Whether hiring of car(Tata Sumo)/bus will atribute Sec-194C or Sec-194I(Rent on Plant & Machinery)in case of
1.hiring on monthly basis?
2.hiring on daily basis?

X Ltd had paid professional fee to a Y Ltd (HR Outsourcing company) Rs 84 lacks in financial year 2006-07. TDS was not deducted U/s 194J when these payments were made.

Due to the above the expense of Rs 84 laks will be disallowed in the books of X Ltd U/s 40(a).

X Ltd is planning to pay TDS on Rs 84 lacks in the financial year 2008-09. Will the expense be allowed as deduction for the financial year 2008-09 ?

Assuming X Ltd pay TDS on Rs 84 lacks and issues TDS certificate to Y Ltd; Can Y Ltd claim credit for TDS paid on its behalf in financial year 2008-09 ? (Pls note Y Ltd has paid Income tax on its income in financial year 2006-07 ).

Dear Friends,

Please clarify the following

1. After the completion of block assessment how do we treat the undisclosed income - for
a) partnership firm
b) Private ltd company
Also suggest how the accounting entries for that.

2. In the block assessment , can we set off the unexplained credits with unexplained debits during the block period?

What Is Income Tax

Whether a company shall deduct TDS in respect of commission payble for Export sales for duties perfomed by the foreign resident outside india? The foreign commsion the company is paying is in convertible foreign exchange & services are executed outside india for sales.

A Private Limited Company give a helper allowance to Director.
In case of Director helper allowance is taxable or not if taxable what is the limit of amount

WHETHER DAILY POOJA EXPENSES COMES UNDER FBT OR NOT BY A COMPANY

Husband's(H) gross income is higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H). H opens FD with bank & invests remaining part of that money in stock markets on his name. Bank deducted TDS with H PAN and all transancation done in stock market are with H PAN.

As the money given by W to H is gift & the money was earned by W with her professional skills, doesn't the section 54 income tax clubbing rule apply here? If yes, then W may be responsible for income tax on invested income. Please note that H's individual gross income is higher than W's individual gross income.

WHETHER INTERNET CHARGES FOR A MFG COMPANY INLUDED IN FBT OR NOT? IF INCLUDED UNDER SEC. 115WB(2)(A) OR 115WB(2)(J)?


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WHETHER HIRING CHARGES FOR VEHICLE INCLUDED IN FBT 115WB(2)(H)?.....PLS EXPLAIN ME