Sir,

We have deducted excess amount of tds u/s 194A in 4th Quarter @ 22.66% instead of 20.60% on payment of Interest of Rs.1801738/ and excess tds deducted is Rs.37116/- , the same amoutn deposit with bank.

Now deductee has objected to excess amount of tax and ask for refund of excess amount. please advise us how we can adjust excess amount in other section 194C.

Wiating for reply.

Baljinder Singh

As per the clarification - now the TDS is to be deducted on only the Rent portion leaving the service tax, but this has given arise to a new querry to us i.e till now , we had a prastice of debiting the rent as well as service tax portion to the RENT ACCOUNT and we deducted TDS on the gross amount, but now as per new clarification, Service Tax portion has to be debited to which account? Because if we debited as we did earlier, the TDS amount shall not be justified. ( simple example - rent 12000/- service tax 1483/-, TDS to be deducted only on 12000/- , so now presentely , the RENT account to be debited by only 12000/-, then the amonut of service tax portion has to be debited to which account ?)
Thus we require your expert opinion to resolve the issue.

Ammendment - Sec 40(a) (ia)
CA Deepak Jain pl clerify if i entered journal entry in the books on 31/03/2008 this is also applicable or not

Hi

What is the last date for filing the Individual return for the Fy 2007-08

Dear Experts,

If the employer recover the FBT amount from Employee. Does it fall within the law.

If yes whether mentioning of FBT deduction in the salary Slip is Right or not?????

Regds/-
Anil Jain.

Is it possible to have Income Tax benefit under Section 10AA for the following activities in SEZ Unit?

A.Import and Re-Export of product.

B.Buying from DTA and exporting the Product.

Kindly explain in detail the relevant provisions.

Assessee purchased a new electric motor for supplying raw material to the machine inlieu of rewind of old motor. Rewinding is not possible for many times hence after 2-3 rewinding assessee has replaced it. As per my opinion it is revenue exp whether my contention is right? Please elaborate

Can someone guide me with relevant sec. or Rule, which date should be accept as the date of payment of TDS, whether cheque date or The date of clearing of cheque.


Thanks,
Abhishek

pls send me anyone tds challan 281.

Assesse paid salry of Rs. 3,00,000 to an employee.Employee status is resident in India and salary paid by employer through cheque in India without deducting TDS U/s 192.
Deduction is allowed to assesse for calculating his businee income for salry paid w/o deducting TDS u/s 192. If yes ,refer section and case law in this matter.