I NEED TO KNOW WHETHER TDS IS APPICABLE ON INTEREST ON HIRE PURCHASE OF CAR. INTEREST IS PAID TO CHOLAMANDALAM FINANCE PVT LTD.PLEASE QUOTE ME THE SECTION OR CIRCULAR REFERENCE IN THIS REGARD.

My Employer is a Public Ltd. company enagaged in pre-construction stage activity to set up a power plant. An opinoin was taken from the consultant on the issue of applicability of FBT. It has advised that company is doing activity of construction stage, and no business activity is being done. hnce, Company would not be liable to pay FBT.

Kindly advice , whether we are liable for FBT or not.

what is the limit of cash expenditure in day as per income tax act.

pl.explain in detail

Dear sirs,

Can any one help me in solving the problem.The problem is as follows:

Indians working in the foreign locations drawing salaries both in foreign locations and India. The pay stucture is subjected to income tax in the respective foreign locations. But the actual problem is here..
Does Salary (in this context referred as NSP-Net Saving Potential) paid in India to the employees working in foreign locations is subjected to TDS?
If yes, please mention the provisions of the Income tax act.

Can unabsorbed Depriciation be written off with Salary income as it is not considered as Business Loss?
and is it allowed to be carried forward for indefinite period of time?

Can a company book expenses in current yar against bill which relates to previous yr and also dated to previous year but not booked in that year?

CAn,t th loss for one horse race be set off against income from another race horse that took place in diff. city?
say for e.g.
Income from horse races in Delhi(Gross)- Rs.40000,,,
and Loss from Race horse in Banglore- Rs.21,000..
Can they be set off or not?
and if not why so?

pls if any1 who have this, pls mail me to

kedar.divekar@rediffmail.com, ASAP

Is TDS to be deducted on finance charges ie on interest paid on the loan amount

hai, friends let me know the recent case laws on "for imposition of penalty u/s 271(1)(a) mens rea has to be established"