Hello friends,

I am stuck up with an issue whether TDS will be dedcuted on the advance paid to the sub contractors of the construction company ? Reply ASAP and when should TDS be deducted if contractor expenses pertaining to january are paid in march..to my knowledge TDS is to be deducted in the month of march only as the expns is ebing debited in the month of march, but what about TDS on advance given pertaining to the month of january, contractors are for work contracts

waiting for an early response, thanks in advance for your valueable suggestions.

This is with reference to sec36 of the income tax act,where an amount will be allowed as baddebt Provided it was offered for income earlier,my question is say I have a Particular asset used for the purpose of the business,its WDV value now is Rs.200000,I sell it for Rs.10 lakhs and hence i will gain Rs.800000,meanwhile what happens is the person to whom the asset is sold goes insolvent and thereby i loose Rs.10 lakh(Bad debt).Now as per Provisions of the income tax act, my income is Rs.800000 and my Baddebt is Rs.10 lakhs,can i cliam the baddebt of Rs.10 lakh even though my inome is only Rs.8 lakhs?if Yes,then the reason,(Particular reference to any case law,if any)

Whether an enterprise should deduct TDS on telephone bill consisting of rent, call charges and miscellaneous charges.

If so, under which section it will be covered and at what rate?

If not so, why?

Kindly help,
Regards,
Pankaj

Four school units are run U/single trust.The owner of bldg. of all four school is one Individual only.Each school is paying rent of Rs. 3000 p.m.(i.e. Rs. 36000 p.a.). Total rent together of four schools is Rs. 144000 which is more than the prescribed limit under section 194 I of income tax Act-1961. Whether each school is liable for deducting TDS on the rent (particularly in view of facts that the TRUST is the owner of all the four schools)? Please reply as early as possible.

when it is necessary to charge sec 234A, 234B, 234C

As per 115 JB, While calculating profits for MAT, c/f depreciation loss or c/f business loss whichever is lower should be reduced. It is also given that these are as per books of accounts.
Does that mean as per the profit and loss account or as per Income tax? Because how can we find the c/f depreciation lossess as per books of accounts? Usually we do not differentiate between business loss and depreciation loss in books of accounts. So how do we find it out.

Dear Experts,

Pls.tell me whether TDS is applicable on printing of various book,vouchers,visiting cards,envelopes,letter heads,etc.

If according to yours is yes then under what sections & also send me a circular if anybody have bec's one of our client is not agree to deduct the TDS they are demanding the circular.

Bill is inclusive of labour, matrial & VAT.On what amount TDS should be deducted? exclude the VAT or include the VAT.

Regards,
Prakash Jasani

prakashjasani_56@rediffmail.com

Two Agreement with the same party of less than Rs. 120000/- each (say Rs.119999/-each) would attract the liability to deduct the tax.

Sir,Madam
I want to know that why income tax act is not applicable in Jammu& Kashmir and at other places?

Dear Experts,

Pls.guide me which book is best for refer accounting standards in dtail with good example.& also for income tax & it is simple to understandable.

I need also guidance note for section 115JB with latest updation. & email id for amit bajaj.

Pls.sove my queries asap.

Regards,
Prakash Jasani

email id: prakashjasani_56@rediffmail.com