that case how to show purchase entry by not entering all names as it is quite in numbers for each day.

like wise payment to them is also in cash as they are having no bank account .so does sec 40 A(3) attracts as payment is after some days not at the time of purchase. and how to show payment made to them.

Dear Sir,

My friend is getting LTA @1250 pm, is this wholly exempted or taxable. Pls let me know the calculation of exemption and as he has already paid 40K as IT for march 08 as deducted by his employer. Now while preparing his computation, he found that tax to be paid is 15K more. So if he files IT as on 31st july 08 within duedate and pays 15K also, then also is he liable to pay any interest or penalty. pls suggest