I own 2 House Property one of the Property is a residential Property where i am actually resides and another one is a commercial property which is neither been used for my own business or proffession nor it has been let out to others and therefore it remains vaccan for several years now the question is that whether the Assessing Officer can treat a commercial property as a " deemed to be let out " u/s.23(4)because Sec 23(4) talks about if the assesse owns more than one residential property.

For the last 2 assessment years, the expenditure on which tax has not deducted at source/not remitted within the due dates needs to be disallowed in its entirety.

This is particularly severe in cases of 194C deductions wherein the entire expenditure is disallowed if a small % i.e. 1%/2% is not deducted / remitted under the said section.

I would like to know if anybody has filed any suit questioning the legality of this draconian provision.

regards,
Sankaran

Whether it is compulsory to pay advance tax in the event of MAT

We paid a Government Agency for Security Provided...will TDS be applicable under sec194C... we came across some individual claiming that there is no TDS when it is paid to a government organisation...can anyone give us clarity...

A provision in Ay 2007-08 made for Rs 1 Lakh as audit fees. and TDS Dededuted. The CA Firm Maintains its books on cash basis. How They Have To Account For In Ay 2007-08 And AY 2008-09. Since The TDS Cerificate Shows the Ay 2007-08 but income is received on Ay 2008-09. Kindly explain in detail sectionwise.

On 31-03-07, We made some provisions for professional fees.
We deducted TDS @ 5.1% at Rs. 6,00,000/-
Now on receiving final invoices party has given invoices of Rs. 5,00,000/- only and current rate of TDS is 10.3% for professional fees.
Now, What will be out treatment of TDS on these invoices?

what are the condition for claiming deduction for instalment for house loan
and tuition fees of education for children????

i own 2 properties one is a residential Property where i resides and another one is a commercial property which remains vaccant for last 10 yrs now my question is that can Assesing Officer can treat one of the property as a " Deemed to be let out " or not.

1.A salaried Person is living in his mother house and have no residential house in his name paying a house rent to his mother does this amt. is considered as rent paid for calculation of house rent allowance . further rent income is offered to tax in his mother's return of income .

2.If yes any contract need to preapred for income tax purpose .

3.is there is any risk of disallowance by assessing officer .

A friend of mine gave a suggestion of creating a minor beneficiary trust ie income of the trust is to be accumulated till age of majority and till such time, the income of the trust will be charged as AOP under the individual rate of taxes. I would like to know whether is this possible