If employer dose not deduct TDS in one financial year than the expenses is disallowed in that particular year but it is allowed as expenses in any subsequent year when TDS is deducted & deposited to the credit of Central government. Than why not the employee can take the rebate of TDS deducted in that subsequent year i.e. the year in which TDS is deposited & expense allowed to employer?
Why should employee suffer because of the mistake of employer?

i am constructing a house with a construction cost of 80 lakhs! both site n approved municipal plan r on my name.
i hv another property on my wifes name for which i will get over 60lakhs as capital gain! can i use these capital gain proceeds for the house i am constructing on my name inorder to hv tax exemption? IF THIS IS POSSIBLE, IT WILL BE THE BEST OPTION FOR US! the property we r planning to dispose is from our(mine n my wifes) earnings abroad couple of years back!
i can also gift the semifinished house under construction to my wife but approved municipal plan on my name cannt be changed! similarly the property which we r planning to dispose too can be gifted to me by my wife though we may loose abt 3% towards gift registration!
advice is highly appreciated!
tks n regds,
Gupta.

Hi,

We have made payment to Setu Maharashtra (Society) of Rs. 10,00,000/- (No service tax added in invoice) towards the sponsorship of e-governance.
Is this society is exempted from TDS Deduction since they don't have PAN No but having TAN no?
If TDS deducted under which category and rate of TDS?
Is TDS deducted @20% because they don't have PAN no.?


Thanks & Regards
Pramila Bargode

Hi All,

We have received invoice from event organizer (Partnership firm), they have provided to us food and organize games. In invoice they mention only Corporate Team Outing of Rs. 87000/- (NO service tax added).

Pls. guide me whether TDS applicable on this. If yes, under which section.

Kindly revert me.

Thanks & Regards
Pramila Bargode

Can profit earned by a HUF be distributed among the members of HUF in regular course? Is there any option like withdrawal or drawings(available in partnership firm) available in HUF?

Can profit earned by a HUF be distributed among the members of HUF in regular course? Is there any option like withdrawal or drawings(available in partnership firm) available in HUF?

Please clarify further about issue of form 16...

The employer in question, states that he will not be in a position to issue form16 to his employee since there is no TDS deducted from the employee (employee is falling under below the slab category ).

Can the employee demand for a form 16 even though there is no TDS for the whole year's salary and his salary is below the taxale limit.

Dear Sir,

Please clarify this point - " Whether Form 16 can be issued to employees who draw salaries but there is no TDS"
Such Form 16 is a must while applying for housing loan from banks.

What is the alternative for this and whether such alternative would be acceptable by the banks.

Rgds
Arun kumar

Hi ,

My father passed away on 20.04.10 and my mother and self ,by virtue of being a nominee, for his savings account, PPF, FD's, post office,LIC policy etc have received the benefits.

I want to know the following:
1. Do I or my mother or any nominee pay Tax as a result during FY 2010-11;AY 2011-12?
2. If yes, what is the rate and category?
3.If no, how do I record in my income tax as not applicable or exempted?
4.Does this fall under inheritance or wealth /gift tax ?

Dear Experts,

I have taken one ULIP in LIC (Market Plus ) in the name of my wife, Due to unavoidable causes i have not deposited Premium in F.y. 2009-10,further I have deposited premium in F.Y.2010-10 which was due in F.Y.2009-10 , Next Premium due in F.Y.2010-11 & Deposited in F.Y.2010-11, Can I take benefit u/s 80 C in the F.Y.2010-11 against both deposited Premium .