could anyone give the TDS rate applicable to travel agents/ travel agencies.
&
Is TDS is deducting on the whole amount of the bill or only on the commission charged by the travel agent / travel agencies.

LTA:

If the company is having a policy of carry forwarding the LTA balance to subsequent calendar year in the same block, can an employee submit bills pertaining to the previous calendar year in the year the balance of transfer.

For example if the employee had not claimed in the year 2006 and the balance pertaining to that year is transferred to the next calender year 2007. Now the employee claims for the year 2006,in the year 2007 with the bills dated 2006. Can an employee submit the bills pertaining to last calender year in the year 2007. Whether the company can accept such bills and whether such payment be given exemption under Income Tax Act, 1961

Please explain me with example about the deffered tax liability on permenant defference..

sir,

During the year 2007-08, Rs.27800/- excess tds remitted to Govt.

what is the procedure of claim refund.


please sir

If Mr.X has two residensial property he sales one property for 1000000/- and buys a new residentialproperty for 3000000/- as on 1/5/2007 and other res.property he sales on 1/5/2008 for 1000000/-and repays the loan which he has brought from bank to buy the new property.(the new property cost is 300000;he pays 1000000 out of sale of his first res. prop.and remaining 2000000 loan fro hdfc.)
Can you please tell me that repayment of the loan from sale of second res.prop.will be consider as deduction and no capital gain will be levied.
Please reply.

One of Client have a charitable trust with main Object of Promoting Health through Free Camps, To Open blood Bank Etc.

He has Opened a Blood bank,has invested in some Lab equipments,The Blood from Blood Bank is given to required people on nominal charges towards Maintenance and Testing charges

trust has collected some donation towards investments in Lab equipments of BLood bank

CAN BE CLAIM EXEMPTION U/S 10(23c) OF THE INCOME TAX as INCOME OF HOSPITAL

MY QUERY IS AS FOLLOWS

I HAVE A HOUSE IN MY NAME IN GURGAON AND FOR BUYING THAT I HAVE TAKEN LOAN FROM BANK AND PAYING INSTSTALLMENTS. BUT I AM RESIDING ON RENT IN GURGAON .

I AM CLAIMING RENT RECEIPT OF RS 8000/- PER MONTH AND RS. 1,50,000/- AS INTEREST ON HOUSING LOAN.
PLEASE CLARIFY ME THE SAME AS MY IT DEPARTMENT OF COMPNAY DENY TO ACCEPT THE BOTH THINGS AS THEY SAID YOU HAVE TO CLAIM ONLY ONLY ONE BENEFIT. PLEAE SOLVE THE QUERRY AS EARLY AS POSSIBLE. WITH DETIAL OF SECTIONS AND CASE IF ANY.

Hello,
Respected collegues,

One of my client is a sub broker and having commission income.For the income tax purposes his commission income will come under professional income and for audit pupose limit of 10 lac is to be taken in to consideration.But if he is doing daily trding then the turnover of shares will be more than 40 lac .then audit is require or not?.
Being the sub broker ,his main business is buying and purchasing shares on behalf of client,but if he is doing trading of shares in his personal demat a/c then what will be the consiquencies?whether the turnover of shares which are done in his own demat a/c will enough to consider the audit limit of 40 lac or the in the case of subbroker only commission receipt is taken in to consideration.(10lac limit for audit)
Please clarify the query,

Thanking You in advance,
CA Pranesh Agrawal

Hello,

I work in a renowned media house. We are
publishing a monthly magazine in which various authors all over the world write articles. We have to pay them charges for
the articles. Is it necessary to deduct TDS on this payment to NRIs ? At what rate ? What is the procedure ? Pl anyone clarify ?

Can a person claim 80 C deduction for the fees paid to ICAI to register himself or his son?

As the act says fees paid to any university, college, school or any other educational institutions is eligible for deduction.

In addition, ICAI is Institution of Chartered Accountant of India and it is very well authorized/approved.