Nagendra Kumar
This Query has 6 replies

This Query has 6 replies

31 March 2008 at 12:02

Tax deduction at source

Is there any way to pay TDS without TAN number.we have applied for TAN number,but our application is under processed.But we have to pay TDS on this DAy for back logs


Nagendra Kumar
This Query has 4 replies

This Query has 4 replies

31 March 2008 at 10:33

very very urgent query

sir please tell me is there any way to pay TDS with out TAN number .the TDS amount is through out year and today is last day


M.R.KANNAN
This Query has 1 replies

This Query has 1 replies

30 March 2008 at 09:42

DEDUCTION U/S 80C

An assessee, an employee in a private concern, purchased in May, 07 a house property in his wife's name (for personal reasons, say future security). Property is let out. The wife is unemployed and has no source of income and is dependent on husband. Document of purchase is in the name of wife only. Loan is availed for the purchase and the loan a/c is in the names of both husband and wife, with wife's name as first obligant. Repayment of loan (monthly EMI) is made by husband only, with wife having no source of income.The assessee has not filed return so far and is filing return for the first time in FY 2007-08 (ie, A.Y 2008-09).

For deducting TDS u/s 192 for F.Y 2007-08, the employer is not considering housing loan repayment u/s 80C for the reason that property (document) is not standing in his name. Similarly, for the same reason, the employer is not considering housing loan interest u/s 24, though the assessee volunteered his rental income to be considered for TDS u/s 192 alongwith salary (the net income from property after interest is a loss).

Is employer's action justified? Please quote decisions / circulars / material, if any, to support assessee's claim.

The assessee cited "CIT v. AJIT KUMAR ROY [2001] 252 ITR 468 DATED 28.06.2001", which the employer ignored holding that the issue there is not TDS u/s 192. The wordings in CBDT Circular No. 8 of 2007 dt. 05.12.2007, cited to employer, are also such that it does not prohibit such a claim. The employer says that circular does not openly provide consideration of such a claim.

Though the assessee can get back the excess tax paid thro' tds as refund by filing return, he wants to avoid tds, since it has heavy impact on his take home pay now.

Please clarify.


Shyamjith
This Query has 4 replies

This Query has 4 replies

is medical reimbursment exemption upto Rs 15000 taxable under FBT....


CA S Sundararajan
This Query has 1 replies

This Query has 1 replies

Dear Sir,

One of my Client, willing to gift a money of INR in the form of Swiss franc to his Brother at Switzerland. What is the taxability of the amount remitted as foreign currency in India . Hope there is no DTAA between the Home country and receiver's country for Gift. Insuch acase , What is the Procedure he should comply.


PRAVIN
This Query has 5 replies

This Query has 5 replies

28 March 2008 at 14:12

personal income tax filling?

For e.g. i want to file personal income return for individual. i will be able to or qualifi to file the return? in which limit?the a/c is audited or not?


CA Priya Bhaskar
This Query has 6 replies

This Query has 6 replies

28 March 2008 at 12:24

Long Term Capital Gain

Whether tax liability will arise if total income of a lady is Rs.90000/- in the financial year 2005-06 & Rs.90000 full of Long Term capital gain.


CA Pravas
This Query has 5 replies

This Query has 5 replies

28 March 2008 at 11:38

Treatment of Conveyance Allowance

Hi......
Can any body help me out.

Whether conveyance allowance includes leave travel allowance and its treatment as per IT Act.

Hurry....


Ratnamala
This Query has 3 replies

This Query has 3 replies

28 March 2008 at 11:22

Fringe Benefit TAx

Is there any difference in the fringe benefit rate for "conveyance" & for "Tour & travels".


Anil
This Query has 9 replies

This Query has 9 replies

28 March 2008 at 09:43

Form 15G / Form 15 H

Please let me know the following:


1) When (Timing, NOT purpose)should form 15G and 15H be collected from persons to whom interest or dividend is payable?


2)Should one submit to IT department just the DETAILS of persons from whom Form 15G and 15H are collected OR one should submit the FORMS COLLECTED itself?


3)If Forms collected are to be submitted/filed, should one submit the ORIGINAL OR PHOTOCOPY?


4)When(Timing, NOT purpose) they are to be filed at IT departemnt? Can it be sumitted in electronic form?






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