I M GETTING PROBLEM FOR PAYMENT ONLINE AS NSDL SITE IS JAAM. MY QUERY IS DO I MAKE PAYMENT BY CHEQUE FOR THIS MONTH AS THIS IS YEAR END DO I WILL GET PENALTY IF I MAKE PAYMENT BY CHEQUE. PLEASE REPLY URGENT

A payment of 200000Rs is made to a software developers for ERP implimentation in a company. Under which head it would come for TDS-whether contractor or Professional?

Hi to all

I need to confirm that an assessee gets HRA frim his employer and he also pay the housing loan int and principal to the concerned bank/institution, wheteher he get s the deduction u/s 10(14) and also the deduction for int. paid on housing loan u/s 24(b)
Thanks
Regards
CA.Sanjeev Sharma

will it be heplful for the assessee to claim interest on house property without actually paying it ?

Sir
i want a format of Desolution Deed. Can anyone inform me from where i will got format of deed?

Thanks

1.A individual sells his ag lands which is not a capital asset as per section 2 of IT act.It complies with the conditions of section 2 in all respects.

2.The nearby area has developed into SEZ and there is a huge appreciation for the land.

3.It is sold to a developer who is proposing township.

4.The view of the IT dept is it has lost the character of agri land and no prudent person will pay such a huge price for agri land and hence it is taxable.

5.pl resolve this and if possible support with case laws.

As per the Income-tax Act, 1961 FBT paid on ESOP's can be recovered by the employer from the employee. The same would not be taxable in the hands of employer

I'm of the view, that the recovery of FBT on other fringe benefits should also be not taxable in the hands of the employer on the following grounds:

1) FBT is not an allowable expenditure for the purpose of computation of the business income.
So, when an expenditure is not allowable for the purpose of computation of business income anything recovered towards the same should not be taxable.

2) Moreover the FBT recovered from the employee would not be treated as tax paid by him for computation of his tax liability.

Kindly give your opinion on the above.

Hallo
I have filed a return for A Y 07-08 with tax Tax payment But unfortunatly I have assumed Standerd Deduction of Rs 110000 instead of Rs 100000 so tax liablity should increase by 1000.
I have filled return on 31st march 2008

So what will happen now/What should I do now
1] Revised retun is not possible because filled on 31st march?
2]Pay Tax with penalty ie 1000+2%+penalty ?
3] wait for notice?
4] any other way?

Please suggest
Thanks
Omkar

i want to file for income tax returns.im not a salaried person, but self employed.so i keep getting cheques,but all my cheques have a tds cut.so pls help what do i do?

Hello Sir,

One of my client taken a loan from ICICI bank Rs 500000/- and they are under an obligation to repay the same on monthly basis.

Can You please explain the legal requirement as per section 269SS and 269T of Income Tax Act 1961?


Thanks in Advance!!!