Whether TDS is to be deducted from remuneration or salary or commission given to partners?
IF yes, under which section?

hi to all
whether the follwing expenses are permissibble deduction while computing the business income of mr x & co. a partnership firm engaged in fertilizer business.
1. interest to partners a, b &c (to each)rs 6,00,000 calculated at 15% simple interest, as provided for in the partership deed. C is a non-resident. the firm has not deducted tax at sourace from there these int. payment.
2.salaries paid to resident employess rs.4,20,000 of this in respect of salary payment of rs. 3,20,000 the required TDS was remitted only on 2-10-2010.
3. on a bulding takrn on lease the firm has incurred exenditure on wooden partition & laying of floor tiles to the tune of rs 3,60,000.

Dear Sir,
In case of an individual having the only business of share trading(short term as well as intra-day)
1. What category of business to be selected for filing return
2. As there is no p&l or balance sheet for this business.. its a no account case, what details to be filled in?

One Case
He is a driver in a company as contractor not company employee. Company pay his amount after deducting TDS on Cont. i.e.1%.
1. Now please inform how to file his income tax return which form need to use for return?
2. How to calculate his Taxable Income
He is getting 14850/- after deducting tax 1%

In this any refund of tax or he need to pay more above to that

Need information on the below.

Background: My Company "XX" wants to sell software on behalf of a US Company "ZZ" acting as their Distributor in India.
1. Sell as in the condition bought.
2. Sell after customizing as per the local needs.

Please let us know what kind of taxes would be involved in such a kind of transaction.

Please enlighten us on this.

Thank you
Vijay

Dear Sirs,
We are partnership firms. One of our partner is studing abrod. We dont pay any reimbursement to any partner but we are paying interest on capital is approx 1.98 lac and partner is a Female partner. What is the Tax liability and as per my openion form ITR-3 is susitable. Please suggest.

thanks in advance

Dear All,

One of my frient is a partner in a firm and do not getting any saleries or amount from the firm except interest on Capital. Current year interest is approx 2 Lac. He is doing agriculture also the agriculture land is on on his father's name. I want to know which ITR form used for his return. Income from agriculture is approx 80 thousands. How much is exempted from the income tax.

regards,


JS

I was about to pay Self assessment tax for the Ass. Year : 2010-11 but by mistake clicked Ass. Year.2011-12 and the challan was generated as Advance tax for Ass. Year 2011-12. What should i do ?

I think my previous query was not clear.

Hi,

Since our company has not issued Form 16 for year ending 31.03.2010, we are unable to file the returns before 31.07.2010 in fact as of today its not filed. The company has deducted Tax during FY2009-10 but management says until Tax is not deposited the Form 16 can not be issued. Also the management is not giving any specific date for the TDS certificate issuance.

Plz let me know what are the consequences that might arise & should we intimate this default to the department, if yes kindly provide communication details.

Thanks,
Manjunath

I want to know whether Assessees covered by S. 44AB are compulsarily required to pay Advance Tax for A.Y. 2011-12 electronically or they can pay their Advance tax manually???