We have made the adhoc provison on meracantile basis for various expenses for the year ending march 07 .
No TDS was deducted on such provision being adhoc .
Actual bills will be booked in the current year and provisions will be reversed . we intent to disallow the expenditure in computing the taxable income for as no tds deducted on such a expenditure .
Pl advise best option available to overcome TDS penal provison and how to incorporate the same in Tax audit report .

I am NRI but I had salary + interest income from India. Deadline is over but I want to file returns in India.
1) Which form to use?
2) Where should I specify my over-seas income?
3) Under which section I should claim tax rebate on foriegn income?

4)Since I am considered NR in India, do I get standard deduction and rebate under section 80(C)?

What is the status of applicability of FBT on staff related expenses incurred during construction period . Company engaged in construction of Mall is capitalising entire expenses till the final completion of Mall.
In case FBT is leviable how the same is to be reflected in accounts. Whether to capitalise it or to be shown as pre operation expense .

A company which is doing Job work and producing finished product in the name of other manufactureres, has arranged for providing LABOUR in the factory with a Cooperative society formed by the very same labourors. As per the terma Society is billing to the Company for the Labour supplied based on the Minimum Wages as applicable (inclusive of add ons such as HRA, DA etc)PLUS 2.69% as SERVICE CHARGES thereon on monthly basis.
Till now Coop. was able to produce Exemption Certificate for TDS provions u/s 194, but from current year they are unable to do so.
The question which arise Now is on What amount TDS u/s 194 is applicable from the company side:
Is it applicable on the Total amount of Bill ie Minimum Wages Plus Service Charges? OR
Is it applicable only on the Service Charges on the plea that Minimum Wages which are being billed to the company is reimbursement of wages to the labourors.
Please Clarify. If possible reply may please be sent to following email as well
ghuliani@gmail.com
Thanks
Ghuliani

Dear Sir,

A company pays Membership Subsription to clubs and hotels for its Directors. The same is claimed as Revenue Expenditure.

Is TDS applicable under this??

What is Panchanama?
What are all the duties of the assessee with regard to Panchanama?
I want to know the details of Panchanama.....

The assessee Company is a trading Company during the financial year 2005 - 06. Trading of Foundry Chemicals.During the financial year 2006 - 07 it started manufacturing during Feb 2007 of one of the products trading like "Sleeves". The New Machinery cost around Rs.35 lacs.Manufacturing of Sleeves started during Feb 07 end.It is new machinery assembled with necessary parts to make the machinery running to manufacture the required product "sleeves". Can the assessee claim additional depreciation under Section 32 (1)(iia) of 20% for six months? (apart from the normal depreciation of 15% for six months)Manufacturing Unit at SIDCO Industrial Estate, Chennai, Tamil Nadu

sir/mam,
My query is related to fbt. I want to ask that whether insurance paid on car is chargeable to fbt or not.
please solve my problem and oblige.

What is Deferred Tax Liability ?

How it is calculated ?

How it is accounted ?

Regards

v s arun

vsafca@yahoo.com

I would like to know how will shares will be valued in share trading buisness??qutantiy at end of the year should be valued at cost or average or fifo or lifo ..is any method prescribed anywhere??if any case laws or circulars will do..