W.e.f. 13-July-06 Scope of Section 194I has been extended to cover any rentals payable on equipment by the company.

Is vehicle which is a capital asset does fall within the definition of Equipment and hence any lease rentals payable to leasing company will attrack TDS deduction under Section 194I?

What is deferred tax liability?

How to do accountis for it?

One of my clients has lost the copy of IT teturn filed by him in previous years

Kindly tell me from where to get a duplicate copy of Income tax return filed in previous years.

If a real estate private limited company is transfer of land (stock in trade) to a partnership firm as a capital contribution, then transfer between transfer price minus cost is taxable under what head Business or Capital Gain.

if any caselaw.pls give?

One of our client(a company), hire sub-contractors for job work at diff sites.

to complete work of one site it takes four to five years (a long term contract)

Now client pays on behalf of sub-contractors statutory payments like ESIC , PF e.t.c. in his name & subsiquently he recoveres from sub-contractors statutory payments paid by him.
He meets statutory obligation always on time.

can client do such act?

What shall be effect in taxation? Shall be allowed as deduction , disallowed or treated as income?

What shall be my role as an auditor?

A company had entered into a contract with one security agency for security service. The company is regular in paying the monthly charges after deducting TDS. After 4 months the security agency failed to pay salary to security personnel hence the company had terminated the agreement with agency and gave direct cash payment to security personnel(4 nos). One of the security collects the entire amount and distributed the amount to others. Monthly payment to all of them aggregates to Rs.12900. Whether the company is liable to deduct TDS on such payment to the security personnel???

1.Remuneration of MD
2.Remuneration of other Directors
Falls under what head?
my doubt is it falls under salaries or profession or other sources

1.Remuneration of MD
2.Remuneration of other Directors
Falls under what head?

As per my opinion the Expected Tax Rate Slabs for the cooming Finance Bill, Act 2008 will be as under:(individual only)

For individual(other than women & senior citizen):

upto Rs.1,25,000- tax rate-nil

12,5001-1,50,000-tax rate-10%

1,50,001-2,50,000-tax rate-20%

2,50,001-10,00,000-tax rate-30%

Above-Rs.10,00,000-tax rate-30%

surcharge being same as 10% in case of total income exceed Rs.10,00,000. Edu cess being constant at @ 3%

For a women being age below 65yrs.

upto Rs.1,65,000-tax rate-nil

1,6,5001-2,50,000-tax rate-20%

2,50,001-10,00,000-tax rate-30%

Above Rs.10,00,000-tax rate-30%

surcharge being same as 10% in case of income exceed Rs.10,00,000.

Edu cess being constant at @ 3%

For senior citizen (Age remain 65yrs. or above)

upto Rs.2,05,000-tax rate-nil

2,05,001-2,50,000-tax rate-20%

2,50,001-10,00,000-tax rate-30%

surcharge being same as 10% in case of income exeed Rs.10,00,000.

Edu cess @ 3%.

post your's opinion in this regards is it (A)Good, (B)Better, (C)Best,

(D)Not Bad, (E) very Rediculus.

from umashankar vaishnav

C.A.-Final

Hi,

One of my client is a outsourcing company wherein they supply manpower to corporate where the employee are on the payroll of my client in turn my client received the payment from the corporate. I would like in this case will it be covered under profession or contract for the purpose of TDS.