Dear Sir,

1. one of my client is received Rs.559800.00 as interest received for
late payment on accident Compensation of Motor Accident Claim(MACT), the interest is taxable or not?

(I am aware that the compensation is exempt in the hands of legal heirs
but please tell me the taxation effect of Interest received)

2.The client also wants refund of Rs.55980.00 TDS deducted on the said
interest u/s 194A. how? I can claim and inwhich section. there is any tax relief
for interest income from mact claim.

3. the such interest is not an income, it is taxfree income for taxation purpose.
Can i got refund?

Whether for a company providing professional (architectural) services tax audit limit should be Rs 25 lakhs or Rs One Crore?

100% EOU DESPATCH MATERIAL TO DTA UNIT AND THEY CHARGE 4% SAD AND 2% CST ALSO. AND WE HAVE TAKEN CREDIT 4% SAD DEPARTMENT SAYS IF 2% CST CHARGED BY 100% EOU CANNOT AVAIL 4% SAD.

pLEASE ADVICE

I had Gross salary of Rs 25000 for 9.5 months. EPF was 900 from employer and employee both. I was then into contract for 3 months @ 37000 pm. out of which tds @10% was deducted. Please tell me what will be my tax liability for PY 13-14 or there will be refund of 10% deducted.

what is logic behind applicable of tds ?
what is purpose of tds ?
sir i want to know history behnd tds

Hello,

We have internet connection with
You broadband and in Dec'13 total payment exceeds 30,000/-, and you broadband is not agreeing to deduct taxes for previous bills, hence please advice how to deal with this issue.

Thanks

R,sir/Madam

Please tell me how can pay less tax(350-500 montly) on Rs.100000 p.m salary

give structure or breakup with exemption & deduction

A govt teacher has not filed return for assessment year 2009-10, 2010-11 & 2011-12 but he has submitted Form-16 against 15-J in IT department.Also return of 2012-13 submitted through e-filling.

Now he has received a letter from IT department to furnish response in the compliance module on the e-filing website that that "WHY DO NOT APPEAR TO HAVE FILED INCOME TAX RETURN FOR ASSESEMENT YEAR 2009-10 ,2010-11 & 2011-12.

Kindly suggest what reply he should response to IT department.

Dear All,

We are a paper manufacturing unit and having expansion unit also. We purchased Castrol Molub oil(HSN No. - 27101980) for our expansion unit. Can we avail cenvat credit if use above item in expansion unit.. or running unit.

Thanks in Advance.
Regards
M.RamKumar

Hello,Could you please explain me the difference between FIFO and Weighted Average Method. Also how cost per unit is calculated while using Weighted Average Method in Process Costing?