Suppose a machinery is purchased two yrs. back and subsidy of that machine is received in current year and a new machinery is also purchased in current year on which subsidy is not to be received. now will subsidy be reduced from new mach. cost or old mach. cost.

Will it be ok to use the interest rate of 8% for 1 year loan to spouse in today's market scenario for IT computation?


The intention is to use adequate maximum rate. Exact scenario is given below :-

Husband's(H) gross income is higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H)as loan. H opens FD with bank. Bank deducted TDS with H PAN.

e.g. A ltd. has incurred expenditure on lucky draw for its dealer.(say bike )

wwther this should be treated as

1) sales promotion expenditure or
2) gift

state this with F.B.T. implication

what does provision says ??


TDS deducted not paid within due date
Or
TDS deducted not paid within filing return

expenditure on which TDS deducted are not allowable as deduction ???

we have provided a services like accounting as well as auditing for that we have given him a bill say amounted to rs 350000 wht are the provision for that in case of with holding tax and if yes then it will deductible under which provision plz reply fast its so urgent

thnanking in advance

whether to include investment amount redeemed to be considered fresh income receipt

IF FORIENG INVESTMENT TOWARDS A INDIAN COMPANY , WHICH RATE WE SHOULD APPLY TO ACCOUNT IN OUR BOOKS?WHETHER BANK RATE OR CUSTOMS RATE?

Whether TDS is to be made in respect of hire charges paid for containers taken on hire for storing goods. If, yes under which section viz., 194I @ 11.33% or 194C @ 2.27%?

can assessee can set off his advance tax or tds asset against fbt liability ?
if yes then under what section
please replay urgent

hii frnzz,
i hv a doubt regarding userid and psswd.
my client had filed the return last yr
(FY 2006-07) VIA ELECTRONIC FILING.
Nw wen i login to upload this yr's return(ITR 1) i get an error message saying invalid userid and psswrd..
wen i try to create new userid and psswrd a message saying "entry exists" flashes on the screen...wats d solution?????

i will be very happy if i get a solution as soon as possible..