Sir,

Iam working in a Ayurvedic Hospital. We bought a camera in Hospital A/c for Rs.25000/-. I want to know the Depreciation rate for taking in Balance sheet.

Thanking you,

As per Return of Income filed by the assessee (Approx):
Income Tax 7,50,000
Interest U/s 234A;B & C 2,50,000
Total Tax U/s 140A 10,00,000

Return Processed by the Assessing Officer:
Income Tax 15,00,000
Interest U/s 234A;B & C 3,00,000
Total Tax 18,00,000

my question is how to adjust the tax & interest i., Rs. 7,50,000/- & Rs. 2,50,000/- how to adjust againest liability of Rs. 18,00,000/-.
Any notification/clarification in this regard.

Regards
Suresh

can u plz tell me..
is it necessary to give a hard copy of Quarterly return of TDS along with Computer Media.

If the house property is in the name of A and the housing loan is applied for in the name of both A and B, whereas the payment is in actuality made by B only.
How will this be treated. Will A be able to claim a deduction u/s 24 if she makes the same payment to B in cash ?

Hi,

For a salaried person if the income from salary is 11.5 lakh, loss due to interest for house property is 1 lakh and she has done 80C investment upto 1 lakh (i.e., taxable income is 11.5 -1-1=9.5).

Is she liable to surcharge applicable for income above Rs10 lakh?

Thanks in advacen for your resolution.

Dear Sir,

Our Company is a Trading Company I.E we get Commission on Sale of Machineries by the Korean Company to Indian Company and our Company act as an agent for Marketing of Korean Company for the sale of there machineries to Indian Company

Exhibition are held in India Machineries are kept in the Exhibition for sale.

My query is that Our Company First Pays the Expenses Incurred on our Korean Counterparts such as Travelling TKTS and Boarding and Lodging Later on we raise a Debit note on our Korean Counterpart and we get the reimbursement for the same
Is FBT is applicable on this reimbursement since there is no employer and employee relationship

Please suggest

Regards

Ravi Konda

If FBT of the previous year i.e.AY2007-08 is not paid till then what is the consequence to file return for this year.

Dear Sir,

Suppose a Person who travels Frequently in to another city For Example Bangalore and he is Hiring a Car from the Local Tours and Travels in that City for Visting and Entertaining the Customers.
IF the total amount of bills for the year goes above Rs 50000/- of the Tours and Travels for Car Hire Charges Since we dont have any contract between Tours and Travel Co and ouselfs Than also Can I deduct TDS on Car Hire Charges U/S 194C Or Should not

Please Suggest

Regards

Ravi Konda

IF any person going to abroad for client site project the amount which we pay to him as Food and daily allowance is Taxable however the all expenditure which we incurred on him is charge to the client.

Reg
Mint

Can we invest in LIC/eligible MF/FD/NSC for Rs. 1 lacs for deduction u/s 80C by taking a loan?

Is interst payable on this loan is allowable expenses against interst income or salary income (If no business income)