Dear All

Please let me know, what is the deffered tax assets/liability, and what is the calculation.

1) Indian co is having 100% subsidiary in china

2) Indian company sells goods mfg by it to subsidiary as well as other parties in china

3) The goods sold to subsidiary are different from goods sold to other parties.

4)There is no other competitor in india
Who mfg, the kind of products mfg by indian co.

5)There are some international competitors who mfg this kind of product outside india but sell in china

What appropriate method should be adopted to satisfy that the transacion between subsidiary & holding are at arm's length price.

Hi All,

What is deferred tax Assets/Liabilities. And what is Meaning of "Time Difference" word used at the time of calculating Deferred Tax. ????

the asessee has incured loss besause the business activity was not carried on in the py. and expences has being incured also can depriciation can be charged is their is no business activity is being carried out . the ITO din't allowed that business losess to set of aginst income from other sourses and whole income from other sourse is taxed in ITO order

IN THE F Y 2007-08 MY PURCHASES IS RS 42 LAKHS AND SALES IS RS 39 LAKHS WHETHER I LIABLE TO GET TAX AUDIT OR NOT BECAUSE MY SALES/TURNOVER/GROSS RECEIPT IS LESS THAN 40 LAKHS IF ANY CASE LAW OR REFERRENCE BOOK FOR CASE LAW

We purchased material from Mr X, as per purchase order commited that reimburse the transportation charges by production of LR/RR/Transport copy. The problem here is the reimbursement claimer is not a transporter, he diducted TDS from transporter as per IT norms, here the problem is shell we diduct TDS on payment made by me to supplier. URGENT

Regds

B.V.K.Nageswara Rao
Ph: 099891 57666
Email: nageswararao.bommakanti@ril.com

Company has purchased 50 mobiles phones each costing around 2000/-.In this case I would like to know should they capitalize or treat as revenue expenditure.

Shri balaji multipurpose co.operative society has the following income 4 the year ending on 31 mar 07
1.rent received from H.P let out 4 residential purpose 20000
2.annual rental value of the house used by the society in its own business 10000
3.income from cr. Facilities to its members 40000
4.income from collective disposal of labour 20000
5.income from an industry located in back ward dist. Of category A commencing production since feb 03 90000.
P$L a\c of this industry has been dr. With the following exp.relating to the let out H.P (a) repair rs. 2500 (b)municipal tax rs. 2000 (c)fire insurance prem.rs.1200 (d)rent collection charges rs.500.
6.dividend: a.from an indian com.rs.8000 (b)received from another co operative society rs.6000
7.interest: (a)on fixed diposite with a co operative bank rs.4000(b) on listed debenture of a com.(gross)rs.4500
8.taxable income from letting godown for storing commmodities rs.10000.
The society donated rs.15000 to the central govt.for promoting family planning.
Compute total income n tax lia.of the society 4 the ass.yr.07-08.

Dear Sir,
Please tell me when a person is libale to deduct TDS with its limit for payment of different exps.

Dear Sir,

Sec- 194 -4 " TDS on interest other than Interet on Security" states that tax to be deducted while paying interest to resident. In such a case any interest (other than interst on security ) payable to NOn- resident is exempt from the ambit of TDS ?