If we fail to deduct TDS for the monthly telephone bills and pay TDS within the financial year, whether the telephone expenses will be allowed as business expenditure for that financial year ?

Please clarify.

In a development agreement between builder & co-op housing society

Where the builder for developing of the building shall use the extra FSI and sell the same after giving each member of the society a flat who carpet area shall be 24% more than the present carpet area.

A sum of Rs. 500,000/- towards enhanced property and municipal taxes for their respective flats and inconvenience and hardship caused

A sum Rs 500,000/- to each member as rent for accommodation during the period of construction of the flat.

What is the liability to Income Tax
1) In case of extra carpet area received .
2) Amount received for future enhanced property ,municipal taxes and inconvenience caused.
3) Amount received as rent for accommodation during the period of construction of the new flat.

Whether TDS is applicable under any provisions for the Telephone charges paid monthly to private operators ?

Can any one give me a advice or standerd format regarding Project Report

How to prepare Project Report ?

Rajendr M

Respected Sir / Madam.

Off late many MNC's are issueing ESOPs for their Indian employees. Such Indian Employees also frequently travel abroad mainly in the IT industry. Assuming that such employee of the Indian Company has been alotted with shares of its parent company in USA (Say after 01-Apr-2007). Now that the employee is travelling to USA wants to sell the shares and wants to bring the sale proceeds to India. We do know that FBT is levied. What are the other legal means of bring back the sale proceeds to India. Can he bring by cash? If So what is the limit of such cash transaction (Taking into account FEMA regulations also). What other documents are required from the Income Tax point of view to pay the differencial tax arising out of Gain on sale of shares?

A person is running a health club & fitness center & provides services related to health & fitness training. What is the criteria u/s 44AB of I.T.Act to attract provisions of Tax Audit? Will his annual receipts will be taken into account or any other criteria? The business is of Partnership concern.

Is it compulsory for a partnership firm (The firm is subject to tax audit)to file its return electronically ? Or whether return filed manually would be accepted ?

how to distinguish between 194C &194J while deducting tds on advertisement?refer some cases & web site to explore more.

Can hotel industry eligible for claiming additional depreciation under IT act

Sir,

I have purchase property for Rs. 5 Lac in Nov'2000, Today the market value of property is Rs.20 lac. At Present I am residing on Rental basis in Delhi.

Now, would like to sell the property and the same amount will not to be invested in other Property.

I want to know that I am liable to pay capital gain from the property or its exempt from tax.

Pls give me your valuable advice.

Regards

Baljinder Singh